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TMI Blog2021 (4) TMI 607X X X X Extracts X X X X X X X X Extracts X X X X ..... foresaid attachment order. 2. According to the petitioners, they have purchased the plots in the colony developed by respondent No.3 in the name of "Empire Wild Flower" by investing their lifetime savings. Before purchasing the said plots, the petitioners have got verified all the documents pertaining to the ownership of respondent No.3, diversion order dated 14.7.08 (revised on 9.10.2011); development permission granted by Joint Director, Town & Country Planning dated 21.8.2014 (revised on 29.1.2018); registration certificate as colonizer; registration with RERA; and development permission granted by Indore Municipal Corporation on 30.4.2014. Therefore, there was no iota of doubt in the mind of the petitioners in respect of any illegality ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) of Section 5 of the Prevention of Money-laundering Act, 2002 ("PMLA Act" for short) all the movable and immovable properties belonging to respondent No.3 for a period of 180 days and the said order shall cease to have effect after expiry of 180 days or on the date of order of the adjudicating authority made u/s. 8(3) of the PMLA Act, whichever is earlier. He submits that the petitioners are having remedy to approach the adjudicating authority u/s. 8 of the PMLA Act because they are aggrieved by the impugned order of provisional attachment. Therefore, the aforesaid order is a temporary order and it is subject to the approval by the adjudicating authority u/s. 8 of the PMLA Act. Under proviso to sub-section (2) of Section 8 also, if the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edule, before a Magistrate or court for taking cognizance of the scheduled offence, as the case may be, or a similar report or complaint has been made or filed under the corresponding law of any other country: Provided further that, notwithstanding anything contained in [first proviso], any property of any person may be attached under this section if the Director or any other officer not below the rank of Deputy Director authorised by him for the purposes of this section has reason to believe (the reasons for such belief to be recorded in writing), on the basis of material in his possession, that if such property involved in money-laundering is not attached immediately under this Chapter, the non-attachment of the property is likely to f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll, within a period of thirty days from such attachment, file a complaint stating the facts of such attachment before the Adjudicating Authority." "8. Adjudication. - (1) On receipt of a complaint under sub-section (5) of section 5, or applications made under sub- section (4) of section 17 or under sub-section (10) of section 18, if the Adjudicating Authority has reason to believe that any person has committed an 1[offence under section 3 or is in possession of proceeds of crime], it may serve a notice of not less than thirty days on such person calling upon him to indicate the sources of his income, earning or assets, out of which or by means of which he has acquired the property attached under sub- section (1) of section 5, or, seized 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in writing, confirm the attachment of the property made under sub-section (1) of section 5 or retention of property or 3[record seized or frozen under section 17 or section 18 and record a finding to that effect, whereupon such attachment or retention or freezing of the seized or frozen property] or record shall- (a) continue during investigation for a period not exceeding three hundred and sixty-five days or the pendency of the proceedings relating to any offence under this Act before a court or under the corresponding law of any other country, before the competent court of criminal jurisdiction outside India, as the case may be; and (b) become final after an order of confiscation is passed under sub-section (5) or sub-section (7) of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it. (7) Where the trial under this Act cannot be conducted by reason of the death of the accused or the accused being declared a proclaimed offender or for any other reason or having commenced but could not be concluded, the Special Court shall, on an application moved by the Director or a person claiming to be entitled to possession of a property in respect of which an order has been passed under sub-section (3) of section 8, pass appropriate orders regarding confiscation or release of the property, as the case may be, involved in the offence of money- laundering after having regard to the material before it. (8) Where a property stands confiscated to the Central Government under sub-section (5), the Special Court, in such manner as ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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