9911796707
TMI Blog2024 (10) TMI 1406X X X X Extracts X X X X X X X X Extracts X X X X ..... ection in the nature of Mandamus commanding learned court having jurisdiction/authority concerned to consider the case of the petitioner in light of direction of order dated 01.07.2024 passed by this Court in CRLP No.20172 of 2023; Prakash Chandra Tiwari vs. Union of India and Others during the pendency of this writ petition." 3. Learned counsel for the petitioner submits that respondents be directed to return back the money deposited by the petitioners and other investors with interest as applicable. 4. Learned counsel appearing for respondent no.2, Enforcement Directorate, has submitted that the petitioner has statutory remedy under Section 8 of the Prevention of Money Laundering Act, 2002, the last proviso whereof provides that the spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... son 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 [or frozen] [Inserted by Act No. 2 OF 2013] under section 17 or section 18, the evidence on which he relies and other relevant information and particulars, and to show cause why all or any of such properties should not be declared to be the properties involved in money-laundering and confiscated by the Central Government: Provided that where a notice under this sub-section specifies any property as being held by a person on behalf of any other person, a copy of such notice shall also be served upon such other person: Provided further that whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvestigation for a period not exceeding [three hundred and sixty-five days] [Inserted by Finance Act, 2018 (Act No. 13 of 2018) dated 29.3.2018.] 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 section 8 or section 58 B or sub-section (2A) of section 60 by the Adjudicating Authority] [Explanation. - For the purposes of computing the period of three hundred and sixty-five days under clause (a), the period during which the investigation is stayed by any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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 may be prescribed, may also direct the Central Government to restore such confiscated property or part thereof of a claimant with a legitimate interest in the property, who may have suffered a quantifiable loss as a result of the offence of money lau ..... X X X X Extracts X X X X X X X X Extracts X X X X
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