AT ruled against double seizure of bank lockers and gold in a ...

Bank Lockers and Gold Already Under CBI Cannot Be Re-seized Under PMLA Section 17(1) for Money Laundering Investigation

February 4, 2025

Case Laws Money Laundering AT

AT ruled against double seizure of bank lockers and gold in a money laundering case. The lockers (no. 86 and 96) were already under CBI custody, making subsequent seizure under PMLA Section 17(1) unjustified as there was no risk of concealment. Regarding 3.2kg gold, seizure was invalidated based on CBDT guidelines allowing women to possess specified quantities (500g for married, 250g for unmarried). AT held that properties under one authority's seizure cannot be re-seized by another unless released by the initial authority. The respondent retains right to fresh seizure upon CBI's release. The impugned order was partially modified, and appeal disposed of accordingly.

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AT ruled against double seizure of bank lockers and gold in a ...

Bank Lockers and Gold Already Under CBI Cannot Be Re-seized Under PMLA Section 17(1) for Money Laundering Investigation

February 4, 2025

Case Laws Money Laundering AT

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