‘…then the seized property will be returned’ Big decision of High Court in money laundering case – News India Live

Delhi High Court Money Laundering Case : Delhi High Court has taken a big decision today on Friday regarding the properties seized by ED in the money laundering case. The Court said that if the charges against a person are not proved within a year of the ongoing investigation, the Enforcement Directorate (ED) will have to return the property of that person. The High Court has ruled that, ‘If any proceedings under the Prevention of Money Laundering Act-2022 (PMLA) continue for more than 365 days, the seized property should be returned to the person concerned.’

‘…then the seized property will be returned’

Justice Naveen Chawla said, ‘Retaining the seized property after the above mentioned period will be considered a violation of Article 300A of the Constitution. The ED argued that since Section 8(3)(a) of the PMLA does not provide for consequences after 365 days, no order for return of the property could be made, hence it was confiscated. So the Court said, ‘The clear result is that there has been a default in respect of the seized property and the property should be returned.’

High Court’s decision in BPSL money laundering case

In fact, in the year 2020, ED had taken action against Bhushan Power and Steel Limited (BPSL) in a money laundering case and seized documents, records, digital devices and jewelery from the whereabouts of Mahendra Kumar Khandelwal. The ED registered a money laundering case against BPSL based on the CBI FIR, in which Khandelwal was not named. Then BPSL filed an application in the court in this matter. Khandelwal demanded return of the items seized for more than 365 days without any complaint, but the ED refused. Now in this case Delhi High Court has said that the seized goods should be returned.

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