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2013 (9) TMI 920 - HC - FEMARefund of seized amount - Investigation procedure - Held that:- Though the money was seized on 09/05/2011 at about 11 O'clock in the night, till date the investigation is not completed. If the respondent authorities are of the opinion provisions of FEMA Act are violated by the appellant, investigation must be completed within a reasonable time. It is more than one year since the investigation is pending. In that view of the matter, though we are not agreeing with the relief sought by the appellant - there has to be time frame for completion of the investigation by the respondent authorities that is Directorate of Enforcement - Appeal is disposed of directing respondents 1 and 2 to complete the investigation as expeditiously as possible not later than four months from the date of receipt of a copy of this judgment. - Decided partly against petitioner.
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