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2017 (8) TMI 862 - AT - Money LaunderingPrevention of Money Laundering - provisions prescribed under law for retention of the documents/properties - permitting the Enforcement Directorate to retain various documents/computer hardwares seized from different places in terms of Section 17(4) of PMLA - Held that:- The intention of the legislature for retention of documents is to arm the Investigating Authority to find out the truth of the allegations through the evidence collected by way of documents/records including digital records to come to a conclusion. Binding the hands of the Investigating Authority by refusing to retain the documents will not be in the interest of justice. The law has allowed the person from whom records seized or frozen to obtain the copies of record. The appellant has right under law that is section 21(2) PMLA to obtain the copies of records he required. We do not see any prejudice is caused to the appellant in retaining the documents/records seized, in the present case, from its possession. Rather it will obstruct the progress of investigation if the prayer of Enforcement Directorate to retain the documents is disallowed. Admittedly, the case is under investigations. Prima facie there are serious allegation of fraud and the investigation is at crucial stage. So in our considered view, the appellant has not made out any case to set aside the impugned order. There is due compliance of the provision under PMLA relating to retention of the records/documents. No infirmity or illegality in the impugned order.
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