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2018 (2) TMI 578 - AT - Money LaunderingOffence under PMLA - valuables in the Lockers involved in money laundering - criminal act of money laundering to sabotage the demonetization policy announced by Govt. of India - period more than 180 days is already elapsed and the Enforcement Directorate has not passed any orders under section 5(1) of PMLA - Held that:- In the present case there are no allegation against her involving in the schedule offence or under the PML Act, 2002. More than 180 days period already expired. No proceedings are initiated against the appellant. Only on the basis of apprehension jewellery ornaments are attached. No document and currency was recovered in the locker when it was search. The involvement of her brother cannot be attributed to her as nothing indiscriminating material was either recovered from her and from the locker. Both sisters are married sister. Thus, it is apparent that there are no “reason to believe” that the valuables in the Lockers are involved her in money laundering. Section 20(1) of PMLA absolutely bars and prohibits retention of the seized property beyond 180 days from the day on which such property was seized.It is apparent that the statutory requirement as to entertainment of reasonable belief in relation to section 17 of PMLA does not exist in the present case. Thus orders passed agaisnt assessee set aside and the lockers of the appellant is de-freezed accordingly by allowing the appeal.
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