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2018 (2) TMI 1570 - AT - Money LaunderingOffence under PMLA - conducting the searches- retention of seized property - opinion based on “Reason to Believe” - Held that:- The main purpose of conducting the searches, as mentioned in the reason to believe, no material or any seizure of incriminating documents or any demonetized currency. The search of the said lockers conducted was not in conformity with the provisions of law relating “reasons to believe” for conducting search of the lockers. Copy of the reasons to believe here also not been served. The Respondent at no stage has stated that the contents of Bank Locker are “proceeds of crime‟ and there is no whisper even in the complaint against the Appellant. In the present case there are no allegation against assessee 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. So the reasons of believe on the face of it loose its validity. The involvement of her brother cannot be attributed to her as nothing indiscriminating material was either alleged or recovered from her and from the locker. Both sisters are married sister. Section 20(1) of PMLA bars and prohibits retention of the seized property beyond 180 days from the day on which such property was seized.The prohibition of the lockers of the appellant is lifted accordingly by allowing the appeal.
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