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2019 (1) TMI 572 - AT - Money LaunderingMaintainability of application filed under Section 17(4) - seizure of bank accounts - time limit for filing application - Held that:- It is well settled that if the statute require a thing to be done in a particular manner, it must be in that manner otherwise action is vitiated. After realized its mistake about freezing, the respondent has passed the order of fresh freezing on the fresh application filed under Section 17(4) for confirmation of retention. In the present case, it is admitted position is that the bank accounts were seized on 15.02.2017. The application under Section 17, sub-section (4) was filed on 3rd March, 2017 ( i.e. within 30 days) from the date of freezing of the bank account. Sub-section (1) of Section 20 stipulates the maximum period of one hundred and eighty days for the purpose of adjudication under Section 8 of the Act, however, proceedings under section-5 were not initiated within the period of 180 days. Admittedly, in the present case, the application filed by the respondent under section 17(4) was not allowed. The said order is become final between the parties as the respondent has not challenged the same in any court as admitted by the counsel. As far as the proceedings under section 5 of PMLA, which have been initiated against the appellant is concerned, the same would be considered by the Tribunal as per its own merit. Appeal allowed.
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