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2019 (6) TMI 635 - AT - Money LaunderingOffence under PMLA - Provisional Attachment Order - HELD THAT:- This tribunal is of the view that the adjudicating authority is duly bound to specifically come to the final conclusion as to whether the property attached was involved in money laundering or not and it was acquired from the proceed of crime or not. No doubt, if the property which was acquired is not traceable or disposed of due to misconduct of the accused party, only then other property can be attached in lieu of value thereof, in order to secure the proceeds of crime. However, in the present appeal, the hearing officer was unsure about the same, he had adopted ‘oblique’ system which is not permitted in law. It is evident that due process has not been followed which is mandated in law. If alternative oblique system will continue, the confusion is to continue. The impugned order is set-aside. The matter is remanded back to the Adjudicating Authority to decide afresh after hearing both parties and their contentions raised. The same be decided within 180 days from today. All the contentions raised by the appellant shall be considered by the Hon’ble Member (Law) who will hear the matter.
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