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2019 (9) TMI 223 - AT - Money LaunderingOffence under PMLA - retention of the seized goods - failure to file complaint within 90 days - summons were addressed to Mr. Iqbal Mubarak, a shareholder holding less than 1% shares of the Appellant Company and served at the address of the Appellant - HELD THAT:- It is an undisputed fact that Mr. Iqbal Mubarak is not an FIR named accused nor named in the ECIR and no prosecution complaint has also been filed against him even though prosecution complaint under PMLA has been filed against several persons arising out of same ECIR and the Special PMLA Court has taken the cognizance of the same and further trial proceedings are underway. There is no whisper anywhere in the appeal that either Mr. Iqbal Mubarak is prosecuted under PMLA. In the circumstances, as per the provisions of Section 8(3)(a) of PMLA, 2002 as existed till 13.07.2019 prosecution complaint was to be filed within 90 days. The impugned order was passed on 01st February, 2018. As per the said mandatory provision then existed, the prosecution complaint was to be filed involving the property in question within the prescribed period of 90 days and that if no prosecution complaint is filed in respect of the property concerned, the retention order of seizure lapses. In the present case more than 90 days have been passed since the day of passing of the impugned order and no prosecution complaint was filed that the materials seized herein are part of any prosecution complaint. Therefore, in the light of the above the impugned order to the extent that “The seized item should be restored to the appellant” which is confirmed with a direction to the respondent that the retained material shall be returned to the appellant within four weeks.
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