Allowed
FPA-PMLA-1195/BBS/2016 of Mr. Sarosh Yazdani v/s The Joint Director Directorate of Enforcement, Bhubaneswar
ATFPFPA-PMLA-1195/BBS/2016
Case brief
AI extract
What is this about?
The Appellate Tribunal set aside impugned retention orders passed under the Prevention of Money-Laundering Act. The court held that orders lapse if no prosecution complaint is filed within ninety days as per Section 8(3)(a), clarifying that the decision was procedural rather than on merits.
What did the court decide?
Impugned retention orders set aside and appeals allowed on procedural grounds due to failure to file prosecution complaint within statutory time.