📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Under PMLA, which of the following authorities is

    empowered to provisionally attach property believed to be involved in money laundering?
    A Financial Intelligence Unit – India Correct Answer Incorrect Answer
    B Central Bureau of Investigation Correct Answer Incorrect Answer
    C Director or an officer not below the rank of Deputy Director authorised by him Correct Answer Incorrect Answer
    D Judicial Magistrate Correct Answer Incorrect Answer
    E Income Tax Officer Correct Answer Incorrect Answer

    Solution

    Section 5(1) of PMLA empowers the Director or any other officer not below the rank of Deputy Director, authorised by him, to provisionally attach property if they have reason to believe that the property is involved in money laundering. This attachment is initially valid for 180 days and is subject to confirmation by the Adjudicating Authority.

    Practice Next
    More Other Laws and Acts Questions
    ask-question