Question
Under Section 8, which of the following is correct? 1. The Adjudicating Authority shall issue a notice of not less than 30 days calling upon the person to indicate the sources of income or assets. 2. If the Authority finds that the property is involved in money-laundering, it shall confirm the attachment. 3. Upon confirmation, the attachment becomes final and irreversible. 4. After confirmation, the property vests absolutely in the Central Government at once.
Solution
Section 8(1) mandates a 30-day notice. Section 8(3) allows confirmation if property is involved. Statement 3 is wrong: confirmation is not final; confiscation occurs only after trial (Section 8(5)). Statement 4 is wrong: vesting occurs only after confiscation, not after confirmation.
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