Question
Consider the following statements regarding the attachment and confiscation of property under Sections 5 and 8 of the PMLA, 2002: Statement 1: Property suspected to be proceeds of crime can be attached by the Enforcement Directorate immediately without obtaining a court order. Statement 2: After attachment, there is a mandatory period of 90 days within which a prosecution complaint must be filed and a court approval for attachment must be obtained. Statement 3: If no prosecution complaint is filed and court approval is not obtained within 90 days, the attachment becomes invalid and property must be returned immediately. Statement 4: Confiscation of property can be ordered only after a conviction for money laundering under Section 4 of PMLA. Which statements are correct?
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