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K. SARATH
Musaddilal Gems and Jewels (India) Private Limited – Appellant
Versus
Union of India, Ministry of Finance, Represented by its Secretary, North Block Central Secretariat, New Delhi – Respondent
ORDER:
Heard Sri B.Chandrasen Reddy, Learned Senior Counsel appearing for the petitioners and Sri T.Suryakaran Reddy, Learned Additional Solicitor- General, for the respondents.
2. The learned Senior Counsel for the petitioners submits that the petitioners are challenging the search and seizure conducted on 17.10.2022 and consequential panchanamas contrary to the Section 17 of the Prevention of Money Laundering Act (for brevity ‘PMLA’).
3. The learned Senior Counsel for the petitioner submits that the petitioner No.1-Company established in the year 2013 and commenced its business from October, 2016 and the petitioner Nos. 2 to 4 are the Directors of the petitioner No.1-Company. The Central Bureau of Investigation (CBI), Hyderabad registered a case against one Mr.Sukesh Guptha and the officials of MMTC for defrauding M/s MMTC Limited in purchase bullion under buyer’s credit scheme in F.I.R.No.RC01/(A)/2013 dared 03.01.2013 and also filed charge sheet No.25/2014 dated 27.11.2014. The petitioner No.1 being independent company, neither the petitioner No.1-company nor its directors are
The court affirmed that the Enforcement Directorate's actions under the PMLA were valid, emphasizing the importance of statutory compliance in search and seizure operations.
It is a well-settled salutary principle that if a statute provides for a thing to be done in a particular manner, then it has to be done in that manner and in no other manner.
The necessity for authorities to possess credible information to form a reasonable belief before conducting search and seizure under Section 132 of the Income Tax Act is essential for the validity of....
Search and seizure under Section 132 of the Income Tax Act requires credible information that justifies belief, and cannot be based on mere suspicion.
Currency notes and coins do not fall under the definition of 'documents' in Section 19(3) of the Foreign Exchange Regulation Act, leading to the invalidation of the search and seizure executed withou....
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