FINAL ORDER

17.03.2025 Present appeal U/s 26 of Prevention of Money Laundering Act, 2002, is filed against the impugned order dated 14.06.2017 passed by the Adjudicating Authority, in Original Application no.78/2017 vide which respondent-ED was permitted to retain the documents and articles seized from the possession of appellant Ravi Aggarwal, detailed as under:

20 pieces of gold weighing 998 gms valued at Rs.29,54,080/-.

2. As per the facts of the case, F.I.R No.416/2016 dated 29.11.2016 was registered by the Delhi Police, into alleged case of fraudulently converting demonetized black money into Gold by way of depositing the same in the accounts of front companies having bank account with Axis Bank, Kashmere Gate, Delhi. The offence registered by Delhi Police being a Scheduled offence under PMLA, an ECIR/11/DLZO/2016 dated 30.11.2016 was registered by the ED and started investigation for money laundering.

During investigation, it is revealed that as a result of demonetization of currency notes of 500/- & 1000/- denomination announced by the Government of India on 08.11.2016, persons having large amount of such notes were looking for avenues to convert their unaccounted demonetized m