Property Adjudication

Adjudication of properties is provided under Section 8 of the Prevention of Money Laundering Act, 2002. This act was implemented to provide for confiscation of property derived from or involved in money laundering and for matters connected therewith. 

Read More
  • Quick
    Turnarounds

  • Value
    For Money

  • Expert
    Professionals

  • Custom
    Fit Solutions

  • Quick
    Turnarounds

  • Value
    For Money

  • Expert
    Professionals

  • Custom
    Fit Solutions

By submitting this form you agree to accept our of use, privacy policy and disclaimer.

HOW DOES IT WORK ?

HOW DOES IT WORK ?

Step 1

We subject expert will get in touch with you to understand your requirement

01

Step 2

We will draft and prepare the supporting documents.

02

Step 3

Sit back and relax! Let us take care of the rest of the process & help you every step of the way.

03

WHY CHOOSE LEGALO ?

Quick Turnarounds

Have access to a wide range of quality services at reasonable and competitive prices

Value For Money

We understand Time is the most valuable resource and are flexible and responsive to your requirements

Expert Professionals

We cater to a wide range of services across legal, CA, CS and consulting and bring to the table the most relevant and experienced professional to provide the right solution.

Custom Fit Solutions

We provide customized solutions to meet your unique requirements.

FREQUENTLY ASKED QUESTIONS ?

  • Legalo is a platform to help you connect with the best professionals, legal experts & financial experts to deliver efficient and cost-effective solutions to your business and personal needs.
  • Legalo offers a wide range of services from business, Accounting & Tax to Legal Solutions such as business structuring, company registration, Company licensing, intellectual property, trademark, copyrights registration, Patent Filing, GST & TDS registration/ Filing, Accounting Services, Corporate & labour Compliance , Franchising, Business sale & purchase, Personal/Civil/Property / criminal related legal services & more.
  • Legalo Connect you with the best industry experts to deliver efficient and cost effective, tailor-made solutions. We also understand that time is the most valuable resource and we offer solutions with a very quick turnaround time.
  • Legalo offers the following solutions namely Property title verification, Property registration, succession registration, Legal heir Certification, Will drafting & registration, Sale deed, Gift Deed, Residential rental agreement, relinquishment deed, will probate & more. Please check the links for more details
  • The Real Estate (Regulation and Development) Act, 2016 (RERA) is an Act passed by the Indian Parliament. The RERA seeks to protect the interests of home buyers and also boost investments in the real estate sec.
  • Legalo helps draft and send legal notices, Cheque bounce notices, Money recovery notices & more

FREQUENTLY ASKED QUESTIONS ?

faq

LEGAL BITS YOU SHOULD KNOW

pic pic

 

 Some Basic Terms explained

 

  1. Adjudicating Authority – The authority consists of a chairperson and two other members having knowledge and experience in the field of law, administration, finance, and accountancy.
  2. Proceeds of crime – According to Section 2(u) of the Act, “Proceeds of Crime”, means that “any property which derived or obtained (directly or indirectly) as a result of criminal activity mentioned under scheduled offense”
  3. Special Courts – According to Section 2(z) of the Act, “Special Courts” are the courts of session under the Prevention of Money Laundering Act, 2002.
  4. Scheduled Offence – According to Section 2(y) of the Act, Offences mentioned under Part A, Part B, Part C of the schedule provided are the scheduled offense.

 

What is the offense under Section 3 of the Act?

 

According to Section 3, whoever is found indulged in the process of concealment, possession, acquisition, or projection of untainted property, then such person shall be guilty of the offense of money laundering.

 

How to apply

 

The process involved in Adjudication of Property under PMLA, 2002

 

  1. According to Section 8, if the Adjudicating Authority receives a complaint or has reasons to believe that the offense provided under Section 3 has been committed, then the adjudication officer may serve a notice of 30 days within which the alleged/suspected person have to indicate the sources of income, earnings or assets, and other relevant information and prove before the authority that why such property should not be declared to be involved in the money-laundering process.
  2. Following the notice served to the suspected person, the authority must give the fair opportunity of being heard and consider time for a reply and take into account all the relevant information placed on record before him.
  3. Proceeding, the authority shall decide either the attached property can be continued to have the person or shall be confiscated from that person
  4. The property can be confiscated or the order of the confiscation means the property confiscated by the appointed person, and the case will be referred to the Special Court. 
  5. If the special court finds that the money laundering offense has been committed, then the confiscated property shall be hand over to the Central Government
  6. If the special court finds that the offense has not been committed, then the confiscated property shall be released to the entitled person.
  7. In other circumstances, if the trial was concluded due to the death of the person or the person being default offender, the special court on an application by the person entitling the title over the property shall pass any order as it may deem fit and necessary following the facts and materials placed before it.

 

Appeals

An appellate authority is established by the Central Government to hear appeals against the orders of the Adjudicating Authority and the authorities under the Act.

 

How Legalo Can Help You

 

Our partners & associates bring years of experience to the table to help you navigate and deliver these works. Our company can customize a program to meet your specific needs and budget. If you need any legal or professional assistance in searching the right trademark for your business, contact us here.