Under the Prevention of Money Laundering Act, 2002, the Adjudicating Authority assumes the powers of a civil court under the Code of Civil Procedure, 1908 while trying a suit relating to certain matters. Under what circu

CS Professional · Resolution of Corporate Disputes, Non-Compliances & Remedies · PYQS · June 2021
Under the Prevention of Money Laundering Act, 2002, the Adjudicating Authority assumes the powers of a civil court under the Code of Civil Procedure, 1908 while trying a suit relating to certain matters. Under what circumstances, the adjudicating authority can do so ?

Answer & Explanation:

Answer 3(c) Section 11 of the Prevention of Money Laundering Act, 2002 provides that- The Adjudicating Authority shall, for the purposes of this Act, have the same powers as are vested in a civil court under the Code of Civil Procedure, 1908 while trying a suit in respect of the following matters, namely: discovery and inspection; enforcing the attendance of any person, including any officer of a banking company or a financial institution or a company, and examining him on oath; compelling the production of records; receiving evidence on affidavits; issuing commissions for examination of witnesses and documents; and any other matter which may be prescribed. All the persons so summoned shall be bound to attend in person or through authorized agents, as the Adjudicating Authority may direct, and shall be bound to state the truth upon any subject respecting which they are examined or make statements, and produce such documents as may be required. Every proceeding under section 11 shall be deemed to be a judicial proceeding within the meaning of section 193 and section 228 of the Indian Penal Code. The adjudicating authority may assume the power of a civil court in under the Code of Civil Procedure, 1908 in accordance with above provisions.

Topics: Prevention of Money Laundering Act (PMLA)

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