Section 21 of PMLA : Section 21: Retention Of Records

PMLA

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Explanation using Example

Imagine a scenario where a business owner, Mr. Sharma, is suspected of money laundering activities. The authorities, under the Prevention of Money-Laundering Act, 2002, conduct a raid on Mr. Sharma's office under Section 17 and seize various financial records.

Under Section 21(1), the Investigating Officer believes these records are crucial for the ongoing investigation. Therefore, the records are retained for a maximum period of 180 days to facilitate the inquiry.

Mr. Sharma, under Section 21(2)...

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