Law:

Section:

Adjudicating authority has power to confiscate to Central Government, money in respect of which contravention under Foreign Exchange Management Act, 1999, has taken place Section 37 of the Foreign Exchange Management Act, 1999, read with section 132 of the Income-tax Act, 1961 - Search, seizure, etc. - Whether officers who are given powers of investigation regarding contravention referred to in section 13 of FEMA have powers in respect of search and seizure similar to powers given to income-tax authorities under 1961 Act - Held, yes - Whether adjudicating authority has power to confiscate to Central Government, money in respect of which contravention has taken place - Held, yes - Police had seized certain amount of money suspecting it to be stolen money - On investigation, it was found that said amount was brought from gulf countries in violation of provisions of FEMA and, hence, matter was referred to Enforcement Directorate for further action as police had no authority to deal with such crimes - Subsequently, authorities of Enforcement Directorate filed an application in Court seeking release of said amount which was allowed by Magistrate - Whether there was any illegality or irregularity in order made by Judicial Magistrate directing handing over of money to Enforcement Directorate - Held, no FACTS The police seized money from a car in which accused Nos. 1, 2 and 3 were travelling. The money was seized by the police on suspicion that it was stolen money and crime was registered under sections 41(1)(d) and 102 of the Code of Criminal Procedure, 1973. On conducting investigation, the police was convinced that the money was not stolen from anywhere. The Sub-Inspector of Police filed a report in the Court stating that proceedings under the Code should be deleted and investigation had to be conducted under section 3(b) and (c) of the FEMA. It was stated in the said report that during investigation it was found that the currency notes were not counterfeit currency notes and that the money was brought from gulf countries without any valid documents. The police made a request to the Enforcement Directorate to take over the investigation of the crime pursuant to…

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