7. Adjudication –
(1) On receipt of a complaint under sub-section (4) of section 5, or applications made under sub-section (3) of section 16 or under sub-section (9) of section 17, if the Adjudicating Authority has reason to believe that any person has committed an offence under section 3, he may serve a notice of not less than thirty days on such person calling upon him to indicate the sources of his income, earning or assets, out of which or by means of which he has acquired the property attached under sub-section (1) of section 5, or, seized under section 16 or section 17, the evidence on which he relies and other relevant information and particulars, and to show cause why all or any of such properties should not be declared to be the properties involved in money-laundering and confiscated by the Central Government:
Provided that where a notice under this sub-section specifies any property as being held by a person on behalf of any other person, a copy of such notice shall also be served upon such other person:
Provided further that where such property is held jointly by more than one person, such notice shall be served to all persons holding such property.(2) The Adjudicating Authority shall, after-
(a) Considering the reply, if any, to the notice issued under sub-section (1);
(b) Hearing the aggrieved person and the Director or any other officer authorised by him in this behalf, and
(c) Taking into account all relevant materials placed on record before him,
by an order, record a finding whether all or any of the properties referred to in the notice issued under sub-section (1) are involved in money-laundering:
Provided that if the property is claimed by a person, other than a person to whom the notice had been issued, such person shall also he given an opportunity of being heard to prove that the property is not involved in money-laundering.
(3) Where the Adjudicating Authority decides under sub-section (2) that any property is involved in money-laundering, he shall, by an order in writing, confirm the attachment of the property made under sub-section (1) of section 5 or retention of property or record seized under section 16 or section 17 and record a finding to that effect such attachment or retention of the seized property or record shall-
(a) Continue during the pendency of the proceedings relating to any scheduled offence before a court; and (b) Become final after the guilt of the person is proved in the trial court and order of such trial court becomes final.
(4) Where the provisional order of attachment made under sub-section (1) of section 5 or retention of property or record seized under section 16 or section 17 has been confirmed under sub-section (3), the Director or any other officer authorised by him in this behalf shall forthwith take the possession of the attached property.
(5) Where on conclusion of a trial for any scheduled offence, the person concerned is acquitted, the attachment of the property or retention of the seized property or record under sub-section (3) shall cease to have effect.
(6) Where the attachment or retention of the seized property or record of any property or retention of the seized property or record becomes final under clause (b) of sub-section (3), the Adjudicating Authority shall, after giving an opportunity to the person concerned, make an order confiscating such property.