What is the time limit for retention of record impounded during the proceedings conducted under the PMLA?
Authority empowered to issue summons may impound and retain in his custody for such period, as he thinks fit, any records produced before him in any proceedings under this Act : Provided that an Assistant Director or a Deputy Director cannot (a) impound any records without recording his reasons for so doing; or (b) retain in his custody any such records for a period exceeding three months, without obtaining the previous approval of the Director.