TEKCHAND Vs. COMPETENT AUTHORITY

JUDGEMENT

(1.) With a view to provide for the forfeiture of illegally acquired properties of smugglers and foreign exchange manipulators, the Parliament enacted, in the year 1976, The Smugglers And Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976, being Act No. 13 of 1976. The Preamble to the Act sets out the objective which the Act seeks to achieve. It says :

(2.) It would equally be relevant to notice the Statement of Objects and Reasons appended to the Bill. The Statement sets out the mischief the Act was intended to meet and counter-act. It reads:

(3.) The Act was preceded by an Ordinance issued on 5th November, 1975. For that reason, the Act, when made, was given effect to from the said date. The object with which the Act was made is, without a doubt, highly laudable.