Section 7(8) in Banning of Unregulated Deposit Schemes Act, 2019
(8)Subject to any rules made in this behalf by the Central Government, any officer referred to in sub-section (2) 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 the officer or officers referred to in sub-section (2) shall not -(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 Competent Authority.
