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        Customs

        Rule 16 - Negotiable instruments and shares in a corporation

        Customs (Attachment of Property of Defaulters for Recovery of Government Dues) Rules, 1995

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        Sale of negotiable instruments or corporate shares may be conducted through a broker rather than public auction under authorised procedure. Where the property to be sold is a negotiable instrument or a share in a corporation, the Proper Officer may, instead of directing the sale by public auction, authorise the sale of such instrument or share through a broker.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Sale of negotiable instruments or corporate shares may be conducted through a broker rather than public auction under authorised procedure.

                                Where the property to be sold is a negotiable instrument or a share in a corporation, the Proper Officer may, instead of directing the sale by public auction, authorise the sale of such instrument or share through a broker.


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