Section 37A - Special Provisions Relating to Assets held Outside India in Contravention of Section 4

Seizure of equivalent domestic assets for foreign asset contravention, with review, adjudication and remedy upon disclosure and repatriation.

An Authorised Officer may seize domestic assets equivalent in value to foreign exchange, foreign securities, or immovable property held outside India in contravention of Section 4 (subject to a prescribed value threshold). The seizure must be placed before a Competent Authority promptly, which must review and either confirm or set aside the seizure after hearing both the Directorate of Enforcement and the aggrieved person; confirmation remains until adjudication, and disclosure with repatriation may lead to setting aside the seizure. Orders of the Competent Authority are appealable to the Appellate Tribunal.