Confiscated property management requires safe custody, deposit of valuables in authorised institutions, and prescribed register maintenance. Rule 8 requires the Administrator to manage confiscated property according to its nature. If removal of attached property is impracticable or too costly, the property must be maintained and kept in custody at the place of attachment. Cash, securities, bullion, jewellery and other valuables must be deposited in safe custody with the nearest Government Treasury, Reserve Bank of India branch, State Bank of India branch, its subsidiaries, or another authorised bank. The Administrator must also maintain prescribed registers and obtain receipts for deposits.
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.
Confiscated property management requires safe custody, deposit of valuables in authorised institutions, and prescribed register maintenance.
Rule 8 requires the Administrator to manage confiscated property according to its nature. If removal of attached property is impracticable or too costly, the property must be maintained and kept in custody at the place of attachment. Cash, securities, bullion, jewellery and other valuables must be deposited in safe custody with the nearest Government Treasury, Reserve Bank of India branch, State Bank of India branch, its subsidiaries, or another authorised bank. The Administrator must also maintain prescribed registers and obtain receipts for deposits.
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