Chapter IX - Reciprocal Arrangement for Assistance in Certain Matters and Procedure for Attachment and Confiscation of Property (From Section 55 to Section 61)
Vesting of property: confiscation orders cause assets to vest in the government free from encumbrances, preserving civil liability. Vesting occurs when a confiscation order is made under the Act: all rights and title in the property vest absolutely in the Central Government free from all encumbrances. The tribunal, after hearing interested persons, may declare encumbrances or leasehold interests void if created to defeat the Chapter, causing vesting free from those interests. The provision preserves personal liability for encumbrances enforceable by suit for damages and applies to attached, seized or frozen property under the Act.
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.
Vesting of property: confiscation orders cause assets to vest in the government free from encumbrances, preserving civil liability.
Vesting occurs when a confiscation order is made under the Act: all rights and title in the property vest absolutely in the Central Government free from all encumbrances. The tribunal, after hearing interested persons, may declare encumbrances or leasehold interests void if created to defeat the Chapter, causing vesting free from those interests. The provision preserves personal liability for encumbrances enforceable by suit for damages and applies to attached, seized or frozen property under the Act.
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