Disposal of unclaimed cargo: custodian-led auction process proceeds after customs clearance checks, with reserve price by approved valuers. Custodians may initiate time bound disposal of unclaimed cargo after notifying consignees and forwarding lists to Customs; absent Customs objections within the notice period, custodians proceed. Disposal responsibility lies with the custodian, which fixes the reserve price through a panel of approved valuers; Customs may provide an appraiser on request. Auctions must be publicly advertised; unsold goods at the first auction are re offered by sealed tender or e auction and sold to the highest bidder. Bids are cum duty with duty back calculated; custodians file consolidated Bills of Entry for duty assessment and goods release occurs after duty payment.
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.
Disposal of unclaimed cargo: custodian-led auction process proceeds after customs clearance checks, with reserve price by approved valuers.
Custodians may initiate time bound disposal of unclaimed cargo after notifying consignees and forwarding lists to Customs; absent Customs objections within the notice period, custodians proceed. Disposal responsibility lies with the custodian, which fixes the reserve price through a panel of approved valuers; Customs may provide an appraiser on request. Auctions must be publicly advertised; unsold goods at the first auction are re offered by sealed tender or e auction and sold to the highest bidder. Bids are cum duty with duty back calculated; custodians file consolidated Bills of Entry for duty assessment and goods release occurs after duty payment.
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