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Disposal of uncleared export cargo: custodian-directed e-auction procedure with shared sale proceeds and mandatory pre-delivery payment. One-time administrative arrangement permits custodians to auction export cargo entered for export up to 31.03.2023 that was neither exported nor taken back to town, excluding goods under seizure or court order. Custodians must list consignments, serve three auction notices to exporters and brokers, create individual files with shipping and examination records, obtain necessary NOCs and analyses, destroy unfit samples at their cost with legal clearances, obtain valuations from two government-approved valuers, fix reserve price via a committee, conduct e-auction per Board procedures, and share sale proceeds with Customs on a 50:50 basis with payment required before delivery.
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Disposal of uncleared export cargo: custodian-directed e-auction procedure with shared sale proceeds and mandatory pre-delivery payment.
One-time administrative arrangement permits custodians to auction export cargo entered for export up to 31.03.2023 that was neither exported nor taken back to town, excluding goods under seizure or court order. Custodians must list consignments, serve three auction notices to exporters and brokers, create individual files with shipping and examination records, obtain necessary NOCs and analyses, destroy unfit samples at their cost with legal clearances, obtain valuations from two government-approved valuers, fix reserve price via a committee, conduct e-auction per Board procedures, and share sale proceeds with Customs on a 50:50 basis with payment required before delivery.
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