Unclaimed cargo disposal allows custodians to auction goods if customs do not object, with proceeds shared between parties. Custodians are authorised to dispose of long standing unclaimed or uncleared import consignments through public auction using reserve prices fixed by custodians' approved valuers; customs must notify disputed or stayed consignments within specified response periods or lose objection rights. Valuations may be resolved by a three valuer panel; staged reductions in reserve price apply for perishable and non perishable goods after failed auctions, including simultaneous sealed tenders. Custodians must send periodic disposal lists and keep consignment wise accounts; sale proceeds are to be shared between custodians and customs on a 50:50 basis pending final accounting to ensure statutory duty recovery.
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.
Unclaimed cargo disposal allows custodians to auction goods if customs do not object, with proceeds shared between parties.
Custodians are authorised to dispose of long standing unclaimed or uncleared import consignments through public auction using reserve prices fixed by custodians' approved valuers; customs must notify disputed or stayed consignments within specified response periods or lose objection rights. Valuations may be resolved by a three valuer panel; staged reductions in reserve price apply for perishable and non perishable goods after failed auctions, including simultaneous sealed tenders. Custodians must send periodic disposal lists and keep consignment wise accounts; sale proceeds are to be shared between custodians and customs on a 50:50 basis pending final accounting to ensure statutory duty recovery.
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