Prevention of Money-laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013. - 10/2013 - Prevention of Money-Laundering
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Possession of attached property: rules require authorised officers to secure, deposit, transfer or sell confirmed assets and preserve proceeds. Rules require the Director or an authorised officer to take possession of property confirmed as attached or frozen by the Adjudicating Authority, prescribing distinct procedures for movable assets (physical deposit, sale with judicial leave, bank deposit or transfers), immovable assets (notice to registrar, eviction, rent collection, acceptance of fixed deposit security for shares, constructive possession of productive assets with deposit of gross income), service by prescribed forms and publication, retention of property in court custody or by financial institutions subject to further orders, and maintenance of registers for recorded custody.
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.
Possession of attached property: rules require authorised officers to secure, deposit, transfer or sell confirmed assets and preserve proceeds.
Rules require the Director or an authorised officer to take possession of property confirmed as attached or frozen by the Adjudicating Authority, prescribing distinct procedures for movable assets (physical deposit, sale with judicial leave, bank deposit or transfers), immovable assets (notice to registrar, eviction, rent collection, acceptance of fixed deposit security for shares, constructive possession of productive assets with deposit of gross income), service by prescribed forms and publication, retention of property in court custody or by financial institutions subject to further orders, and maintenance of registers for recorded custody.
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