Confiscated property management requires identification, custodial deposit in authorized banks and maintenance of statutory registers. An Administrator must identify confiscated property on receipt, ensure custody or on site maintenance where removal is impracticable, deposit cash, securities, bullion, jewellery and other valuables in the nearest Government Treasury, Reserve Bank, State Bank or authorized bank with a receipt, and maintain a Movable Property Register (Form I) and an Immovable Property Register (Form II) recording specified particulars; the Central Government may provide assistance to the Administrator and has final authority on rule interpretation.
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.
Confiscated property management requires identification, custodial deposit in authorized banks and maintenance of statutory registers.
An Administrator must identify confiscated property on receipt, ensure custody or on site maintenance where removal is impracticable, deposit cash, securities, bullion, jewellery and other valuables in the nearest Government Treasury, Reserve Bank, State Bank or authorized bank with a receipt, and maintain a Movable Property Register (Form I) and an Immovable Property Register (Form II) recording specified particulars; the Central Government may provide assistance to the Administrator and has final authority on rule interpretation.
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