Procedure for disposal of unclaimed / uncleared cargo under section 48 of the Customs Act, 1962, lying with the custodians – regarding

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.... a number of measures to ensure expeditious disposal unclaimed/ uncleared cargo lying in Air cargo Complexes/Ports/ ICDs/CFSs/LCSs . 2 The custodians have brought to the notice of the Board that considerable time is being taken by Customs in fixing the fair price which eventually delays the process of fixing the "Reserve Price" by the custodian. At time the reserve price is so high that the goods are not sold even in three auctions and over a period of time the quality of goods deteriorates. 3 The matter has been examined by the Board. In order to ensure expeditious disposal of unclaimed/ uncleared cargo, under section 48 of the Customs Act, 1962, and landed upto 31.3.2003, and lying with custodians, whether in the private or public sec....

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....the product line. In case any request is made by the custodians, the Customs shall make available to the custodian the services of an Appraiser to serve on the panel. In cases of doubt, the same may be referred to a panel of three valuers whose decision shall be final. (v) The customs will not insist on complete and detailed inventory of the contents of the consignments to be drawn in their presence. They shall, instead choose 10% consignments for which detailed inventory shall be made in their presence for sample check. (vi) The disposal of the goods shall be made by public auction. The date of the public auction should be adequately publicized in advance through national newspapers (both in English and Hindi) as well as in at least ....