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

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..../2004-Cus.IV (Pt.II) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs December 09, 2005 Subject:- Procedure for disposal of unclaimed/ uncleared cargo under section 48 of the Customs Act, 1962, lying with the custodians - regarding I am directed to invite your attention to the Board's Circular No. 50/2005-Cus dated 01.12.2005 on d....

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....nt approved valuers appointed by the Custodian. Customs shall not associate itself with the valuation of the such goods lying uncleared with the custodian. However, both reserve price and bids would be approved by the Customs. Further, if these goods remain unsold and pass into the category of landed-more-than-one-year-prior, then the custodians can sell the same following the independent procedur....