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Section 4: Management of confiscated property

The Fugitive Economic Offenders (Manner and Conditions for Receipt and Management of Confiscated Properties) Rules, 2018.Central Rules · 2018

(1) Where the confiscated property is of such a nature that its removal from the place of attachment is impracticable or its removal involves expenditure out of proportion to the value of the 22 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] property, the Administrator shall arrange for the proper maintenance and custody of the property at the place of attachment.

(2) If the confiscated property consists of cash, Government or other securities, bullion, jewellery or other valuables, the Administrator shall deposit such cash, securities, bullion, jewellery or other valuables, for safe custody in the nearest Government Treasury or the office of the Reserve Bank of India or a branch of the State Bank of India or a branch of any authorised bank.

(3) The Administrator shall maintain a register containing the details of immovable property referred to in sub-rule

(1), in Form I and details of moveable properties, such as cash, Government or other securities, bullion, jewellery or other valuables referred to in sub-rule(2), in Form II.

(4) The Administrator shall obtain a receipt from the Government Treasury or the Reserve Bank of India or the State Bank of India or any authorised bank, as the case may be, against the deposit made in sub-rule (2).

FORM I [See sub-rule (3) of rule 4] MANAGEMENT OF CONFISCATED PROPERTY (IMMOVEABLE)

1. Order Number:

2. Date of receipt of properties:

3. Description of properties: (In case of land: area, survey number, plot number, location and complete address. In case of building: house number, location and complete address):

4. Name(s) and address(es) of the fugitive economic offender :

5. Remarks of the Administrator:

Signature of the Administrator ......................................................

Name and designation of the Administrator Date...........................

FORM II [See sub-rule (3) of rule 4] MANAGEMENT OF CONFISCATED PROPERTY (MOVEABLE)

1. Order number:

2. Date of receipt of properties:

3. Description of properties (quantity, amount, estimated value) :

4. Name(s) and address(es) of the fugitive economic offender :

5. Name and address of the Government Treasury or the office of the Reserve Bank of India or the branch of the State Bank of India or the branch of any authorised bank where the properties are deposited for safe custody:

6. Date and time of deposit of confiscated properties in the Government Treasury or the Reserve Bank of India or the State Bank of India or any authorised bank:

7. Receipt number with date of the receipt obtained from the Government Treasury or the Reserve Bank of India or the State Bank of India or the authorised bank:

8. Remarks of the Administrator:

Signature of the Administrator ......................................................

Name and designation of the Administrator Date...........................

[F. No. 6/3/2017-FSLRC] Dr. SHASHANK SAKSENA, Adviser (FSRL) Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Where this provision sits

ActThe Fugitive Economic Offenders (Manner and Conditions for Receipt and Management of Confiscated Properties) Rules, 2018.
Section4
Marginal noteManagement of confiscated property
JurisdictionCentral
StatusIn force as published by the source

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