(1)The proper officer shall prepare a list of movable and immovable property belonging to the defaulter, estimate their value as per the prevalent market price andissue an order of attachmentor distraint and a notice for sale in FORM GST DRC- 16 prohibiting any 870(4) Femara UerTa, feain 5 SPP 2017 transaction with regard to such movable and immovable property as maybe required for the recovery ofthe amount due:
Provided that the attachment ofeny property in a debt not secured by a negotiable instrument, a share in a corporation, or other movable property not in the possession ofthe defaulter except for property deposited in, or in the custody of any Court, shall be attached in the manner provided in rule 151.
(2) The proper officer shall send a copy of the order of attachment or distraint to the concerned Revenue Authority or Transport Authority or any such Authority to place encumbrance on the said movable or immovable property, which shall be removed only on the written instructions from the proper officer to that effect.
(3)Wherethe property subject to the attachment or distraint undersub-rule( 1) is-
(a) an immovable property, the order of attachmentor distraint shall be affixed on the said property and shall remain affixed till the confirmation of sale;
(b)a movable property, the properofficeshall seize the said propertyin accordance with the provisions of chapter XIV of the Act and the custody ofthe said property shall either be taken by the proper officer himself o1 an officer authorised by him.
(4)The property attached or distrained shall be sold through auction, including e-auction, for which a notice shall be issued in FORMGST DRC- 17 clearly indicating the property to be sold and the purposeofsale.
(5) Notwithstanding anything contained in the provision of this Chapter, where the property to be sold is a negotiable instrumentor a share in a corporation, the proper officer may, instead of selling it by public auction, sell such instrument or a share through a broker and the said broker shall deposit to the Government so much of the proceeds of such sale, reduced by his commission, as maybe required for the discharge of the amount under recoveryand pay the amountremaining,if any, to the owner of such instrument ora share.
(6) The properofficer mayspecify the amount of pre-bid deposit to be furnished in the manner specified by such officer, to make the bidders eligible to participate in the auction, which maybe returned to the unsuccessful bidders or, forfeited in case the successful bidder fails to make the payment ofthe full amount, as the case may be.
(7)Thelast day for the submissionof the bid or the date ofthe auction shal] not be carlier than fifteen days from the date of issue of the notice referred to in sub-rule (4):
Provided that where the goodsare of perishable or hazardous nature or where the expenses ci keeping them in custody are likely to exceed their value, the proper officer may sell them forthwith.
(8)Where any claim is preferred or any objection is raised with regard to the attachment or distraint of any property on the ground that such property is not liable to such attachment or distraint, the proper officer shall investigate the claim or objection and maypostpone the sale for such time as he may deem fit.
(9)The person making the claim or objection must adduce evidence to showthat on the date of the order issued under sub-rule (1) he had someinterest in, cr was in possession of, the property in question underattachment or distraint.
(10)Where, upon investigation, the properofficer is satisfied that, for the reason stated in the claim or objection, such property was not, onthe said date, in the possession ofthe defaulter or of any other person on his behalf or that, being in the possession of the defaulter on the said date,it was in his possession, not on his own account or as his own property, but on accountofor in trust for any other person, or partly on his own accountand partly on account of some other person, the properofficer shall make an order releasing the property, wholly or to such extent as he thinksfit, from attachmentor distraint.
(11)Wherethe properofficeris satisfied that the property was, on the said date, in the possession ofthe defaulter as his own property and not on account of any other person, or was in the possession of some other person in trust for him, or in the occupancy ofa tenant or other person paying rent to him,the proper officer shall reject the claim and proceed with the process of sale through auction.
HeagesT Wotaa, festa 5 sret 2017 870 (5)
(12)The properofficer shall issue a notice to the successful bidder in FORM GST DRC-11 requiring him to make the payment within a period of filteen cays fons the date of such notice and after the said payment iS made, he shall issue a certificate in FORM GST DRC-12 specifying the details of the property, date oftransfer, the details ofthe bidder and the amountpaid and upon issuance of such certificate, the rights, title and interest in the property shall be deemedto be transferred to such bidder:
Providedthat where the highest bid is made by more than one person and one ofthemis a co-ownerof the property, he shall be deemedto be the successful bidder.
(13) Any amount, including stamp duty, tax or fee payable in respectofthe transfer of the property specified in sub-rule (12), shall be paid to the Government by the person to whomthetitle in such property is transferred.
t under recovery, including any cxpenses incurred on the process of
(14)Where the defaulter pays the amoun er shall cancel the process of auction recovery, before the issue of the notice under sub-rule (4), the proper offic and release the goods.
(15)The proper officer shall cancel the process and proceed for re-auction where no bid is received or the auction is considered to be ncn-competitive due to lack of adequate participation or due to lowbids.