(1) Where the Lokayukta has reason to believe and the reason for such belief is to be recorded in writing, on the basis of material in his possession, that,-
(a) any person is in possession of any proceeds of corruption;
(b) such person is accused of having committed an offence relating to corruption; and
(c) such proceeds of offence are likely to be concealed, transferred or dealt with in any manner which may result in frustrating any proceedings relating to confiscation of such proceeds of offence,
the Lokayukta may direct to file an application, stating the facts for prohibiting the alienation of assets, before the Special Court and make a prayer for prohibiting the alienation of such assets till completion of the proceedings against the public servant in the Special Court.
(2) The Special Court may, if it is of the opinion that the property mentioned in the application had been acquired through corrupt means, make an order prohibiting the alienation of such property till the completion of the proceedings against the public servant in the Special Court.
(3) If the public servant is subsequently acquitted of the charges framed against him, the Special Court shall rescind the order prohibiting the alienation of the property.
(4) If the public servant is subsequently convicted of the charges of corruption, the proceeds relatable to the offence under the Prevention of Corruption Act, 1988 (49 of 1988) shall be confiscated and vest in the State Government.