Seizure, Disposal & Confiscation of Article or Currency or Security - FCRA - Ready Reckoner - FEMA

Seizure, Disposal Confiscation of Article or Currency or Security Seizure of article or currency or security received in contravention of the Act [ Section 25 of FCRA, 2010 ] If any gazetted officer, authorised in this behalf by the Central Government has any reason to believe that any person has in his possession or control any article exceeding the value specified in section 2(1)(h)(i) or currency or security whether Indian or foreign, in relation to which any provision of this Act has been or is being, contravened, he may seize such article or currency or security. Disposal of seized article or currency or security [ Section 26 of FCRA, 2010 ] The Central Government, may, having regard to the value of article or currency or security, their vulnerability to theft or any relevant consideration, by notification, specify such article or currency or security which shall, as soon as may be after their seizure, be disposed of by such officer and in such manner, as the Central Government may, from time to time, determine after following the procedure hereinafter specified. [ Section 26(1) of FCRA , 2010 ] The article or currency or security seized shall be forwarded without unnecessary delay to such officer as may be specified. [ Section 26(2) of FCRA , 2010 ] Where any article or currency or security has been seized and forwarded to such officer, the officer referred to in section 26( 1 ), shall prepare an inventory of such article or currency or security containing such details relating to their description, value or such other identifying particulars as the officer referred to in that sub-section may consider relevant to the identity of the article or the currency or security and make an application to any Magistrate for the purposes of certifying the correctness soft he inventory so prepared. [ Section 26(3) of FCRA , 2010 ] Where an application is made under section 26( 2 ), the Magistrate shall, as soon as may be, allow the application. [ Section 26(4) of FCRA , 2010 ] Notwithstanding anything contained in the Indian Evidence Act, 1872 or the Code of Criminal Procedure, 1973 , every court trying an offence under this Act, shall treat the inventory, as certified by the Magistrate, as primary evidence in respect of such offence. [ Section 26(5) of FCRA , 2010 ] Every officer acting under section 26( 3 ) shall forth with report the seizure to the Court of Session or Assistant Sessions Judge having jurisdiction for adjudging the confiscation under section 29. [ Section 26(6) of FCRA , 2010 ] Seizure to be made in accordance of Code of Criminal Procedure,1973 [ Section 27 of FCRA, 2010 ] The provisions of the Code of Criminal Procedure, 1973 shall apply in so far as they are not inconsistent with the provisions of this Act to all seizures made under this Act. Confiscation of article or currency or security obtained in contravention of the Act [ Section 28 of FCRA, 2010 ] Any article or currency or security which is seized under section 25 shall be liable to confiscation if such article or currency or security has been adjudged under section 29 to have been received or obtained in contravention of this Act. Adjudication of confiscation [ Section 29 of FCRA, 2010 read with Rule 19 of FC(R) Rules, 2011 ] Under section 29(1) specified threshold limit of officer regarding, any confiscation referred to in section 28 may be adjudged (a) Without limit , the value of such article or the amount of such currency seized by the Court of Session within the local limits of whose jurisdiction the seizure was made; and (b) With Limit, if the value of such article or the amount of such currency seized does not exceed Rs. 10,00,000/-. [ Rule 19 of FC(R) Rules, 2011) ] by a officer, not below the rank of an Assistant Sessions Judge, as the Central Government may, by notification in the Official Gazette, specify in this behalf. [ Section 29(1) of FCRA, 2010 ] Under section 29(2) When an adjudication under section 29( 1 ) is concluded by the Court of Session or Assistant Sessions Judge, as the case may be, the Sessions Judge or Assistant Sessions Judge may make such order as he thinks fit for the disposal by confiscation or delivery of seized article or currency or security, as the case may be, to any person claiming to be entitled to possession thereof or otherwise, or which has been used for the commission of any offence under this Act. Limit to which a judicial officer, not below the rank of an Assistant Sessions Judge may make adjudication or order confiscation [ Rule 19 of FC(R) Rules 2011 ] Judicial officer not below the rank of Assistant sessions judge can adjudicate an order of confiscation [officer referred in section 29(1)(b)] may adjudge confiscation in relation to any article or currency seized under section 25, if the value of such article or the amount of such currency seized does not exceed Rs. 10,00,000 (Ten Lakh only). Procedure for confiscation [ Section 30 of FCRA, 2010 ] No order of adjudication of confiscation shall be made unless a reasonable opportunity of making a representation against such confiscation has been given to the person from who many article or currency or security has been seized.