Insertion of new section 37A- Special provisions relating to assets held outside India in contravention of section 4

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..... ng to assets held outside India in contravention of section 4 "37A. (1) Upon receipt of any information or otherwise, if the Authorised Officer prescribed by the Central Government has reason to believe that any foreign exchange, foreign security, or any immovable property, situated outside India, is suspected to have been held in contravention of section 4, he may after recording the reasons in .....

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..... either confirming or by setting aside such order, after giving an opportunity of being heard to the representatives of the Directorate of Enforcement and the aggrieved person. Explanation.- While computing the period of one hundred eighty days, the period of stay granted by court shall be excluded and a further period of at least thirty days shall be granted from the date of communication of vaca .....

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..... tatives of the Directorate of Enforcement, shall pass an appropriate order as it deems fit, including setting aside of the seizure made under sub-section (1). (5) Any person aggrieved by any order passed by the Competent Authority may prefer an appeal to the Appellate Tribunal. (6) Nothing contained in section 15 shall apply to this section". -
Statute, statutory provisions legislation, law .....

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