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Special provisions relating to assets held outside India in contravention of section 4

Section 37A - FEMA - Section 37A - 1[ 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 writing, by an order, seize value equivalent, situated within India, of such foreign exchange, foreign security or immovable p .....

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hirty days from the date of such seizure. (3) The Competent Authority shall dispose of the petition within a period of one hundred eighty days from the date of seizure by 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 lea .....

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