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

Section 37A - Acts - 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 pro .....

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vable property: Provided that no such seizure shall be made in case where the aggregate value of such foreign exchange, foreign security or any immovable property, situated outside India, is less than the value as may be prescribed. (2) The order of .....

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od of thirty 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 opport .....

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at least thirty days shall be granted from the date of communication of vacation of such stay order. . (4) The order of the Competent Authority confirming seizure of eqivalent asset shall continue till the disposal of adjudication proceedings and th .....

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