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Prevention of Money-laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013.

Money Laundering - 10/2013 - Dated:- 19-8-2013 - MINISTRY OF FINANCE (Department of Revenue) Notification No. 10/2013 New Delhi, Dated 19-8-2013 GSR 558(E),-In exercise of the powers conferred by sub-section (1) read with clause (ee) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby makes the following rules relating to the procedure and manner of taking possession of attached or frozen properties confirmed by the Adjudic .....

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s prohibition of transfer, conversion, disposition or movement of property by an order issued under sub-section (1) of section 5 of the Act; (d) "Authorized Officer" means an officer authorized by the Director under sub-section (1) of section 5 of the Act; (e) "Form" means the Forms appended to these rules; (f) "frozen" means a record or property frozen under sub-section (1A) of section 17 of the Act; (g) "order" means an order made by the Adjudicating Aut .....

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een confirmed by the Adjudicating Authority under sub-section (3) of section 8, the Director or any other officer authorised by him in this behalf shall forthwith take the possession of the property or record in the manner prescribed in these rules. Manner of taking possession of movable property 4. (1) Where the attached property confirmed under sub-section (3) of section 8 of the Act is a movable property, the authorized officer shall take physical possession of such property and deposit it in .....

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xed deposit and retain the receipt thereof: Provided that where the owner of the property furnishes the fixed deposit receipt of a nationalised bank equivalent to the value of property in the name of Director of Enforcement, the authorised officer may accept and retain such fixed deposit receipt as security and send a report to the Special Court or Adjudicating Authority, as the case may be, for information and appropriate action: Provided further that where the movable property is a mode of con .....

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irmed by the Adjudicating Authority consists of cash, Government or other securities or bullion or jewellery or other valuables, the authorized officer shall cause to deposit it in a locker in the name of the Director of Enforcement or in the form of fixed deposit receipt, as the case may be, in State Bank of India or its subsidiaries or in any nationalised bank and retain the receipt thereof. (4) Where the attached property confirmed by the Adjudicating Authority is in the form of shares, deben .....

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rectorate of Enforcement. Manner of taking possession of immovable property 5. (1) Where the immovable property confirmed by the Adjudicating Authority is in the form of a land, building, house, flat, etc., a notice shall be issued to the Registrar having jurisdiction of the area alongwith the provisional attachment order and order of the Adjudicating Authority confirming such attachment requiring the Registrar not to transfer or create any interest in such property until further orders and a co .....

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ed and the possession shall be taken by seeking the assistance of the local Authorities in terms of section 54 of the Act. (3) Where the immovable property confirmed by the Adjudicating Authority is in the form of a land, building, house, flat, etc., and is given on lease or rent to a third party which is registered in accordance with the provisions of section 17 of the Registration Act, 1908, the authorized officer shall issue a direction to the occupant to pay the lease amount or rent in the f .....

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n terms of section 54 of the Act; (5) Where the immovable property confirmed by the Adjudicating Authority is in the form of a land, building, house, flat, etc., and is under joint ownership, the authorized officer may accept the equivalent value of fixed deposit to the extent of the value of the share of the concerned person in the property estimated by the authorized officer, to be involved in money laundering; and (6) Where the immovable property confirmed by the Adjudicating Authority is in .....

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hall serve a notice on all the concerned parties for taking possession of immovable property in Form I, appended to these rules and affix the same at conspicuous part of such property and shall also be served by publication in a local newspaper. (2) The authorized officer, for taking possession of property which is in the nature of productive asset, shall serve a notice on all concerned parties in Form II, appended to these rules and affix the same at conspicuous part of such property and such n .....

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that such property and any interest or dividend payable thereon may be released in favour of the Directorate of Enforcement. Confirmed attached property hypothecated or mortgaged or pledged to bank, financial institutions, etc. 8. Where the confirmed attached property is hypothecated or mortgaged or pledged to any bank, financial institution, etc., the authorised officer shall direct such bank, financial institution, etc., that such property and any interest or dividend payable thereon shall be .....

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matter shall be referred to the Central Government and the decision of the Central Government shall be final. FORM I (see sub-rule (1) of rule 6) Notice for taking possession under sub-section (4) of section 8 of the Prevention of Money-laundering Act, 2002 (15 of 2003) Whereas the immovable property bearing ……………………………………….. ……………………&he .....

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;……. Whereas the said provisional attachment order was subsequently confirmed by the Adjudicating Authority constituted under section 6 of the Act, vide order dated ……………. in Original Complaint No. ………….. Whereas, in compliance of the provisions contained under sub-section (4) of section 8 of the Act (15 of 2003), the undersigned has taken possession of property/portion ………………&h .....

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e, pledge or otherwise in any manner whatsoever and that all persons be and that they are hereby prohibited and restrained from receiving the same by purchase, gift, mortgage, pledge or otherwise in any manner whatsoever. Issued on this ……………….. day of ……….20 By Order ( ) Deputy Director/Joint Director/Additional Director (Name, designation and office seal) Sub-Zonal /Zonal/Regional office FORM II (see sub-rule (2) of rule 6) Notice .....

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ttachment order No. ……………….. dated ……………….. issued by Deputy Director/Joint Director/Additional Director, Directorate of Enforcement, ………….. Sub-Zonal/Zonal/Regional Office ……………. Whereas the said provisional attachment order was subsequently confirmed by the Adjudicating Authority constituted under section 6 of the Act, vide order No. …&hellip .....

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this Act, and officer in-charge of the said property or concerned with the property shall deposit the gross income and all other monetary benefits accrued therefrom in the Account of the Directorate of Enforcement. I, ……………………………. therefore, order that all concerned are hereby prohibited and restrained until further order of the undersigned from transferring or charging the aforesaid property by sale, gift, mortgage, pl .....

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