Confiscation of property in certain cases

(1) Where the Authorized Officer has reason to believe that a property is liable to be confiscated, he may, pending the proceedings, pass such orders as he deems fit for the management and protection of such property. (2) If the person concerned refuses to surrender the property, the Authorized Officer may take such steps, including force, as may be necessary for taking possession of the same. (3) In case the property consists of perishable goods or amounts to a situation where the value of the property is likely to depreciate, the Authorized Officer may, after recording reasons, dispose of the property and the proceeds shall be deposited as directed by the Designated Court. None (1) The Authorised Officer may, after considering the explanation, if any, to the show cause notice issued under Section 17 and the materials available before him, and after giving to the person affected (and in case where the person affected holds any money or property specified in the notice through any other person, to such other person also) a reasonable opportunity of being heard, by order, record a finding whether all or any other money or properties in question have been acquired illegally. (2) Where the Authorised Officer specifies that some of the money or property or both referred to in the show cause notice are acquired by means of the offence, but is not able to identify specifically such money or property, then it shall be lawful for the Authorised Officer to specify the money or property or both which to the best of his judgment, have been acquired by means of the offence and record a finding accordingly under sub-section (1). (3) Where the Authorised Officer records a finding under this section to the effect that any money or property or both have been acquired by means of the offence, he shall declare that such money or property or both shall, subject to the provisions of this Act, stand confiscated to the State Government free from all encumbrances : Provided that if the market price of the property confiscated is deposited with the Authorised Officer, the property shall not be confiscated. (4) Where any share in a Company or any other entity stands confiscated to the State Government under this Act, then, the Company shall, notwithstanding anything contained in the Companies Act, 2013 (No. 18 of 2013), or the Articles of Association of the Company or such entity, forthwith register the State Government as the transferee of such share. (5) Every proceeding for confiscation of money or property or both under this Chapter shall be disposed of within a period of six months from the date of service of the notice under sub section (1) of Section 17. (6) The order for confiscation passed under this section shall, subject to the order passed in appeal, if any, under Section 19 be final and shall not be called in question in any Court of law. (1) Where a notice, under sub-section (1) to any person, specified any money or property or both as being held on behalf of such person by any other person, a copy of the notice shall also be served upon such other person. (2) Notwithstanding anything contained in sub-section (1), the evidence, information and particulars brought on record before the Authorised Officer, by the person affected or the State Government shall be open to rebuttal in the trial before the Special Court : Provided that such rebuttal shall be confined to the trial for determination and adjudication of guilt of the offender by the Special Court under this Act. (3) The Authorised Officer may, after considering the explanation, if any, to the show cause notice issued under Section 17 and the materials available before him, and after giving to the person affected (and in case where the person affected holds any money or property specified in the notice through any other person, to such other person also) a reasonable opportunity of being heard, by order, record a finding whether all or any other money or properties in question have been acquired illegally. (4) Where the Authorised Officer specifies that some of the money or property or both referred to in the show cause notice are acquired by means of the offence, but is not able to identify specifically such money or property, then it shall be lawful for the Authorised Officer to specify the money or property or both which to the best of his judgment, have been acquired by means of the offence and record a finding accordingly under sub-section (3). (5) Where the Authorised Officer records a finding under this section to the effect that any money or property or both have been acquired by means of the offence, he shall declare that such money or property or both shall, subject to the provisions of this Act, stand confiscated to the State Government free from all encumbrances : Provided that if the market price of the property confiscated is deposited with the Authorised Officer, the property shall not be confiscated. (6) Where any share in a Company or any other entity stands confiscated to the State Government under this Act, then, the Company shall, notwithstanding anything contained in the Companies Act, 2013 (No. 18 of 2013), or the Articles of Association of the Company or such entity, forthwith register the State Government as the transferee of such share. (7) Every proceeding for confiscation of money or property or both under this Chapter shall be disposed of within a period of six months from the date of service of the notice under sub section (1) of Section 17. (8) The order for confiscation passed under this section shall, subject to the order passed in appeal, if any, under Section 19 be final and shall not be called in question in any Court of law.