(Customs) Guidelines for the Sale of Seized/ Confiscated Gold
- Reference to the procedure for disposal of seized/ confiscated gold prescribed vide Ministry's letter F. No. 711/164/93-CUS (AS) dated 08.08.2005. In addition to the State Bank of India, the sale of seized/ confiscated gold found ripe for disposal can be routed through all Public Sector Banks (approved by RBI to import and sell gold), MMTC Ltd. and STC Ltd.
- All the other conditions prescribed in the Ministry's letter vide F. No. 711/164/93-CUS (AS) dated 08.08.2005 shall be followed.
- Board desires that all Custom Houses should take urgent steps to dispose of seized/confiscated gold as per the guidelines above.