You are viewing the translated version of To Order For Freezing Assets.

Section 18
To Order For Freezing Assets
(1) The Department or investigation officer may give order to the concerned entity to prevent any transfer, pledge, sale/disposal of  the assets collected by offence for a time period fixed, if it is deemed in the course of investigation and inquiry or there are reasonable grounds at hand that he/she may transfer, sale/dispose or conceal or transform such assets by any manner.
(2) In case a written request is made to freeze assets pursuant to Sub- Section (1), the concerned entity shall freeze/withhold such assets preventing its
transfer or pledge or sale/disposal.
(3) The Department may impose fine to the chief of the concerned entity, who does not freeze the assets in contravention to the order pursuant to Sub-
Section (1), up to fifty thousand rupees as per the report of the investigation officer.