The Union Home Ministry issued a notification classifying assets in India belonging to people who migrated to Pakistan during Partition and China during the war as enemy assets, which have been handed over to the Custodian of Enemy Property for India (CEPI). In total, 12,611 enemy properties worth Rs.1 lakh crore were found, and proceedings for their sale will commence with the help of the District Magistrate and Deputy Commissioners. CEPI will first offer to buy enemy properties worth less than Rs.1 crore from the occupant, and if rejected, they will take possession of the asset as per the procedure laid down in the guidelines. For assets worth less than Rs.1 crore to Rs.100 crore, CEBI will conduct e-auctions through the Metal Scrap Trade Corporation platform. The central government has earned over Rs.3,400 crore from the sale of assets owned by migrated individuals. Of the 12,611 enemy properties, 12,485 belong to Pakistanis, and only 126 are owned by Chinese residents, with West Bengal having the highest number of 4,088 enemy properties identified.
New Delhi: The Union Home Ministry issued a notification yesterday. Assets in India of people who migrated to Pakistan during Partition and China during the war and settled there are classified as enemy assets.
All these assets have been handed over to the Custodian of Enemy Property for India (CEPI).
A total of 12,611 enemy properties were found to be owned by people who had migrated out of India. The value of these is Rs.1 lakh crore.
Proceedings for sale of enemy property will now commence with the assistance of the District Magistrate and Deputy Commissioners.
Accordingly, the custodian (CEPI) will first offer to purchase the enemy properties worth less than Rs.1 crore from the occupant. If the occupier rejects the opportunity, steps will be taken to take possession of the enemy property as per the procedure laid down in the guidelines.
Whereas, if the value of enemy assets is less than Rs 1 crore to Rs 100 crore, CEBI will sell them through electronic auction (e-auction).
For this, CEBI will use Metal Scrap Trade Corporation, an e-auction platform for public sector companies, according to the announcement.
According to officials, the central government has earned more than Rs 3,400 crore from the sale of immovable assets owned by migrants, including stocks and gold.
Of the 12,611 enemy properties identified by CEPI, 12,485 properties are owned by Pakistanis. Only the remaining 126 properties belong to Chinese residents. There are 67 enemy properties in Tamil Nadu, 71 in Kerala and 24 in Karnataka.
West Bengal has the highest number of 4,088 enemy properties identified.