KATHMANDU, NOVEMBER 23
The Faulty Assets Management Unit recently established under the Ministry of Home Affairs has started performing its duties and responsibilities in line with the 'Offence-related Assets and Goods (Withholding, Control, and Confiscation) Regulation'.
The unit has been mandated to seize goods and assets involving criminal offence. According to a report published by the MoHA, Nepal Police or constitutional bodies, on behalf of the unit, may interrogate the relevant person or carry out raids in suspicious places if there is reasonable ground to believe that the assets and goods possessed from criminal offence are concealed there. If any goods or assets are found during investigation or raid, investigation officer will confirm whether they are related to the offence or not based on the records maintained in government agencies and source of income of the concerned person.
In a case where the goods or assets are found to be obtained by committing an offence, the investigation officer will have to initiate the process of withholding or taking control of them so that they cannot be transferred to others.
Likewise, the valuation of seized goods or assets will be carried out by a five-member valuation committee headed by chief of the unit. Its other members include representatives from the Office of the Attorney General, Public Procurement Monitoring Office, Financial Comptroller General Office and account officer of the unit. The valuation will be based on their present condition and market value. As per the report, the unit may seek the help of any government agency, local level or person for valuation of goods or assets as per necessity.
The details of goods or assets withheld or controlled by the investigation officer will be sent to the concerned district administration office. The DAO may auction withheld goods or assets controlled and confiscated in accordance with the law. "Any person wishing to buy goods or assets through auction should deposit 20 per cent of their total valuation in the bank account as prescribed by the DAO for further processing," the MoHA said. The government may also bring them into use for other purposes without auctioning them if required. If the goods or assets related to criminal offence are not usable and auctionable, they can be destroyed.
A version of this article appears in the print on November 24, 2022 of The Himalayan Times.
