Deposit of gold with Mint procedure - Customs - F. No. 711/44/85-Cus.(AS)

Deposit of gold with Mint procedure F. No. 711/44/85-Cus.(AS) Dated 16-4-1987 Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Deposit of gold with Mint Procedure - Regarding. In supersession of the Ministry's letter F. No. 711/44/85-Cus. (A.S.), dated 2-4-1987, the procedure adopted for deposit of confiscated gold and gold ornaments with the Government of India Mint by different Collectorates has been reviewed by the Board. In the interest of improving the present system of inventorisation, verification, security and safety of the gold deposited in the Mint, it has been decided that the following procedure may be adopted in future. (i) While depositing confiscated primary gold/gold ornaments in the Mint, a detailed list of the items such as chains, rings, bangles, primary gold etc. showing the description, weight and purity, itemwise shall be prepared and this shall be consolidated showing aggregate weight of each of the items such as gold bars with foreign markings, primary gold and gold articles/ornaments, separately. In respect of various items of gold ornaments, average purity or the range of purity may be indicated in the inventory in addition to description/quantity of the items. (ii) Gold bars with foreign markings, primary gold and gold articles/ ornaments should be separately packed and sealed for easy verification. (iii) At the time of deposit of the gold, categorywise acknowledgement may be obtained from the Bullion keeper of the Mint so as to ensure that what has been despatched for deposit in the Mint has been duly received intact. If any variation is noticed in respect of quantity/weight of any of the items the matter should be probed to ascertain the reasons. (iv) The package containing the primary gold, articles/ornaments, etc. should be properly locked and sealed before the Asstt. Collector in-charge of preventive/disposal before despatch, and the seal shall be broken only before the authorised officer of the Mint. The fascimile of seals used on the packets should be sent to the Mint in advance or sent under sealed cover marked 'secret' alongwith the gold. (v) In case any damage to the seal is noticed the consignment may be accepted by the Mint with necessary remarks and the matter should be separately reported to the Collectorate concerned for proper enquiry/verification. If any definite evidence regarding tempering of the whole package is noticed the entire consignment should be returned to the Collectorate with suitable remarks. COPY Copy of C.B.R. 7/8/59-Cus. VII, dated 16-4-1960 Subject : Extracts of Chapter 2 (Part VI) of Volume of the Central Appraising Manual. General Requirements: (i) Signatories to Bonds and Letters of Guarantee executed in favour of the Custom House must be duly authorised in this behalf in the application form, duly supported by Power of Attorney, Articles of Memorandum or Partnership Deed etc. as the case may be, and their specimen signatures and authority must have been duly accepted and registered in the Department concerned. (ii) All Bonds and Guarantees presented for acceptance in the Appraising Department must be signed by the party/parties concerned in the presence of the Appraiser or Principal Appraiser, provided the parties signing bonds and guarantees will not be required to appear personally before the Customs Officers when their signatures are attested by :- (a) a Notary Public or (b) a Justice of the Peace, or (c) a Magistrate, or (d) in a Civil Court, and the attestation is confirmed by his official seal. The signatures on bonds and guarantees should invariably by verified from the Department concerned to ascertain that the signatures are of authorised person duly empowered to sign on bonds and guarantees.