Govt can retain excess auction sale proceeds of confiscated goods: SC

Gillette India Ltd. Vs Commissioner of Customs & Ors. (Delhi High Court) (a) Once there is a failure to pay the redemption fine in lieu of confiscation as determined under Section 125 of the Customs Act, 1962, within the time stipulated, the consequence of the ‘confiscation’ becoming absolute and the confiscated goods vesting absolutely in the central government inevitably has to follow in terms of Section 126 of the Act. The consequence is the same whether the goods are “prohibited goods” or “other goods”. (b) Sections 125 and 126 of the Customs Act, 1962 form one cont...