The Residence Ministry has designated 44 senior officers from the central, state and Union Territory governments, aside from entities just like the Reserve Financial institution of India (RBI) and Securities and Trade Board of India (SEBI), to function nodal authority for seizure of funds and different monetary belongings held by anybody engaged in or supporting terrorism.
As per official memorandum of the counter terrorism and counter radicalisation unit of the ministry, the nodal officers have been designated for the implementation of part 51(A) of the Illegal Actions (Prevention) Act (UAPA), 1967, below which powers of the central authorities are delegated to state, immigration and regulatory authorities to freeze, seize or connect funds or financial assets below anti-terror legal guidelines.
The nodal officers had been appointed from among the many regulatory authorities – RBI, Insurance coverage Regulatory Growth Authority of India (IRDA), SEBI and Monetary Intelligence Unit (FIU) – who present an inventory of designated people and entities to banks, inventory exchanges and insurance coverage corporations for blocking funds, monetary belongings of these designated below the anti-terror act.
“The 44 nodal officers who’ve been designated will assist the legislation enforcement businesses to grab funds and different monetary belongings held by anybody engaged in terrorism or supporting such violent acts,” a senior residence ministry official informed NDTV.
After the 2008 Mumbai assaults, the anti-terror legislation UAPA was amended to insert part 51(A) with a view to empower states and regulatory authorities to grab, freeze belongings of particular person and entities engaged in terrorism.
The Ministry of Exterior Affairs supplies an inventory of people and entities, topic to UN sanction, which is additional shared by the Residence Ministry with the states and the Union Territories, the official added.
Just lately anti-terror probe company NIA has seized quite a lot of properties belonging to Kashmiri separatists leaders and people who had been discovered to have supported terror actions with illicit cash within the northeast that embody an MLA. Equally, completely different state police forces have additionally connected funds and properties of individuals supporting terrorism previously.