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India to auction 9,400 'enemy' properties of Pakistanis,
Chinese


By APP

PHOTO: AFP

BEIJING: More than 9,400 ‘enemy’ properties, left behind by people who obtained citizenship in Pakistan or China, are set to be auctioned by the Indian government following an amendment to the Enemy Property Act.

The ‘enemy’ property refers to any property belonging to, held or managed on behalf of an enemy, an enemy subject or an enemy firm, Global Times reported while quoting Indian media on Thursday.

The amendment to India’s 49-year-old Enemy Property (Amendment and Validation) Act has renewed concerns over the security of Chinese-owned assets and posed an obstacle for the Indian government, which hopes to draw more overseas investment by enacting sweeping economic reforms.

Although the act mainly applies to heirs of enemy property, ensuring that the descendants of those who emigrated to Pakistan and China during the Partition and afterwards will have no claim over property left behind in India, there is certainly reason for concern.

If China and India become involved in a military conflict, the assets of Chinese companies doing business in India may be confiscated by the Indian government.

It is understandable that some Chinese investors feel uneasy, although Sino-Indian relations have improved slightly since last year when a military standoff soured bilateral ties.

In recent years, many Chinese companies, including smart phone maker Xiaomi and computer producer Lenovo, have turned their eyes toward India.

In 2016, China’s direct investment in India was reportedly several times the level of the previous year.

This investment created many jobs for young people in India, which faces an unemployment dilemma. However, increasing investment doesn’t necessarily mean that Chinese companies were unaware of the risks involved. Some Chinese people were scared during the border standoff.

If India cannot reassure Chinese investors by taking steps to ensure the safety of their assets or personnel, the amendment to the Enemy Property Act will hit investor confidence.

Ramped-up economic reforms, such as making efforts to lure foreign investment and replacing several other taxes with the Goods and Services Tax, have been launched by the administration of the Indian prime minister to make India an attractive destination for foreign capital.

But if the Enemy Property Act sparks alarm among Chinese investors and hinders India’s efforts to make itself a sound investment destination, all these other attempts would have been in vain.

To rebuild investor confidence, India requires legal reform. Confiscating assets left behind by people who took citizenship of China can easily be viewed by the public as a hostile act against China and damage China’s outbound investment toward India.

Source: The Express Tribune, January 19, 2018


Government plans to auction 'enemy' properties worth rs 1 lakh crore

Government plans to auction 'enemy' properties worth
Rs 1 lakh crore

PTI

TOI file photo used for representation only

NEW DELHI: Over 9,400 'enemy' properties, worth more than Rs 1 lakh crore, are set to be auctioned with the home ministry starting the process of identifying all such estates, officials said.

The properties were left behind by people who took citizenship of Pakistan and China.

The move came after the amendment of the 49-year-old Enemy Property (Amendment and Validation) Act which ensured that the heirs of those who migrated to Pakistan and China during Partition and afterwards will have no claim over the properties left behind in India.

At a recent meeting, Union Home Minister Rajnath Singh was informed that the survey of 6,289 enemy properties has been completed and that of the remaining 2,991 properties which are vested with the custodian will be completed, a home ministry official told PTI.

Singh directed that those properties which are free from encumbrance should be disposed of quickly for monetisation.

The estimated value of these 9,400 properties is around Rs 1 lakh crore and when they are sold off, it would be a huge windfall for the government, another official said.

Similar properties in Pakistan belonging to Indians have already been disposed of.

Nodal officers are being appointed by state governments to coordinate identification, vesting and valuation of enemy properties, the official said.

Among the 9,280 properties left behind by Pakistani nationals, the highest 4,991 properties are located in Uttar Pradesh followed by West Bengal which has 2,735 such estates.

There are 487 such properties in Delhi.

Among the 126 properties left behind by Chinese nationals, the highest 57 are located in Meghalaya followed by West Bengal with 29. Assam has seven such properties.

According to the new Act, 'enemy property' refers to any property belonging to, held or managed on behalf of an enemy, an enemy subject or an enemy firm.

The government has vested these properties in the Custodian of Enemy Property for India, an office instituted under the central government.

After the Indo-Pakistan War of 1965, the Enemy Property Act was enacted in 1968, which regulates such properties and lists the custodian's powers.

The government amended the Act in the wake of a claim laid by the heirs of Raja Mohammad Amir Mohammad Khan, known as Raja of Mahmudabad, on his properties spread across Uttar Pradesh and Uttarakhand.

Source: Hundustan Times, Jan 15, 2018

India set to auction ‘enemy’ properties of Pakistani
nationals worth 1 lakh crore

BY APP

ISLAMABAD: The Indian government has decided to auction properties worth one trillion rupees, belonging to over 9,400 people, mostly Pakistani nationals, designating them as enemy properties on the pretext that these people have left the country.

According to Kashmir Media Service (KMS), the Indian home ministry has started the process of identifying these properties. The move came after the amendment of the 49-year-old Enemy Property (Amendment and Validation) Act which ensured that the heirs of those who migrated to Pakistan and China during the partition and afterwards will have no claim over the properties left behind in India.

“At a recent meeting, Indian Home Minister Rajnath Singh was informed that a survey of 6,289 enemy properties had been completed and that of the remaining 2,991 properties vested with the custodian would be completed,” a home ministry official told media.

Singh directed that properties which were free from encumbrance should be disposed of quickly for monetisation. Another official told the media that the estimated value of these 9,400 properties is around Rs 1 lakh crore, which will prove to be a windfall for the government once they are sold off.

Among the 9,280 properties left behind by Pakistani nationals, the highest 4,991 properties are located in Uttar Pradesh followed by West Bengal which has 2,735 such estates. There are 487 such properties in Delhi and among the 126 properties left behind by Chinese nationals, the highest 57 are located in Meghalaya followed by West Bengal with 29. Assam has seven such properties.

According to the new Act, ‘enemy property’ refers to any property belonging to, held or managed on behalf of an enemy, an enemy subject or an enemy firm.

Source: Pakistan Today, JANUARY 15, 2018












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