President Pranab Mukherjee has reservations for ordinance route to amend Enemy Property 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, under the Act in 1968, an office instituted under the Central government.

As per the proposed amendments, once an enemy property is vested in the Custodian, it shall continue as such, irrespective of whether the enemy, enemy subject or enemy firm has ceased to be one due to reasons such as death.

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(Sourced from agencies, feature image courtesy:oneindia.com)