The government is poised for a windfall of over Rs 2,000 crore in the current fiscal through the sale of assets, including shares, seized by various government agencies after the 1991 stocks scam.
Officials said the income tax department had the first charge on the seized assets. Banks and financial institutions have second charge, all other claimants follow.
The custodian of the assets started auctioning them in October 2001, and the process gathered steam in 2002-03. The custodian has so far deposited over Rs 1,000 crore in various banks.
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This includes cash seized during raids, the dividend income on the shares in its custody and the interest earned on the cash deposits over the last decade.
The custodian handed over Rs 400 crore in 2001-02 to the income-tax department and another Rs 550 crore in 2002-03.
The total outstandings of the income-tax department are about Rs 3,000 crore for the period April 1, 1991 to June 6, 1992.
Revenue department officials said the realisation of dues from various parties involved in the 1991 scam was long overdue.
With the government likely to appoint more judges to hear cases pertaining to the scam, the process could be expedited, they said.