'Enemy property' refers 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-Pakistani War of 1965, the Enemy Property Act was enacted in 1968, which regulates such properties and lists the Custodian's powers.
The first ordinance was issued on January 1, and another one was issued on April 2, that lapses on Sunday.
The promulgation of the ordinance for the third time was necessitated as 'The Enemy Property (Amendment and Validation) Bill, 2016', to replace the ordinance, is pending in the Rajya Sabha and to give continuity to the second executive order issued in April.
The bill was passed by Lok Sabha on March 9. However, it could not get Rajya Sabha nod from where it was referred to a Select Committee. The Committee has recently submitted its report. An ordinance lapses after 42 days from the day a session begins unless a bill to replace it is approved by Parliament.
The amendments are aimed at plugging the loopholes in the Act to ensure that the enemy properties that have been vested in the Custodian remain so and do not revert to the enemy subject or enemy firm.
Enemy properties have been spread across many states in the country.
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