Airports Authority of India (Lost Property) Regulations, 2003
Disposal of lost property —(1) If any lost property retained by the incharge of the Airport or Civil Enclave for safe custody under regulation 5 is not claimed within three months from the date on which it was delivered to the Lost Property Office, the incharge of the Airport or Civil Enclave shall dispose of it for a best reasonable price to be determined in consultation with the Government Assessor or Government approved Assessor and in the event of his failure to secure a reasonable price, he shall forthwith report the fact to his superior authority who shall pass such orders as the circumstances/case may require.
(2) Notwithstanding anything contained in sub-regulation (1) above, if any lost property retained by the incharge of the Airport or Civil Enclave under regulation 5 is of a perishable nature, and, if within forty-eight hours from the time when it was found and it was not restored under regulation 6, the incharge of the Airport or Civil Enclave shall dispose of it immediately for a best reasonable price or as deemed fit and maintain record.
(3) Notwithstanding anything contained in sub-regulations (1) and (2), any lost property which is or which becomes objectionable may be destroyed or otherwise disposed of in the following manner:-—
(i) Arms, ammunition and explosives shall be deposited with Police authorities.
(ii) Narcotics, drugs, foreign currency, Indian currency exceeding Rs. 5,000 (Rupees five thousand only) and all items of foreign origin shall be deposited with the Customs authorities against proper receipt.
(iii) Official documents including licenses, passports and aliens if not claimed by the bona fide claimant within three months * * * be returned to the appropriate Government Department, Local Authority or other body or person responsible for issuing them or for controlling or dealing with them.
(4) A person whose property has been disposed of under these regulations, shall upon proper verification, be entitled to receive the proceeds of the sale, if any, after deduction of reasonable expenses, which shall not exceed 25 per cent. of the sale proceeds of the item found and auctioned by the Airport Authority of India.