120. Forfeiture of property in certain cases.

(1) The Court may, after considering the explanation, if any, to the notice issued under section 119, and the materials available before it and after giving to the person affected (and in a case where such person is absent, to him through his advocate, if any) a reasonable opportunity of being heard, by order, record a finding whether all or any of the properties in question are proceeds of crime:

Provided that if the person to whom the notice has been issued under section 119 does not appear before the Court or does not make any representation, the Court may proceed to record such finding as it deems fit.

(2) Where the Court is satisfied that some of the properties referred to in the notice under section 119 are proceeds of crime but it is not possible to identify specifically such properties, it shall make an order of forfeiture in respect of such part of the properties as it deems fit.

(3) Where the Court orders the forfeiture of any property under this section, it shall direct the Central Government or the State Government, as the case may be, to take possession of such property.