Section 5(2) in The Merchant Shipping (Wrecks and Salvage) Rules, 1974
(2)Where a receiver receives intelligence that a wreck, not being a vessel is found near the coasts of India, he shall, as soon as practicable proceed to the place where such wreck is lying and take possession of the wreck physically. Where it is not practicable to take physical possession of the wreck he shall make a declaration ensure that he has taken possession of the wreck in exercise of his powers under the Act.
