Section 7(1) in The Land Ports Authority of India (Lost Property) Regulations, 2015
(1)If any lost property retained by the Manager for safe custody under regulation 5 is not claimed within a period of ninety days from the date on which it was delivered to the In-charge of lost property office, the Manager shall dispose it of for a best reasonable price to be determined in consultation with the Government Assessor or Government approved Assessor if its value is estimated to be over rupees ten thousand 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 may be deemed fit.
