Section 23 in Khadi And Village Industries Commission Employees (Conduct) Regulations, 2003
23. Movable, immovable and valuable property.
(1)(i)Every employee shall on his first appointment submit a return of his assets and liabilities, in such from as may be prescribed by the Commission, giving the full particulars regarding-(a)the immovable property inherited by him, or owned or acquired by him or held by him on lease or mortgage, either in his own name or in the name of any member of his family or in the name of any other person ;(b)shares, debentures and cash including bank deposits inherited by him or similarly owned, acquired, or held by him;(c)other movable property inherited by him or similarly owned, acquired or held by him; and(d)debts and other liabilities incurred by him directly or indirectly.Note 1. - Sub-regulation (1) shall not ordinarily apply to Group 'D' employees but the Chief Executive Officer may direct that it shall apply to any such employee or class of such employees.Note 2. - In all returns, the values of items of movable property worth less than rupees ten thousand may be added and shown as a lumpsum. The value of articles of daily use such as clothes, utensils, crockery, books, etc., need not be included in such return.(ii)Every employee holding any post included in Group 'A' and Group 'B' shall submit an annual return in such form as may be prescribed by the Commission in this regard giving full particulars regarding the immovable property inherited by him or owned or acquired by him or held by him on lease or mortgage either in his own name or in the name of any member of his family or in the name of any other person. This return shall be filed by 31st January for the previous calendar year.(2)No employee shall, except with the previous knowledge of the prescribed authority, acquire or dispose of any immovable property by lease, mortgage, purchase, sale, gift or otherwise either in his own name or in the name of any member of his family :Provided that the previous sanction of the prescribed authority shall be obtained by the employee if any such transaction is with a person having official dealings with him.(3)[ Where an employee enters into a transaction in respect of movable property either in his own name or in the name of the member of his family, he shall, within one month from the date of such transaction and report the same to the prescribed authority, if the value of such property exceeds 2 months' basic pay of the Government or Commission employee:Provided that the previous sanction of the prescribed authority shall be obtained by the employee if any such transaction is with a person having official dealings with him.] [Substituted by Notification No. G.S.R. 707(E), dated 19.7.2016.](4)The Commission or the prescribed authority may, at any time, by general or special order, require an employee to furnish, within a period specified in the order, a full and complete statement of such movable or immovable property held or acquired by him or on his behalf or by any member of his family as may be specified in the order. Such statement, shall, if so required by the Commission or by the prescribed authority, include the details of the means by which, or the source from which, such property was acquired.(5)The Chief Executive Officer may exempt any category of employees belonging to Group 'C' or Group D' from any of the provisions of this regulation except sub-regulation (4).Explanation. I. - For the purposes of this regulation the expression movable property includes-(a)jewellery, insurance policies, the annual premia of which exceeds [two months] [Substituted 'rupees ten thousand or one-sixth of the total annual emoluments received from Commission, whichever is less' by Notification No. G.S.R. 707(E), dated 19.7.2016.], shares, securities and debentures ;(b)all loans, whether secured or not, advanced or taken by the employee ;(c)motor cars, motor cycles, horses or any other means of conveyance; and(d)refrigerators, radios, electric and electronic items.Explanation. II. - For the purposes of this regulation ' lease' means, except where it is obtained from, or granted to, a person having official dealings with the employee, a lease of immovable property from year to year or for any term exceeding one year or reserving a yearly rent.
