Section 27. Magistrate may detain property and issue proclamation.

(1) Such Magistrate may detain the property and issue a proclamation, specifying the articles of which it consists, and requiring any person who has any claim thereto to appear and establish his right to the same within six months from the date of such proclamation. (2) The provisions of section 525 of the 1[Code of Criminal Procedure, 1973 (2 of 1974)], shall be applicable to property referred to in this section. (3) If within the period limited in such proclamation any claim is preferred to such property or proceeds thereof, such Magistrate may make such order as he thinks fit respecting the disposal of such property or proceeds or the delivery of such property or proceeds to the person, entitled to the possession thereof.