When any property is produced before any Criminal Court during any inquiry or trial, the Court may make such order as it thinks fit for the proper custody of such property pending the conclusion of the inquiry or trial, and, if the property is subject to speedy and natural decay, or if it is otherwise expedient so to do, the Court may, after recording such evidence as it thinks necessary, order it to be sold or otherwise disposed of.

   Explanation.—For the purposes of this section, “property” includes—

   (a)  property of any kind or document which is produced before the Court or which is in its custody;

   (b)  any property regarding which an offence appears to have been committed or which appears to have been used for the commission of any offence.