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Section 4: Amendment in section-9 of the Bihar Act, 18 of 2002

The Bihar Protection of Interest of Depositors (In Financial Establishments) (Amendment) Act, 2017State Act of Bihar · Act 7 of 2017

The following new clause (g) shall be added after clause (f) of sub section (2) of section-9 of the said Act:- "(g) In case the money realized from sale of property attached is not enough to cover the shortfall, the Designated Court may impose fine on every person, including the promoter, partner, director, manager or any other person or an employee responsible for the management of or conducting of the business of the affairs of such Financial Establishment to cover the shortfall as may be necessary for the purpose of repayment to the depositors."

By order of the Governor of Bihar, SURENDRA PRASAD SHARMA, Secretary to Government.

———— अधी*कअधी*कअधी*कअधी*क, सिचवालयसिचवालयसिचवालयसिचवालय मुिणालयमुिणालयमुिणालयमुिणालय, �बहार�बहार�बहार�बहार, पटनापटनापटनापटना �ारा�ारा�ारा�ारा ूकािशतूकािशतूकािशतूकािशत एवंएवंएवंएवं मु/ित।मु/ित।मु/ित।मु/ित। �बहार�बहार�बहार�बहार गजटगजटगजटगजट (असाधारणअसाधारणअसाधारणअसाधारण) 303-571+400-ड%ड%ड%ड%0ट%ट%ट%ट%0पीपीपीपी0।।।। Website: http://egazette.bih.nic.in

Where this provision sits

ActThe Bihar Protection of Interest of Depositors (In Financial Establishments) (Amendment) Act, 2017
Section4
Marginal noteAmendment in section-9 of the Bihar Act, 18 of 2002
JurisdictionState of Bihar
StatusIn force as published by the source

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