Any Financial Establishment or person, whose property has been or is about to be attached under this Act may, at any time, apply to the Designated Court for permission to give security in lieu of such attachment and where the security offered and given is, in the opinion of the Designated Court, satisfactory and sufficient, it may cancel the ad-interim order of attachment or, as the case may be, refrain from passing the order under sub-section (6) of section 9.
Section 11: Security in lieu of attachment.
The Jammu and Kashmir Protection of Interests of Depositors (in Financial Establishments) Act, 2018Union territory Act of Jammu and Kashmir · Act 13 of 2018
Where this provision sits
| Act | The Jammu and Kashmir Protection of Interests of Depositors (in Financial Establishments) Act, 2018 |
|---|---|
| Section | 11 |
| Marginal note | Security in lieu of attachment. |
| Jurisdiction | Union territory of Jammu and Kashmir |
| Status | In force as published by the source |
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