Amendment status not verified — confirm the current text below against the official source.
(i) Where the assets available for of properties h f F' · 1 E bl' h malalde attac ment o a 1nancia sta JS ment Traasfcrees. or other person ref erred to in Section 3 are found to be less than the amount or value which such Financial Establish- ment is required to repay to the de- positors and where the Court of District and Sessions Judge is satisfied by affida- vit or otherwise that there is reasonable cause for believing that the said Finan- cial Establishment br.s transferred (whether after the commencement of thi1 Act or not) any of the property otherwise than in good faith and for consideration the Court of District and Sessions Judge may, by notice, require any transferee of such property (whether or nor he received the property directly from the said Financial Establishment) to appear on a date to be specified in the notice and shew cause why so much of the transferee's property as is equivalent to the proper value of the property transferred should not be attached. (ii) Where the said transf erec does not appear and show cause on the speci- fied date or where after investiga- tic n in the manner provided in sub- section (v) of Section 7, the Court of District and Sessions Judge is satisfied that the transfer of the property to the said transferee was not in good faith and for considera- tion, the Court of District and Se1s~ ions Judge shall order the attachment of so much of the said transferee's property as is in the opinion of the Court of District and Sessions Judge equivalent to the proper value of the property transferred. S 11ecurifty in