Amendment status not verified — confirm the current text below against the official source.
After making a report under section 7, the competent authority shall make an application to the designated court seeking permission to make payment to the depositors out of the money realised. While making such application, the competent authority shall assess the liability to the depositors and the other liabilities and in case the money attached or realisable is not sufficient to meet the entire liability, make a submission to the designated court seeking permission for making payment to the depositors and disburse the money as per the orders of the designated court. Designated court. 9. (1) For the purposes of this Act, the Government may, with the concurrence of the Chief Justice of the Punjab and Haryana High Court, by notification in the Official Gazette, constitute one or more designated courts in the cadre of a District Judge including Additional District Judge for such area or areas or for such case or class or group of cases, as may be specified in the notification. (2) No court other than the designated court, shall have jurisdiction in respect of any matter to which the provisions of this Act are invoked. (3) Any pending case in any other court to which the provisions of this Act apply, shall, stand transferred to the designated court from the date of issue of notification under sub-section (1). Power of designated court regarding attachment.