Amendment status not verified — confirm the current text below against the official source.
Amendment of section 11. - In section 11 of the principal Act, in sub-section (2),- (a) in clause (e) , the words “in the events of the money so realized is not sufficient to meet the entire deposit liability,” shall be omitted; (b) after clause (f), before Explanation, the following shall be inserted, namely:- 34 “(g) depending upon the magnitude of the fraud wherever the Special Courts feel the need for a committee to be set up for the sake realisation of proceeds and payment to depositors, the special court may constitute such committees, on a case to case basis; (h) to utilize the e-auction platform for auction of the assets attached under this Act wherever felt necessary; (i) Utilise the services of empanelled agencies notified by the State Government under section 6 for valuation of assets and selling of assets for prospective buyers, forensic auditors and digital auditor for forensic audit of money trails; (j) to utilize the services of official liquidator appointed by the Central Government under section 359 of the Companies Act, 2013(Central Act 18 of 2013) and attached to High Courts wherever felt necessary; (k) to utilize the services of agencies empanelled by Security Exchange Board of India to assist the court for assessing the value of assets and selling the assets to the prospective buyers in accordance with law; (l) to utilize the services of the valuers approved by any Nationalised Bank for valuation of assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (Central Act 54 of 2002) for valuation of the assets; and (m) pass an order expeditiously for sale of the depreciable movable assets provisionally attached to realise maximum value without allowing such assets to lose their value."