Bare ActsThe Kerala Protection of Interests of Depositors in Financial Establishments Act, 2013

Section 11

Administration of property attached

Amendment status not verified — confirm the current text below against the official source.

Administration of property attached.-The Special Court may, on the application of any person interested in any property attached under this Act, and after giving the competent authority an opportunity of being heard, make such orders as the Special Court considers just and reasonable for,- (a) providing from such of the property attached as the applicant claims an interest in such sums as may be reasonably necessary for the maintenance of the applicant and of his family, and for expenses connected with the defence of the applicant where criminal proceedings have been instituted against him in the Special Court under section 5; (b) safeguarding, so far as may be practicable, the interest of any business affected by the attachment and in particular in the interest of any partners' in such business.

Section 11 – The Kerala Protection of Interests of Depositors in Financial Establishments Act, 2013 | DailyLaw.ai