Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in any other law for the time being in force,- (i) Where, upon complaints received from a depositor or depositors, that any financial establishment defaulted or is likely to default in the return of deposits in cash or kind after maturity, or in any manner agreed upon; or (ii) Where the Government have reason to believe that any financial establishment is acting in a manner prejudicial to the interests of the depositors with an intention to defraud the depositors; and if the Government are satisfied that such financial establishment is not likely to return the deposits in cash or kind after maturity, or in any manner agreed upon, the Government may, in order to protect the interests of the depositors of such financial establishment, pass an ad- interim order attaching the money or other property alleged to have been procured either in the name of the financial establishment or in the name of any other person from and