Section 10 in U.P. Protection of Interest of Depositors in Financial Establishment Act, 2016
10. Security in lieu of attachment.
- Any Financial Establishment or person whose property has been or is about to be attached under this Act may, at any time, apply to the Designated Court for permission to give security in lieu of such attachment and where the security offered and given is, in the opinion of the Designated Court, satisfactory and sufficient, it may cancel the order of attachment or as the case may be refrain from passing the order of attachment.
