Section 9 in Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997
9. 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 anytime, apply to the Special Court for permission to give security in lieu of such attachment and where the security offered and given is in the opinion of the Special Court, satisfactory, and sufficient it may cancel, the ad-interim order of attachment or, as the case may be refrain from passing the order under sub-section (6) of section 7.
