Section 45H(2) in The Banking Regulation Act, 1949
(2)Where an application is made to the High Court under [section 543 of the Companies Act, 1956 (1 of 1956)] [ Substituted by Act 95 of 1956, Section 14 and Sch., for " section 235 of the Indian Companies Act, 1913 (7 of 1913)" (w.e.f. 14.1.1957).], and the High Court has reason to believe that a property belongs to any promoter, director, manager, liquidator or officer of the banking company, whether the property stands in the name of such person or any other person as an ostensible owner, then the High Court may, at any time, whether before or after making an order under sub-section (1), direct the attachment of such property, or such portion thereof, as it thinks fit and the property so attached shall remain subject to attachment unless the ostensible owner can prove to the satisfaction of the High Court that he is the real owner and the provisions of the Code of Civil Procedure, 1908 (5 of 1908), relating to attachment of property shall, as far as may be, apply to such attachment.
