Section 337 in The U.P. Co-operative Societies Rules, 1968
337.
(1)Where the movable property to be attached is-(a)a debt to the judgment-debtor;(b)a share in the capital of a corporation or a deposit invested therein; or(c)other movable property not in the possession of the judgment-debtor, except property deposited in or in the custody of any court, the attachment shall be made by a written order signed by the Recovery Officer prohibiting-(i)in the case of a debt, the creditor from recovering the debt and the debtor from making payment thereof;(ii)in the case of a share or deposit, the person in whose name the share or the deposit may be standing from transferring the share or deposit or receiving any dividend or interest thereon; and(iii)in the case of any other movable property except aforesaid the person in possession of it from giving it over to the judgment-debtor.(2)A copy of such order shall be sent in the case of the debt, to the debtor, in the case of the share or deposit, to the proper officer of the corporation and in the case of the other movable property, except properly deposited in or in the custody of a court, to the person in possession of such property.(3)As soon as the debt referred to in clause (a) of sub-rule (1) or the deposit referred to in clause (b) of sub-rule (1) matures, the Recovery Officer may direct the person concerned to pay the amount to him. Where the share referred to in clause (b) is not withdraw able, the said Recovery Officer shall arrange for its sale through a broker. Where the share is withdraw able, its value shall be paid to the said Recovery Officer as soon as it becomes payable. In the case of other movable property referred to in clause (c) of sub-rule (1) above, the same shall be placed in the hands of the said Recovery Officer as soon as it becomes deliverable to the judgment-debtor.(4)A person who has been required to pay the amount to Recovery Officer or to place the property in the hands of the Recover Officer, shall comply with the orders of the Recovery Officer and the payment of the amount or delivery of the property to the Recovery Officer, shall discharge such person as effectually as the payment or delivery to the party entitled to receive the same.Attachment and sale of immovable property
