Section 14(7) in West Bengal Protection of Interest of Depositors in Financial Establishments Act, 2013
(7)After investigation under sub-section (6), the Designated Court shall pass an order within a period of 180 days from the date of receipt of an application under sub-section (4) of section 5 either by making the ad interim order of attachment passed under sub-section (5) absolute or by varying it by releasing a portion of the property from attachment or cancelling the ad interim order of attachment and direct the Competent Authority to sell the property so attached by public auction and realize the sale proceeds:Provided that the Designated Court shall not release from attachment any interest in property, which it is satisfied that the financial establishment or the person referred to in sub-section (1) has in the property unless it is also satisfied that there will remain under attachment an amount or property of value not less than the value that is required for repayment to the depositors of such financial establishment.
