Section 40(3)(c) in The Industrial Reconstruction Bank Of India Act, 1984

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Union of India - Subsection

Section 40(3)(c) in The Industrial Reconstruction Bank Of India Act, 1984

(c)pass an ad interim order attaching any property of the industrial concern which has not been assigned, charged, hypothecated, mortgaged or pledged to the Reconstruction Bank, or so much of such property, as would, on being sold, realise, in its estimation, an amount equivalent in value to the outstanding dues of the industrial concern to the Reconstruction Bank, together with costs of the proceedings taken under this section, and pass an order calling upon the industrial concern to show cause on a date to be specified in the notice as to why such order of ad interim attachment shall not be made absolute.

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Union of India - Subsection

Section 40(3)(c) in The Industrial Reconstruction Bank Of India Act, 1984