Section 14 in Puducherry Protection of Interests of Depositors in Financial Establishments Act, 2004
14. Administration of property attached.
- The Designated Court may, on the application of any person interested in any property attached and vested in the Competent Authority under this Act, and after giving the Competent Authority an opportunity of being heard, make such orders as the Designated Court considers just and reasonable for -(a)providing from such of the property attached and vested in the Competent Authority as the applicant claims an interest, in such sums as may be reasonably necessary for the maintenance of the applicant and of his family, and for expenses connected with the defence of the applicant where criminal proceedings have been instituted against him in the Designated Court under section 3;(b)safeguarding so far as may be practicable the interest of any business affected by the attachment and in particular, the interest of any partners in such business;(c)discharging any liability, statutory or otherwise, of such financial establishment.
