Section 14(5) in West Bengal Protection of Interest of Depositors in Financial Establishments Act, 2013
(5)If no cause is shown or no objection is raised by the financial establishment, or by the person whose property has been attached and vested in the Competent Authority or by other persons to whom the notice has been issued under sub-section (2), on or before the date specified in the notice, the Designated Court shall, after considering the objection, if any, raised under sub-section (3), pass an order making the ad interim order of attachment absolute and issue such direction as may be necessary for realisation of the assets attached and direct the Competent Authority to sell the property so attached by public auction and realize the sale proceeds and for the equitable distribution of the money so realised among the depositors.
