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[Cites 0, Cited by 0] [Section 13] [Entire Act]

State of Karnataka - Subsection

Section 13(2) in Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004

(2)Where the said transferee does not appear and show cause on the specified date, or where after investigation in the manner provided in sub-section (5) of section 12 the Special Court is satisfied that the transfer of the property to the said transferee was not in good faith or for proper consideration, the Special court shall order attachment of so much of the said transferee's property as is in the opinion of the Special Court equivalent to the proper value of the property transferred.