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[Cites 0, Cited by 0] [Section 41] [Entire Act]

Union of India - Subsection

Section 41(10) in The Small Industries Development Bank Of India Act, 1989

(10)After making an investigation under sub-section (9), the Court may-
(a)confirm the order of attachment and direct the sale of the attached property;
(b)vary the order of attachment so as to release a portion of the property from attachment and direct the sale of the remainder of the attached property;
(c)release the property from attachment;
(d)confirm or dissolve the injunction; or
(e)direct the enforcement of the liability of the surety or reject the claim made in this behalf:
Provided that when making an order under clause (c) or making an order rejecting the claim to enforce the liability of the surety under clause (e), the Court may make such further orders as it thinks necessary to protect the interests of the Small Industries Bank and may apportion the cost of the proceedings in such manner as it thinks fit:Provided further that unless the Small Industries Bank intimates to the Court that it will not appeal against any order releasing any property from attachment or rejecting the claim to enforce the liability of the surety, such order shall not be given effect to, until the expiry of the period fixed under sub-section (12) within which an appeal may be preferred or, if an appeal is preferred, unless the Court empowered to hear appeals from the decisions of the said Court otherwise directs, until the appeal is disposed of.