Section 3(ii) in Arunachal Pradesh Protection of Interests of Depositors (In Financial Establishments) Act, 2017
(ii)Where the Government has reason to believe that any Financial Establishment is acting in a calculated manner with an intention to defraud the depositors, and if the Government is satisfied that such Financial Establishment is not likely to return the deposits or to make payment of interest or to provide the service, the Government may, in order to protect the interest of the depositors of such Financial Establishment pass an ad-interim order by publishing it in the Official Gazette, attaching the money or other property alleged to have been procured either in the name of the Financial Establishment, or in the name of any other person from and out of the deposits collected by the Financial Establishment, or if it is transpires that such money or other property is not available for attachment or not sufficient for repayment of the deposits, such other property of the said Financial Establishment or the promoter, manager or member of the said Financial Establishment, or a person who has borrowed money from the Financial Establishment to the extent of his default or such other properties of that person in whose name the properties where purchased from and out of the deposit collected by the Financial Establishment, as the Government may think fit, transfer the control over the said money or property to the competent authority.
