Section 7(1) in Chhattisgarh Protection of Depositors Interest Act, 2005
(1)Where the competent authority is satisfied,(i)Upon complaints received from depositors or otherwise, that any financial establishment has fraudulently defaulted.(ii)That any financial establishment is acting in a calculated manner with an intention to defraud the depositors and such financial establishment is not likely to return the deposits, the competent authority may, in order to protect the interest of the depositors of such financial establishment, pass an ad-interim order 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 or establishment, or if it appears 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, partner, director, manager or member of the said financial establishment, as the competent authority may think fit and publish the order in local newspaper of the area.
