Section 107(9) in The Maharashtra Cooperative Societies Rules, 1961
(9)Where the moveable property to be attached is:-(a)a debt due to the defaulter in question;(b)a share in the capital of a corporation or a deposit invested therein; or(c)other moveable property not in the possession of the defaulter, except property deposited in, or in the custody of, any Civil Court, The attachment shall be made by a written order signed by the Recovery Officer prohibiting:-(i)in the case of a debt, the creditor from recovering the debt and the debtor from making payment thereof;(ii)in the case of a share or deposit, the person in whose name the share or the deposit may be standing, from transferring the share or deposit or receiving any dividend or interest thereon; and(iii)in the case of any other moveable property, the person in possession of it from giving it over to the defaulter.A copy of such order shall be sent, in the case of the debt, to the debtor, in case of the share or deposit, to the proper officer or the corporation and in the case of any other moveable property, to the person in possession of such property. As soon as the debt referred to in clause (a) or the deposit referred to in clause (b) matures, the Recovery Officer may direct the person concerned to pay the amount to him. Where the share is not withdrawable, the Recovery Officer shall arrange for its sale through a broker. Where the share is withdrawable, its value shall be paid to the Recovery Officer or to the party referred to in clause (c). The person concerned shall place it in the hands of the Recovery Officer as it becomes deliverable to the debtor.
