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[Cites 0, Cited by 2] [Section 10] [Entire Act]

State of Gujarat - Subsection

Section 10(6) in The Gujarat Protection of Interest of Depositors (in Financial Establishments) Act, 2003

(6)After investigation under sub-section (5), the Designated Court shall pass an order either making the order of attachment passed under sub-section (1) of section 4 absolute or varying it by releasing a portion of the property or assets or moneys from attachment or cancelling the order of attachment:Provided that the Designated Court shall not release from attachment any interest, which it is satisfied that the Financial Establishment or the person referred to in sub-section (1) has in the property or assets, unless it is also satisfied that there will remain under attachment an amount of property of value not less than the value that is required for re-payment to the depositors of such Financial Establishment.