Section 16(1) in West Bengal Protection of Interest of Depositors in Financial Establishments Act, 2013
(1)Where the assets available for attachment of a financial establishment or other person referred to in section 5 are found to be less than the amount or value, which such financial establishment is required to repay to the depositors, and where the Designated Court is satisfied, by affidavit or otherwise, that there is reasonable cause for believing that the said financial establishment has transferred (whether before or after the commencement of this Act) any of the property otherwise than in good faith or for consideration, the Designated Court may, by notice, require any transferee of such property (whether or not he received the property directly from the said financial establishment) to appear on a date to be specified in the notice and show cause why so much of the transferee's property as is equivalent to the proper value of the property transferred should not he attached.
