Section 8 in The M.P. Nikshepakon Ke Hiton Ka Sanrakshan Adhiniyam, 2000
8. Power of Special Court regarding attachment.
(1)Upon receipt of an application under Section 5, the Special Court shall issue to the financial establishment or to any other person whose property is attached by the Competent Authority under Section 4, a notice accompanied by the application, calling upon him to show cause on a date to be specified in the notice why the order of attachment should be made absolute.(2)The Special Court shall also issue such notice to all such persons who have represented before it as having or likely to claim, any interest or title in the property of the financial establishment, calling upon such person to appear on the date as specified in the notice and make objection, if he so desires, to the attachment of the property or any portion thereof.(3)Any person claiming an interest in the property attached or any portion thereof may, notwithstanding that no notice has been served upon him under (his section make an objection as aforesaid to the Special Court at any time before an order is passed under sub-section (4) or sub-section (6).(4)If no cause is shown and no objections are made on or before the specified date, the Special Court shall forthwith pass an order making the ad-interim order of attachment absolute.(5)If a cause is shown or any objection is made as aforesaid, the Special Court shall proceed to investigate the same, and in so doing, as regards the examinations of the parties and in all other respects, the Special Court shall, subject to the provisions of this Act, follow the procedure and exercise all the powers of a Court in hearing a suit under the Code of Civil Procedure, 190S (Central Act V of 1908) and any person making an objection shall he required to adduce evidence to show that at the date of attachment he had some interest in the property attached.(6)After investigation under sub-section (5), the Special Court shall pass an order either making the ad-interim order of attachment absolute or varying it by releasing a portion of the property from attachment or cancelling the ad-interim order of attachment :Provided that the Special 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 unless it is also satisfied that there will remain under attachment an amount or property of value not less than the value that is required for re-payment to the depositors of such financial establishment.(7)Where an application is made by any person duly authorised or specified by any other State Government under similar enactment empowering him to exercise control over any money or property or assets attached by the State Government, the Special Court shall exercise all its powers, as if such an application were made under this Act and pass appropriate order or direction on such application, so as to give effect to the provisions of such enactment.
