Section 13 in Puducherry Protection of Interests of Depositors in Financial Establishments Act, 2004
13. Security in lieu of attachment.
- Any Financial Establishment or person whose property has been or is about to be attached under this Act may at any time, apply to the Designated Court for permission to give security in lieu of such attachment and where security offered and given is, in the opinion of the Designated Court, satisfactory and sufficient, it may cancel the ad-interim order of attachment or, as the case may be, refrain from passing, the order of attachment.
