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[Cites 0, Cited by 0] [Section 5(1)] [Section 5] [Entire Act]

State of West Bengal - Subsection

Section 5(1)(d) in West Bengal Protection of Interest of Depositors in Financial Establishments Act, 2013

(d)where the State Government is satisfied that any financial establishment committing a default in repayment of deposit fraudulently, has transferred (whether after the commencement of the Act or not) any of the property otherwise than in good faith and for consideration, it may, in order to protect the interest of the depositors of such financial establishment, by an order to be published in the Official Gazette and after recording reasons in writing, attach the money or other property acquired either in the name of such financial establishment or in the name of any other person on behalf of such financial establishment: