Section 117 in The Orissa Co-operative Societies Rules, 1965
117. Attachment of debt, share of other property not in possession of defaulter.
(1)Where the movable property to be attached is -(a)a debt due to the defaulter in question;(b)a share in the capital of corporation or a deposit invested therein; or(c)other movable property not in the possession of the defaulter, except property deposited in, or in the custody of any Civil Court the attachment shall be made by a written order signed by the Principal Officer of the area prohibiting -(i)in the case of the debt the creditor from recovering the debt and the debtor from making payment thereof;(ii)in the case of share or deposit the person in whose name the share or the deposit may be standing from transferring the share or deposit or receiving any dividend or interest thereon;(iii)in the case of any other movable property except as aforesaid the person in possession of it from giving over to that defaulter.(2)A copy of such order shall be affixed on some conspicuous part of the notice of the Principal Officer and another copy shall be sent in the case of the debt to the debtor. In the case of share or deposit to the proper officer of the corporation and in the case of the other movable property except as aforesaid to the person in possession of such property. As soon as the debt referred to in Clause (a) or referred to in Clause (b) matures the Principal Officer may direct the person, concerned to pay the amount to him or the party concerned. Where the share is not withdrawable, the said Principal Officer shall arrange for its sale through a broker, where share is withdrawable, its value shall be paid to the Principal Officer or to the party concerned as soon as it becomes payable. In the case of movable property referred to in Clause (a) of Sub-rule (1) the person concerned shall place it in the hands of the said Principal Officer as is becomes deliverable to the defaulter.
