State Act
8
Section 8. Report by competent authority.
The Haryana Protection of Interest of Depositors in Financial Establishment Act, 2013 (32 of 2014)
Act no. 32 of 20142014In forceHaryana (State Act)
8. After making a report under section 7, the competent authority shall make an application to the designated court seeking permission to make payment to the depositors out of the money realised. While making such application, the competent authority shall assess the liability to the depositors and the other liabilities and in case the money attached or realisable is not sufficient to meet the entire liability, make a submission to the designated court seeking permission for making payment to the depositors and disburse the money as per the orders of the designated court.