State Act
9
Section 9. Security in lieu of attachment.
The Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999
Act no. XVI of 20002000In forceMaharashtra (State Act)
9. 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 the security offered and given is, in the opinion of the Designated Court, satisfactory and sufficient, it may cancel, the order of attachment or, as the case may be, refrain from passing the order of attachment.