State · Jammu and Kashmir

Section 11 of The JAMMU AND KASHMIR PROTECTION OF INTERESTS OF DEPOSITORS (IN FINANCIAL ESTABLISHMENTS) ACT, 2018

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 ad-interim order of attachment or, as the case may be, refrain from passing the order under sub-section (6) of section 9.

AI notes for this section are being prepared — this page will update on its own once they’re ready.

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