State · Jammu and Kashmir

Section 12 of The JAMMU AND KASHMIR PROTECTION OF INTERESTS OF DEPOSITORS (IN FINANCIAL ESTABLISHMENTS) ACT, 2018

Administration of property attached.

The Designated Court may, on the application of any person interested in any property attached under this Act, and after giving the Competent Authority an opportunity of being heard, make such order as the Designated Court considers just and reasonable for,––

(a)providing from such of the property attached as the applicant claims an interest in, such sum as may be reasonably necessary for the maintenance of the applicant and of his family and for expenses connected with the defence of the applicant where criminal proceedings have been instituted against him in the Designated Court under section 6 ;
(b)safeguarding so far as may be practicable, the interest of any business affected by the attachment and in particular, the interest of any partners in such business.

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

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