(i) Where, upon complaints received from a depositor or depositors, that any financial establishment defaulted or is likely to default in the return of deposits in cash or kind after maturity, or in any manner agreed upon; or
(ii) Where the Government have reason to believe that any financial establishment is acting in a manner prejudicial to the interests of the depositors with an intention to defraud the depositors;
Section 3 • Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999
3. Attachment of properties on default in respect of deposits.
andhra-pradesh-protection-of-depositors-of-financial-establishments-act-1999-1999-sec-3.json
•
Section 3
{
"act_title": "Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999",
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"section": {
"number": "3",
"title": "3. Attachment of properties on default in respect of deposits.",
"chapter": null,
"content": "(i) Where, upon complaints received from a depositor or depositors, that any financial establishment defaulted or is likely to default in the return of deposits in cash or kind after maturity, or in any manner agreed upon; or\n(ii) Where the Government have reason to believe that any financial establishment is acting in a manner prejudicial to the interests of the depositors with an intention to defraud the depositors;",
"footnote": "",
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