(ii) Without prejudice to the generality of the powers vested under sub-clause (1) of this sub-section, the Competent Authority shall be entitled to:-
(a) assistance of any police officer or any other Authority or person and on such requisition it shall be the duty of the police officer or such other Authority or person to extend necessary assistance;
(b) open bank accounts in any scheduled commercial bank and credit all monies realized and operate the bank accounts while dealing with the money received in his capacity and Competent Authority;
(c) require any person believe to be in possession or control over any money, property or assets of the financial establishment, to furnish necessary information, to hand over possession of such assets to the Competent Authority and such person shall be comply with the requisition without any loss of time;
(d) appoint legal practitioner or chartered accountant or any other person whose services are necessary for taking possession of assets and realization of the assets of the financial establishment;
(e) sell, receive, transfer, endorse or otherwise deal with any marketable security or negotiable instrument belonging to or in the control of the financial establishment and give proper discharge for the same;
(f) sell, transfer or otherwise realize any moveable or immoveable property belonging to or in the control of the financial establishment either by public auction or with the prior approval of the Designated Court by private arrangements:
(g) make payment as per orders passed by the Designated Court from the bank accounts, and
(h) do all and every act and deed which would be necessary for the speedy realization of the assets of the financial establishment.
Section 6 • The Delhi Protection of Interest of Depositors (In Financial Establishment) Act, 2001
6. Duties and power of the Competent Authority.
the-delhi-protection-of-interest-of-depositors-in-financial-establishment-act-2001-sec-6.json
•
Section 6
{
"act_title": "The Delhi Protection of Interest of Depositors (In Financial Establishment) Act, 2001",
"act_slug": "the-delhi-protection-of-interest-of-depositors-in-financial-establishment-act-2001",
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"section": {
"number": "6",
"title": "6. Duties and power of the Competent Authority.",
"chapter": null,
"content": "(ii) Without prejudice to the generality of the powers vested under sub-clause (1) of this sub-section, the Competent Authority shall be entitled to:-\n(a) assistance of any police officer or any other Authority or person and on such requisition it shall be the duty of the police officer or such other Authority or person to extend necessary assistance;\n(b) open bank accounts in any scheduled commercial bank and credit all monies realized and operate the bank accounts while dealing with the money received in his capacity and Competent Authority;\n(c) require any person believe to be in possession or control over any money, property or assets of the financial establishment, to furnish necessary information, to hand over possession of such assets to the Competent Authority and such person shall be comply with the requisition without any loss of time;\n(d) appoint legal practitioner or chartered accountant or any other person whose services are necessary for taking possession of assets and realization of the assets of the financial establishment;\n(e) sell, receive, transfer, endorse or otherwise deal with any marketable security or negotiable instrument belonging to or in the control of the financial establishment and give proper discharge for the same;\n(f) sell, transfer or otherwise realize any moveable or immoveable property belonging to or in the control of the financial establishment either by public auction or with the prior approval of the Designated Court by private arrangements:\n(g) make payment as per orders passed by the Designated Court from the bank accounts, and\n(h) do all and every act and deed which would be necessary for the speedy realization of the assets of the financial establishment.",
"footnote": "",
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