Section 15: Confirmation of attachment by Designated Court

Q: What does Section 15 of The Banning of Unregulated Deposit Schemes Rules, 2020 (TBUDSR) deal with?

Section 15 TBUDSR pertains to "Confirmation of attachment by Designated Court". It is part of the The Banning of Unregulated Deposit Schemes Rules, 2020, a legislation enacted by the Parliament of India. Section 15 of The Banning of Unregulated Deposit Schemes Rules, 2020 (TBUDSR) governs confirmation of attachment by Designated Court. As verified on 22 May 2026.

Q: Is Section 15 TBUDSR still in force?

Yes, Section 15 of the The Banning of Unregulated Deposit Schemes Rules, 2020 is currently in force across the Republic of India.

Q: What is धारा 15 TBUDSR?

धारा 15 TBUDSR is the Devanagari Hindi reference for Section 15 of the The Banning of Unregulated Deposit Schemes Rules, 2020. Section 15 of The Banning of Unregulated Deposit Schemes Rules, 2020 (TBUDSR) governs confirmation of attachment by Designated Court. As verified on 22 May 2026.

Q: What is Dhara 15 TBUDSR?

Dhara 15 TBUDSR is the Roman Hindi reference for Section 15 of the The Banning of Unregulated Deposit Schemes Rules, 2020. "Dhara" means "Section" in Hindi. Section 15 of The Banning of Unregulated Deposit Schemes Rules, 2020 (TBUDSR) governs confirmation of attachment by Designated Court. As verified on 22 May 2026.

Q: How to cite Section 15 of The Banning of Unregulated Deposit Schemes Rules, 2020?

Cite as: "Section 15, The Banning of Unregulated Deposit Schemes Rules, 2020 (TBUDSR)" in legal briefs. For academic writing, use the BlueBook format: The Banning of Unregulated Deposit Schemes Rules, 2020, 2020, § 15 (India).

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(1)

Upon receipt of an application under section 14, the Designated Court shall issue notice to -

(2)

The Designated Court shall also issue notice to all other persons represented to it as having or being likely to claim any interest or title in the property, to appear on the same date as persons referred to in sub-section (1) to raise objections, if they so desire, to the attachment of the property.

(3)

The Designated Court shall, after adopting such procedure as may be prescribed, pass an order -

(4)

The Designated Court shall not, in varying or cancelling the provisional order of attachment, release any property from attachment, unless it is satisfied that -

(5)

The Designated Court shall pass such order or issue such direction as may be necessary for the equitable distribution among the depositors of the money attached or realised out of the sale.

(6)

The Designated Court shall endeavour to complete the proceedings under this section within a period of one hundred and eighty days from the date of receipt of the application referred to in sub-section (1).