Section 19
Stay of proceedings on order of Court.
The Government Securities Act, 2006
About this Act
An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto.
Where the Bank contemplates making with reference
to any Government security any order which it is empowered to make under this Act, and before the order is made the Bank receives from a Court in India an order to stay the making of such order, the Bank shall
either--
(a) hold the security together with any interest unpaid or accruing thereon until further orders of the Court are received; or
(b) apply to the Court to have the security transferred to the Official Trustees appointed for the State in which such Court is situated, pending the disposal of the proceedings before the Court.
(a) hold the security together with any interest unpaid or accruing thereon until further orders of the Court are received; or
(b) apply to the Court to have the security transferred to the Official Trustees appointed for the State in which such Court is situated, pending the disposal of the proceedings before the Court.