Attachment and assumption of management of business

Attachment and assumption of management of business .-

1. (1) Where the property of a defaulter consists of a business, the District Collector may attach the business and assume its management and appoint an agent to manage the business.
2. (2) Attachment of a business under this section shall be made by an order prohibiting the defaulter from transferring or charging the business in any way and prohibiting all persons from taking any benefits under such transfer or charge, and intimating that the business has been attached under this section. A copy of the order of attachment shall be served on the defaulter, and another copy shall be affixed on a conspicuous part of the premises in which the business is carried on and on the notice board of the office of the District Collector.
3. (3) The provisions of sections 40 to 42 shall, as far as may be apply to a case where the management of a business is assumed under this section.