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of <h1>Recovery Officers can seize property, freeze accounts, and arrest to collect unpaid penalties under Section 19IB</h1> Section 19IB of the Depositories Act, 1996 empowers Recovery Officers to collect unpaid penalties, disgorgement orders, or fees through various enforcement mechanisms. Recovery methods include attachment and sale of movable and immovable property, bank account attachment, arrest and detention, and appointment of receivers. The provision incorporates Income Tax Act procedures with necessary modifications. Property transfers to spouse, minor children, or relatives without adequate consideration remain subject to recovery. Recovery Officers can seek local district administration assistance, and their recovery actions take precedence over other claims. The Board authorizes Recovery Officers through written orders.
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