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of <h1>Provisional Attachment Order Under Banning of Unregulated Deposit Schemes Act, 2019 Takes Precedence Over Other Debts or Taxes</h1> An order of provisional attachment by the Competent Authority under the Banning of Unregulated Deposit Schemes Act, 2019, takes precedence over other attachments for debts or taxes, except as provided by specific financial laws. Such attachment remains until the Designated Court issues further orders. The attached assets vest with the Competent Authority and are managed through a scheduled bank account, with usage restricted by court instructions. The Competent Authority cannot dispose of these assets without court approval, except for perishable items, which can be sold immediately, with proceeds managed similarly to other assets.
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