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of <h1>Court Can Attach Property of Transferees Under Section 16, If Transfer Lacks Good Faith or Fair Consideration</h1> Section 16 of the Banning of Unregulated Deposit Schemes Act, 2019, allows a Designated Court to order the attachment of property from transferees who received assets from a deposit taker under suspicious circumstances. If the court believes the transfer was not made in good faith or for fair consideration, it may require the transferee to justify why their property, equivalent to the value of the transferred asset, should not be attached. If the transferee fails to appear or provide a valid reason, the court can order the attachment of their property equivalent to the value of the improperly transferred asset.
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