Prohibition on pledging fund credits; transfers allowed only with assignment of participating interest and ministry authorization. Account balances under the Site Restoration Fund Scheme are prohibited from being pledged, offered as security, charged or alienated, except that where a depositor assigns or transfers his participating interest the corresponding account amounts may be transferred to the transferee/assignee; such transfers by the deposit office require prior authorisation from the Ministry of Petroleum and Natural Gas.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Prohibition on pledging fund credits; transfers allowed only with assignment of participating interest and ministry authorization.
Account balances under the Site Restoration Fund Scheme are prohibited from being pledged, offered as security, charged or alienated, except that where a depositor assigns or transfers his participating interest the corresponding account amounts may be transferred to the transferee/assignee; such transfers by the deposit office require prior authorisation from the Ministry of Petroleum and Natural Gas.
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