33. (1) Where the Bank becomes entitled to require the immediate payment of any loan before the due date under Article 32 or by reason of the breach of any condition of any agreement between the Bank and an industrial concern to which the loan has been granted or any person liable for payment of that loan, or where an industrial concern to which any loan has been granted or any person liable for payment of that loan fails to repay the loan by the due date or in compliance with the notice under Article 32, an officer of the Bank, generally or specially authorised by the Board in this behalf, may apply to the District Judge within the local limits of whose jurisdiction the industrial concern carries on the whole or a substantial part of its business, or the office or Branch of the Bank from which the loan was disbursed is situated, for one or more of the following relieves, namely:-(a) an order for the sale of the property pledged, mortgaged, hypothecated or assigned to the Bank as security for the loan or any other property of the industrial concern or of any person liable for payment of the loan or for payment of any other sum relating thereto; or(b) transfer of the management and administration, including the authority to operate the Bank accounts, of the industrial concern to the Bank or to a person specified by the Bank; or(c) an order for injunction ad interim where there is apprehension that the machinery or equipment or other assets may be removed from the premises of the industrial concern without the permission of the Bank or the properties of any other person who is liable for payment of the loan or any other sum relating thereto may be transferred, removed or destroyed; or (d) an order for payment of the loan or any other sum relating thereto. (2) An application under clause (1) shall state the nature and extent of the liability of the industrial concern to the Bank, the ground on which it is made and such other particulars as the Bank may consider necessary. (3) When the application is for the relief mentioned in sub clause (a) or sub-clause (c) of clause (1), the District Judge shall pass an order ad interim attaching the property referred to in sub clause (a) as aforesaid or such other property of the industrial concern or of the persons liable for payment of the loan or of both as is likely in his estimation to fetch, on being sold, an amount equivalent to the outstanding liability of the industrial concern to the Bank, together with the costs of the proceedings taken under this Article, with or without an order of injunction ad interim restraining the industrial concern from transferring or removing any machinery or equipment or any other assets without the consent of the Bank or restraining the persons from transferring, removing or destroying the same. (4) Where the application is for the relief mentioned in sub clause (b) of clause (1), the District Judge shall pass an order for injunction ad interim restraining the industrial concern from transferring or removing its machinery, equipment or any other assets and shall issue a notice calling upon the industrial concern to show cause on a date to be specified in the notice why the management and administration, including the authority to operate the bank accounts, of the industrial concern should not be transferred to the Bank or to a person specified by the Bank. (5) Where the application is for the relief mentioned in sub clause (d) of clause (1), the District Judge shall issue a notice calling upon the industrial concern or the person who is liable to make the payment to show cause on a date to be specified in the notice why an order for payment of the loan or any other sum relating thereto shall not be passed. (6) Before passing any order under clause (3), (4) or (5), the District Judge may, if the thinks fit, examine the person making the application. (7) At the time of passing an order under clause (3), the District Judge shall issue to the industrial concern or to the person liable for payment of the loan or any other sum relating thereto a notice accompanied by a copy of the Order, the application and evidence, if any, recorded by him calling upon it or him to show cause on a date to be specified in the notice why the order of attachment ad interim should not be made absolute or the injunction be not confirmed. (8) If no cause is shown on or before the date specified in the notice under clause (4) or (7), the District Judge shall forthwith make the order ad interim absolute and direct the sale of the attached property or transfer the management and administration, including the authority to operate the bank accounts, of the industrial concern to the Bank or to the person specified by the Bank or confirm the injunction. (9) If no cause is shown on or before the date specified in the notice under clause (5), the District Judge shall pass an order for payment of the loan or any other sum relating thereto. (10) If cause is shown, the District Judge shall proceed to investigate into the claim of the Bank and the provisions of the Code of Civil Procedure, 1908 (Act V of 1908), shall, as far as practicable, apply to such proceedings. (11) On completion of the investigation under clause (10), the District Judge shall pass an order-(a) confirming the order of attachment or directing the sale of the attached property; or(b) varying the order of attachment so as to release a portion of the property from attachment and directing the sale of the remainder of the attached property; or(c) releasing the property from attachment, if he is satisfied that it is not necessary in the interests of the Bank to retain it under attachment; or(d) confirming or vacating the injunction; or(e) transferring or refusing to transfer the management and administration, including the authority to operate the Bank accounts, of the industrial concern to the Bank or to the person specified by the Bank; or(f) directing the payment of the loan or any other sum relating thereto:Provided that when making any order under sub clause (c), the District Judge my make such further orders as he thinks necessary to protect the interests of the Bank and may also allow the cost of the proceedings:Provided further that unless the Bank intimates to the District Judge that it will not appeal against any order releasing any property from attachment, such order shall not be executed until the expiry of the period mentioned in clause (13), or if an appeal is preferred, unless the ¹[High Court Division] otherwise directs, until the appeal is disposed of. (12) An order, under this Article for the attachment or sale of property or payment of the loan or any other sum relating thereto shall be carried into effect as far as may be in the manner provided in the Code of Civil Procedure, 1908 (Act V of 1908), for the attachment or sale of property in execution of a decree or for the execution of a decree as if the Bank were the decree holder. (13) Any party aggrieved by an order made under clause (8), (9) or (11) may, within thirty days from the date of the order, appeal to the ²[High Court Division], and upon such appeal, the ³[High Court Division] may, after hearing the parties, pass such orders as it thinks proper.