Effect of the garnishee order on fds

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Reference no: EM133093643

With reference to a Garnishee Order, answer the following questions:

I. What will happen if a Garnishee Order and an Income Tax Attachment Order are received simultaneously on the same customer?

II. Describe briefly whether Garnishee Order can attach undrawn or unutilized balance in an overdraft and/or cash credit account.

III. The Garnishee is in possession of certain Fixed Deposits (FDs) of the Judgement Debtor. These FDs are offered to him as security against some loan. What will be the effect of the Garnishee Order on these FDs?

Reference no: EM133093643

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