BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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revenue office
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RBI
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Court of law
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Govt of india
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Detailed explanation-1: -A garnishee order is an order passed by an executing court directing or ordering a garnishee not to pay money to judgment debtor since the latter is indebted to the Garnisher (decree-holder). It is an order of court to attach money or goods belonging to the judgment debtor in the hands of a third person.
Detailed explanation-2: -The creditor at whose request the order is issued is called the judgment creditor; the debtor whose money is frozen is called judgment debtor and the banker who is the debtor of the judgment debtor is called the Garnishee.
Detailed explanation-3: -A garnishee order is issued by the court of law to the third party in a suit, compelling him to pay a certain amount directly to the creditor instead of paying it to the debtor.
Detailed explanation-4: -A Garnishee Order is issued in two stages, first as an Order Nisi and then an Order Absolute.