Banning of Unregulated Deposit Schemes Act, 2019 by KIRAN S. JAVALI – 1st Edition 2025

Description

CHAPTER I

PRELIMINARY

1. Short title, extent and commencement
2. Definitions

CHAPTER II

BANNING OF UNREGULATED DEPOSIT SCHEMES

3. Banning of Unregulated Deposit Scheme
4. Fraudulent default in Regulated Deposit Schemes
5. Wrongful inducement in relation to Unregulated Deposit Schemes
6. Certain Scheme to be Unregulated Deposit Scheme

CHAPTER III

AUTHORITIES

7. Competent Authority
8. Designated Court

CHAPTER IV

INFORMATION ON DEPOSIT TAKERS

9. Central Database
10. Information of business by deposit taker
11. Information to be shared

CHAPTER V

RESTITUTION TO DEPOSITORS

12. Priority of depositor’s claim
13. Precedence of Attachment
14. Application for confirmation of attachment and sale of Property
15. Confirmation of Attachment by Designated Court
16. Attachment of Property of malafide transferees
17. Payment in lieu of attachment
18. Powers of Designated Court
19. Appeal to High Court
20. Power of Supreme Court to transfer cases

CHAPTER VI

OFFENCES AND PUNISHMENTS

21. Punishment for contravention of Section 3
22. Punishment for contravention of Section 4
23. Punishment for contravention of Section 5
24. Punishment for repeat offenders
25. Offences by deposit takers other than individuals
26. Punishment for contravention of Section 10
27. Cognizance of offences

CHAPTER VII

INVESTIGATION, SEARCH AND SEIZURE

28. Offences to be cognizable and non-bailable
29. Competent Authority to be informed of offences
30. Investigation of offences by Central Bureau of Investigation
31. Power to enter, search and seize without warrant
32. Application of Code of Criminal Procedure, 1973 (2 of 1974), to proceedings before Designated Court

CHAPTER VIII

MISCELLANEOUS

33. Publication of advertisement of Unregulated Deposit Scheme
34. Act to have overriding effect
35. Application of other laws not barred
36. Protection of action taken in good faith
37. Power of Central Government to make Rules
38. Power of State Government, etc., to make rules
39. Laying of rules
40. Power to amend First Schedule
41. Act not to apply certain deposits
42. Amendment to certain enactments
43. Power to remove difficulties
44. Repeal and saving

The First Schedule         Regulated Deposit Schemes

The Second Schedule     Amendments to Certain Enactments

Appendix 1    Banning of Unregulated Deposit Schemes Rules, 2020

Appendix 2    State Rules

1. The Arunachal Pradesh Banning of Unregulated Deposit Schemes Rules, 2023
2. The Assam Banning of Unregulated Deposit Schemes Rules, 2022
3. The Bihar Banning of Unregulated Deposit Schemes Rules, 2023
4. The Delhi Banning of Unregulated Deposit Schemes Rules, 2024
5. The Goa Banning of Unregulated Deposit Schemes Rules, 2022
6. The Haryana Banning of Unregulated Deposit Schemes Rules, 2023
7. The Jammu and Kashmir Banning of Unregulated Deposit Schemes Rules, 2022
8. The Karnataka Banning of Unregulated Deposit Schemes Rules, 2020
9. The Kerala Banning of Unregulated Deposit Schemes Rules, 2021
10. The Manipur Banning of Unregulated Deposit Schemes Rules, 2021
11. The Nagaland Banning of Unregulated Deposit Schemes Rules, 2023
12. The Puducherry Banning of Unregulated Deposit Schemes Rules, 2023
13. The Punjab Banning of Unregulated Deposit Schemes Rules, 2023
14. Rajasthan Banning of Unregulated Deposit Schemes Rules, 2022
15. The Sikkim Banning of Unregulated Deposit Schemes Rules, 2025
16. The Tamil Nadu Banning of Unregulated Deposit Schemes Rules, 2023
17. The Uttarakhand Banning of Unregulated Deposit Schemes Rules, 2021