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Karnataka Protection Oe Interest of Depositors in Financial Establishments Act, 2004 Section 11

Title: Powers of the Special Court Regarding Realisation of Assets and Payment to Depositors

State: Karnataka

Year: 2004

.....as it deems fit or depending upon the nature of assets and credit the sale proceeds thereof to the bank accounts; (d) approve the necessary expenditure to be incurred by the Competent Authority for taking possession and realisation of the assets of the financial establishment; (e) on receipt of an application under Section 8, order for payment to the depositors by the Competent Authority or order for proportionate payment to the depositors in the events of the money so realised is not sufficient to meet the entire deposit liability; and (f) pass any order which the Special Court deems fit for realisation of the assets of the company and repayment to the depositors of the financial establishment or on any matter or issue incidental thereto. Explanation.--For the purpose of this section, the expression "financial establishment" includes the directors, partners, promoters, managers or member of said establishment or any other person whose property or assets have been attached under Section 3.

Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004 Preamble 1

Title: Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004

State: Karnataka

Year: 2004

THE KARNATAKA PROTECTION OE INTEREST OF DEPOSITORS IN FINANCIAL ESTABLISHMENTS ACT, 2004 [ACT No. 30 OF 2005) (First published in the Karnataka Gazette, Extraordinary on the Twenty-second day of December, 2005) (Received the assent of the President of India on the Fourteenth day of December, 2005) An Act to provide for protection of interest of depositors in financial establishments and matters relating thereto. Whereas, it is expedient to provide for protection of interest of the depositors in financial establishments and the matters relating thereto and for the purpose hereinafter appearing. Be it enacted by the Karnataka State Legislature in the Fifty-fourth year of the Republic of India, as follows.--

Karnataka Protection Oe Interest of Depositors in Financial Establishments Act, 2004 Complete Act

Title: Karnataka Protection Oe Interest of Depositors in Financial Establishments Act, 2004

State: Karnataka

Year: 2004

.....by financial establishment Chapter IV Section 10 - Special Court Section 11 - Powers of the Special Court regarding realisation of assets and payment to depositors Section 12 - Powers of Special Court regarding attachment Section 13 - Attachment of property of mala fide transferees Section 14 - Security in lieu of attachment Section 15 - Administration of property attached Section 16 - Appeal Section 17 - Special Public Prosecutor Section 18 - Procedure and powers of Special Court regarding offences Chapter V Section 19 - Act to override other laws Section 20 - Protection of action taken in good faith Section 21 - Power to make rules Section 22 - Power to remove difficulties

The Delhi Protection of Interests of Depositors Act, 2001 Complete Act

State: Delhi

Year: 2001

.....In this Act, unless the context otherwise requires.- a. "Assistant Collector" means an officer appointed as such under the Delhi Land Revenue Act, 1954 (Act 12 of 1954). b. "Competent Authority" means the Authority appointed under section 5' c. "Delhi" means the National Capital Territory of Delhi. d. includes and shall be deemed always to have included any receipt of money or acceptance of any valuable commodity by any financial establishment to be returned after a specified period or otherwise, either in cash or in kind or in the form of a specified service with or with out any benefit in the form of interest, bonus, profit or in any other form, but does not include- i. (i) amount raised by way of share capital or by way of debenture, bond or any other instrument covered under the guidelines given, and regulations made, by the SEBI, established under the Securities and Exchange Board of India Act, 1992 (15 of 1992); ii. amounts contributed as capital by partners of a firm; iii. amounts received from a scheduled bank or a co-operative bank or any other banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949, (10 of 1949); .....

Companies Act, 1956 Section 58AA

Title: Small Depositors

State: Central

Year: 1956

.....to them in respect of which such default has been made. (6) Where any interest accrued on deposits of the small depositors has been waived, the fact of such waiver shall be mentioned by the company in every advertisement and application form inviting deposits issued after the waiver. (7) Where a company had accepted deposits from small depositors and subsequent to such acceptance of deposits, obtains funds by taking a loan for the purposes of its working capital from any bank, it shall first utilise the funds so obtained for the repayment of any deposit or any part thereof or any interest thereupon to the small depositor before applying such funds for any other purpose. (8) Every application form, issued by a company to a small depositor for accepting deposits from him, shall contain a statement to the effect that the applicant had been apprised of - (a) every past default by the company in the repayment of deposit or interest thereon, if any, such default has occurred; and (b) the waiver of interest under sub-section (6), if any, and reasons therefor. (9) Whoever knowingly fails to comply with the provisions of this section or comply with any order of the 2.....

Banking Regulation Act, 1949 Section 43A

Title: Preferential Payments to Depositors

State: Central

Year: 1949

.....referred to in sub-section (9)available for payment to general creditors shall be utilised for payment on prorata basis of the debts of the general creditors and of the sums due to thedepositors: Provided thatwhere any amount in respect of any deposit is to be paid by the liquidator tothe Deposit Insurance Corporation under section 21 of the Deposit InsuranceCorporation Act, 1961 (47 of 1961), only the balance, if any, left after makingthe said payment shall be payable to the depositor.] ______________________ 1. Substituted byAct 37 of 1960, Section 4, for section 43A. 2. Substituted by Act47 of 1961, Section 51 and Schedule II, Pt. II, for "the foregoing provisions"w.e.f. 1-1- 1962. 3. Inserted by Act47 of 1961, Section 51 and Schedule II, Pt. II w.e.f. 1-1-1962

Maharashtra Protection of Interests of Depositors (in Financial Establishments) Act, 1999 Complete Act

State: Maharashtra

Year: 1999

.....the said provisions a Designated Court shall be deemed to be a Magistrate. SECTION 14: ACT TO OVERRIDE OTHER LAWS Save as otherwise provided in this Act, the provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any custom or usage or any instrument having effect by virtue of any such law. SECTION 15: PROTECTION OF ACTION TAKEN IN GOOD FAITH No suit or other proceedings shall lie against the Government or the Competent Authority or an officer or employee of the Government for anything which is in good faith done or intended to be done under this Act SECTION 16: POWER TO MAKE RULES (1) The State Government may, by notification in the Official Gazette, make rules to carry out the purposes of this Act. (2) Every rule made under this Act shall be laid, as soon as may be, after it is made, before each House of the State legislature, while it is in session for a total period of thirty days, which may be comprised in one session or in two successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, both Houses agree in making any.....

The Tripura Protection of Interests of Depositors (in Financial Establishments) Act, 2000 Complete Act

State: Tripura

Year: 2000

.....OF DEPOSITORS (IN FINANCIAL ESTABLISHMENTS) ACT, 2000 THE TRIPURA PROTECTION OF INTERESTS OF DEPOSITORS (IN FINANCIAL ESTABLISHMENTS ) ACT, 2000 An Act to protect the interests of depositors of the Financial Establishments and for matters connected therewith and incidental thereto. Be it enacted by the Tripura Legislative Assembly in the Fifty-First year of the republic of India as follows: CHAPTER I PRELIMINARY Short title, extent & commencement. 1. (I) This act may be called the Tripura Protection of Interests of Depositors (In Financial Establishments) Act, 2000 (2) It extends to the whole of Tripura. (3) It shall come into force at once. Definition. 2. In this Act, unless the context otherwise requires,- (a) "Competent Authority" means the Competent Authority appointed under section 5; (b) "Designated Court" means a Designated Court constituted under section 6 ; (c) "deposit" includes and shall be deemed always to have included any receipt of money of acceptance of any valuable commodity by any Financial Establishment to be returned after a specified period or otherwise, either in case or in kind in the form of a specified service with or without any.....

Reserve Bank of India Act, 1934 (2 of 1934) Section 45QB

Title: Nomination by Depositors

State: Central

Year: 1934

.....made under this section. (5) No notice of the claim of any person, other than the person or persons in whose name a deposit is held by a non-banking institution, shall be receivable by the non-banking institution, nor shall the non-banking institution be bound by any such notice even though expressly given to it: Provided that where any decree order, certificate or other authority from a court of competent jurisdiction relating to such deposit is procuced before a non-banking institution, the non-banking institution shall take due note of such decree, order, certificate or other authority.] _______________________ 1. Inserted by Act 23 of 1997, section 8 (w.r.e.f. 9-1-1997).

The Tripura Protection of Interest of Depositors (in Financial Establishments) (Amendment) Act, 2011 Complete Act

State: Tripura

Year: 2011

.....of the competent authority., may file appeal to the State Government within a month from date of the order. Such appeal shall be heard by an officer not below the rank of a Secretary as the State Government may authorize provided that no appeal will be admitted without deposition of the amount of penalty ordered by the competent authority or reduced amount if any by the appellate authority. 4. Substitution of Section 14. For Section 14 of the Principal Act, the following Section shall be substituted, namely:- "14. Notwithstanding anything to the contrary contained in any other Act, except the Act or Acts enacted by Parliament and the rules framed thereunder, the provisions of this Act shall apply." Tripura State Acts