Bare Act Search Results

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.....

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

Title: Chapter Iv

State: Karnataka

Year: 2004

.....for such area or areas or for such class or classes of cases. (2) No Court including the Court constituted under the Presidency Towns Insolvency Act, 1909 (Act 3 of 1909) and the Provincial Insolvency Act, 1920 (Act 5 of 1920) other than the Special Court shall have jurisdiction in respect of any mailer to which the provisions of this Act is invoked. (3) Any pending case in any other Court in respect of which the provisions of this Act invoked, shall stand transferred to the Designated Courts from the date of notification issued under sub-section (1). Section 11 - Powers of the Special Court regarding realisation of assets and payment to depositors (1) The Special Court shall have all the powers for giving effect to the provisions of this Act. (2) Without prejudice to the generality of sub-section (1), the Special Court may.-- (a) give any direction to the Competent Authority as it deems fit, for effective implementation of the provisions of this Act; (b) approve the statement of dues of the financial establishment due from various debtors, assessment of the value of the assets of the financial establishment, finalise the list of the depositors and their.....

Karnataka Protection Oe Interest of Depositors in Financial Establishments Act, 2004 Section 12

Title: Powers of Special Court Regarding Attachment

State: Karnataka

Year: 2004

.....unless it is also satisfied that there will remain under attachment an amount or property of value not less than the value that is required for repayment to the depositors of such financial establishment. (7) Where the Special Court passes an order under sub-section (6), making the order of attachment absolute or varying the order of attachment by releasing a portion of the property from attachment it may, issue such direction as may be necessary for realisation of the assets attached and for the equitable distribution amongst the depositors of the money realised from and out of the assets so attached. (8) Where an application is made by any person duly authorised or constituted or specified by any other State Government under similar enactment empowering him to exercise control over any money or property or assets attached by that State Government, the Special Court shall exercise all its powers, as if, such an application were made under this Act and pass appropriate order or direction on such application so as to give effect to the provisions of such enactment.

Evacuee Interest Separation Act 1951 [Repealed] Chapter II

Title: Separation of Evacuee Interest in Composite Property

State: Central

Year: 1951

.....or the claimant the amount payable under the mortgage debt and redeem the mortgaged property; or (ii) sell the mortgaged property for satisfaction of the mortgage debt and distribute the sale proceeds thereof; or (iii) partition the property between the mortgagor and the mortgagee having regard to the share to which the mortgagee would be entitled in lieu of his claim; (c) adopt a combination of all or some of the aforesaid measures: Provided that before taking any measure under this section, the competent officer shall take into account the order of preference filed by the claimant under clause (f) of sub-section (2) of section 7; and in any case where the claimant is a mortgagor and tenders the amount due, the competent officer shall accept the same in full satisfaction of the mortgage debt. Section 11 - Vesting of evacuee interest in the Custodian free from encumberances and payments, etc., to be valid discharge from all claims (1) Where in respect of any property, notice under section 6 is issued but no claim is filed or found to exist or where any claim in respect of such property is found to exist and the competent officer separates the evacuee interest.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Chapter III

Title: Enforcement of Security Interest

State: Central

Year: 2002

.....management of the business of the borrower shall be entitled to any compensation for the loss of office or for the premature termination under this Act of any contract of management entered into by him with the borrower. (2) Nothing contained in sub-section (1) shall affect the right of any such managing director or any other director or manager of any such person in charge of management to recover from the business of the borrower, moneys recoverable otherwise than by way of such compensation. Section 17 - Right to appeal (1) Any person (including borrower), aggrieved by any of the measures referred to in sub-section (4) of section 13 taken by the secured creditor or his authorised officer under this Chapter,1[may make an application along with such fee, as may be prescribed,] to the Debts Recovery Tribunal having jurisdiction in the matter within forty-five days from the date on which such measure had been taken. 2["Provided that different fees may be prescribed for making the application by the borrower and the person other than the borrower. Explanation- For the removal of doubts, it is hereby declared that the communication of reasons to the borrower by the.....

Interest Tax Act, 1974 Section 6

Title: Computation of Chargeable Interest

State: Central

Year: 1974

.....sub-section, shall be allowed from the total amount of interest accruing or arising to the assessee. (2) In computing the chargeable interest of a previous year, the amount of interest which accrues or arises to the assessee2[before the 1st day of August, 1974 or3[during the period commencing on the 1st day of April, 1985 and ending with the 30th day of September, 1991] shall not be taken into account. ___________________________ 1. Substituted for the words "scheduled banks" by Finance (No. 2) Act (49 of 1991), Section 95 (1-10-91). 2. Substituted for words, figures and letters "before the 1st day of August, 1974" by Finance Act, 1978 (19 of 1978), Section 33(1-4-1978). 3. Substituted for words, figures and letters "after the 31st day of March, 1985" by Finance (No. 2) Act (49 of 1991), Section 95 (1-10-91).

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 16B

Title: Interest for Defaults in Furnishing Return of Gifts

State: Central

Year: 1958

1[16B. Interest for defaults in furnishing return of gifts (1) Where a return of gifts for any assessment year under sub-section (I) of section 13 or section 14, or in response to a notice under clause (i) of sub-section (4) of section 15, is furnished after the 30th day of June of such year, or is not furnished, the assessee shall be liable to pay simple interest at the rate of two percent, for every month or part of a month comprised in the period commencing on the 1st day of July of the assessment year, and,-- (a) where the return is furnished after the 30th day of June ending on the date of furnishing of the return; or (b) where no return has been furnished, ending on the date of completion of the assessment under sub-section (5) of section 15, on the amount of tax payable on the taxable gifts as determined2[under sub-section (1) of section 15 or] on regular assessment. 3[Explanation I.-In this sub-section, "tax payable on the taxable gifts as determined under sub-section (1) of section 15" shall not include the additional gift-tax, if any payable under section 15.] Explanation 2.-- Where in relation to an assessment year the assessment is made for the first time.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 13

Title: Enforcement of Security Interest

State: Central

Year: 2002

.....secured creditor of such company, who opts to realise his security instead of relinquishing his security and proving his debt under proviso to subsection (1) of section 529 of the Companies Act, 1956, may retain the sale proceeds of his secured assets after depositing the workmen's dues with the liquidator in accordance with the provisions of section 529A of that Act; Provided also that the liquidator referred to in the second proviso shall intimate the secured creditor the workmen's dues in accordance with the provisions of section 529A of the Companies Act, 1956 and in case such workmen's dues cannot be ascertained, the liquidator shall intimate the estimated amount of workmen's dues under that section to the secured creditor and in such case the secured creditor may retain the sale proceeds of the secured assets after depositing the amount of such estimated dues with the liquidator: Provided also that in case the secured creditor deposits the estimated amount of workmen's dues, such creditor shall be liable to pay the balance of the workmen's dues or entitled to receive the excess amount, if any, deposited by the secured creditor with the liquidator: Provided also.....

Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Chapter 2

Title: Amendments to the Securitisation and Reconstructionof Financial Assets and Enforcement of Security Interest Act, 2002

State: Central

Year: 2004

.....section 18 or section 18A, holds that the possession of secured assets by the secured creditor is not in accordance with the provisions of this Act and rules made thereunder and directs the secured creditors to return such secured assets to the concerned borrowers, such borrower shall be entitled to the payment of such compensation and costs as may be determined by such Tribunal or Court of District Judge or Appellate Tribunal or the High Court referred to in section 18B.". Section 15 - Amendment of section 25 In section 25 of the principal Act,-- (a) after sub-section (1), the following sub-section shall be inserted, namely:-- "(1A) On receipt of intimation under sub-section (1), the Central Registrar shall order that a memorandum of satisfaction shall be entered in the Central Register." (b) in sub-section (2), for the words "The Central Registrar shall, on receipt of such intimation", the words, brackets and figures "If the concerned borrower gives an intimation to the Central Registrar for not recording the payment or satisfaction referred to in sub-section (1), the Central Registrar shall on receipt of such intimation" shall be substituted. Section 16 -.....