Scheme - Definition - Law Dictionary Home Dictionary Definition scheme

Definition :

Scheme, a 'scheme' is a carefully arranged and systematic programme of action. A transaction under which, one party deposits with the other or lends to that other a sum of money on promise of being paid interest at a rate higher than the agreed rate of interest cannot, without more, be a money circulation scheme' within the meaning of s. 2(c) of the Act, howsoever high the promised rate of interest may be in comparison with the agreed rate, State of West Bengal v. Swapan Kumar Guha, AIR 1982 SC 949 (953): (1982) 1 SCC 561: (1982) 3 SCR 121.

Means a scheme inviting subscription to security receipt proposed to be issued by a securitisation company or reconstruction company under that scheme. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(y)]

1. A systematic plan; a connected or orderly arrangement, esp. of related concepts 2. An artful plot or plan usu. to deceive others, Black's Law Dictionary, 7th Edn., p. 1346.

Scheme, denotes the systematic programme of action has to be a consensual arrangement between two or more persons under which, the subscriber agrees to advance or lend money on promise of being paid more money on the happening of any event or contingency relative or applicable to the enrolment of members into the programme, State of West Bengal v. Swapan Kumar Guha, AIR 1982 SC 949: (1982) 1 SCC 561: (1982) Cr LJ 819.

Means a scheme inviting subscription to security receipts proposed to be issued by a securitization company or reconstruction company under that scheme. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, s. 2(y)]

Means a scheme notified by the State Government under sub-s. (1) of s. 4. [National Rural Employ-ment Guarantee Act, 2005, s. 2(p)]