Ban on unregulated deposit schemes establishes nationwide prohibition and depositor protection with specified commencement. The Act creates a statutory mechanism to prohibit unregulated deposit schemes (excluding deposits taken in the ordinary course of business) and to protect depositors. Titled the Banning of Unregulated Deposit Schemes Act, 2019, it extends to the whole of India except Jammu and Kashmir and is deemed to have commenced on 21 February 2019.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Ban on unregulated deposit schemes establishes nationwide prohibition and depositor protection with specified commencement.
The Act creates a statutory mechanism to prohibit unregulated deposit schemes (excluding deposits taken in the ordinary course of business) and to protect depositors. Titled the Banning of Unregulated Deposit Schemes Act, 2019, it extends to the whole of India except Jammu and Kashmir and is deemed to have commenced on 21 February 2019.
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