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        Indian Laws

        Section 4 - Fraudulent default in Regulated Deposit Schemes.

        Banning of Unregulated Deposit Schemes Act, 2019
        Chapter II
        BANNING OF UNREGULATED DEPOSIT SCHEMES

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        Fraudulent default prohibited in regulated deposit schemes, barring deposit takers from failing to repay or render promised services. Prohibition on fraudulent default requires that any deposit taker accepting deposits under a Regulated Deposit Scheme must not commit fraudulent default in repayment or return of deposits on maturity or in rendering any specified service promised against such deposits, imposing affirmative obligations on deposit takers to honour maturity returns and promised services.
                        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.

                            Fraudulent default prohibited in regulated deposit schemes, barring deposit takers from failing to repay or render promised services.

                            Prohibition on fraudulent default requires that any deposit taker accepting deposits under a Regulated Deposit Scheme must not commit fraudulent default in repayment or return of deposits on maturity or in rendering any specified service promised against such deposits, imposing affirmative obligations on deposit takers to honour maturity returns and promised services.


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