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Issues: Whether the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 was constitutionally valid.
Analysis: The challenge to the Act was considered in the light of the earlier decision upholding a similar depositors protection enactment. On that basis, the Court found that the High Court's view striking down the Act could not be sustained. The Court limited its consideration to the question of constitutional validity and did not enter into other issues.
Conclusion: The Act was held constitutionally valid and the High Court's judgment was set aside.