https://www.taxtmi.com/news?id=19641 The proposed central Bill establishes an ex ante prohibition on promoting, operating, advertising or accepting deposits in Unregulated Deposit Schemes, creates offences for running such schemes and for fraudulent default, and empowers State designated Competent Authorities to attach and realise assets for disgorgement and restitution to depositors; it prescribes timelines, defines "Deposit" and "Deposit Taker," provides for courts to oversee repayment, and enables a central online database and Central Government authority to modify the list of Regulated Deposit Schemes. en-us Tue, 20 Feb 2018 14:50:41 +0530 Tue, 20 Feb 2018 14:50:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19641 The proposed central Bill establishes an ex ante prohibition on promoting, operating, advertising or accepting deposits in Unregulated Deposit Schemes, creates offences for running such schemes and for fraudulent default, and empowers State designated Competent Authorities to attach and realise assets for disgorgement and restitution to depositors; it prescribes timelines, defines "Deposit" and "Deposit Taker," provides for courts to oversee repayment, and enables a central online database and Central Government authority to modify the list of Regulated Deposit Schemes. News - Tue, 20 Feb 2018 14:50:41 +0530 https://www.taxtmi.com/news?id=19641