https://www.taxtmi.com/news?id=21146 The Ordinance bans Unregulated Deposit Schemes, defines regulated schemes listed in the First Schedule, and requires deposit takers to intimate an online central database. Appropriate Governments appoint Competent Authorities with powers to investigate, provisionally attach deposits and property, and seek confirmation from Designated Courts, which may order sale and equitable distribution to depositors. Depositor claims have priority over other debts; offences for soliciting or accepting unregulated deposits and for fraudulent default carry substantial minimum imprisonment and fines. Search, seizure and freezing powers and CBI referral for multi state or large value cases are provided. en-us Fri, 22 Feb 2019 10:55:38 +0530 Wed, 11 Feb 2026 15:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21146 The Ordinance bans Unregulated Deposit Schemes, defines regulated schemes listed in the First Schedule, and requires deposit takers to intimate an online central database. Appropriate Governments appoint Competent Authorities with powers to investigate, provisionally attach deposits and property, and seek confirmation from Designated Courts, which may order sale and equitable distribution to depositors. Depositor claims have priority over other debts; offences for soliciting or accepting unregulated deposits and for fraudulent default carry substantial minimum imprisonment and fines. Search, seizure and freezing powers and CBI referral for multi state or large value cases are provided. News - Fri, 22 Feb 2019 10:55:38 +0530 https://www.taxtmi.com/news?id=21146