https://www.taxtmi.com/news?id=21807 The Act bans Unregulated Deposit Schemes and forbids promotion, operation, advertisement or acceptance of deposits under such schemes; it defines deposits and deposit takers with specified exclusions, designates a Competent Authority with civil court powers to provisionally attach and vest property, and creates Designated Courts to confirm attachments, order sale and direct equitable distribution to depositors, with depositor claims given priority over other debts subject to certain statutory exceptions. en-us Thu, 25 Jul 2019 16:42:18 +0530 Wed, 11 Feb 2026 15:58:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21807 The Act bans Unregulated Deposit Schemes and forbids promotion, operation, advertisement or acceptance of deposits under such schemes; it defines deposits and deposit takers with specified exclusions, designates a Competent Authority with civil court powers to provisionally attach and vest property, and creates Designated Courts to confirm attachments, order sale and direct equitable distribution to depositors, with depositor claims given priority over other debts subject to certain statutory exceptions. News - Thu, 25 Jul 2019 16:42:18 +0530 https://www.taxtmi.com/news?id=21807