https://www.taxtmi.com/news?id=21831 The Act bans Unregulated Deposit Schemes, defines deposit takers and regulated schemes, and establishes Competent Authorities with powers to provisionally attach deposits and property, operate a central database, and require information. Designated Courts confirm attachments, order sale and equitable distribution, and give depositors priority over other creditors. The Act prescribes graded criminal penalties for solicitation, acceptance and fraudulent default, makes specified offences cognizable and non bailable, and provides search, seizure and freezing powers with procedural safeguards. en-us Thu, 01 Aug 2019 09:51:02 +0530 Wed, 11 Feb 2026 15:58:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21831 The Act bans Unregulated Deposit Schemes, defines deposit takers and regulated schemes, and establishes Competent Authorities with powers to provisionally attach deposits and property, operate a central database, and require information. Designated Courts confirm attachments, order sale and equitable distribution, and give depositors priority over other creditors. The Act prescribes graded criminal penalties for solicitation, acceptance and fraudulent default, makes specified offences cognizable and non bailable, and provides search, seizure and freezing powers with procedural safeguards. News - Thu, 01 Aug 2019 09:51:02 +0530 https://www.taxtmi.com/news?id=21831