https://www.taxtmi.com/article/detailed?id=8659 The Act bans promotion, solicitation and acceptance of deposits under unregulated deposit schemes, defines 'deposit' and 'deposit taker' with enumerated exclusions, and lists regulated schemes. Competent authorities have civil court like powers to investigate, provisionally attach and vest assets, share information with regulators and investigating agencies, and seek confirmation from Designated Courts which may realize assets, prioritize depositor claims and order disgorgement. The statute creates offences for fraudulent default and wrongful inducement, makes most offences cognizable and non bailable, and provides appellate and transfer mechanisms. en-us Tue, 06 Aug 2019 06:13:23 +0530 Tue, 06 Aug 2019 06:13:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8659 The Act bans promotion, solicitation and acceptance of deposits under unregulated deposit schemes, defines 'deposit' and 'deposit taker' with enumerated exclusions, and lists regulated schemes. Competent authorities have civil court like powers to investigate, provisionally attach and vest assets, share information with regulators and investigating agencies, and seek confirmation from Designated Courts which may realize assets, prioritize depositor claims and order disgorgement. The statute creates offences for fraudulent default and wrongful inducement, makes most offences cognizable and non bailable, and provides appellate and transfer mechanisms. Articles Corporate Laws / IBC / SEBI Tue, 06 Aug 2019 06:13:23 +0530 https://www.taxtmi.com/article/detailed?id=8659