Insertion of new Chapter XXB

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.... AS TO MODE OF REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX 269T. Mode of repayment of certain deposits. (1) No company (including a banking company), co-operative society or firm shall repay to any person any deposit otherwise than by an account payee cheque or account payee bank draft where the amount of the deposit, or where the amount of the deposit is to be repaid....

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....an account payee cheque or account payee bank, draft drawn in the name of the person who has made the deposit if- (a) the amount of the deposit together with interest, if any, payable thereon, or (b) the aggregate amount of the deposits held by such person with the branch of the banking company or co-operative bank or, as the case may be, the other company or co-operative society....