Section 2(2) in U.P. Protection of Interest of Depositors in Financial Establishment Act, 2016
(2)any other institution that may be specified by notification issued by the State Government in this behalf;(v)any amount received in the Ordinary course of business by way of security deposit, dealership deposit, earnest money or advance against order for goods or services;(vi)any amount received form an individual or a firm or an association of individuals not being a body corporate, registered under any enactment relating to money leading which is for the time being in force in the State; and(vii)any amount received by way of subscriptions in respect of a Chit;Explanation I. - "Chit has the meaning as assigned to it in clause (b) of Section 2 of the Chit Funds Act, 1982 (Act No. 40 of 1982).Explanation II. - Any credit given by a seller to a buyer on the sale of any property (whether movable or immovable) shall not be deemed to be a deposit for the purposes of this clause.Explanation III. - Any amount collected by builders/real estate companies or any person for sale of plot or flat or house or any such arrangement with the State of Uttar Pradesh shall be deemed to be a deposit for the purposes of this clause.(viii)Amount raised by unlisted companies by way of share capital or debenture/bonds in compliance with provisions of Chapter III and IV of the Companies Act, 2013;(ix)Deposits raised by companies in compliance with provisions of Sections 73, 74, 75 & 76 of the Companies Act, 2013.(d)"Financial Establishment" means any person accepting deposit under any scheme or arrangement or in any other manner and shall include a company or association or body of individuals, whether incorporated or not but does not include a corporation or a co-operative society owned or controlled by any State Government or the Central Government or banking company as defined under clause (c) of Section 5 of the Banking Regulation Act, 1949.
