Section 2 in Chhattisgarh Protection of Depositors Interest Act, 2005
2. Definitions.
- In this Act, unless the context otherwise requires,-(a)"Chief Justice" means Chief Justice of the High Court of Chhattisgarh;(b)"State" means State of Chhattisgarh;(c)"State Government" means State Government of Chhattisgarh;(d)"Competent Authority" means the authority appointed under Section 5 of the Act;(e)"Deposit" means "deposit" as defined in Section 45-1 (bb) of Reserve Bank of India Act, 1934 (No. 2 of 1934);(f)"Depositor" means person who makes deposit with company; and includes heir, legal representative, administrator or assignee of the depositor;(g)"District Magistrate" means person appointed as district magistrate under Section 20 of The Code of Criminal Procedure, 1973 (No. 2 of 1974);(h)"Financial establishment" means an individual, an association of individuals, firm or company incorporated under the Companies Act, 1956 (1 of 1956) receiving deposits under any scheme or arrangement or in any other manner but does not include, Corporation or Co-operative Society owned or controlled by the State Government or the Central Government, or Banking Company as defined under Section 5 of the Banking Regulation Act, 1949 (No. 10 of 1949);(i)"Fraudulent default" means any financial establishment, which fraudulently defaults any repayment of deposits on maturity and/or any benefit in the form of interest, bonus, profit or dues in any other form as promised or on maturity or fraudulently fails to render services as assured against the deposit;(j)"Special Court" means the special court constituted under Section 4 of the Act.
