Section 2(3) in Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997
(3)"Financial Establishment" means an individual, an association of individuals, a firm or a company registered under the companies Act, 1956 (Central Act 1 of 1956) carrying on the business of receiving deposits under any scheme or arrangement or in any other manner but does not include a corporation or a co-operative society owned or controlled by any State Government: or the Central Government, or a banking company as defined in section 5(c) of the Banking Regulation Act 1949 (Central Act X of 1949).
