deposit taker who accepts deposits in contravention of section 3 and fraudulently defaults in repayment of such deposits or in rendering any specified service, shall ... Deposit Scheme. Explanation. - For the purposes of this Act, - (i) the expression "fraudulently" shall have the same meaning as assigned to it in section
Section 4 in Banning of Unregulated Deposit Schemes Act, 2019
4. Fraudulent default in Regulated Deposit Schemes.
- No deposit taker, while accepting deposits pursuant ... Regulated Deposit Scheme, shall commit any fraudulent default in the repayment or return of deposit on maturity or in rendering any specified service promised against
three times the amount of profits made out of the fraudulent default referred to in said section, whichever is higher, or with both
Banking Regulation Act, 1949 (No. 10 of 1949); (i) "Fraudulent default" means any financial establishment, which fraudulently defaults any repayment of deposits on maturity ... complaints received from depositors or otherwise, that any financial establishment has fraudulently defaulted. (ii) That any financial establishment is acting in a calculated manner with
Government of Bihar. (f) "Prescribed" means prescribed under the Rules. 3. Fraudulent default by Financial Establishment.
- Where any Financial Establishment, having fraudulently or dishonestly, defaults ... render the specific service, fraudulently. Explanation II. - When a question arises whether any Financial Establishment has committed fraudulent default within the meaning of this section
Interests of Depositors (In Financial Establishments) Act, 2000
3. Conviction for Fraudulent default.
- Any Financial Establishment which (i) fraudulently defaults any repayment of deposit ... same when needed, shall be deemed to have committed a default fraudulently or failed to render specific service fraudulently
Government of Jharkhand. (6) "Prescribed" means prescribed under the Rules. 3. Fraudulent default by Financial Establishment.
- Where any Financial Establishment, having fraudulently or dishonestly, defaults ... render the specific service, fraudulently. Explanation - II. - When a question arises whether any Financial Establishment has committed fraudulent default within the meaning of the Section
Government of Tripura. Chapter - II Default and Remedies 3. Conviction for Fraudulent default.
- Any Financial Establishment which (i) fraudulently defaults any repayment of deposit ... have committed a default fraudulently or failed to render specific service fraudulently. 4. Attachment of Properties on default.
(1) Notwithstanding anything contained in any other
Protection of Interest of depositors (in Financial Establishments), Act, 2011
3. Fraudulent default by Financial Establishment.
- Where any Financial Establishment, having fraudulently or dishonestly, defaults ... render the specific service, fraudulently. Explanation - II. - When a question arises whether any Financial Establishment has committed fraudulent default within the meaning of the Section
Protection of Interests of Depositors (in Financial Establishments) Act, 2002
3. Fraudulent default by Financial Establishment.
- Where any Financial Establishment, having fraudulently or dishonestly, defaults ... render the specific service, fraudulently. Explanation II. - When a question arises whether any Financial Establishment has committed fraudulent default within the meaning of this section
