Depositors (In Financial Establishments) Act,
1999 (hereinafter referred to as " MPID Act ") against a "Financial
Establishment", as contemplated under the MPID ... Act , can be
challenged not before the Designated Court under the MPID Act but
before the National Company Law Tribunal (hereinafter referred
Depositors (In Financial Establishments) Act,
1999 (hereinafter referred to as " MPID Act "), the order dated
21.09.2018 passed below Exh.56 in Spl. MPID ... Appeal720.2018.odt
preferred under Section 7(3) of the MPID Act taken in Spl.(MPID) Case
No.290 of 2016 to the attachment
Financial Establishments) Act (hereinafter referred to as " MPID Act "
for short) read with Sections 3 , 4 & 5 of Prize Chits and Money ... Notification issued by the Government under the provisions of MPID
Act . The family members of the applicant has filed undertaking
before this Court stating that
Interest of Depositors (In Financial
Establishments) Act, 1999. (for short ' MPID Act ')
2. Heard Shri. Rajiv Chavan, learned Senior counsel for
the applicant ... accepted any cash amount. He further submitted
that, provisions of MPID Act are not applicable in this case as the
applicant cannot fall within
Protection of Interest of Depositors (In Financial Establishment)
Act, 1999 (" MPID Act ", for short).
::: Uploaded on - 29/02/2020 ::: Downloaded ... with
the MPID Special Case No.2 of 2017 with a
view to attach the same under the provisions of
MPID Act . The applicant
Depositors (In Financial Establishments)
Act, 1999 ( hereinafter referred as to ' MPID Act ')
2. In substance the allegations as can be made out from ... order dated 23.10.2019 passed by the
designated Court under the MPID Act he has been acquitted of all
other charges except Section
crime
was registered under Maharashtra Protection of Interest of Depositors (MPID)
Act also. Admittedly, the crime was registered under MPID Act also ... show that the crime was registered under
provisions of MPID Act also. The provisions of MPID Act have different
significance.
2. Learned counsel
Financial
Establishments) Act, 1999 (hereinafter referred to as the ' MPID Act '). By virtue
(3)
::: Uploaded on - 16/12/2020 ::: Downloaded ... about the fact that the provisions of
Section 3 of the MPID Act have been dropped. The application filed by the
present applicant at Exhibit
Protection of Interest of Depositors (in Financial
Establishments) Act, 1999 (' MPID Act ' for short) and Section ... investors and shall co-operate with the competent authority
under the MPID Act for auction/sale of the attached properties for
realisation of the said
Interest of Depositors (in Financial Establishments) Act, 1999'
(' MPID Act ' for short) as well as Section ... demonstrate that the Division Bench of this Court has held
that MPID Act can not be invoked in respect of transactions
at the spot exchange
