been filed against one Rajkumar
Basantani under various sections of the MPID Act . It would be
Page 2 of 29
J.V.Salunke ... Investigating Officer Inamdar was not such competent authority.
Further, section 8 of the MPID Act can be invoked only if the
properties already notified
offences
punishable under sections 409 , 420 , 477(A) , 120(B) of Indian
Penal Code, 1860 and section 3 of MPID Act. The petitioner ... prescribe.
18. Section 76-A of the Companies Act, 2013 provides punishment for
contravention of the provisions contained in section 73 or section
Act and constitution of
the Designated Court under Section 6 thereof with specific
powers conferred under Section 7 thereof, demonstrate the
emphasis under the MPID ... Act has been
enacted.
31. Once it is found that the Designated Court can indeed use
its discretion under Section 7(4) of the MPID
respondent No.1 while exercising powers under
Section 4(1) and Section 5(1) of MPID Act issued
Page ... with Rule 3(1) of
the MPID Rules framed under section 16(1) of the
MPID Act. It is submitted that section
against which the deposits were received in terms of
Section 4 of the MPID Act, 1999, the properties of its promoters
i.e. petitioners ... petitioner has raised a challenge
that in terms of Section 4 of the MPID Act, the Government
Tilak
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Act and constitution of
the Designated Court under Section 6 thereof with specific
powers conferred under Section 7 thereof, demonstrate the
emphasis under the MPID ... Act has been
enacted.
31. Once it is found that the Designated Court can indeed use
its discretion under Section 7(4) of the MPID
dated 18th March, 2016 came to be issued under section 4 of the
MPID Act by the Deputy Secretary, Home Department,
Government of Maharashtra ... terms
of section 7 enable it to deal with the same thoroughly. Sub-
section (5) of section 7 enables investigation of the
claim/objection, examination
Section 4 of
the Maharashtra Protection of Interest of Depositors Act in Financial
Establishments Act, 1999 (hereinafter referred to as ‘ MPID Act ’).
3. Learned ... Maharashtra Act and the Tamil Nadu Act.
59. […] The objects of the Tamil Nadu Act, the
Maharashtra Act and the Pondicherry Act being the same
nine others, under Section 420 read with Section 34 of IPC and Section 3 and 4 of MPID Act. The prosecution, pursuant ... consumer forum is barred under sub-section (2) of Section 6 of MPID Act. Even otherwise, the complainants have duly proved their case
offences punishable under
Section 120-B, 406, 420 r.w. 34 Indian Penal Code and under Section 3 of
MPID Act, 1999. The said ... Pradhan has invited our attention to
Sections 5 and 7 of the MPID Act, 1999 and submitted that these sections
are in direct conflict
