An act to protect the deposits made by the public in the financial establish nents and matters relating thereto. Protection of interest of depositors in financial establishments act, 2004. Maharashtra protection of interests of depositors in financial establishments act, 1999 mpida the supreme court on monday declared as valid the maharashtra protection of interests of depositors in financial establishments act, 1999 mpida, which offers relief to depositors who have been duped by nonbanking financial institutions. Protection of interest of depositors in financial establishment act, gujarat, 2003 hindu places of public worship entry authorisation act, gujarat provincial collection of taxes act, gujarat. Section 3 of maharashtra protection of interest of depositors in financial establishments act for short mpid act, 1999. Whereas, it is felt expedient to amend the tripura protection of interest of depositors in financial establishments act, 2000 to provide more protection to the interest of the depositors in financial establishments and to curb menace of fly by night operators aimed at defrauding the depositors.
Buy online current publications maharashtra protection of interest of depositors in financial establishments act, 1999 only at. The supreme court on monday declared as valid the maharashtra protection of interests of depositors in financial establishments act, 1999 mpida, which offers relief to depositors who. Maharashtra government gazette, part iv, on the 21st. And whereas it is expedient to replace the maharashtra protection of interest of depositors in financial establishments continuance ordinance, 1999 by an act of the state legislature. Sections 420, 468, 471 and 120b read with section 34 of indian penal code section 58 reserve bank of india act 1934. Apr 19, 2020 maharashtra protection of interest of depositors latest breaking news, pictures, videos, and special reports from the economic times. Kulkarni and his wife considering the magnitude of the multicrore scam. Read maharashtra protection of interest of depositors act latest news also find videos, photos and information about maharashtra protection of interest of depositors act from zeebiz. The andhra pradesh protection of depositors of financial establishments act, 1999 a. In exercise of the powers conferred by subsection 1 of section 6 of the maharashtra protection of interest of depositors. High court of bombay removes intercorporate deposits. In april, a special court for maharashtra protection of interest of depositors mpid act had rejected the regular bail applications of mr. Maharashtra protection of interest o f depositors latest breaking news, pictures, videos, and special reports from the economic times.
While every care has been taken in the preparation of this between the lines to ensure its accuracy at the time of publication, vaish associates advocates assumes no. Maharashtra protection of interest of depositors act 1999. The following act of the tamil nadu legislative assembly received the assent of the president on the. Deposit protection act the full wording of the act of the national council of the slovak republic no. Watch videos, top stories and articles on maharashtra protection of interest of depositors act. Dec 22, 2014 section 3 of maharashtra protection of interest of depositors in financial establishments act for short mpid act, 1999.
Ajit prakashans maharashtra protection of interest of depositors. The maharashtra protection of interest of depositors act 1999. Maharashtra protection of interest of depositers in financial establishments act, 1999 is an act of maharashtra state legislature to protect the interest of depositers of maharashtra state in the financial establishments and matters relating thereto. For statement of objects and reasons, see maharashtra government gazette, part va, p. Mizoram protection of interest of depositors act, 2002 as amended. An act to protect the interest of depositors in the financial. The maharashtra protection of interest of depositors act 1999 by bare act.
Displaying categorized search results for maharashtra protection of interests of depositors act advance search news. Maharashtra protection of interest of depositors news. Depositors in financial establishments act, 2000, the governor of tripura, is hereby pleased to make the following l. An amendment to the maharashtra protection of interest of depositors act mpi the maharashtra government has introduced fresh and stringent guidelines to protect gullible depositors and.
Maharashtra protection of interest of depositors in financial establishments act. Home shop maharashtra state law maharashtra protection of interest of depositors act 1999 and rules. Full text of the gujarat protection of interest of. Maha protection of interest o f depositors act blogs, comments and archive news on. Home shop maharashtra state law maharashtra protection of interest of depositors act 1999 and rules maharashtra protection of interest of depositors act 1999 and rules. Cea in a sudden move, the rbi yesterday capped withdrawals at rs 50,000. Rules regulations notifications orders circulars statutory. Maharashtra protection of interest of depositors in financial establishments act, 1999. Maharashtra protection of interest of depositors in.
The tamil nadu protection of interests of depositors in financial establishments act, 1997 act 44 of 1997 keywords. Maharashtra attaches four properties linked to dsk group. This act received the assent of the president on the 20th january 2000. The most anticipated judgment that came on thursday in the nsel crisis case, where the bombay high court had dismissed the plea by financial technologies india limited in questioning the applicability of the maharashtra protection of interest of depositors in financial establishment act mpid to the rs 5,600crore nsel payment crisis. Short title and commencement 1this act may be called the maharashtra protection of interest of depositors in financial establishments. The chit funds act and up chit fund rules 1988 uttar pradesh the uttar pradesh protection of interest of depositors in financial establishments act, 2016 and rules thereunder. In this act, unless the context otherwise requires. Maharashtra protection of interest of depositors act to. The accused have been booked under indian penal code sections 420 cheating and 406 criminal breach of trust, and provisions of the maharashtra protection of interests of depositors mpid act. Sep 16, 2016 an amendment to the maharashtra protection of interest of depositors act mpid, 1999, now includes in its ambit companies incorporated under the companies act, 1956, and nonbanking financial. Maharashtra protection of interest of depositors blogs, comments and archive news on. Fadnavis said the maharashtra protection of interest of depositors in financial establishments act, 1999, mpid approved by the maharashtra government, had been ratified by the supreme court but added that they had realized its shortcomings, namely, those relating to the confiscation of property and its sale.
Protection of interest of depositors in financial establishments act the state governments and their machineries have specific provisions for the recovery by attachment and sale of assets of the defaulting companies, entities or their officials in case of customer cheating by using the provisions of the act. Intercorporate deposit to fall outside the ambit of deposit under the maharashtra protection of interest of depositors in financial establishments act, 1999 october 30, 2019 published in. Maharashtra protection of interest of depositors act. Bombay high court the provisions of the maharashtra protection of interest of depositors act for short mpid act, were applied to the facts of the case. A day after the supreme court upheld the validity of the protection of interests of depositors in financial establishments act 2004 by the pondicherry assembly, the punjab cabinet cleared the decks to bring about a similar act to protest the interest of investors against fraud by financial establishments. The supreme court on monday declared as valid the maharashtra protection of interests of depositors in financial establishments act, 1999 mpida, which offers relief to depositors who have been duped by nonbanking financial institutions. Maharashtra protection of interest of depositors in financial. Sc upholds protection for depositors, punjab to enact law. Prohibition of transfer of immovable property and provision for protection of tenants from eviction protection of interest of depositors in financial establishment act, gujarat, 2003 hindu places of public worship entry authorisation act, gujarat. Wikiproject india maharashtra this article is within the. In the high court of judicature at bombay and 257, chakala. Maharashtra protection of interest of depositors act 1999 and. A special mpid maharashtra protection of interest of depositors act court would hear on tuesday the anticipatory bail application of joseph. In exercise of the powers conferred by subsection 1 of section 6 of the maharashtra protection of interest of depositors in financial establishment act, 1999mah.
Know about bank of maharashtra scam 2018 latest scam india. Sc upholds protection for depositors,punjab to enact law. Latest and breaking news on maharashtra protection of interest of depositors. The chief minister devendra fadnavis on wednesday told the legislative council that, the state government is taking into consideration to amend the maharashtra protection of interest of depositors act mpida to include developers. Notification law and judiciary department madam kama marg, hutatma rajguru chowk, mantralaya, mumbai400032. The maharashtra protection of interest of depositors in financial establishments act, 1999 act 16 of 2000 keywords. Maha protection of interest o f depositors act latest breaking news, pictures, videos, and special reports from the economic times. Nov 30, 2017 according to them, offence was registered against respondent nos. Maharashtra protection of interest of depositers in financial establishments act, 1999. Our bureau the maharashtra government could make amendments to the mpid act for protecting depositors and investors, who get duped by fraudulent schemes, said devendra fadnavis, chief minister of maha. The maharashtra protection of interest of depositors in financial establishments act, 1999. Action against financial institutions who failed to return the deposit interest.
Maharashtra protection of interest of depositors act mpid. Relief for depositors as sc declares act valid pune news. An act to establish a deposit insurance fund for the protection of depositors. Fadnavis said the maharashtra protection of interest of depositors in financial establishments act, 1999, mpid approved by the maharashtra government, had been ratified by the supreme court but added that they had realized its shortcomings, namely, those relating to. Maharashtra protection of interest of depositors act 1999 and rules.
Explore maharashtra protection of interest of depositors. Oct 19, 2015 the most anticipated judgment that came on thursday in the nsel crisis case, where the bombay high court had dismissed the plea by financial technologies india limited in questioning the applicability of the maharashtra protection of interest of depositors in financial establishment act mpid to the rs 5,600crore nsel payment crisis. Amitabh gupta, the departments principal secretary special, issued the notification on june 18 under the maharashtra protection of interest of depositors mpid act. Maharashtra protection of interest o f depositors blogs, comments and archive news on. A day after the supreme court upheld the validity of the protection of interests of depositors in financial establishments act 2004 by the pondicherry assembly,the punjab cabinet cleared the decks to bring about a similar act to protest the interest. The tamil nadu protection of interests of depositors in.
Maharashtra protection of interest of depositers in. This act may be cited as the protection of depositors act, 1999. Competent authority, deposit, financial establishment amendments appended. Watch videos, top stories and articles on maharashtra protection of interest o f depositors act. Maharashtra protection of interests of depositors in. The maharashtra protection of interest of depositors in. The aim and object of the maharashtra protection of interest of depositors in financial establishments act, 1999 in short, mpid act is to secure and protect the interest of the depositors investors. It has been published in the state gazette on july 17. Short title and commencement 1 1 these rules may be called the tripura protection of interest of. The appellant challenges various orders passed by learned special judge under maharashtra protection of interest of depositors act, 1999 mpid act. It is hereby enacted in the fiftieth year of the republic of india as follows.
Gujarat protection of interest of depositors in financial. Principal acts may or may not include subsequent amendments. Maharashtra protection of interests of depositors act. Be it enacted by the legislature of the state of odisha in the sixtysecond year of the republic of india as follows. The himachal pradesh protection of interests of depositors. In some cases the principal act andor amendment act may not be available. Current publications maharashtra protection of interest of. Buy ajit prakashans maharashtra protection of interest of depositors in financial establishments act, 1999 and rules 1999 marathi book online. Read more on maharashtra protection of interest of depositors act. This also means the act will apply on all exchanges.
The maharashtra protection of interest of depositors. Explore maharashtra protection of interest o f depositors profile at times of india for photos, videos and latest news of maharashtra protection of interest o f depositors. New rules to protect depositors in state the hindu. The state of tamil nadu is the pioneer in enacting the law titled the tamil nadu protection of interest of depositors act, 1997. Andhra pradesh protection of depositors of financial.
Buy the maharashtra protection of interest of depositors act 1999 online for rs. The tripura protection of interest of depositors in. Before his arrest, a number of other accused in this case were arrested from time to. An act to protect the interest of depositors of the financial establishments and for the matters connected therewith or incidental thereto.
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