It has been published in the state gazette on july 17. 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. This act received the assent of the president on the 20th january 2000. Maha protection of interest o f depositors act latest breaking news, pictures, videos, and special reports from the economic times. Before his arrest, a number of other accused in this case were arrested from time to. 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. 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. Maharashtra protection of interest of depositors act mpid.
Principal acts may or may not include subsequent amendments. Buy online current publications maharashtra protection of interest of depositors in financial establishments act, 1999 only at. Maharashtra protection of interest of depositors news. Maharashtra protection of interest of depositors in financial. This also means the act will apply on all exchanges. Protection of interest of depositors in financial establishments act, 2004. An act to protect the interest of depositors of the financial establishments and for the matters connected therewith or incidental thereto. Ajit prakashans maharashtra protection of interest of depositors. 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. Buy the maharashtra protection of interest of depositors act 1999 online for rs.
Buy ajit prakashans maharashtra protection of interest of depositors in financial establishments act, 1999 and rules 1999 marathi book online. Section 3 of maharashtra protection of interest of depositors in financial establishments act for short mpid act, 1999. Home shop maharashtra state law maharashtra protection of interest of depositors act 1999 and rules. The maharashtra protection of interest of depositors in. The appellant challenges various orders passed by learned special judge under maharashtra protection of interest of depositors act, 1999 mpid act. This article is supported by wikiproject maharashtra. 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. An act to protect the deposits made by the public in the financial establish nents and matters relating thereto. Deposit protection act the full wording of the act of the national council of the slovak republic no. The himachal pradesh protection of interests of depositors. An act to establish a deposit insurance fund for the protection of depositors. 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.
Explore maharashtra protection of interest of depositors. 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. Gujarat protection of interest of depositors in financial. In this act, unless the context otherwise requires.
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. Mizoram protection of interest of depositors act, 2002 as amended. Maharashtra protection of interest of depositers in financial establishments act, 1999. Maharashtra protection of interest of depositors in financial establishments act. Maharashtra protection of interest o f depositors latest breaking news, pictures, videos, and special reports from the economic times. In exercise of the powers conferred by subsection 1 of section 6 of the maharashtra protection of interest of depositors. Maha protection of interest o f depositors act blogs, comments and archive news on. Watch videos, top stories and articles on maharashtra protection of interest of depositors act.
Sections 420, 468, 471 and 120b read with section 34 of indian penal code section 58 reserve bank of india act 1934. The tamil nadu protection of interests of depositors in financial establishments act, 1997 act 44 of 1997 keywords. Latest and breaking news on maharashtra protection of interest of depositors. The maharashtra protection of interest of depositors act 1999 by bare act.
Apr 19, 2020 maharashtra protection of interest of depositors latest breaking news, pictures, videos, and special reports from the economic times. Short title and commencement 1this act may be called the maharashtra protection of interest of depositors in financial establishments. 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. In april, a special court for maharashtra protection of interest of depositors mpid act had rejected the regular bail applications of mr.
Dec 22, 2014 section 3 of maharashtra protection of interest of depositors in financial establishments act for short mpid act, 1999. 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. 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. Displaying categorized search results for maharashtra protection of interests of depositors act advance search news. Competent authority, deposit, financial establishment amendments appended. The maharashtra protection of interest of depositors act 1999. Currently, the protection of interest of depositors act already exists in various states in india. 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. 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.
An act to protect the interest of depositors in the financial. 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. 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. Kulkarni and his wife considering the magnitude of the multicrore scam. Maharashtra protection of interests of depositors act. 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. For statement of objects and reasons, see maharashtra government gazette, part va, p. Maharashtra protection of interest of depositors act 1999 and. The state of tamil nadu is the pioneer in enacting the law titled the tamil nadu protection of interest of depositors act, 1997. It is hereby enacted in the fiftieth year of the republic of india as follows. Relief for depositors as sc declares act valid pune news. The tamil nadu protection of interests of depositors in.
Cea in a sudden move, the rbi yesterday capped withdrawals at rs 50,000. The maharashtra protection of interest of depositors in financial establishments act, 1999 act 16 of 2000 keywords. Wikiproject india maharashtra this article is within the. 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. New rules to protect depositors in state the hindu. Maharashtra protection of interest of depositors act.
Know about bank of maharashtra scam 2018 latest scam india. Maharashtra protection of interest of depositors act 1999 and rules. Maharashtra protection of interest of depositors in financial establishments act, 1999. Rules regulations notifications orders circulars statutory. A special mpid maharashtra protection of interest of depositors act court would hear on tuesday the anticipatory bail application of joseph. Maharashtra attaches four properties linked to dsk group. Mpid act order of the high court of bombay dated september, 2019 relaxing intercorporate deposits from provisions of maharashtra protection of interest of depositors in financial establishments act, 1999 mpid act facts of the case a listed company is registered under the provisions of the companies act, 1956. Action against financial institutions who failed to return the deposit interest. Be it enacted by the legislature of the state of odisha in the sixtysecond year of the republic of india as follows. The maharashtra protection of interest of depositors in financial establishments act, 1999. The maharashtra protection of interest of depositors.
Notification law and judiciary department madam kama marg, hutatma rajguru chowk, mantralaya, mumbai400032. In some cases the principal act andor amendment act may not be available. Sc upholds protection for depositors,punjab to enact law. 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. 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. 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. Read more on maharashtra protection of interest of depositors act. The andhra pradesh protection of depositors of financial establishments act, 1999 a. Watch videos, top stories and articles on maharashtra protection of interest o f depositors act. Current publications maharashtra protection of interest of. Maharashtra protection of interest of depositors blogs, comments and archive news on.
This act may be cited as the protection of depositors act, 1999. 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. 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 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. Maharashtra protection of interest o f depositors blogs, comments and archive news on. 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. Andhra pradesh protection of depositors of financial. Maharashtra government gazette, part iv, on the 21st. Short title and commencement 1 1 these rules may be called the tripura protection of interest of. In the high court of judicature at bombay and 257, chakala. Maharashtra protection of interest of depositors act to. Maharashtra protection of interest of depositors in. Nov 30, 2017 according to them, offence was registered against respondent nos.
The tripura protection of interest of depositors in. The following act of the tamil nadu legislative assembly received the assent of the president on the. Maharashtra protection of interest of depositers in. 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.
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. Full text of the gujarat protection of interest of. Sc upholds protection for depositors, punjab to enact law. Depositors in financial establishments act, 2000, the governor of tripura, is hereby pleased to make the following l. 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. 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. 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.
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