Tag: Banning of Unregulated Deposit Schemes
Banning of Unregulated Deposit Schemes Rules 2020. Property of deposit taker can be attached on complaint by non depositor MINISTRY OF FINANCE(Department of Financial Services) NOTIFICATION New Delhi, the 12th February, 2020 S.O. 663 (E).— In exercise of the powers conferred by section 37 of the Banning of …
ICAI issues 226 FAQs on The Banning of Unregulated Deposit Schemes Ordinance 2019. CAs not to act in violation of Sections 3, 4 5 and 6 of the Ordinance. The ‘Banning of Unregulated Deposit Schemes Ordinance 2019’ was necessitated by the difficulties faced in investigating of ponzi-schemes. The …
Banning of Unregulated Deposit Schemes-Deposits by cooperative society from members, attachment of bank accounts/property under SEBI Act deleted The Banning of Unregulated Deposit Schemes Ordinance, 2019 had been promulgated to curb illicit deposits taking activities. The Ordinance bans Deposit Takers from promoting, operating, issuing advertisements or accepting deposits …