Tag: Unregulated Deposit Schemes

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 …

The Banning of Unregulated Deposit Schemes Act 2019 has received the assent of the President on the 31st July, 2019. The Act puts a comprehensive ban on unregulated deposit taking activity making it a punishable offence The President of India on the 21st February, 2019 had promulgated the …