Delhi act 010 of 2001 : The DELHI PROTECTION OF INTERESTS OF DEPOSITORS (IN FINANCIAL ESTABLISHMENTS) ACT, 2001

(To be published in Part IV of Dethi Gazette, Extraordinary ). Government of National Capital Territory of Delhi Wepartment of Law, Justice & Legislative Affairs) C-Wing, 8" Level, Delhi Secretariat, I.P. Estate, New Delhi-110002. No. F.14 (24/LA-2001/ 557 ESO Dated the PP pasty, 2001. The following Act of Legislative Assembly of the National Capital Territory of Delhi received the assent of the Lieutenant Governor, Delhi on the 20" July, 2001 and is hereby published for general information ;-

THE DELHI PROTECTION OF INTERESTS OF DEPOSITORS (IN

FINANCIAL ESTABLISHMENTS) ACT, 2001

(Delhi Act No. 10 of 2001). (As passed by the Legislative Assembly of the National Capital Territory of Delhi on the 3" April, 2001).

ACT

{0 protect the interest of depositors (in Financial Establishments) In the National Capital Territory of Dethi

BE it enacted by the Legislative Assembly of the Delhi in the Fifly Second Year of the Republic of India as follows: ~

1. Short titleand (1) This Act may be called the Delhi Protection of Interests of commencement. Depositors (in Financial Establishments) Act, 2001

(2) It shall come into force at once.

2. Definitions, In this Act, unless the context otherwise requires,~

(a) "Assistant Collector" means an officer appointed as such under the Delhi Land Revenue Act, 1954 (Act 12 of 1954);

(b) "Competent Authority" means the authority appointed under section 5;

(d) "deposit" includes und shall be deemed always to have

included any receipt of money or acceptance of any valuable commodity by any financial establishment to be re turned after

a specified period or otherwise, either in cash or i n kind or in

the form of a specified service with or without an y benefit iv

the form of interest, bonus, profit or in any othe r form, but

does not include —

(i) amount raised by way of share capital or by way of

debenture, bond or any other instrument covered under the guidelines given, and regulations made,

by the SEBI,

established under the Securitics and Exchange Board of

India Act, 1992 (15 of 1992);

(ii) amounts contributed as capital by partners of a firm; t

(iii) amounts received fiom a scheduled bank or a co-

operative bank or any other banking company as defined in |

clause (c) of section 5 of the Banking Regulation Act, 1949,

* (10 of 1949);

(iv) any amount received from--

(a) the Industrial Development Bank of India;

(b) a State Financial Corporation;

section 6 A of the Industrial Development B ank

of India Act, 1964(18 of 1964),

(d) any other institution that may be specified by the

Government in this behalf, ss

(v) amount received in the ordinary course of business by way

of--

(a) security deposit,

(b) dealership deposit;

(d) advanced against order for goods or services;

(vi) any amount received from an individ ual or a firm or an

i assoc

iation of individuals not being a body corporate,

registered under any cnactment relating to money lending

which is for the time being in force in Delhi;

(vii) any amount received by way of subscri ptions in respect ofa

chit;

Explanation 1.-- "Chit" has the meaning a s assigned to it in clause

(2) of section 2. of the Madras Chit Fun ds Act, 1961 (Madras Act 24

of 1961) as extended to the National Capita l Territory of Delhi.

i Explana

tion II. -- Any credit given by aseller to a buyer on the sale

of any property (whether movable or-i mmovable) shall not be

3. Fraudulent default by Financial Establishment. deemed to be a deposit for the purposes of this clause;

(e) "Designated Court" means the Designated Court constituted under section 10;

(f) "Financial establishment" means a person or a group ~of persons accepting deposit under any scheme or arrangement or in any other manner but does not include a corporation or a * co-operative society owned or controlled by any State Government or the Central Government or the Government of any Union territory or a banking company as defined under clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);

(g) "Government" means the Government of the National Capital

Territory of Delhi;

(h) "Lieutenant Governor" means the Administrator of the

. National Capital Territory of Delhi appointed by the President under article 239 AA of the Constitution.

Any financial establishment, which fraudulently defaults any repayment of deposit on maturity along with any benefit in the

form of interest, bonus, profit or in any other form as promised or

fraudulently fails to render service as assured against the deposit,

every person including the promoter, partner, director, manager or

any other person or an cmployce responsible for the management of

or conducting of the business or affairs of such financial establishments shall, on conviction, be punished with imprisonment for a term which may extend to six years and with fine which may extend to one lakh rupecs and such financial establishment shall also be liable for a fine which may extend to one lakh rupees or where such deposit is quantifiable in terms of money, twice the ~ amount involved in such default, whichever is more:

Provided that in the absence of special and adequate reasons recorded in the judgement of the Court, the imprisonment shall not be less than six months and the fine shall not be less than twenty thousand rupees as against each individual and not less than one lakh rupees against such financial establishment. Explanation:--For the — purpe of this scction, a financial establishment, which commits default in repayment of such deposit with such benefits in the form of interest, bonus, profit or in any other form S promised or fails to render any specified service proinised against such deposit, or fails to render any specific service agreed against the deposit with an intention of causing wrongful gain o one person or wrongful loss to another person or commits such 'defaults duc to its inability arising out of impracticable or commercially not viable promises made while accepting such deposit or arising oul of deployment of money or

assets acquired out of the d eposits in such a manner as it involves

inherent risk in recovering, the same when needed, shall be deemed

to have committed a defau lt or failed to render the specific service,

fraudulently.

4. Attachment of (1) G overnment or the Deputy Commissioner of a revenu e area of

properties on Delhi in their respective jurisdicti on, suo-moto or on receipt of the

default of return complaints may cause investigation of a com plaint or fraudulent

of deposits. tran

saction referred to in sect ion 3. The Deputy Comm

issioner

shall forward his report to the Competent Authorit y appointed

under section 5 at the earliest.

(2) Notwithstanding anythin g contained in any other law for the

hk f

time being in force--

(i) where, upon complai nts received from the de positors, or

alisfied that any financial otherwise, the Governme nt is

establishment has failed,--

(a) to return the deposit af ter maturity or on demand by

the depositor; or

(b) to pay interest or other assured benefit; or

ainst such deposit;

rvice promised

ae where the Government has reason to believe that any financial establishment is acting in a manner detrimental to the interest of the depositors, with an intention to defraud them and if the Government is satisfied that such finaricial establishment is not likely to return the deposits or make payment of interest or other benefits assured or to provide the services against - which the deposit is received, the Government may- in order to protect the interest of depositors of such financial establishments, after recording reasons in writing, issue an order by publishing it in the official Gazette, attaching the money or other property believed to have been acquired by such financial establishment cither in its own name or in the name of any other person from out of the deposits collected by the financial establishment; or

if it transpires that such money or other property is not available for attachment or not sufficient for repayment of the deposits, such other property of the said financial establishment or the personal assets of the promoter, director, partner, or

manager or member of the said financial establishment, as the Government may think fit,

(3) On the publication of the order under sub-section (2), all-the properties and assets of the financial establishment and the perso ns

mentioned therein shall forthwith vest in the Competent Authority . appointed by the Government pending further order from the -

Designated Court.

5. Appointment (1) Government shall while issuing the order under sub-section

of Competent of section 4, appoint any of its officers not below the rank of a

Authority. Group 'A' officer as the Competent Authority to exercise

control over the money and the properties attached 'by' the i Government under section

(2) The Competent Authority shall apply within forty five days from the date of the publication of the said Order, to th e

Designated Court, supported by one or more affidavits statin g

» under section 4 and the amount of money or other prope rty.

| the grounds on wh

ich the Government has issued the said order | believed to have been

acquired out of the deposits and the

details, if any, of persons in whose name such property is | | believed to

have been invested or acquired or any other |

| property attached under section 4, for such further orders as |

| 5 found necessary.

j as

i y i

(3) 'The Competent Authority may also make an application to any Special Court or Designated Court or any other Judicial Forum

established or constituted or entrusted wit h the powers by any

'other State Government or the Gove rnment of any Union

territory for adjudicating any issue or s ubject matter pertaining,

to money or property or assets of financia l establishment under

any similar enactment and, where there is no such Designated

Court or any other Judicial Forum' ia respect of money or

property or assets belonging to or ostensibly belonging to a

financial establishment or any person notified under this Act

situated within the territorial jurisdict ion of that Designated

Court or any other judicial forum, as t he case may be, for

passing appropriate orders to give effec t to the provisions of

this Act.

6.Duties and (1) Without prejudice to the generalities of sub-section

(1) of power of the section 5, the Competent Authority may carry out the purpose of

Competent this Act.

Authority.

(2)(i) On receipt of order of appointment, the Competent

Authority shall take such necessary actions as_is necessary

or expedient for taking , physical possession of all the

monies, properties and asscls of the concerned financial

ee establishment

expeditiously and the Competent Authority

shall have all the powers which are necessary for the

aforesaid purpose.

(ii) Without prejudice to the ge nerality of the powers vested under sub-clause (i) of this s ub-section, the Competent Authority shall be entitled to-

(a) require assistance of any p olice officer or any other authority or person and on suc h requisition it shall be the duty of the police officer or such other authority or person to extend necessary a ssistance;

(b) open bank accounts in any scheduled commercial bank and credit all monies realized and operate the bank

accounts while dealing with the money received in his

capacity as Competent Authority;

(c) require any person belie ved to be in possession of financial establishment, to furnish necessary 5 'formation: to hand over p ossession of such assets to the competent authority and su ch person shall Somat with the requisition without any loss of time;

(d) appoint legal practitioner or chartered accountant or any other person whose services are nece ssary for taking

possession of asscts and realiza tion of the assets of the financial establishment; , 10 control over any moncy, pro perty or assets of the | | |

s o l a c e ai i

(e) sell, receive, transfer, endorse or otherwise deal with any marketable security or negotiable instrument belonging to or in the control of the financial establishment and give propel discharge for the same, () sell, transfer or otherwise realize any movable or immovable property belonging to or in the control of the financial establishment cither by public auction or with the prior approval of the Designated Court by private arrangements:

Provided that the perishable items of assets shall be sold by public auction as soon as the Competent Authority deems fit.

(g) make payment as per the orders passed by the Designated Court from the bank accounts, and

(h) do all and every act and deed which would be necessary for the speedy realization of the assets of the financial establishments.

5 Explanation: - For the purpose of this section, the expression

"financial establishment" includes the directors, promoters, mariagers or member of said establishment or any other perso n

whose property or assets have been attached under section

7. Assessment of (1) Within sixty days from the date of appointment, the Com petent

assets and deposit Authority shall assess the deposit linbil ities and the assets of the S

liabilities: (nancial establishment and submit t

he statement thereof to the

Designated Court.

(2) The Competent Authori ty thereafter shall issue a notice either,

individually or by mean s of effective media p ublication,

inviting the claims by secured cr editors, if a ny, and also the

depositors of the financia l establishment, to submi t their claims

with proper proof to establish the same.

(3) Every notice under s ub-section (2) sent to or deemed to have

been effected to claimant s shall state that, if th e statement of

claim is not sent to the C ompetent Authority be fore the expiry

of the period of one mon th from the date of not ice, the claims

shall not be treated as claim entitled to be pa id nner the

provisions of this Act.

(4) Every Notice sent to a secured creditor sh all require him to value the security before the expiry of the period of one month

from the date of notice and su ch notice shall also state that if the

statement of the claim t ogether with the valuatio n of the

security is not sent to the Competent 'Authority,

the Competent

Authority shall value th e security and his valu ation shall be

binding on such secured creditors.

as (5) If the

claimant fails to comply with the notice as per sub-

section (4), such security shall be valued by the' Competent Authority in his best judgement.

8. Report by the Afier making a report as per section 7, the Competent Authority Competent shall make an application to the Designated Court seeking Authority. permission to make payment to the depositors from out of the

" oniey realized'. 'While making such application, the Competent Authority shall assess the liability to the depositors and the other liabilities and in case the money realized or realizable is not i sufficient to meet the entire liability, make a submission to the Designated Court seeking permission for making payment to the depositors and disburse the money as per the orders' of the Designated Court.

Pp .

yg, Powers of the (1) Th e Designated Court shall ha ve all the po wers for givi ng

Designated C ourt

i effect to the provisions of this Act.

regarding

realization o f (2) Wi

thout prejudi ce to the gen erality of sub -section (1) the

assets and Designated Cour t may-

payment to

(a) give any direction to the Compete nt Authority as it

depositors. deems fit, for offective impl ementation of the provisions

of this Act;

(b) approve the statement of dues

of the finan cial

establishment due from va rious debtors, assessment o f

the value of th e assets of the financial est ablishment, finalize the list of the deposi tors and their respective

dues;

assets belongin g to or in th e control of t he financial i

% : es

tablishment and sell, tra nsfer OF rea lize the atta ched

assets either by public auc tion or by p rivale sale as he

deems fit depe nding upon t he nature of a ssets and cred it

the sale procee ds thereof to the bank accou nts;

(a) approve the necessary expenditure to be incurred by the

Competent

Authority for taking

possession and

realization of the assets of the financial establishment.

depositors in the event of the-money so realiz ed is not

sufficient to meet the entire deposit liability ; and

(f) pass any order which the Designated Court deems fit for realization of the a ssels of the financia l establishment and repayment to the depositors of the financial

establishment or on any matter or i ssue incidental thereto.

Explanation:- For the purpose of thi s section, the exp ression

'financial establish ment' includes | the directors, pr omoters,

managers or membe rs of said establi shment or any othe r person

\ |

i whose pr

operty or assets have been attached unde r section 4.

10. Designated (1) For the purpose of this Act, the Govern

ment may, with the

Court. co

ncurrence of the Chief Justi ce of the Delhi High Court, by

notification in the official G azette, constitute one or~mor e

Designated Courts in the Cad re of District and Sessions Judge

including Additional District and Sessions Judge for su ch area

or areas or for such ca

ses oF group of cases,

as may be

specified in the notification.

(2) No Court including the Court constiluted under t he Presidency

Towns Insolvency Act, 19 09 (3 of 1909) and the P rovincial

Insolvency Act, 1920 (5 o f 1920), other than the De signated

Court shall have jurisdicti on in respect of any matte r to which

the provisions of this Act is invoked.

(3) Any pending case in any other court in respect of which the

provisions of this Act i s invoked, shall stand t ransferred to the

Designated Courts from t he date of notification is sued under

subsection (2) of section 4 of this Act.

11.Powers of (1)

Upon receipt of an applica tion under section 5, the D esignated

\ Desig

nated Court Court

shall issue to the financi al establishment or to an y other

regarding

person whose property is attached and vested in the Competent

j ae attac

hment. Autho

rity by the Government under section 4, a

notice

a6 accompanied by the applicatio n and affidavits and of the evidence recorded, if any, calling upon the said establishment and the said person to show ca use on oF before a date to be specified in the notice, why the or der of attachment should not be made absolute.

(2) The Designated Court shall also issue such notice to all othe r

persons. represented to it as havi ng, or being likely to claim, an y

interest or title in the property of the finan cial establishment or

the person to whom the noti

ce is issued under sub-secti

on (1),

calling upon all such persons

to appear on the same date a

specified in the notice and make objection if they so desire to

the attachment of the property or any portion thereof, on the

ground that they have an inter

est in such property or portio

thereof.

(@) 'Any person claiming an

interest in the property attache d or any

portion thereof may, notwith

standing that no notice has b

een

served upon him under this

section, make an objection

aforesaid to the Designated Co

urt at any time on or before

the

* specified date before an orde

r is passed under sub-section

(4)

or sub-section (6).

(4) The Designated Court shall if no cause is shown and no

(5)

(6)

objections are made on or before the specified date, under sub- section (1), forthwith p;

an order making the order of

attachment absolute, and issue such direction as may be necessary for realisation of the assets attached and for. the equitable distribution amongst the depositors of the money realised from and out of the property attached. If cause is shown or any objection is made as aforesaid, the Designated Court shall proceed to investigate the same, and in so doing, as regards the examination of the parties and in all other respects, the Designated Court shall, subject to the provisions of this Act, follow the summary procedure as contemplated under the Code 'of Civil Procedure, 1908(5 of 1908) and exercise all the powers of a Court in hearing a suit under the said Code. Any person making an objection shall be required to adduce evidence to show that at the date of the attachment he had some interest in the property attached. After investigation under sub-section (5), the Designated Court shall pass an order as carly as possible preferably within one year of the reference of the case to it, either making the order of attachment passed under sub-section (2) of section 4 absolute. or varying it by releasing « portion of the property from attachment or canceling the order of attachment:

12.Attachment of property of mala fide transferees. Provided that the Designated Court shall not release from attachment any interest which it is satisficd that th e financial

establishment or the person referred to in sub-section (1) has-in the

property unless it is also satisficd that th ere will remain under

attachment an amount or property of value not less than the. valie

that is required for re-payment to the depositors of such financial

establishment.

(7) Where an application is made by any person dul y authorized or

constituted or specified by any other State Gove rnment or the

Government of any Union territory under similar enactment

empowering him to exercise control over a ny money or

property or assets attached by that State Go vernment or the

Government of a Union territory, the Design ated Court shall

exercise all its powers, as if, such an applic ation were made

under this Act and pass appropriate order or direction on such

application so as to give effect to the pr ovisions of such

enactment.

(1) Where the assets available for attachment of a financial establishment or other person referred to in section 4 are found

to be less than the amount or value which such Financial

Establishment is required to repay to the depositors and where

{ the Designated Court is satisfied by affi davit or otherwise that

there is reasonable cause for believing that the said financial

establishment has transferred (whe ther after the

commencement of this Act) any of the property otherwise than

in good faith and for consideration, the Designated Co urt viv

by notice, require any transferee of such property (wheth er 'or

not he received the property directly from the said financial

establishment) to appear on a date to be spec ified in the notice

and show cause why so much of the transf eree's property as is

equivalent to the proper value of the p

roperty transferred

should not be attached.

Where the said transferee does not app

ear and show cause on

jon in the maimer

the specified date, or where after inve

provided in sub-section (5) of section

7, the Designated Court

is satisfied that the transfer of the

property to the said

transferee was not in good faith and

for consideration, the

Designated Court shall order the attach

ment of so much of the

said transferce's property as in the op

inion of the Designated

Court is equivalent to the proper

value of the property

transferred.

13.Seeurity in lieu Any financial establishment or person whose property has been or

a8 of attachment. is about to be

attached under this Act may, al any time, apply to the

20,

Designated Court for permission to give securi ty in lict of such

attachment and where the securit y offered and given is, in the

opinion of the Designated Court, satisfact ory and sufficient, it may

cancel the order of attachment or, a s the case may be refrain from

passing the order of attachment

14, The Designated Court

may, on the application of any person Administration of © interested in any properly attached and vest

ed in the Competent

property Authority un

der this Act, and after giving the Competent Authority

| attached.

an opportunity of being heard, mak e such orders as the Designated

Court considers just and reasonabl e for --

2) providing fom such of the property attached and vested in

the Competent Authority as the applicant claims an

interest in such sums as may be reasonably nec essary: for

the maintenance of the applicant and of his fa mily, and for

expenses connected with the defence of the applicant

where criminal proceedings have

been instituted against

him in the Designated Court und

er section 33

may be practicable the interest of

(b) safeguarding so far any business affected by the attachment and in particular,

}

the interest of any partners in such b usiness;

(¢) liabilities accruing to a financial establishment oF person

emanating out of proceedings b

efore a Designated Court,

15.Appeal. 16.Special Public Prosecutor.

17. Procedure and powers of Designated Court regarding

offences

18. Act to shall be discharged in the manner prescribed by the Government out of the attached properties and assets in respect of such financial establishments or person referred to in section 4. ~

Any person including the Competent Authority, if aggrieved by an order of the Designated Court, may appeal to the High Court within sixty days from the date of order.

The Government shall, by notification, appoint an adv ocate of not

less than ten years standing at the Bar, as a Sp ecial Public

Prosecutor or Special Government pleader for

the purpose of

conducting the case in the Designated Court.

(1) The Designated Court may take cognizance of the offence Without the accused being committed to it for trial and, in tying the accused person, shall follow the procedure prescribed in the Code of Criminal Procedure, 1973 (2 of

SIONS CASCS

1974) for the tial of S

(2) The provisions of the Code of Criminal Procedure, 1973 (2 of 1974) shall, so far as may be, apply to the proceedings before a Designated Court and for the purposes of the said provisions, a Designated court shall be deemed to be a Court of Mag istrate.

Save as otherwise provided in this Act, the provisi ons of this Act

override other laws.

19. Protection of action taken in good faith

20. Power to delegate.

21. Power to make rules. shall have effect notwithstanding, anything inconsistent therewith contained in any other law for the time being in force or any custom?

or usage or any instrument having effect by virtue of any such law. No suit or other proceedings shall lic against the Government or the Competent Authority or an officer or employee of the Government for anything, which is in good faith done or intended to be done under this Act.

The Government may by notification in official Gazette, direct that powers exercisable by it under the Act may also be exercised by such officer as may be mentioned therein subject to such conditions if any, as may be specified therein,

(1) The Government may by Notification in the official Gazette make rules for carrying out all or any of the purposes of this Act,

In particular and without prejudice to the generality of the following power, such rules may provide for all or any of the following matters, namely

a) all matters expressly required or allowed by this Act to be prescribed;

b) the procedure for attachment of property on default of return of deposit and terms and conditions, if any, required for the purpose;

¢) the procedure for assessment of a

ts and deposit

liabilities by the Competent Authority,

4) the procedure for reporting to the Designated Cour t by the

Competent Authority;

¢) the manner in which the liabili

ties accruing to a financial

establishment or person cmanating out of the proceedings

before a Designated Court is to be

discharged out of the

attached propertics and assets in res pect of such financial

establishments oF persons;

f) the procedure for filing app eals by the Competent

Authority if aggrieved by an order of the Designa ted Courts

the maintenance of registers and b ooks of accounts by the

financial establishments covered

under this Act, the safe

custody of books, papers and documents in the office of the

Competent Authority and 'also f

or destruction of such

books, papers and documents no longer requi red;

h) the auditing of the Balance Sheets and Profit and Loss Accounts.

3. Every rule made by the Governme nt under this Act shall be laid as soon as may be after iti made before the House of the slative Assembly while it is in se ssion fora total period of thirty days which may be comprised in one ses sion or in two or

more su ions, and if,

before the expiry of the

session immediately following, th e session or the su

sessions aforesaid, the Legislative Assembly agrees in making

22. Power to remove

difficulties.

any modification in the rule or the Legislative Assembly agrees that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validily of anything previously done under that rule.

1) Ifany difficulty arises in giving effect to the provisions of this Act, the Government may, by 'order published in the Gazette, do anything, not inconsistent with the provisions of this Act, which appears to it to be ne ry to remove the difficulty;

Provided that no such order shall be made after the expiry of the period of two years from the date of commencement of this Act.

very order made under this section shall, as soon as may be afler it is made, be laid before the House of the Legislative Assembly,

Under Secretary (Law & Jud

> R. MAH HW. Under Secretary, (Lan Govt, of Delhi (Law & Judi. De li. Deptt) ba pachivalaya,

fPeal) TA oATETEUT OIA M gete tara areget crameh wa Peay eee, fPaPa, ra wd Paerreh ard Permit, sar aa, "at Petn, Pawel aPaaree, ard -0T C

RC,

aerriet: tagoap Paar ari-20017 57 65 2 Peat Apes tbo srcrenrra, Pee af Fens 20 yert,2001 aT Paaft ornate & an ia

cra cert ba Pere Paes err eteT otra Pret af eae oF aeT § gavieve Fae arar & :-

" et onen Paedrr warearait MiPea det afaPsan, 2001 {oat aFahen deariic, 2001}

goregta crear wa Peat at Paes err wry Porte 3 aa, 2001 ar pal aE cre ta Pew M RPaedtte eee Afoorraerfat & Pea & deat & Por,

afar A Re A ama B saa ah V adia wowed awada hte a fame ave Fret WR a sift fern sie: -

1 afer arr site urey Q) 38 after ai f et serearat (favre earsarsil #) fear eee afar 2001 wat sTeL

(2) ae acre apy am 2 afer wa aa det a sera waft +B, aa aa sa afer F (@) "were wect" @ ceed Ret Pr ued HR, 1954 (1954 mT 12) VY an Frogs fat

stan A 7;

(@) 'wert mfaand' 2 areri unr s a} snite gest afte az,

(8) 'fees 8 crenk ata aaarh asa da fea a 2;

(3) 'srr' Yana, aaa, arr a sa) or fae amet ea fara siftramt wfc ar geet fern seve ey Far ay wr For fafa tar eq FH fae Pe salty are Ur sr silent It are fare facia ear arr er Sat aifeer an fart apart eg aA eReayht mre Ba Ste Raa gubict ae ol Alar sey Basta vier =a Rt ~ :

()

(*) @)

()

(5)

See yet Seo Far ago va or eva H aad Fa A aa ant Fea F sqER fe ae Tea A via at aa anata vite sik faaaa ats afear 1992 (1992 a 15) & ania entra wasat ong. (Mat) are Re ag aniféait site ware ag faraat & oni anPiet ag -va, ae va or Ret wey wea wT FH Gere we yst

fat ot Baer err Yo Hwa H gers at TE TAT; fat squats dar ar awcnet dae Sar serene fara afer, 1949 (1949 mT 10) HT unt Ss # as (a) 3 apn after Fa oa APRier are Bes aie; frafattad @ wer arg af ft mfrea vet et sida siteifires ear aay,

fert asa fra Fer;

anda ater fae dar aftiaa, 1964 (1964 wT

18) A arr 6 w A a sat anit fata alg facta eM;

ang oer den at aan arr ga Afra fafaece at mE Ra:

feafakae & aer arar a wet Ur

() aferyfer afar;

(a) fast afr;

(a) saat oT;

(a) He a tarsit B ons AA ae afte ee FY are,

(6) ut sur a a dale feet F cere ga fret afuheer & aie voila fat cafes a fait at ar frat a valet @ vit Praia Ren at 2, aret uta;

(7) fat fae B dates F ater aH eT H ares alg usr; easciaaen | — 'fae' ar aét orf hn Gt usta Usa Us aa Ret a any at are sere fae ws after 1961 (AeRT afefar i961 at 24) at RT 2 Bas (2) ¥ eae sel fear art 21

eriern 2— fart weafe (ae wet ar staat Bt) aT aaa a fader arr dar wt RA wa et BRE a ga as F valor & fare war afar ae) ArT GEA

(3) 'faféee sya' a aed at 10 H anit afSa fee varaa a 2;

(a) 'fata earn' & creed feat ate at ert BF eq a feat aq ade a oar eier wet are feat afar a cafaaat ase 8 3 afer Sa Us AAR AT Hs MR

cay adh aia asa eae aT STAT aT Sae weT Prafas HE fat a asad Seed ar dara faery afer, 1949 (1949 wr 10) A arts Beas ow H aaraeonf erat

afta weet anita aa Shi;

egreene" Bare TST TAUEN aa Ret aa a 2; cgqasana" & wer wart B HPS 239 HF HH zag ete career, oh sar ag ae arya w ieraaray Iz

Ser a are wear sans, ava, ar a feet wate até afar 23H wae Jae aA 8 at eT SH e ae

3 fra dar ar sueanet Gas are fear en @ sa Var sy arena val 2a, a wen aalea, ae ta facia genat So vaer & fae freer a sad alan a rd ara A aa S fae AER warts (shizz) BER, Asfafe aa aw WW wears areas at ga a ato: at an A aah, aftes rar went wen aR AAT, vit wa ae aaa A ada, cera sre

ae Bat Aer

area at gitar sft Sars waver 2 Vi way a wT Ta ag aaa 2 ar Bah wa aT oT H wT A sieht oT Teva 2a 8a ae at afte ar got a aie Sar WE TT, sat a ot ot afr a

Afea snared & froia F faar ait vata GR cot

Aue ah arrart safir wae Bae aH ABT VAT ike fa cafes cit at afer 20 Ba S aA AAT BHA site VA

4. war ar vane + 2a A aa (1) aot wy dafaal at aqait fda enc & free 1 ara ead 8 wa el Sh waie— ga ut F yar w fag a fade war, vit aay fay ae ER sae, SA, AT HST 4 wae alee ar feet ora ee 4 aftr afsa Bt en at amdt ¥ gen aeat 2 at sa wer & fey fate Jar ar aad 2h tar aa gare eet or feet casa at aot ant a frat aise ot dtoget at agart S eae Soe & fag cen eta fafafece Gar vert aet weet ar Bit orn eaten ad wr fare ay sreraerh ar cartier gfe a aeaert aaet S arr wal 2 a 2, Sa aT a afta en a sifaat @ sa var a Gora ae | HM, fra Sa HaHa WER sa aye Het A smahifes wher 2, ae aed 2 das aaegda yer AMT oe a fafaféee dar a 2 aat AT ae

aan a feet & fet wera aa A sage at ay Satire 4 eaten a on fires grea BA uz, fBrearra at aroun 3 9 ofeafaa aaeqde de at ore car aaa 2, sage art RAE cen Brera aearsita ure 5 @ aetna Pasa wert sft at Aa

area ge faa sear faf ¥ A ag feat A aa aH ATA -

wet waraciat @ ger firaraat # sree we ar sera WAR ss ara a qs a fe als feta erat fama wt a

(&) auaae Bet Bare at carat arr wT eT ae OAT are Het

(a) SIs or oes ara aT 2H, aT (ar) at ore Baar FH oer Rae aE seyAR Vat werT Ht H same Tah

wel war Fe ae Beare wet ar oar Bt far alg face eager seals a akan Fy aH gTe a werevatait H fear at saat VEIT art aH A HPT He TE 2 gH aR ga ATT a dae 8 fee Cat fate eager GAT SHY a aT Saar CAT TAT ar SISA aA ST aT AST Bane ar ae Bare yerT wet ae wet fred fre serearat @ wer area at ag A at ward fate ermisit F wrist F fa HP ser | fay fattaa ¥ ane eof at A are as aft at sea rahe at fran fare ae fasara a ae Oat fata eat art att arr a can fart ora cafes Barr a ga fetta erga ger wer at TE sera afta at ad #, pat at an Tarra F arta wenifirea HT waa, a

cafe a gar vel fer 8a aft a ea weafes al SB fore reer wat 2 or oer aftr at gata at H fey water wet 2 at sat fade earar at aer tat wars ar gag fete era # verier, esar aaler at yaten ar aera A Pot aeafe tar wan saa aa, al |e ae Ta

(3) gaunt (2) a anit area venfira ey x faeta eareat ait Set srafaa alee Al eats sik aRaeafeei, faféce area are gare sear BY aH aA are gar

warm wired & Paar H wait aca unt 4 at sourt (2) & anit ante oe aa ary oy fara BA siftreand at, at wae a! ay ferent Ste aaa Ste aw at eh, um 4 eS

ania aR BRI has at ag eral sie weather Paar ae & fae we wftrent & ea A Ages wet wary pita, afta sneer By vena at cite S 45 fea S se we or after wows dest a HET HOT ait set ae sa aroit ar Seka Hea ray HU ara 3 ont 4 # anit ares wae fear siz fas seer Row ae fava art at are? fe ear a at wate wrarcial A urea ver a sifeler at ag Bake ST anfaaal Beak San fers arr ae ae wear Peas at Te a afta atag aurea & aie or ser waa fate rare BRI srasranaT TST OK sre seat ae aah al ae

aery unftranrat oft fenet fate varrera ar Pfece marae aT ft afaar & ate fade era at eae at

aeufe ar afaafeal a daltra rt qed or fasr ae aftr Boia 2a a fare fat ora aor wear oT fat ga THT aan grr waft a isa a mies ed fet sey

nates Ha at sider aon wel ga ofan a ear YS an ae & fae aaa arte ott aet & fay

fafée =aarea wal 2 ar fet ercar at ar fat eae at aa ar wats or ueateat a vec eT a se

(7)

zara at usaf or aah or oResateet a aaer ¥ apnfeafa até ffs =a or ats eues wel fet wet #1

ar 5 at sae (1) at APM ara we ANS afta WATT srt far wert wien ga afar a vats F fore falas rel atm: -

fafaa A see wet eA we wert wilt Oh aren ata aon at ae ware frie era at ait emafra, wate ait anftaat at serie areata FY set cat FAA A graven or aha a a were walter @ aa ta wit wat eet wt gaa var & fae raga B: -

ya sua #t sremt Ws (1) B anit vert At ae cafaaat ait aprser oe wfsaget ware wre far wert Tle mat

Prat yferr sffrant ar fare otra @ as werzat AF ear Baan Sh sie VA Berea wT ae Ofer sefBeRT aT ay 8S wand or cafes cr ae afaca eh fe ae se rasa Berra 21

frat seqafaa afters dey FH vara alert ake rt erat, at sat en aary sit day Garay Bey wT Se eer gore Bir ea ae aes rae See A we a aaa ae atarg az TT BI

frat at ¥ as fasaa a fe sah wat Fa saa

(@) (s) faa ¥ sa fade cava at ag ut afer, wae aT suftrat 2 Sa8 serene we aT Ba snFea HT were wired at dias ar eevee Bl ge Se aaT st aa tary fae BA ai HL BT HEAT SAT! fairs Qacere a aes varsete a ae sre aft fagaa ae ar oenere orm fara Vary Ga fae eT a staat at aed FAA sik cae HEA S fore Hawa a

sa fasta career at or sad Prefaor H feet fart are uff ar wears fers at ar, Wet HA, saa ae, Yoira we ar sere aang Het aT ew BATT sa fate earcar A ar sat Pear F ag wet aT aTaeT een a arden Aart arr ar fee career a qatar & Pet caer arr at, setts He aT waren aes Het SI Sa SPT

Aaa aaa at svat wey av, BA A wert uelfrenret shia aa, adatre Aearh err Far Gre

faféce rare grr afta area @ aqan aay anit t

START HY HT SHA BM

2a wh ari ak Gea aA an BHaN Bh wt Ge facia sania at aftaat at gee aye fare sae weet iia)

qactteaor— sa unt B valor fare feaetta cara' wer H anfra eugar ah fear, vacten vals a weer oT ag ort Var

(3)

cane wa a FA TE TAH eT TET eee we Aiea wat Be AP SH aA PAT TTF

art wea fag oT ah! geet 2 ater Se ar ww AT ae HT HET

2p ame ace Fran aver fap af a ae Fee ee aa ata & yn HEM aT gat y ward at STS Wer front a A Sot STAT A ST ava wT VS a AT ren Fenn eer fhe a a res aE seat STH

geaya aren a AA a een ea H Seen Sa

hr ta Fr ae Sar ot adhe eH MAA A ST

ay ced afer ar ea any ste ge Tea Hae A fever caer fap aE eR aor aor Te n wR A eT AAT

ifsendt at aa Ren Gar at ee lta eat Se

fans aor Aer Prefs at otk ae paTHT HINES

warm onftrane gre f at fifée

@ aa F

ant 7 & on Rae HA SH are Ber wa, ayer at Ws afr ¥ serarcisit a aprart at a sepa airs ey Pafese wares al aaer ao) tar ater aed aaa wart wierd warrcist at & wt art ah om sik ser Baars i T

Rute at sik afe age at wg ar age A SPY art aft aaa a et & fay vals set # cerca ar TAT AST @ fae see wid ae Aer aeiae at Ret ate ike fie artes F seat S ser ute ar aaaet oT

(1) Affe =a & oe ga afar A aaah at any at at eet afeaat een

(2) sour (1) ait arrea erat a ang gfeage were sre FAT fafése saan

(a) wert wrt at ard ter Fea 2 ana 2 Ger ae ga site & saul at aware any ast # fae Saat ath

(@) 3a fata ered at tas ar faa aaant a oat ufsay ar faa srpifta ae aha sa faite cara at sieat or ae Raker ae aaa sit sTNtsi siz Saat Baenait a TA a sifeer wr 2 wee

(1) er frei eonen a ar sere Fretaoneir Fae anfierit a rad Fat a fry otk at eafeat at ardaiar Aart art ar snfeaal a ease wal Raed By wrgae fees art ary, Safte et or sae HET aa SH faa seer a tas aT

10.

Hae Her ar ee wary wilerenrd ate wa sa facta zara at anferat at creat FY A sie geet wet aan wifi art fey We ara aT at apis ae waa

"mere Une BRT HATTA Ht TET Hey aT seaT e aerar 2 ar afe ayer ah Ufa Ue eA Berar AY AT HLA ay fay vai sat 2 at aarqaa F apart Hey ar state aaa

dar as anes Ua ae BENT 2 aA Aafsse aera sa fata eae a snfteat al aa Her aH fare sik Ge fata ercar S serancistl A wer at BAKA aT fay sfra ar saad waive fat age ar ae we Heat cnet Sfaa erat

eacctaer— sa ur water "faite earn" sez FH sar agar ar Prser, vader, van or weer ar a oer Rat aifea wit ahr frat acta ar sntaar ar 4 F anita ae ft ag

(1)

(2)

aa afar & wiser @ aan wera A afer F ant Ret sea sare Byer =a st wexfs a afta ¥ zen Poff 8 da ar Ast ar 8A arte ar amal & at & fee states fore ar tart wares aT far a fort wat See A va or aferen sara) aT Tor at Bat 21

fafoe sora @ stated feed ame fear sft

nn. aal @ way A fie sara ait aiferrat

()

1909 (1909 a 3) ai wale fearen afer 1920 (1920 a 5) @ seria enfte saree alee fret st aaa at ze aia B soa B senf HPt are armel & dau F afta aa ae erm

ae afore & soa F atest at are feet A arreal a daftre frat ft eres F alae art ga sear at unt 4 al sae (2) A dente ond afer at aka a A Mite saareal 4 siafta art writ URS @ sete swder Ht wifes we ae Pfs sara facta eae Far feet sma cafes ant, fora erate at al at oil a ait art 4 A seni aR ERT Wer ultra & ore fea wate Bb aaa A ater aa waa Tal ait aot fag ay areat, afe alg et, Bara Aiea aa ait, fre sea earcar sik sau aafaa ge Aiea W fafiidse cata al a gad ued ae era ANT wigan fas gat al A areal) al oiler eal a AT GTI afafie maar 8 et safesal al Ver afee i one arom frat va fata earn at wate 4 ara, feet feat al ea & fee sande fear at ar Her at Ara BY AT Ba ales at Aiea wre ata fort Goer (1) B sri alfea wet fear var et sa alee A at eae ant aie

3 Rie artes a tar AS re ah ata fie alk ofa asad fait an at aqell aet a Se aatg arafa Aad aa sur a ae aafe Het aw fay asa fee Saar aa sofa at sad fea wer F fea 21

(4)

(s)

12. gaat staid at wate at yet

(7)

sharia, Hrs: IA APIA AoA GH TES Hee

eae 67 BURT 4 Al STURT (2) & sini Gat F set

cigar akan groan ae at AT are aha HGS

APT TT

fannie ae seat Raa ata ar EATS sea eH TE

oT!

cq we fh Paffee vararerr BA faa f a 2 aa wT

exer aa at re ae ae oT eT aT AF

facia congen-ar sour (1) 3 afar a aa aftrene

cater cA # aed Be sea ae AT aoe oar a Ph EAT

oat fat pera raha sar aT Fee RT A aT EY BT GH OT

fade eave & serercistt ah phar F fre sratera i

wet gad Fad —gRa sea FH steieT Ter AH aT

ar esa da A ween are after BTR wa eragS ar aioe

a) afrane F AS @ fre trays HAA wraftae oTaeT

aga vee vat a AA Bat ore e e AA F

anita vega fara tat a sik W ate r Hae TAPIA

saider a REN out ao aaa VA afPaT SB See

any, fae aa

cet rer 4 30 afi Fae eer a ea afer oA a

13.

14.

aah @ aed ¥ vay ae at ae ants aT FIR

aaa an vata sem 2 fr saa Reta ere a ae site gfawet & fer weafe air cate rT area ae fear 2 (ae ga afte Boer ah Bare orate fear Bi) set fee saree bat rahe (ae Set ae wa saa fasta earn 3 Suh wear at 8 arvana) S arated a atta snd ah Aiea F Pfsee arts at gar wench 2 site spre aarait Fea aut ax ae @ fae eA fae safe St eeu an soe en sat a ast Par sie ait srafta wah Fo aps FH aera ah

(2) wet saa arafet Puffs fare at satter ait tate saat aro ene aah RAT B, STAT Tet aT 7 Ht sy-urt (5) ¥ fraifta far arqar vita He aH are fifie =r sa ara a wage a fe saa arafeat st get ar sae wena aan general aay fever wea at, aei fife srr saa seat at wah a ae AAT aah ay ar str 2 wad 2 at ae arafta waht Se sia yer Bh aat sear ware BT

i AE Mere a ales Preah wafer at za soe FS areata oat fran ora 2, fee aera F Rat ait S aac F fafa 23 Fs fae fatto wae odes ax eT eae TET fafice aera at wa ® ga ven @ wenlaer site wee vasa aetna cen vata weet set 2, get mare Eat Tet aa wae ae endl 2 sever wena Bat S smear aH ga HST a fea w aad 21 .

fafée snare ga afta & anit aerr uiferend a Eat at ag en fafea weafe 4 afr wart are aaet BH onder TT zeny wie at grad ar geen 2A ah ae Peafafad F

'a |

15.

16.

fas ate aafatores cafgat site srr Sweaty H fate wa 4 3 pda wt a eet

8 Rae ae afar atk Brat amat: -

(=) samt ofa a aya AE e r PARR woah A RT safer vere acer Freeh fare gue Ay RS fee ST ara

aca By, wt areaTa ar sak aR ae BET aT si

URI 3h guna Affe rar A sa d Pee sard aT

suvaren aor & fare Sat a a BG era fre

aafaa eT a anaes a

(@) sat aon araerd Br, BATS are THR SrA Ft

conven on war eer A steyge V A Rat at Prd

aa 4 Xn Pie BH Rete en vi at at FS

seer Haga oat a oat ce R eet Aa

aca ant Prffta afer 2 fear area

Afi sree & aa 3 ara

aE A cater, Foret were firth ier, sna BA

A FRR A 60 Ae

seq aurea H stir He BATT FI (Qa) fede: carers rarer a fare saf est at aE Fre FAT

reyes aot sare Smee @ sie aap rare Hera

arate fra & aatert a

ufpan alee 1973 (1974

18.

19.

20.

site, sr areal a sified wena 4 et We apitarg air avert weft Hey

at feat

fram wart ait ai 2) 4 fruifta ofear at sreqoret Rear are

(2) @3 afar afear 1973 (1974 wt 2) B soar aM we fife aaa aa vega aefanét a aT BAT aie Sas sera at vasrarh aie sere at afree

ST AAA SATA

3a after ¥ seen soataa at stsaz, ga afoot @ oral ar aera any ARN ser aT A ea sat sere fat ara & aa Ey aera Tah fae Sie ar yar oar feraa fara 08 feat are S ao ats wa Usa @), wr ga % Hs wre At VSM

RAR aya wer afte ar eet aan sift ar anata fase Oa feat art F fae ag ae a ar antarg al at wreat at ga sftitan a oni aera @ at we at a at wit a

BR MH warts Y HA Ha ah Mea 2 we 2 ae afar sit sae arr waht ah wy art weaat ar vat Sa aftant art fear at ant 2 faa gat fdr wal, ale aig 8, & ania fee rar orem

() ear ga afiar & waitsrared eit sear fart it art al

we we & fare vara # afi wt aeP Ree sar waa 21

(2) faa sy a aa feafefad afaaa a crear a

(4) wer wien ser ifgee car rer at afer HET AT afar

(3.) fae SoH abut carer A aaa

B BPPT ST

()

ah fae ween ar wafer B aR F Aer SF a e east

aA ada a wg weaker cen Saat fae weet ar alert

a utara HS Proafea far weeM fafiee array Bo ontar A wafer A oe wer

HTT

arr anita eer wet at afesa za afuhar & aaria at ae facia earns a rr

sare ay vane site seat ar ster, Wert n f Fe

qrefae Halal, aera war Tea cH ARAEre TATE 2 aan aitz Bra alee, nraraarer cre TeATATGTY AY TTT

KAT

ae ae ae ae a ofa

22.

afsargat & Prreae

(a) geet at cen art aihY eat a chat veer

(3)

(1)

a ofan & sete aR ant sary ae Vets as at dar Fart & gta are vihafesite ga ara faut Hose A wal SII wa a HHS HH 30 Pat A fre gern war @ foray var wa ar a aa orvar gad ofere wa A PTT at sik a wa aa a whiny eat at afta a Stew ea faa aor Fraa 4 alg dsiert act & fare wena By arat 2 saan fart WAT BRI ea at ae Bea Bt wt ze fay eer a 9 ara wig at Sah are Fra at waif 3a Hae A wal a seer, Sei oh feat BY, are area waft, gt sea @ fvar war ae Wale ar Prat aT vad Rar a anil gad geet fae ay feat deter ar Prat at dear a ag ufeeag wera aet weaT aft sa sfear @ sods at crated at FH ans afoag sort ahi 3 ot acan worms % genta sneer ant aa afetay Fava a sient ter as ard aet aul ot ga aoa a ax eet a fee snares valet a

weg oe fas Gar sear ga sferreer A any a ait arte a at at a salir vara a a a @ are At fared area

Be unr & oily Pear wear year sear Sa dar By aT Fare aturfasita faut wr Y war are ( a dap A> EPR

Srdoarzo nied

vat aPeapPara wet

ao aye

° x 0 MART ;

a oa 74s, wat aan

NN ag oT)

Delhi act 010 of 2001 : The DELHI PROTECTION OF INTERESTS OF DEPOSITORS (IN FINANCIAL ESTABLISHMENTS) ACT, 2001

We use cookies to improve your experience