The Delhi Protection of Interests of Depositors (in Financial Establishments) Act, 2001
The Delhi Protection of Interests of Depositors (in Financial Establishments) Act, 2001
General200121 sections
This law protects people who put money into financial businesses in Delhi by setting up a special court and authority to handle disputes. It applies to individuals, firms, and groups that accept deposits from the public, excluding banks and government-owned companies. The Act defines what counts as a deposit and provides a legal process to recover funds if a financial establishment fails to return the money or violates the rules. By creating a dedicated system for resolving these issues, the law helps prevent fraud and ensures that depositors can get their money back without facing complex legal hurdles.
- 0. Preamble
- 2. Definitions.
- 3. Fraudulent default by Financial Establishment.
- 4. Attachment of properties on default of return of deposits.
- 5. Appointment of Competent Authority.
- 6. Duties and power of the Competent Authority
- 8. Report by the Competent Authority
- 11. Powers of Designated Court regarding attachment
- 12. Attachment of property of mala fide transferees.
- 13. Security in lieu of attachment.
- 14. Administration of property attached.
- 15. Appeal
- 16. Special Public Prosecutor.
- 17. Procedure and powers of Designated Court regarding offences
- 18. Act to override other laws.
- 19. Protection of action taken in good faith
- 20. Power to delegate.
- 21. Power to make rules.
- 22. Power to remove difficulties.
- I. P.
- II. Explanation
PDF: pending for this language.