Definitions.

In this Act, unless the context otherwise requires,— (a) “competent authority” means the authority appointed under section 5; (b) “deposit” includes and shall be deemed always to have included any receipt of money or acceptance of any valuable commodity by any financial establishment to be returned after a specified period or otherwise, either in cash or in kind or in the form of a specified service with or without any benefit in the form of interest, bonus, profit or in any other form, but does not include— (i) an amount raised by way of share capital or by way of debenture, bond or any other instrument covered under the guidelines issued and regulations made under the Securities and Exchange Board of India Act, 1992 (Central Act 15 of 1992); (ii) an amount contributed as capital by partners of a firm; (iii) an amount received from a Scheduled bank or a cooperative bank or any other banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (Central Act 10 of 1949); (iv) any amount received from— (I) the Industrial Development Bank of India; (II) a State Financial Corporation; (III) any financial institution specified in section 4A of the Companies Act, 1956 (Central Act 1 of 1956); or (IV) any other institution that may be specified by Government in this behalf; (v) amounts received in the ordinary course of business by way of– (I) security deposit; (II) dealership deposit; (III) earnest money; or (IV) advance against order for goods or services; (vi) any amount received from an individual or a firm or an association of individuals not being a body corporate, registered under any enactment relating to money lending for the time being in force in the State; (vii) any amount received by way of subscriptions in respect of a Chit. Explanation.– For the purpose of this clause, “Chit” shall have the same meaning as assigned to it under clause (b) of section 2 of the Chit Funds Act, 1982 (Central Act 40 of 1982); and (viii) any credit given by a seller to a buyer on the sale of any property (whether movable or immovable); (c) “designated court” means the court constituted under section 9; (d) “financial establishment” means an individual, an association of individuals, a firm or a company registered under the Companies Act, 1956 (Central Act 1 of 1956) or limited liability partnership registered under the Limited Liability Partnership Act, 2008 (Central Act 6 of 2009) accepting deposit under any scheme or arrangement or in any other manner but does not include a corporation or a cooperative society owned or controlled by any State Government or the Central Government or a banking company as defined under clause (c) of section 5 of the Banking Regulation Act, 1949 (Central Act 10 of 1949); (e) “Government” means the Government of the State of Haryana in the Administrative Department.