Vidhi Codex

Bare Act

The MP Nikshepkon Ke Hiton Ka Sanrakshan Adhiniyam, 2000

Environmental200014 sections

This Madhya Pradesh law protects people who deposit money or valuables with financial firms. It applies to any company or firm that collects deposits from the public, excluding banks and government bodies. The Act requires these firms to report their activities to the state government and imposes severe penalties, including up to six years in prison and heavy fines, if they fail to repay deposits or provide promised services. It aims to safeguard the interests of depositors and ensure financial stability in the state.

Start reading →Read full ActSections
  1. 0. Preamble
  2. 1. Short title and commencement
  3. 2. Definitions
  4. 3. Intimation of business
  5. 6. Punishment for defaults by financial establishment
  6. 8. Power of Special Court regarding attachment
  7. 9. Attachment of property of malafide transferees
  8. 10. Security in lieu of attachment
  9. 11. Appeal
  10. 12. Special Public Prosecutor
  11. 13. Procedure and powers of Special Court regarding offences
  12. 14. Anticipatory bail not to be granted
  13. 15. Power to make rules
  14. 16. Protection of action taken in good faith

PDF: pending for this language.