Definitions

In this Act, unless the context otherwise requires,—

1. (a) “Competent Authority” means the Authority appointed under section 4;
2. (b) “Deposit” means the deposit of money either in one lump sum or by installments made with the Financial Establishment for a fixed period for interest or for return in any kind or for any service;
3. (c) “Designated Court” means the Designated Court constituted under section 8;
4. (d) “Financial Establishment” means an individual or an

association of individuals, a firm or a Company registered

under the Companies Act, 1956 carrying on the business of receiving deposits 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 a banking company as defined under clause

1. (c) of section 5 of the Banking Regulation Act, 1949;
2. (e) “Government” means the Government of Odisha; and
3. (f) “prescribed” means prescribed by rules made under this Act.