Uttarakhand Uttaranchal Protection of Interests of Depositors (In Financial Establishments) Rules, 2015

(1) These rules may be called the Uttarakhand Protection of Interests of Depositors (In Financial Establishments) Rules, 2015. (2) It shall come into force at once.

In these rules, unless the context otherwise requires,-- (a) "Act" means Uttarakhand Protection of Interests of Depositors (In Financial Establishment) Act, 2005; (b) "Competent authority" means the Officer appointed as the SDM by the Government under sub-section(1) of section 5of the Act; (c) "Collector" means the chief in-charge of administration of a any district revenue officer; (d) "Commissioner" means the chief in-charge of administration of revenue officer in any divisions; (e) "Government" means the State Government of Uttarakhand; (f) "persons" included any company or community or person bodies whether corporate or not; (g) "word and expressions" used herein and not defined but defined in the Uttarakhand Protection of Interests of Depositors (In Financial Establishment) Act, 2005, shall have the meaning respectively assigned to them in that Act;

(1) An order attaching the money and other property of a Financial Establishment to be issue by the Government, under section 4 of the Act shall be issued by an officer not below the rank of a Secretary to Government in Revenue Department. (2) The SDM may, on issue of the order under sub-rule (1), seek the necessary assistance of police officer or any officer of the Government for the purpose of taking possession of the property in respect of which has the attachment order has been made and on such requisition, it shall be the duty of such officer to render the necessary assistance to the SDM.

(1) Upon the publication of the order of attachment of money or other property by Government Officer under sub-rule (1) of rule 3 such officer shall, immediately forward copies of all the relevant papers and report relating to such attachment order to the SDM. (2) The SDM may examine the complainant and witnesses, if any, and such examination proceedings shall be recorded in writing. (3) The SDM shall have power to examine any person or office bearer or employees of the Financial Establishment who, in his opinion, will be able to give any information about the Financial Establishment in respect of which the attachment order has been issued by the Government.

Upon the publication of the attachment order by the Government and, on the receipt of relevant papers and record from the Government the SDM shall immediately prepare a register, giving detailed account or description of all the monies and properties attached and vested in him under sub-section (2) of section 4 of the Act, and shall, as far as may be practicable, administer the said monies and properties in the best interest of the Depositors and the Financial Establishment, as he deems fit.

(1) The SDM shall have power to call for or require any information about the Financial Establishment or its office bearers including the promoter, director, partner or manager or members of such Financial Establishment or, to direct any officer or authority of the Government or a local authority or any other person, to furnish such information as may be required, and such Financial Establishment or its office bearer or promoter, director, partner or manager or members of such Financial Establishment or any officer or authority of the Government or local authority or any other person, shall forthwith furnish such information to the SDM. (2) An officer incharge of the police station, when required by the SDM, shall take all steps, including inquiry, investigation or survey in respect of any person, place, property, documents, books of account, etc., of the Financial Establishment or promoter, director, manager, officers, servants or members of such Financial Establishment.

Where the SDM is satisfied or has reason to believe that a person in respect of whom an action is contemplated under the Act, has absconded or is likely to abscond or is concealing himself, the SDM shall immediately make such report in writing to the Designated Court.

(1) Where any property attached under sub-section (1) of section 4 of the Act and vested in the SDM under sub-section (2) of the said section 4, is subject to speedy and natural decay or if it is otherwise expedient so to do, the SDM may, after obtaining permission of the Designated Court, sell or otherwise dispose of the said property and include the proceeds in the account of the Financial Establishment. (2) The SDM shall, after disposing of the said property under sub-rule (1) report the same to the Designated Court.

(1) All money or property, attached by the Government and vested in the SDM under sub-section (2) of sections 4 of the Act shall be sealed by the SDM and shall be in the custody of the SDM. (2) The SDM shall maintain the record of all the income received from the expenditure incurred for, the property received, managed and disposed, and furnished the same to the designated court, from time to time.

The SDM shall render such assistance to the Special Public Prosecutor in conducting the cases in the Designated Court as may be required.