Finance : MCA has vide its notification dated 21st February, 2019 notified an ordinance for banning the Unregulated Deposit Scheme with imme...
Finance : In light of various Ponzi/ chit fund schemes, the President of India promulgated the Banning of Unregulated Deposit Schemes Ordina...
Finance : President of India has promulgated the BANNING OF UNREGULATED DEPOSIT SCHEMES ORDINANCE, 2019 w.e.f. February 21, 2019. This law h...
Finance : Objective: Banning of Unregulated Deposit Scheme Ordinance, 2019 is promulgated with the objective of providing mechanism to ban u...
Finance : THE BANNING OF UNREGULATED DEPOSITS SCHEME ORDINANCE 2019 Introduction: The Banning of Unregulated Deposit Schemes Bill, 2...
Income Tax : And the day has come when the risk to remain tight in a BUDS has become more painful……. Banning of Unregulated Deposit...
Corporate Law : President of India on the 21st February, 2019 has promulgated the following four Ordinances, namely:––1. The Muslim Women (Pro...
Income Tax : Cabinet approves Promulgation of the Banning of Unregulated Deposit Schemes Ordinance, 2019 The Union Cabinet chaired by Prime Min...
Income Tax : Union Cabinet has given its approval to move official amendments to Banning of Unregulated Deposit Schemes Bill, 2018, pursuant to...
Corporate Law : Non-banking entities are allowed to raise deposits from the public under the provisions of various statutes enacted by the Central...
Income Tax : THE BANNING OF UNREGULATED DEPOSIT SCHEMES ACT, 2019- NO. 21 OF 2019- An Act to provide for a comprehensive mechanism to ban the u...
Finance : (1) This Ordinance may be called the Banning of Unregulated Deposit Schemes Ordinance, 2019. (2) It extends to the whole of India ...
The Govt passed the Banning of Unregulated Deposit Schemes Ordinance, 2019 on 21st Feb, 2019 to ban unregulated deposits. Article explains Who are Depositor and deposit taker, Banning of Unregulated Deposit schemes (UDS), What is Unregulated Deposit Scheme(UDC) and Regulated Deposit Scheme(RDS), What kind of deposits are considered under the Banning of Unregulated Deposit Schemes […]
Through this article, an attempt has been made to understand the implication of Banning of Unregulated Deposit Schemes Ordinance, 2019. For the sake of better understanding, the author has divided the article into four parts comprising of the definition, the substantive law and the sanctions imposed.
Whether Banning of Unregulated Deposit Schemes Ordinance, 2019 also applicable to deposits, unsecured loans etc. accepted / taken for normal trading, manufacturing etc. activities or for personal needs.
Banning of Unregulated Deposit Ordinance,2019, exempts Individual, Firm, Companies & LLP etc. for taking any loan and deposit for their course of business as per section 2(4) e,f ,l and other provisions. For the purpose of Banning of Unregulated Deposit Schemes Ordinance, 2019 “deposit” means an amount of money received by way of an advance or […]
The President has assented The Banning of Unregulated Deposit Schemes Bill, 2019, which was passed on the 13th day of February, 2019 in the House of the People; The purpose of Banning of Unregulated Deposit Schemes Ordinance, 2019 is to provide for a comprehensive mechanism to ban the unregulated deposit schemes and to protect the interest […]
, Unregulated Deposits Scheme Ordinance is an Ordinance to ban unregulated deposits as well as to protect the interest of Depositors. This ordinance was introduced on 21-Feb-2019. Everyone needs to study this ordinance of deposit and protect himself rather than believing on fake news.
Introduction: – 1. On 21.02.2019, Govt. Of India has brought Banning of Unregulated Deposit Schemes Ordinance 2019 with following objectives: – a) For banning of unregulated deposits schemes; b) To protect the interest of depositors; and c) Other matters relating to or connected to the above two objectives 2. The Banning of Unregulated Deposit Schemes […]
Government has issued The Banning of Unregulated Deposit Schemes Ordinance 2019 on 21.02.2019. Pursuant to this ordinance now any Individual or group of individuals can’t take any deposit or loan from any person other than relatives and Partnership firm can take deposit or loan from relatives of partner or partners only.
(1) This Ordinance may be called the Banning of Unregulated Deposit Schemes Ordinance, 2019. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall come into force at once.
President of India on the 21st February, 2019 has promulgated the following four Ordinances, namely:––1. The Muslim Women (Protection of Rights on Marriage) Second Ordinance, 2019 (Ord. 4 of 2019). 2. The Indian Medical Council (Amendment) Second Ordinance, 2019 (Ord. 5 of 2019). 3. The Companies (Amendment) Second Ordinance, 2019 (Ord. 6 of 2019). 4. The Banning of Unregulated Deposit Schemes Ordinance, 2019 (Ord. 7 of 2019).
