AI Overview...
-
Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) - The Act aims to prohibit unregulated deposit schemes and regulate deposit-taking activities. Offenders under this Act can be prosecuted under various IPC sections such as 406 (criminal breach of trust), 420 (cheating), and sections 3, 5, 21, 23, 25(1) of the BUDS Act. It emphasizes strict penalties for unauthorized deposit schemes, especially when conducted without legal authority. K.R.SADASIVAN, Versus STATE OF KERALA, - Kerala, K.R.SADASIVAN, Versus STATE OF KERALA, - Kerala, DILEEP SHIKHAMONI vs STATE OF KERALA - Kerala, SMT S VARALAKSHMI Vs STATE OF KARNATAKA - Karnataka, SOPHYAMMA THOMAS, vs STATE OF KERALA, - Kerala
-
Anticipatory Bail in Deposit Scheme Cases - Courts have clarified that granting anticipatory bail does not impede police investigations. Section 41A of the Cr.P.C. mandates police to issue notices before arrest, ensuring procedural fairness. Bail applications are often rejected when allegations involve serious offences like cheating or breach of trust under IPC, especially when committed through unregulated deposit schemes. K.R.SADASIVAN, Versus STATE OF KERALA, - Kerala, ANOOP. M. S VS STATE OF KERALA - Kerala, SMT S VARALAKSHMI Vs STATE OF KARNATAKA - Karnataka
-
Legal Proceedings and Offences - Accusations against individuals or entities involve serious offences under IPC and the MPID Act, including Sections 406, 409, 420, and 120-B, indicating breach of trust, cheating, and criminal conspiracy. The absence of legal authority to collect deposits aggravates the offences. K.R.SADASIVAN, Versus STATE OF KERALA, - Kerala, INDKER00000127210, INDKER00000126658
-
Regulation and Enforcement - The enforcement of the BUDS Act involves prosecuting unregulated deposit schemes, with courts emphasizing the importance of legal compliance and the serious nature of financial frauds. Some arguments suggest that regulated schemes may not fall under BUDS, but unregulated schemes are subject to strict penalties. K.R.SADASIVAN, Versus STATE OF KERALA, - Kerala, SOPHYAMMA THOMAS, vs STATE OF KERALA, - Kerala
-
Additional Legal Contexts - Other laws, such as the Interest of Depositors Act and environmental regulations (Air Act, Green Tribunal), are also referenced, highlighting the broad legal framework governing deposit schemes and environmental compliance. SMT S VARALAKSHMI Vs STATE OF KARNATAKA - Karnataka, ADIL ANSARI VS M/S. C.L. GUPTA EXPORT LTD. - National Green Tribunal
Analysis and Conclusion: The Banning of Unregulated Deposit Schemes Act, 2019, provides a comprehensive legal framework to curb illegal deposit-taking activities, with stringent penalties under IPC and other statutes. Anticipatory bail is granted cautiously, ensuring investigations are not hampered while safeguarding individual rights. Legal proceedings focus on serious offences like cheating and breach of trust, emphasizing the need for strict compliance and enforcement to protect depositors and maintain financial discipline.
Search Results for "Section 22 Banning of Unregulated Deposit Schemes Act Hereinafter Anticipatory Bail"
2024 Supreme(Online)(KER) 30474 • India - High Court of Kerala
A. BADHARUDEEN, J
Bail - Anticipatory Bail - Sections 406, 420 IPC, Sections 3, 21(2), (3), 5, 23, 25(1) Banning of Unregulated Deposit Schemes ... , as well as under the Banning of Unregulated Deposit Schemes Act, 2019. ... of Unregulated Deposit Schemes Act, 2019. ... They also committed o....
2024 Supreme(Online)(KER) 28547 • India - High Court of Kerala
A. BADHARUDEEN, J
Banning of Unregulated Deposit Schemes Act - Cheating and Breach of Trust - Sections 406, 420 IPC - Sections 3, 5, 21, 23, 25 ... of Unregulated Deposit Schemes Act, 2019. ... of Unregulated Deposit Schemes Act, 2019. ... They also committed offences punishable under Sections Section 3 r/w 2....
2024 Supreme(Online)(KER) 55268 • India - High Court of Kerala
A. BADHARUDEEN, J
Banning of Unregulated Deposit Schemes Act , 2019 (hereinafter referred to as ‘BUDS Act’). IPC ’ for short hereinafter). They also committed offences punishable under Section 3 r/w 21(1)(2),(3) 10033, 10039 & 10056 of 2024 2024:KER:95049 -19- and Section 5 r/w 23 and 25(1) of the Section 483 of the Bharatiya Nagarik Suraksha Sanhita , 2023 ( BNSS for short hereinafter). 2. ... T....
• India - High Court of Karnataka
Unregulated Deposit Schemes Act 2019 and Section 120B and 420 read with Section 34 of Indian Penal Code. ... OF INTEREST OF DEPOSITORS IN FINANCIAL ESTABLISHMENTS ACT AND SECTION 21 AND 22 OF BANNING OF UNREGULATED DEPOSIT SCHEMES ACT. ... punishable under Section 9 of the Karnataka Protection of Intere....
2025 0 Supreme(Bom) 1065 • India - IN THE HIGH COURT OF JUDICATURE AT BOMBAY
AMIT BORKAR
of Interest of Depositors (in Financial Establishments) Act, 1999 - Bail application - Allegations of accepting public deposits ... (A) Code of Criminal Procedure, 1973 - Section 439 - Indian Penal Code, 1860 - Sections 406, 409, 420, and 120-B - Maharashtra Protection ... ... ... Result: Bail application rejected. ... of Interest of Depositors (in Financial Establishments) Act, 1999 (hereinafter “MPID Act”). ... Such unauthorised....
2017 0 Supreme(Ker) 18 • India - Kerala
be in charge of the prosecution, for an order of anticipatory bail does not in any way, directly or indirectly, take away from the police their right to investigate into the charges made or to be made against the person released on bail. ... The newly added Section 41A of the Code makes it compulsory for the police to issue a notice to an accused where arrest does not have to be made under clause (b) of sub-Section (1) of the amended Section 41 of Cr.P.C. ... State of Uttar Pradesh, (2....
• India - High Court of Kerala
It is also his argument that the Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) has no application because it is a regulated deposit scheme, and Sections 3 and 5 will apply only if it is an unregulated scheme and in the absence of a contention that the scheme in question is an unregulated ... scheme, Section 3, 5 ....
2025 Supreme(Online)(Bom) 6129 • India - Bombay High Court
(hereinafter “MPID Act”). ... The offences alleged against the present Applicant are punishable under Sections 406, 409, and 420 read with Section 120-B of the Indian Penal Code, 1860 (hereinafter “IPC”) as also under Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 ... This becomes even more serious here because it is not disputed that the applicant’s company had no legal authority under Secti....
2025 Supreme(Online)(Bom) 5930 • India - High Court of Bombay
HON'BLE SHRI JUSTICE AMIT BORKAR
(hereinafter “MPID Act”). ... The offences alleged against the present Applicant are punishable under Sections 406, 409, and 420 read with Section 120-B of the Indian Penal Code, 1860 (hereinafter “IPC”) as also under Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 ... This becomes even more serious here because it is not disputed that the applicant’s company had no legal authority under Secti....
• India - National Green Tribunal NEW DELHI (PRINCIPAL BENCH)
Mr. Justice Adarsh Kumar Goel
Mr. Justice Sudhir Agarwal
Mr. Justice Brijesh Sethi
Dr. A. Senthil Vel
Dr. Afroz Ahmad
This was violation of the consent issued for use of the boiler under Section 21/22 of Air Act 1981. ... This Original Application (hereinafter referred to as ‘OA’) has been filed under Section 14 and 15 (b) (c) read with Section 18 (1) (2) of National Green Tribunal Act, 2010 schemes and programmes.” ... 21/22 of Air (Prevention and Control of Pollution) Act, 1981 (hereinafter refer....
Filter by Legal Phrase
