Chhattisgarh Protection of Depositors Interest Act, 2005

{
    "id": 16016,
    "slug": "chhattisgarh-protection-of-depositors-interest-act-2005",
    "title": "Chhattisgarh Protection of Depositors Interest Act, 2005",
    "short_title": "Chhattisgarh Protection of Depositors Interest Act, 2005",
    "act_number": "(Act No. 24 of 2015)",
    "act_year": 2005,
    "act_type": "STATE",
    "location": "Chhattisgarh",
    "law_status": "unknown",
    "enactment_date": null,
    "description": "Chhattisgarh Protection of Depositors Interest Act, 2005",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "1. Short title and commencement.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "2",
            "title": "2. Definitions.",
            "chapter": null,
            "content": "(a) \"Chief Justice\" means Chief Justice of the High Court of Chhattisgarh;\n(b) \"State\" means State of Chhattisgarh;\n(c) \"State Government\" means State Government of Chhattisgarh;\n(d) \"Competent Authority\" means the authority appointed under Section 5 of the Act;\n(e) \"Deposit\" means \"deposit\" as defined in Section 45-1 (bb) of Reserve Bank of India Act, 1934 (No. 2 of 1934);\n(f) \"Depositor\" means person who makes deposit with company; and includes heir, legal representative, administrator or assignee of the depositor;\n(g) \"District Magistrate\" means person appointed as district magistrate under Section 20 of The Code of Criminal Procedure, 1973 (No. 2 of 1974);\n(h) \"Financial establishment\" means an individual, an association of individuals, firm or company incorporated under the Companies Act, 1956 (1 of 1956) receiving deposits under any scheme or arrangement or in any other manner but does not include, Corporation or Co-operative Society owned or controlled by the State Government or the Central Government, or Banking Company as defined under Section 5 of the Banking Regulation Act, 1949 (No. 10 of 1949);\n(i) \"Fraudulent default\" means any financial establishment, which fraudulently defaults any repayment of deposits on maturity and/or any benefit in the form of interest, bonus, profit or dues in any other form as promised or on maturity or fraudulently fails to render services as assured against the deposit;\n(j) \"Special Court\" means the special court constituted under Section 4 of the Act.",
            "footnote": "",
            "is_definition": true,
            "sort_order": 1
        },
        {
            "number": "3",
            "title": "3. Act not in derogation of any law.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 2
        },
        {
            "number": "4",
            "title": "4. Special Court.",
            "chapter": null,
            "content": "(ii) A person shall not be qualified to act as judge in special court unless he is a session's judge or additional session's judge under Code of the Criminal Procedure, 1973 (No. 2 of 1974).",
            "footnote": "",
            "is_definition": false,
            "sort_order": 3
        },
        {
            "number": "5",
            "title": "5. Competent authority.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 4
        },
        {
            "number": "6",
            "title": "6. Intimation of business.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 5
        },
        {
            "number": "7",
            "title": "7. Attachment of properties on default of return of deposits and power of special court regarding attachment.",
            "chapter": null,
            "content": "(i) Upon complaints received from depositors or otherwise, that any financial establishment has fraudulently defaulted.\n(ii) That any financial establishment is acting in a calculated manner with an intention to defraud the depositors and such financial establishment is not likely to return the deposits, the competent authority may, in order to protect the interest of the depositors of such financial establishment, pass an ad-interim order attaching the money or other property alleged to have been procured either in the name of the financial establishment or in the name of any other person or establishment, or if it appears that such money or other property is not available for attachment or not sufficient for repayment of the deposits, such other property of the said financial establishment or the promoter, partner, director, manager or member of the said financial establishment, as the competent authority may think fit and publish the order in local newspaper of the area.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 6
        },
        {
            "number": "8",
            "title": "8. Attachment of property of mala fide transferees.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 7
        },
        {
            "number": "9",
            "title": "9. Security in lieu of attachment.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 8
        },
        {
            "number": "10",
            "title": "10. Punishment for defaults by financial establishment.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 9
        },
        {
            "number": "11",
            "title": "11. Factors to be considered for imposing fine.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 10
        },
        {
            "number": "12",
            "title": "12. Awarding of compensation.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 11
        },
        {
            "number": "13",
            "title": "13. Procedure and powers of Special Court regarding offences.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 12
        },
        {
            "number": "14",
            "title": "14. Special Public Prosecutor.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 13
        },
        {
            "number": "15",
            "title": "15. Anticipatory bail not to be granted.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 14
        },
        {
            "number": "16",
            "title": "16. Appeal.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 15
        },
        {
            "number": "17",
            "title": "17. Power to make rules.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 16
        },
        {
            "number": "18",
            "title": "18. Protection of action taken in good faith.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 17
        },
        {
            "number": "19",
            "title": "19. Power to remove difficulty.",
            "chapter": null,
            "content": "",
            "footnote": "",
            "is_definition": false,
            "sort_order": 18
        }
    ],
    "metadata": {
        "Act ID": "Last Updated 19th October, 2019 [cg242]",
        "Act Number": "(Act No. 24 of 2015)",
        "Enactment Date": "",
        "Act Year": "2005",
        "Short Title": "Chhattisgarh Protection of Depositors Interest Act, 2005",
        "Type": "STATE",
        "Location": "Chhattisgarh"
    },
    "updated_at": "2026-09-29 21:55:19"
}