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Section 4 - Banning of Unregulated Deposit Schemes Act, 2019

4. Fraudulent default in Regulated Deposit Schemes.-

No deposit taker, while accepting deposits pursuant to a Regulated Deposit Scheme, shall commit any fraudulent default in the repayment or return of deposit on maturity or in rendering any specified service promised against such deposit.

Related Sections

Section 34: Act to have overriding effect
Section 10: Information of business by deposit taker
Section 22: Punishment for contravention of section 4
Section 35: SApplication of other laws not barred
Section 41: Act not to apply certain deposits

Related Acts

Punjab Municipal Corporation Law (Extension to Chandigarh) Amendment Act, 2017
Tribunals Reforms Act, 2021
Coal Mines (Special Provisions) Act, 2015
Commercial Courts Act, 2015
National Forensic Sciences University Act, 2020

* Only for reference.