The NBFC Act 2002 & Rules 2004
Bihar · state statute
Open in Lexace · Ask the AI about this actfuca/ku laŒ ihŒVhŒ&40
laŒ ,yŒthŒ 1&0812002&yst&257&fcgkj fo/kku eaMy }kjk ;Fkkikfjr fuEufyf[kr vf/kfu;e ftlij jkT;iky 4 flrEcj 2002 dks vuqefr ns pqds gSa] blds }kjk loZlk/kkj.k dh lwpuk ds fy, izdkf”kr fd;k tkrk gSA
5
fuca/ku laŒ ihŒVhŒ&40
laŒ ,yŒthŒ 1&0812002&yst&257&fcgkj fjr fuEufyf[kr vf/kfu;e ftlij jkT;iky 4 flrEcj 2002 dks vuqefr ns pqds gSa] blds }kjk loZlk/kkj.k dh
2
fcgkj tekdÙkkZvksa ds fgrksa dk laj{k.k ¼foÙkh; LFkkiukvksa esa½
vf/kfu;e] 2002 foÙkh; LFkkiukvksa esa tekdÙkkZvksa ds fgrksa dk laj{k.k
,oa mlls lacaf/kr vU; ekeyksa ds fy, vf/kfu;eA
Hkkjr x.kjkT; ds frjiuosa o"kZ esa fcgkj jkT; fo/kku eaMy }kjk
fuEufyf[kr :Ik esa ;g vf/kfu;fer gks ;Fkk %&
¼1½ ;g vf/kfu;e fcgkj tekdÙkkZvksa ds fgrksa dk laj{k.k ¼foÙkh;
LFkkiukvksa esa½ ¼la'kks/ku½ vf/kfu;e 2002 dgk tk ldsxkA
¼2½ bldk foLrkj lEiw.kZ fcgkj jkT; esa gksxkA
¼3½ ;g rqjar izo`Ùk gksxkA
bl vf/kfu;e esa tcrd lanHkZ ls vU;Fkk visf{kr u gks&
¼d½ ^^l{ke izkf/kdkjh** ls vfHkizsr gS /kkjk&5 ds v/khu fu;qDr
l{ke izkf/kdkjh]
¼[k½ ^^vfHkfgr U;k;ky;** ls vfHkizsr gS /kkjk&7 ds v/khu xfBr
vfHkfgr U;k;ky;]
¼x½ ^^tek**&fofufnZ"V vof/k ds ckn ;k vU;Fkk udn ;k oLrq
;k fofufnZ"V lsok ds :Ik esa lwn] cksul] ykHk ;k fdlh vU;
:Ik esa fdlh Qk;nk ds lkFk ;k Qk;nk jfgr okilh ds
bjkns ls fdlh foÙkh; LFkkiuk }kjk /ku dh izkfIr ;k fdlh
ewY;oku oLrq dk izfrxzg.k] tek esa 'kkfey gksxk] vkSj lnk
ls 'kkfey le>k tk;sxk fdUrq blesa fuEufyf[kr 'kkfey
ugha gksxkA
3
¼i½ Hkkjrh; izfrHkwfr ,oa fofue; cksMZ vf/kfu;e 1992 ¼1992 dk
15½ ds v/khu LFkkfir ^^lsch }kjk fn;s x, ekxn'kZd
fl)karksa ,oa cuk, x, fofu;eksa ds v/khu vkPNkfnr 'ks;j
iwath ;k fMosapj] ckWM ;k fdlh vU; fyf[kr ds :Ik esa
mxkgh x;h jkf'k;
¼ii½ fdlh QeZ ds Hkkxhnkjksa ds }kjk iw¡th ds :Ik esa vfHknÙk
jkf'k;
¼iii½ vuqlwfpr cSad ;k lgdkjh cSad ;k cSaddkjh fofu;eu
vf/kfu;e 1949 ¼1949 dk 10½ dh /kkjk&5 ds [kaM ¼x½ esa
;Fkk ifjHkkf"kr fdlh vU; cSafdax dEiuh ls izkIr jkf'k;
¼iv½ fuEufyf[kr ls izkIr dksbZ jkf'k&
¼d½ Hkkjrh; vkS|ksfxd fodkl cSad]
¼[k½ jkT; foÙkh; fuxe]
¼x½ Hkkjrh; vkS|ksfxd fodkl cSad vf/kfu;e 1964 dh
/kkjk&6 d esa ;k mlds v/khu fofufnZ"V fdlh foÙkh;
laLFkk;
¼v½ dkjckj ds lkekU; vuqØe esa fuEufyf[kr :Ik esa izkIr
jkf'k&
¼d½ izfrHkwfr tek]
¼[k½ O;ogkjh tek]
¼x½ vfxze /ku]
¼?k½ vkfn"V eky ;k lsok ds fo:) fn;k x;k vfxze;
4
¼vi½ jkT; esa rRle; izo`Ùk lkgwdkjh ls lacaf/kr fdlh
vf/kfu;fefr ds v/khu jftLVªhd`r fdlh O;fDr ;k QeZ
;k O;f"V&laxe] tks fu;fer fudk; ugha gS] ls izkIr dksbZ
jkf'k; vkSj
¼vii½ fpV dh ckor vfHknku ds :Ik esa izkIr dksbZ jkf'kA
& I &^^fpV** ls ogh vfHkizsr gaS] tks fpV QaM
vf/kfu;e 1982 ds [kaM ¼[k½ dh /kkjk&2 ds
v/khu fu;r fd;k x;k gSA
&II & fdlh fcØsrk }kjk fdlh lEifÙk ¼py ;k
vpy½ dh fcØh ij Øsrk dks fn;s x;s fdlh
m/kkj dks bl [k.M ds iz;kstukFkZ tek ugha
le>k tk;sxkA
¼?k½ ^^foÙkh; LFkkiuk** ls vfHkizr gS dksbZ O;fDr ftlesa
O;f"V&laxe] 'kkfey gS] pkgs og ftl :Ik ls dk;Z
ifjpkyu djrs gks] QeZ ;k dEiuh& tks fdlh Ldhe ;k
O;oLFkk ds rgr~ vFkok fdlh vU; izdkj ls tek dk
izfrxzg.k djrk gS fdUrq blesa jkT; ljdkj] dsUnz
ljdkj vFkok fofu;eu vf/kfu;e 1949 dh /kkjk&5 ds
[k.M ¼x½ ds v/khu ifjHkkf"kr fdlh cSafdax dEiuh }kjk
LoRokf/kd`r ;k fu;af=r fuxe ;k lgdkjh lfefr
'kkfey ugha gSA
¼M+½ ^^ljdkj** ls vfHkizsr gS fcgkj ljdkjA
¼p½ ^^fofgr** ls vfHkizsr gS bl vf/kfu;e ds v/khu fofgrA
¼1½ tc dksbZ foÙkh; LFkkiuk tks ifjiDork ij tek dk izfrlank;
lwn cksul ykHk ds :Ik esa ;k ;Fkk izfrKkr fdlh vU; :i esa
fdlh Qk;ns lfgr nsus esa O;frØe djrh gS ;k tek ds fo:)
vk'okflr
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lsok eqgS;k djkus esa csbZekuh ls foQy jgrh gS] oSlh foÙkh;
LFkkiuk ds dkjckj ;k dke&dkt ds izcU/ku ;k lapkyu ds fy,
mÙkjnk;h gj O;fDr] ftlesa laiorZd] Hkkxhnkj] funs'kd] izcU/kd
vU; dksbZ O;fDr vFkok deZpkjh 'kkfey gS] fl) nks"k gksus ij
nl o"kZ rd ds fy, dkjkokl ,oa ,d yk[k :Ik;s rd ;k tgk¡
,slk O;frØe /ku dh fu/kkZj.kh; jde ls lacaf/kr gks] ogk¡
O;frØe dh jkf'k dh nwuh jde] tks Hkh vf/kd gks] ds tqekZu ls
nafMr fd;k tk;sxk( ijUrq U;k;ky; ds fu.kZ; esa vfHkfyf[kr fd;s
tkus okys fo'ks"k ,oa i;kZIr dkj.kksa ds vHkko esa rhu o"kksZa ds
dkjkokl ,oa ipkl gtkj :Ik;s ls de tqekZus dh ltk ugha
gksxhA
I
bl /kkjk ds iz;kstukFkZ ,slh foÙkh; LFkkiuk dh tks lwn ds :i esa
Qk;nk ds lkFk fdlh tek] cksul] ykHk ;k fdlh vU; :i esa
fn;s x, opu ds lfgr izfrlank; djus esa O;frØe djs vFkok
,slh tek ds fy, lger dksbZ fofufnZ"V lsok eqgS;k djkus esa
fdlh ,d O;fDr dks lnks"k vfHkykHk ,oa vU; O;fDr dks lnks"k
gkfu igq¡pkus ds vk'k; ls foQy gks vFkok tek ds izfrxzg.k ds
le; dh xbZ vO;ogkfjd ;k okf.kfT;d rkSj ij vO;ogk;Z o;u
ds QyLo:i vFkok tek ls vftZr /ku ,oa vkfLr;k¡ ds bl jhfr
ls vfHkfu;kstu ls] tc mldh vko'd;rk gks ,oa mldh olwyh
esa vUrfuZfgr tksf[ke vUrxzZLr gks] mRiUu viuh v{kerk ds
dkj.k ,slk O;frØe djrh gks] fofufnZ"V lsok nsus esa diViwoZd
O;frØe ;k foQyrk le>h tk;sxhA
II
tc ;g iz'u mBs fd fdlh foÙkh; LFkkiuk us bl /kkjk ds
vfHkizsr vUrxZr diViw.kZ O;frØe fd;k gS ;k ugh arc U;k;ky;
,slh mi/kkj.kk djsxk fd foÙkh; LFkkiuk diViwoZd O;frØe dh
gSA
6
¼1½ rRle; izo`Ùk fdlh vU; fof/k esa fdlh ckr ds varfoZ"V
gksrs gq, Hkh&
¼i½ tekdÙkkZvksa ls ;k vU;Fkk izkIr f'kdk;r ij tc ljdkj dk
;g lek/kku gks tk; fd dksbZ foÙkh; LFkkiuk fuEufyf[kr dks
djus esa foQy gks pqdh gS&
¼d½ ifjiDork ds ckn ;k tekdÙkkZvksa }kjk ekax fd;s tkus
ij tek okil djus;
¼[k½ lwn ;k vU; vk'okflr Qk;nk nsus;
¼x½ ,slh tek ds fo:) opuo) lsok nsusA
¼ii½ tgk¡ ljdkj dks ;g fo'okl djus dk dkj.k gks fd dksbZ
foÙkh; LFkkiuk tekdÙkkZvksa dks /kks[kk nsus ds vk'k; ls
izdfYir jhfr ls muds fgr ds fy, gkfudj dk;Z dj jgh
gS] vkSj ;fn ljdkj dk ;g lek/kku gks tk;s fd ,slh
foÙkh; LFkkiuk }kjk tek ds okilh ;k lwn dk Hkqxrku ;k
vU; vk'oklhr Qk;ns dk Hkqxrku vFkok mu lsokvksa dks
miyC/k djkus okyh ugha gS ftuds fy, tek izkIr fd;k
x;k gS] rks ,slh foÙkh; LFkkiuk ds tekdÙkkZvksa ds fgr dh
j{kk ds fy,] dkj.kksa dks fyf[kr :Ik vfHkfyf[kr djus ds
ckn og jkti= esa izdk'ku }kjk ,sls /ku ;k vU; lEifÙk]
ftlds laca/k eas fo'okl gks fd ml foÙkh; LFkkiuk }kjk ;k
rks vius uke ls ;k fdlh vU; O;fDr ds uke ls foÙkh;
LFkkiukvksa }kjk laxzfgr tek ls vftZr fd;k gS rks mls
vFkok ;fn ;g izdV gksrk gS fd /ku ;k lEifÙk dqdhZ ds
fy, miyC/k ugha gS
7
;k tek dh izfrlank; ds fy, Ik;kZIr ugha gS] rks mDr
foÙkh; LFkkiuk ;k laizoÙkZd] funs'kd] Hkkxhnkj ;k izca/kd
vFkok mDr foÙkh; LFkkiuk ds lnL;ksa dks ml lEifÙk dh]
ftls ljdkj mi;qZDr le>s dqdZ djrs gq, jkti= esa
izdkf'kr djrs gq, ,d vkns'k fuxZr dj ldsxhA
¼2½ mi/kkjk ¼1½ ds v/khu vkns'k ds izdk'ku ij foÙkh; LFkkiuk
,oa mlesa mYysf[kr O;fDr;ksa dh lkjh lEifÙk ,oa vkfLr;k¡
rRdky vfHkfgr U;k;ky; ds vxys vkns'k rd ljdkj }kjk
fu;qDr l{ke izkf/kdkjh esa fufgr gks tk;sxhA
¼3½ fdlh vU; fof/k esa fo'ks"k :Ik esa tSlk vU;Fkk micaf/kr gks]
mlds flok;] dqdhZ] flfoy izfØ;k lafgrk ds vkns'k 21
fu;e 43] 43d] 46] 47] 49] 50] 51 ,oa 54 ds v/khu fMØh
ds fu"iknu esa lEifÙk dh dqdhZ ds fy, micaf/kr jhfr ls
dh tk;sxhA
¼1½ /kkjk&4 dh mi/kkjk ¼1½ ds v/khu vkns”k fuxZr djrs le;
ljdkj vius fdlh inkf/kdkjh dks tks lekgÙkkZ ls vU;wu
iafDr ds gks] dh /kkjk&4 ds v/khu ljdkj }kjk dqdZ foÙkh;
LFkkiuk ds /ku ,oa lEifÙk ij fu;a=.k djus gsrq l{ke
izkf/kdkjh ds :Ik esa fu;qDr dj ldsxhA
¼2½ fu;qfDr ds vkns”k izkIr gksus ij] l{ke inkf/kdkjh vfoyac
,slh lHkh vko”;d dkjZokbZ djsxk tks lacaf/kr foÙkh;
LFkkiuk dh lHkh /ku ,oa vkfLr;ksa dk oLrqxr dCtk esa ysus
ds fy, vko”;d ,oa lehphu gks vkSj l{ke inkf/kdkjh dks
8
lHkh “kfDr;k¡ izkIr gksxh tks iwoksZDr iz;kstukFkZ vko”;d
gksaA
¼3½ l{ke izkf/kdkjh mDr vkns'k ds izdk'ku dh frfFk ls 30
fnuksa ds vanj vfHkfgr U;k;ky; esa mu vk/kkjksa dk dFku
djrs gq, ftuij ljdkj us /kkjk&4 ds rgr vkns'k fuxZr
fd;k gS vkSj /ku ;k vU; lEifÙk ftlds laca/k esa fo'okl
fd;k x;k gS] fd tek ls vftZr dh x;h gS vkSj mu
O;fDr;ksa dk] ;fn dksbZ gks] ftuds uke ij ;k mlls lEifÙk
ds fofufgr fd;s tkus ;k vftZr fd;s tkus dk fo'okl
vFkok /kkjk&4 ds v/khu dqdZ dh x;h dksbZ vU; lEifÙk dk
fooj.k vFkok ,sls fdlh vkns'k dk] tks vko';d ik;k tk;
ds fy, ,d ;k vf/kd 'kiFki=ksa ds lkFk vkosnu djsxkA
¼4½ l{ke izkf/kdkjh] fdlh vU; jkT; ljdkj dh fof/k ds v/khu]
fdlh foÙkh; LFkkiuk ds fdlh /ku ;k lEifÙk ls lacaf/kr
fdlh fookn~;d ;k fo"k;oLrq esa U;k;&fu.kZ; djus ds fy,
le:Ik vf/kfu;fefr ds v/khu xfBr ;k 'kfDr;ksa ls U;Lr
fdlh vfHkfgr U;k;ky; ;k fdlh vU; U;kf;d
Qksje@izkf/kdkjh dks] bl vf/kfu;e ds v/khu] vf/klwfpr
fdlh foÙkh; LFkkiuk ;k O;fDr ds] ml izkf/kdkjh dh {ks=h;
vf/kdkfjrk esa fLFkr] /ku ;k lEifÙk ds laca/k esa bl
vf/kfu;e ds mica/kksa dks izHkkoh cukus ds fy, Hkh vkosnu
dj ldsxkA
¼5½ mi/kkjk ¼1½ ds v/khu fufgr 'kfDr;ksa dh O;kidrk ij
izfrdwy izHkko Mkys fcuk l{ke izkf/kdkjh fuEufyf[kr dk
gdnkj gksxk&
¼d½ fdlh Hkh vkj{kh izkf/kdkjh ;k vU; izkf/kdkjh ;k O;fDr ls
lgk;rk dh vis{kk djus vkSj ,slh vis{kk fd;s tkus ij
9
vkj{kh izkf/kdkjh ;k ,sls vU; izkf/kdkjh ;k O;fDr dk
vko';d lgk;rk nsuk dÙkZO; gksxk;
¼[k½ l{ke izkf/kdkjh dh gSfl;r ls izkIr /ku dk fuiVko djrs
le; fdlh vuqlwfpr okf.kT; cSad esa [kkrk [kksyus ,oa
olwy fd;s x;s lHkh /ku tek djus vkSj cSad [kkrs dk
ifjpkyu djus;
¼x½ ,sls fdlh O;fDr ls] ftudk foÙkh; LFkkiuk dh fdlh /ku
;k vkfLr;ksa ij dCtk ;k fu;a=.k gksus dk fo'okl gksus
ij vko';d tkudkjh nsus] ,slh lEifÙk dk dCtk l{ke
izkf/kdkjh dks nsus dh vis{kk djus vkSj og O;fDr dksbZ
le; u"V fd;s fcuk vis{kk dk vuqikyu djsxk;
¼?k½ fdlh fof/k O;olk;h ;k pkVZM ,dkmUVsaV ;k fdlh vU;
O;fDr dks fu;qDr djus] ftudh lsok,¡ foÙkh; LFkkiuk dh
vkfLr;ksa dks dCtk eas ysus ;k olwyh ds fy, vko';d
gks;
¼M+½ foÙkh; LFkkiuk ;k mlds fu;a=.kk/khu fdlh foi.k;
izfrHkwfr ;k ijkdkE; fy[kr dk fcØ;] izkfIr] varj.k]
i`"Bkadu] ijkØe.k djus ;k vU;Fkk laO;ogkj djus vkSj
mldk leqfpr mUekspu djus]
¼p½ lkoZtfud uhykeh ;k vfHkfgr U;k;ky; ds iwoZ vuqeksnu
ls futh O;oLFkk ds }kjk foÙkh; LFkkiuk dk ;k mlds
fu;a=.kk/khu fdlh py ;k vpy lEifÙk dk fcØ;]
varj.k ;k vU;Fkk olwyh djus;
¼N½ vfHkfgr U;k;ky; }kjk ikfjr vkns'k ds vuqlkj cSad [kkrs
ls Hkqxrku djus; vkSj
10
¼t½ foÙkh; LFkkiuk dh lEifÙk dh Rofjr olwyh ds fy,
vko';d lHkh ,oa izR;sd dk;Z ;k d`R; djus;
ijarq vfHkfgr U;k;ky; }kjk ljdkj }kjk dqdhZ vkns'k
dks vkR;afrd fd;s tkus ;k /kkjk&8 ds v/khu iqujhf{kr
dqdhZ vkns'k fuxZr fd;s tkus ds iwoZ] py lEifÙk;ksa dk
fcØ; ;k varj.k ugha fd;k tkuk pkfg,A
¼6½ l{ke izkf/kdkjh] olwys x;s /ku ls tekdÙkkZvksa dks Hkqxrku
djus gsrq vuqefr ds fy, vfHkfgr U;k;ky; dks le;≤
ij vkosnu nsxkA ,slk vkosnu nsrs le;] l{ke izkf/kdkjh
tekdÙkkZvksa ds nkf;Ro ,oa vU; nkf;Roksa dk fu/kkZj.k dj
ysxk vkSj olwys x;s ;k olwyuh; /ku dks lEiw.kZ nkf;Roksa dks
iwjk djus ds fy,] Ik;kZIr ugha gksus dh n'kk esa tekdÙkkZvksa
rFkk vU; ysunkjksa dks vkaf'kd Hkqxrku djus dh vuqefr ds
fy, vfHkfgr U;k;ky; ls fuosnu djsxk vkSj vfHkfgr
U;k;ky; ds vkns'k ds vuqlkj /ku laforfjr djsxkA
bl /kkjk ds iz;kstukFkZ ^^foÙkh; LFkkiuk** vfHkO;fDr esa mDr
LFkkiuk ds fuos'kd] izoÙkZd] izca/kd ;k lnL; vFkok fdlh
vU; O;fDr] ftudh lEifÙk ;k vkfLr;k¡ /kkjk&3 ds v/khu
dqdZ dh xbZ gks] lfEefyr gSaA
¼1½ l{ke izkf/kdkjh viuh fu;qfDr dh frfFk ls rhl fnuksa ds
Hkhrj foÙkh; LFkkiuk dh vkfLr;ksa vkSj tek nkf;Roksa dk
fu/kkZj.k djsxk vkSj mldk fooj.k vfHkfgr U;k;ky; dks
Hkst nsxkA
11
¼2½ l{ke izkf/kdkjh rRi'pkr izfrHkwr ysunkjksa ls ;fn gksa vkSj
foÙkh; LFkkiuk ds tekdÙkkZvksa ls Hkh vius nkosa rFkk nkok
LFkkfir djus ds fy, mfpr lcwr izLrqr djus ds fy,
vkeaf=r djrs gq, O;fDr'k% ;k izdk'ku ds izHkkoh izpkj
ek/;e ls lwpuk fuxZr djsxkA
¼3½ mi /kkjk&¼2½ ds v/khu nkosnkj dks Hksth xbZ ;k Hksth xbZ
le>h tkus okyh izR;sd lwpuk esa ;g vfHkdfFkr fd;k
tk;sxk fd nkok dk fooj.k l{ke izkf/kdkjh dks] ;fn lwpuk
dh frfFk ls ,d eghus dh vof/k dh lekfIr ds iwoZ ugha
Hkstk x;k rks] bl vf/kfu;e ds micU/k ds v/khu nkos dks]
Hkqxrku ikus ds gdnkj nkok ugha ekuk tk;sxkA
¼4½ izfrHkwfr ysunkj dks Hksth xbZ izR;sd lwpuk esa muls] lwpuk
dh frfFk ls ,d eghus dh vof/k dh lekfIr ds iwoZ izfrHkwfr
dk ewY;kadu djus dh vis{kk dh tk;sxh vkSj ,slh lwpuk esa
;g Hkh vfHkdfFkr fd;k tk;sxk fd ;fn l{ke izkf/kdkjh dks
izfrHkwfr ds ewY;kadu ds lkFk&lkFk nkos dk fooj.k ugha
Hkstk tkrk gS rks l{ke izkf/kdkjh Lo;a izfrHkwfr dk ewY;kadu
djsaxs vkSj muds ewY;kadu ,sls izfrHkwr ysunkj ij ck/;dkjh
gksxkA
¼5½ nkosnkj ;fn lwpuk ds vuqikyu esa vlQy gksrk gS rks
mi/kkjk ¼4½ ds vuqlkj ,slh izfrHkwfr dk ewY;kadu l{ke
izkf/kdkjh }kjk] muds Js"B fu.kZ; ds vuqlkj] fd;k tk;sxkA
¼1½ bl vf/kfu;e ds iz;kstukFkZ] ljdkj mPp U;k;ky;] iVuk
ds eq[; U;k;k/kh'k dh lgefr ls jkti= esa vf/klwpuk }kjk]
lgk;d ls'ku U;k;k/kh'k lfgr v/khuLFk U;k;k/kh'k ds laoxZ
esa] ,sls {ks= ;k {ks=ksa ds fy, ;k ,sls ekeys ;k ekeyksa ds oxZ
12
;k lewg ds fy, tSlk fd vf/klwpuk esa fofufnZ"V fd;k
tk;] ,d ;k ,d ls vf/kd vfHkfgr U;k;ky; dk xBu dj
ldsxhA
¼2½ vfHkfgr U;k;ky; ls fHkUu vU; fdlh U;k;ky; ftlesa
izsflMsalh uxj fnokyk vf/kfu;e 1909 ,oa izkarh; fnokyk
vf/kfu;e 1920 ds v/khu xfBr U;k;ky; lfEefyr gS] dks
,slh fdlh fo"k; ds laca/k esa vf/kdkfjrk ugha gksxh ftlesa
bl vf/kfu;e ds mica/kksa ds voyac fy;s x, gksaA
¼3½ vU; fdlh U;k;ky; esa yfEcr dksbZ ekeyk ftlij bl
vf/kfu;e ds mica/k ykxw gksa bl vf/kfu;e ds izdk'ku dh
frfFk ls vfHkfgr U;k;ky; esa vUrfjr gks tk;sxkA
¼1½ /kkjk&5 ds v/khu vkosnu izkIr gksus ij] vfHkfgr U;k;ky;]
foÙkh; LFkkiuk ;k fdlh vU; O;fDr dks ftldh lEifÙk
/kkjk&4 ds v/khu ljdkj }kjk dqdZ dh xbZ gks vkSj l{ke
izkf/kdkjh esa fufgr dh xbZ gks] vkosnu ds izfr ,oa
'kiFk&i= rFkk lk{;] ;fn vfHkfyf[kr gks] ds lkFk mDr
LFkkiuk ,oa mDr O;fDr dks lwpuk esa] fofufnZ"V frfFk dks
dkj.k crkus gsrq] cqykus ds fy, ,d lwpuk tkjh djsxk fd
dqdhZ ds vkns'k dks D;ksa ugha vkR;afrd dj fn;k tk;A
¼2½ vfHkfgr U;k;ky; mu lHkh O;fDr;ksa dks Hkh ,slh lwpuk
tkjh djsxk ftUgsa mi/kkjk ¼1½ ds v/khu ftu foÙkh; LFkkiuk
;k O;fDr dks uksfVl tkjh dh x;h gks ,oa mudh lEifÙk esa
fgr ;k gd j[kus okys ;k laHkkO; nkosnkj ds :Ik esa
izfrfuf/kRo fd;k gks vkSj ,sls lHkh O;fDr;ksa dks mlh frfFk
dks] tSlk fd lwpuk esa fofufnZ"V gks] mifLFkr gksus ds fy,
13
,oa ;fn os pkgs] lEifÙk ;k mlds fdlh Hkkx dh dqdhZ ij
bl vk/kkj ij vkifÙk djus ds fy, fd ,slh lEifÙk ;k
mlds fdlh Hkkx esa mudk fgr gSA
¼3½ dqdZ dh x;h lEifÙk ;k mlds fdlh Hkkx esa fgr dk nkok
djus okyk dksbZ O;fDr ml ckr ds gksrs gq, fd bl /kkjk
ds v/khu dksbZ lwpuk mls rkehy ugha dh xbZ gS] vfHkfgr
U;k;ky; esa mi/kkjk ¼4½ ;k mi/kkjk ¼6½ ds v/khu dksbZ
vkns'k ikfjr fd, tkus ds iwoZ fdlh Hkh le; mi;qZDr :Ik
esa vkifÙk dj ldsxkA
¼4½ ;fn mi/kkjk ¼3½ ds v/khu dksbZ dkj.k ugha n'kkZ;k x;k ;k
vkifÙk ugha dh x;h rks vfHkfgr U;k;ky; rqjar dqdhZ ds
vkns'k dks vkR;afrd djrs gq, ,d vkns'k ikfjr djsxk ,oa
dqdZ dh x;h vkfLr;ksa dh olwyh rFkk dqdZ dh x;h lEifÙk
ls olwys x;s /ku dks tekdÙkkZvksa ds chp lkE;iw.kZ forj.k
gsrq] ;Fkk vko';d] funs'k tkjh djsxkA
¼5½ ;fn] mi;qZDr] :Ik esa dkj.k n'kkZ;k x;k ;k dksbZ vkifÙk dh
x;h gks rks vfHkfgr U;k;ky; mlds vUos"k.k dh dkjZokbZ
vkjEHk djsxk ,oa ,slk djrs le; i{kdkjksa ds ijh{k.k ds
laca/k esa ,oa vU; lHkh ckrksa esa vfHkfgr U;k;ky;] bl
vf/kfu;e ds micU/kksa ds v/;k/khu flfoy izfØ;k lafgrk
1908 ds v/khu vkns'k 37 esa ;Fkk vuq/;kr laf{kIr izfØ;k
dk vuqlj.k djsxk ,oa mDr lafgrk ds v/khu fdlh okn dh
lquokbZ esa U;k;ky; dh lHkh 'kfDr;ksa dk iz;ksx djsxk rFkk
vkifÙk djus okys O;fDr ls ;g n'kkZus ds fy, lk{; is'k
djus dh vis{kk dh tk;sxh fd dqdhZ dh rkjh[k dks dqdZ dh
x;h lEifÙk esa mudk dksbZ fgr FkkA
14
¼6½ mi/kkjk ¼5½ ds v/khUk vUos"k.k ds Ik'pkr~ vfHkfgr U;k;ky;
;k rks /kkjk&4 dh mi/kkjk ¼1½ ds v/khu ikfjr dqdhZ ds
vkns'k dks vkR;afrd gq, ;k lEifÙk ds fdlh Hkkx dks
dqdhZ ls fueqZfDr }kjk cnyrs gq, ;k dqdhZ ds vkns'k dks
jn~n djrs gq, ,d vkns'k ikfjr djsxk %
ijUrq vfHkfgr U;k;ky; ,sls fdlh fgr dks] rc rd dqdhZ
ls foeqDr ugha djsxk ftlesa mldk lek/kku gks x;k gks fd
mi/kkjk ¼1½ esa funsZf'kr foÙkh; LFkkiuk ;k O;fDr dk ml
lEifÙk esa fgr gS] tcrd bldk Hkh lek/kku u gks tk; fd
dqdhZ ds v/khu ckdh cpus okyh jkf'k ;k lEifÙk dk ewY;
foÙkh; LFkkiuk ds tekdÙkkZvksa dks izfrlank; ds fy, visf{kr
ewY; ls de ugha gksxkA
¼7½ tgk¡ vkosnu fdlh ,slh O;fDr }kjk fn;k x;k gks] ftUgsa
fdlh vU; jkT; ljdkj }kjk le:Ik vf/kfu;fefr ds v/khu
,slh ljdkj }kjk dqdZ dh xbZ /ku ;k lEifÙk ij fu;a=.k
gsrq mls l'kDr djrs gq, lE;d&:Ik ls izkf/kd`r] fu;r ;k
fofufnZ"V fd;k x;k gks] ogk¡ vfHkfgr U;k;ky; viuh lHkh
'kfDr;ksa dk iz;ksx bl izdkj djsxk ekuksa vkosnu blh
vf/kfu;e ds v/khu fn;k x;k gks vkSj ,sls vkosnu ij
leqfpr vkns'k ;k funs'k ikfjr djsxkA
¼1½ bl vf/kfu;e ds micU/kksa dks izHkko'kkyh djus ds fy, vfHkfgr
U;k;ky; dks lHkh 'kfDr;k¡ gksaxhA
¼2½ mi/kkjk ¼1½ dh O;kidrk ij izfrdwy izHkko Mkys fcuk] vfHkfgr
U;k;ky;&
15
¼d½ bl vf/kfu;e ds micU/kksa ds izHkkoh dk;kZUo;u ds fy, l{ke
izkf/kdkjh dks dksbZ Hkh funs'k] tks og Bhd le>s] ns ldsxk(
¼[k½ fofHkUu nsunkjksa ls 'kks/; foÙkh; LFkkiuk ds 'kks/; fooj.kh dks
vuqeks fnr] foÙkh; LFkkiuk ds vkfLr;ksa dk ewY; fu/kkZj.k dj
ldsxk vkSj tekdÙkkZvksa dh lwph ,oa muds 'kks/; dks vfUre :i
ns ldsxk(
¼x½ l{ke izkf/kdkjh dks foÙkh; LFkkiuk dh ;k mlds fu;a=.kk/khu
fdlh Hkh vkfLr;ksa dks dCtk esa ysus dk funs'k ns ldsxk vkSj
dqdZ dh xbZ vkfLr;ksa ds fcØ;] vUrj.k ;k olwyh] ;k rks
yksduhyke }kjk ;k vkfLr;ksa ds Lo:i ds vuqlkj futh fcØ;
}kjk djus dk tSlk og Bhd le>s ,oa fcØh&vkxe dks cSad
[kkrs esa tek djus dk funs'k ns ldsxk(
¼?k½ forh; LFkkiuk dh vkfLr;ksa dks dCtk esa ysus ,oa olwyh ds fy,
l{ke izkf/kdkjh }kjk mixr fd;s tkus okys vko';d O;; dks
vuqeksfnr dj ldsxk(
¼M+½ l{ke izkf/kdkjh }kjk tekdÙkkZvksa dks Hkqxrku ds fy, vkns'k ns
ldsxk ;k bl izdkj olwyk x;k /ku lEiw.kZ tek nkf;Roksa dh
iwfrZ djus esa vi;kZIr gksus dh fLFkfr esa tekdÙkkZvksa dks
vkuqikfrd Hkqxrku djus dk vkns'k ns ldsxk( ,oa
¼p½ dEiuh dh vkfLr;ksa dh olwyh ds fy, ,oa foÙkh; LFkkiuk ds
tekdÙkkZvksa dks izfrlank; ds fy, ;k blls vkuqoaf'kd fdlh Hkh
fo"k; ;k fookn~;d ij dksbZ Hkh vkns'k] vfHkfgr U;k;ky;] tks
mfpr le>s] ikfjr dj ldsxkA
16
bl /kkjk ds iz;kstukFkZ vfHkO;fDr "foÙkh; LFkkiuk" esa mDr
LFkkiuk ds funs'kd] izorZd] izcU/kd ;k lnL; vFkok dksbZ
vU; O;fDr ftudh vkfLr;ksa ;k lEifr /kkjk&3 ds v/khu dqdZ dh
xbZ gks] lfEefyr gSA
¼1½ tgk¡ /kkjk&4 esa funsZf'kr fdlh foÙkh; LFkkiuk ;k O;fDr dh
vkfLr;k¡ dqdhZ ds fy, miyC/k ml jkf'k ;k ewY; ls de ik;h
tk; tks foÙkh; LFkkiuk }kjk tekdÙkkZvksa dks izfrlank; djuk
visf{kr gks vkSj tgk¡ 'kiFki= ;k vU;Fkk }kjk vfHkfgr U;k;ky;
dk ;g lek/kku gks x;k gks fd ,slk fo'okl djus dk ;qfDr;qDr
dkj.k gS fd mDr foÙkh; LFkkiuk ln~Hkkoiw.kZ vkSj i;kZIr izfrQy
ls vU;Fkk fdlh Hkh lEifr dks vUrfjr ¼pkgs bl vf/kfu;e ds
vkjEHk gksus ds ckn ;k igys½ dj fn;k gS rks vfHkfgr U;k;ky;]
lwpuk }kjk] ,slh lEifr ds vUrfjrh ls ¼pkgs mlus lEifr mDr
foÙkh; LFkkiuk ls izR;{kr% izkIr fd;k gks ;k ugha½ lwpuk esa
fofufnZ"V frfFk dks mifLFkr gksdj dkj.k n'kkZus dh vis{kk dj
ldsxk fd vUrfjrh dh lEifr dh mruh ek=k tks vUrfjr
lEifr ds mfpr ewY; ds lerqY; gks] dks D;ksa ugha dqdZ dj
fy;k tk;A
¼2½ tgk¡] mDr vUrfjrh fofufnZ"V frfFk dks mifLFkfr ugha gks vkSj
dkj.k ugha n'kkZ;s ;k tgk¡ /kkjk& 7 dh mi/kkjk ¼5½ esa micaf/kr
jhfr ls vUos"k.k ds i'pkr~ vfHkfgr U;k;ky; dk lek/kku gks
tk; fd mDr vUrfjrh dks lEifr dk vUrj.k ln~Hkkoiw.kZ vkSj
i;kZIr izfrQy ds fy, ugha fd;k x;k Fkk rks vfHkfgr U;k;ky;
mDr vUrfjrh dh mruh lEifr dh] tks vfHkfgr U;k;ky; dh
17
jk; esa vUrfjr lEifr ds mfpr ewY; ds lerqY; gks] dqdhZ dk
vkns'k ikfjr djsxkA
fdlh foÙkh; LFkkiuk ;k O;fDr] ftldh lEifr bl vf/kfu;e ds
v/khu dqdZ dh xbZ gks ;k dqdZ fd;s tkus gsrq izLrkfor gks] fdlh
Hkh le; vfHkfgr U;k;ky; ds le{k ,slh dqdhZ ds cnys izfrHkwfr
nsus dh vuqefr ds fy, vkosnu dj ldsxk ,oa tgk¡ vkWQj dh
xbZ ,oa nh xbZ izfrHkwfr] vfHkfgr U;k;ky; dh jk; esa] larks"kizn
,oa i;kZIr gks ;g ;FkkfLFkfr dqdhZ vkns'k dks jÌ dj ldsxk ;k
ikfjr djus ls fojr gks ldsxkA
vfHkfgr U;k;ky;] dqdZ dh x;h ,oa l{ke izkf/kdkjh esa fufgr
fdlh lEifÙk ls fgrc) fdlh O;fDr ds vkosnu ij] lacaf/kr
O;fDr dks lquokbZ dk volj ns ldsxk rFkk ,slk vkns'k ikfjr
dj ldsxk ftls og fuEufyf[kr ds fy, U;k;laxr ,oa
;qfDr;qDr fopkj djsa %&
¼d½ ,slh dqdZ dh xbZ ,oa l{ke izkf/kdkjh esa fufgr lEifÙk ls og
jde] ftlesa vkosnd fgr gksus dk nkok djrk gS vkosnd ,oa
muds ifjokj ds Hkj.k&iks"k.k ,oa tgk¡ vfHkfgr U;k;ky; esa
/kkjk&3 ds v/khu vkosnd ds fo:) naM izfØ;k lafLFkr fd;k
x;k gks ogk¡ mudh vius cpko ls lacaf/kr O;; ds fy, tks
;qfDr;qDr :Ik ls vko';d gks] mica/k djus gsrqA
18
¼[k½ tgk¡ rd O;ogk;Z gks] dqdhZ ls izHkkfor fdlh dkjckj ds fgrksa
dh] fof'k"Vr% ,sls dkjckj ds Hkkxhnkj ds fgrksa dh j{kk djus
gsrqA
¼1½ dqdhZ ls lacaf/kr ,oa dqdhZ ds laca/k esa vfHkfgr U;k;ky; }kjk
ikfjr vafre vkns'k ds fo:) vafre vkns'k ikfjr fd;s tkus ds
60 fnuksa ds Hkhrj lac) {ks= ds mPp U;k;ky; ds le{k vihy
fd;k tk ldsxkA
¼2½ vfHkfgr U;k;ky; ds fopkj.k esa fl)nks"k O;fDr lac) {ks= ds
mPp U;k;ky; esa vihy dj ldsxkA
ljdkj] vfHkfgr U;k;ky; esa ekeys dk lapkyu ds iz;ktukFkZ
,d ;k ,d ls vf/kd vf/koDrkvksa dks] ftudk O;olk; fo'ks"k
yksd vfHk;kstd@fo'ks"k ljdkjh odhy ds :i esa 7 o"kksZa ls de
dk ugha gks] lEc) ftyk ds ftyk ,oa l= U;k;k/kh'k ds ijke'kZ
ls] vkns'k }kjk fu;qDr dj ldsxhA
¼1½ vfHkfgr U;k;ky;] bl vf/kfu;e ds v/khu vijk/k xfBr djus
okys rF;ksa ij iqfyl fjiksVZ dk voyksdu dj ;k jkT; ljdkj
}kjk bl gsrq izkf/k—r izkf/kdkjh }kjk f'kdk;r fd;s tkus ij]
vijk/kh dks fopkj.kkFkZ mUgsa lqiwnZ fd;s x;s fcuk vijk/k dk
laKku ys ldsxkA
19
¼2½ vijk/kh O;fDr dk fopkj.k djrs le;] vfHkfgr U;k;ky;] okjaV
ekeyk ds vijk/kksa ds fopkj.k ds fy, n.M izfØ;k lafgrk] 1973]
esa fofgr izfØ;k dk vuqlj.k djsxkA
¼3½ vfHkfgr U;k;ky;] vius ikl Hksts x;s O;fDr ds ckjs esa n.M
izfØ;k lafgrk] 1973 dh /kkjk& 167 ,oa 309 ds v/khu] ;Fkk
micaf/kr] izfros'k.k dh 'kfDr dk iz;ksx djsxkA
¼4½ vfHkfgr U;k;ky;] bl vf/kfu;e ds v/khu vijk/k fopkj djrs
le;] bl vf/kfu;e ds v/khu vijk/k ls fHkUu fdlh vU;
vijk/k dk Hkh fopkj.k dj ldsxk] ftlds fy, vfHk;qDr dks
n.M izfØ;k lafgrk] 1973 ds v/khu mlh fopkj.k esa nks"kkjksfir
fd;k x;k gksA
¼5½ ¼d½ bl vf/kfu;e ds v/khu naMuh; vijk/k laKs; gksxkA
¼[k½ bl vf/kfu;e ds v/khu vUrfoZ"V micU/kksa ds v/;k/khu
tekur ds ckjs esa n.M izfØ;k lafgrk ds v/;k; XXXIII ds
v/khu ;Fkk micaf/kr mica/k] n.M izfØ;k lafgrk dh /kkjk&438 ds
v/khu] ;Fkk micaf/kr iwokZf'kr tekur eatqj djus ds izko/kku dks
NksM+dj ykxw gksxkA
bl vf/kfu;e esa vU;Fkk micaf/kr ds flok;] bl vf/kfu;e ds
mica/kksa dk rRle; izo`Ùk fdlh vU; fof/k;ksa esa blls vlaxr
fdlh ckr ;k :f<+ ;k izFkk ds gksrs gq, Hkh v/;kjksgh izHkko gksxkA
20
bl vf/kfu;e ds v/khu ln~Hkkouk ls fd;k x;k ;k fd;s tkus ds
fy, vk'kf;r fdlh dk;Z ds fy, ljdkj ;k l{ke izkf/kdkjh ;k
ljdkj ds fdlh inkf/kdkjh ;k deZpkjh ds fo:) dksbZ ckn ;k
vU; dk;Zokgh lafLFkr ugha gksxhA
¼1½ bl vf/kfu;e ds iz;kstu dks dk;kZfUor djus ds fy, jkT;
ljdkj] jkti= esa vf/klwpuk }kjk] fu;e cuk ldsxhA
¼2½ bl vf/kfu;e ds v/khu cuk;h xbZ izR;sd fu;ekoyh] cuk;s tkus
ds i'pkr~ ;Fkk 'kD; 'kh?kz] jkT; fo/kku eaMy ds nksuksa lnuksa ds
le{k dqy rhl fnuksa dh l=kof/k ds nkSjku] tks ,d gh l= ;k
nks yxkrkj l= esa lekfo'V gks ldrk gks] j[kh tk;xh ,oa ;fn
ftl l= ds nkSjku bls j[kk x;k gS mldh lekfIr ds iwoZ vFkok
Bhd Ik'pkrorhZ l= esa] nksuksa lnu fu;ekoyh esa fdlh mikUrj.k
ds fy, lger gks tk;sa ;k nksuksa lnu fu;ekoyh ugha cuk,
tkus ds fy, lger gks tk;sa ,oa ml izHkko ds muds fu.kZ; dks
jkti= esa vf/klwfpr dj fn;k tkrk gS rks og fof/k jkti= esa
,sls fu.kZ; ds izdk'ku dh frfFk ls] ;FkkfLFkfr] ek= ,sls
mikUrfjr :i esa izHkkoh gksxh ;k vizHkkoh gksxhA fdUrq ,sls
mikUrj.k ;k okfryhdj.k bl fu;ekoyh ds v/khu iwoZ esa dh xbZ
;k foyksfir dh xbZ fdlh ckr dh fof/k ekU;rk ij izfrdwy
izHkko ugha gksxkA
21
bl vf/kfu;e ds micU/kksa dks izHkkoh cukus esa ;fn dfBukbZ
mRiUu gks rks ljdkj ,slh dfBukbZ mRiUu gksrs gh] vkns'k }kjk]
tks bl vf/kfu;e ds micU/kksa ls vlaxr u gksa] ,oa dfBukbZ;ksa dks
nwj djus ds fy, vko';d izrhr gks] dqN Hkh dj ldsxhA
10 flracj 2002
laΠ,y thΠ1&0812002&yst&258&fcgkj fo/kku eaMy }kjk
;Fkkikfjr vkSj jkT;iky }kjk 4 flracj] 2002 dks vuqer fcgkj
tekdÙkkZvksa ds fgrksa dk laj{k.k ¼foÙkh; LFkkiukvksa esa½ vf/kfu;e]
2002 dks fuEufyf[kr vaxzsth vuqokn fcgkj jkT;iky ds izkf/kdkj
ls blds }kjk izdkf”kr fd;k tkrk gS] ftls Hkkjrh; lafo/kku ds
vuqPNsn 348 ds [kaM ¼3½ ds v/khu mDr vf/kfu;e dk vaxzsth
Hkk’kk esa mldk izkf/kd`r ikB le>k tk;sxkA
fcgkj jkT;iky ds vkns”k ls
voj lfpo] fof/k foHkkx] fcgkjA
22
23
[BIHAR ACT, 18, 2002]
The Bihar Protection of Interest of Depositors
(In Financial Establishments), Act, 2002
AN
ACT
To protect the interest of Depositors of the Financial
Establishments and matters relating thereto.
Be in enacted by the Legislature of the State of Bihar in
the Fifty Third Year of the Republic of India as follows, namely
1. Short title and Commencement:
(1) This Act may be called the Bihar Protection of
Interests of Depositors (in Financial Establishment)
Act, 2002.
24
(2) It shall extend to whole of the State of Bihar
(3) It shall come into force at once.
2. Definitions :
In this Act unless the context otherwise requires:
(a) ''Competent Authority'' means the Competent
Authority appointed under section 5;
(b) Designated Court means the Designated Court
constituted under section 7;
(c) ''deposit'' includes and shall be deemed always to
have included any receipt of money or acceptance of
any valuable commodity by any Financial
Establishment to be returned after a specified period
or otherwise, either in cash or in kind or in the form
of interest, bonus, profit or in any other form, but
does not include-
(i) amount raised by way of share capital or by way
of debenture, bond or any other instrument
covered under the guidelines given, and
regulation made, by the "SEBI'', established
under the Securities and Exchange Board of
India Act, 1992 (15 of 1992);
(ii) amount contributed as capital by partners of a
firm;
25
(iii) amount received form a schedule bank or a co-
operative bank or any other banking company as
defined in clause (c) of section 5 of the Banking
Regulation Act, 1949 : (10 of 1949);
(iv) Any amount received from-
(a) the Industrial Development Bank of India
(b) a State Financial Corporation,
(c) any financial institution specified in or
under section 6A of the industrial
Development Bank of India Act, 1964;
(v) amount received in the ordinary course of
business by way of-
(a) security deposit
(b) dealership deposit
(c) earnest money
(d) advance against order for goods or
services;
(vi) any amount received from an individual or a firm
or an association of individuals nor being a body
corporate, registered under any enactment
relating to money lending which is for time being
in force in the State; and
(vii) any amount received by way of subscriptions in
respect of Chit.
Explanation-I
''Chit has the meaning as assigned to it in clause (b)
of section 2 of the Chit Funds Act, 1982;
Explanation-II
26
Any credit given by a seller to a buyer on the sale of
any property (whether moveable or immovable) shall not
be deemed to be deposit for the purpose of this clause.
(d) ''Financial Establishment'' means any person including
association of persons in whatever form it operates, a
firm or a company accepting deposit under any scheme
or arrangement or in any other manner but does not
include a corporation or a co-operative society owned
or controlled by any State Government or the Central
Government or a banking company as defined under
clause ( c) of section 5 of the Banking Regulation Act,
1949
(e) ''Government'' menas the Government of Bihar
(f) ''prescribed'' means prescribed under the Rules.
3. Fraudulent default by Financial Establishment:
Where any Financial Establishment, having fraudulently or
dishonestly, defaults in repayment of any deposit on maturity
along with any benefit in the form of interest, bonus or profit,
or in any other form as promised or fraudulently or
dishonestly fails to render service as assured against the
deposit, the Financial Establishment and every person
including the promoter, partner, director, manager or any
other person or any employee responsible for the
management of or conducting the business or affairs of such
Financial Establishment shall, on convention, be punished
27
with imprisonment for term up to ten years and with fine up
to ten years and with fine up to one lakh of rupees or where
such default relates to a quantifiable sum of money twice
amount of such, some whichever is more:
Provided that in absence of special and adequate reasons to be
recorded in judgement the Court, the imprisonment shall not be for
less than three years and the fine shall not be less than fifty
thousand rupees.
Explanation-I
For the purpose of this section, a Financial Establishment, which
commits default in repayment of any deposit with such benefits in
the terms of interest, bonus, profit or in any other term as promised
of falls to render any specified service agreed agains the deposit
with an intention of causing wrongful gain to one person on
wrongful loss to another person or commits such defaults due its
inability arising out of impracticable of commercially not viable
promises made while accepting such deposits or arising out of
development of money or assets acquired out of the deposits in such
a manner as it involves inherent risk in recovering the same when
needed, shall be deemed to have committed a default or failed to
render the specific service, fraudulently.
Explanation-II:
When a question arises whether any Financial Establishment has
committed fraudulent default within the meaning of this section, the
Court shall presume that such Financial Establishment has
committed the default fraudulently.
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4. Attachment of properties on default of return of deposits:
(1) Notwithstanding any thing contained in any other law for
the time being in force.
(i) Where upon complains received from the depositors or
otherwise the Government is satisfied that any
Financial Establishment has failed:
(a) To return the deposit after maturity on demand
by the depositors; or
(b) To pay interest or other assured benefits; or
(c) To provide the service promised against such
deposit; or
(ii) Where the Government has reason to believe that any
Financial Establishment is acting in a manner
detrimental to the interest of the depositors with an
intention to defraud them and if the Government is
satisfied that such Financial Establishment is not likely
to, return the deposits or make payment of interest or
other benefits assured or to provide the service against
the deposit is received, the Government may, in order
to protect the interest of the depositors of such
Financial Establishments, after recording reasons, in
writing, issue an order b) publishing it in the Official
Gazette, attaching the money or other property
29
believed to have been acquired by such Financial
Establishment either it its own name or in the name of
any other person
from out of the deposits collected by the Financial
Establishment, or if it transpire 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, director, partner or manager or member of
the said Financial Establishment as the Government
may deem fit.
(2) On the publication of the order under sub-section (i) all
the properties and assets of the Financial Establishment
and the persons mentioned therein shall forthwith vest in
the Competent Authority appointed by the Government,
pending further order from the Designated Court.
(3) Save and otherwise specially provided in any other law
the attachment shall be made in the manner provided for
attachment of property in execution of a decree under
order 21 Rules 43, 43A, 46, 47, 49, 50, 51 and 54 of the
Code of Civil Procedure.
5. Appointment, Duties and Power of Competent
Authority :
(1) The Government may while issuing the order under
sub-section (1) of section 4, appoint any of its officers
not below the rank of the Collector as the Competent
Authority to exercise control over the moneys and the
30
properties attachment by the Government under
section 4 of a Financial Establishment.
(2) On receipt of order of appointment, the Competent
Authority shall take such necessary actions as are
necessary or expedient for taking physical possession
of all the moneys and assets of the concerned financial
establishment expenditiously and the Competent
Authority shall have all the powers which are
necessary for the aforesaid purpose.
(3) The Competent Authority shall apply within thirty
days from the date of the publication of the said Order,
to the Designated Court, supported by one or more
affidavits stating the grounds on which the
Government has issued the said order under section 4
and the amount of money or other property believed to
have been acquired out of the deposits and the details,
if any, of persons in whose name such property is
believed to have been invested or acquired or any other
property attached under section 4, for such further
orders as found necessary.
(4) The Competent Authority may also make an
application to any Designated Court or any other
judicial forum/authority constituted or entrusted with
the powers under any other State Government Law for
adjudicating any issue or subject matter pertaining to
any money or property of a Financial Establishment
under similar enactment in respect of money and
property belonging to Financial Establishment or
31
person notified under this Act situated within the
territorial jurisdication of that authority for appropriate
orders to give effect to be provision of this Act.
(5) Without prejudice to the generality of the powers
vested under sub-section (i) the Competent
Authority shall be entitled to;
(a) require assistance of any police authority or any
other authority or person and on such requisition
it shall be the duty of the police authority or
such other authority or person to extened
necessary assistance'
(b) open bank accounts in any scheduled
commercial bank and credit all moneys realised
and operate the bank accounts while dealing
with the money received in his capacity as
Competent Authority;
(c) require any person believed to be in possession
or control over any money or assets of the
financial establishment, to furnish necessary
information, to hand over possession of such
assets to the Competent Authority and such
person shall comply with the requisition without
any loss of time;
(d) appoint legal practitioner or Chartered
Accountant or any other person whose services
are necessary for taking possession of assets and
realisation of the assets of the financial
establishment;
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(e) sell, receive, transfer, endorese, negotiate or
otherwise deal with any marketable security or
negotiable instrument belonging to or in the
control of the financial establishment and give
proper discharge for the same;
(f) sell, transfer of otherwise realize any movable or
immovable property belonging to or in the
control of the financial establishment either by
public auction or with private arrangements;
(g) make payment as per the orders passed by the
Designated Court from out of the bank accounts,
and
(h) do all and every acts and deeds which would be
necessary for the speedy realisation of the assets
of the financial establishment'
Provided that the sales and transfers of movable
properties should not be done before the atteachments
issued by the Government absoulute or has issued a
revised attachment order under Section-8.
(6) The Competent Authority shall make applications from
time to time to the Designated Court seeking
permission to make payments to the depositors from
out of the money realized. While making such
applications, the money realised. While making such
applications, the Competent Authority shall assess the
liability to the depositors and the other liablilities and
in case the money realized or realizable is not
sufficient to meet the entire liability, make a
submission to the Designated Court seeking
permission for making part payment to the depositors
and to other creditors and disburse the money as per
the order of the Designated Court seeking pemission
33
for making part payment to the depositors and to other
creditors and disburse the money as per the order of
the Designated Court.
Explanation:
For the purpose of this section, the expression
''financial establishment'' includes the directors,
promoters, managers or member of said establishment
or any other person whose property or assets have been
attached under section 4.
6. Assessment of assets and deposit liabilities:
(1) Within thirty days from of his appointment, the
Competent Authority shall assess the deposit liabilities
and the assests of the financial establishment and
submit the statement there of to the Designated Court.
(2) The Competent Authority, thereafter, shall issue notice
either individually or by means of effective media
publication, inviting the claims by secured creditors, if
any, and also the depositors of the financial
establishment to submit their claims with proper proof
to establish the same.
(3) Every notice under sub section (2) sent to or deemed to
have been sent to claimants shall state that if the
statement or claim is not sent to the Competent
Authority before the expiry of the period of one month
from the date of notice the claims shall not be treated
as claim entitled to be paid under the provision of this
Act.
(4) Every notice sent to a secured creditor shall require
him to value the security before the expiry of the
period of one month from the date of the notice and
such
34
notice shall also state that if the statement of the claim
together with the valuation of the security is not sent to
the Competent Authority, the Competent Authority
himself shall value the security and his valuation shall
be binding on such secured creditors.
(5) If the claimant fails to comply with the notice as per
the sub section (4), such security shall be valued by the
Competent Authority in his best judgment.
7. Designated Court:
(1) For the purpose of this Act, the Government
may, with the concurrence of the Chief Justice
of the Patna High Court, by notification in the
Official Gazettem constitute one or more
Designated Courts in the cadre of Subordinate
Judge including Assistant sessions Judge for
such area of areas or for such case or class or
group of cases, as maybe specified in the
notification.
(2) No court, including the court constitute under
the Presidency Towns Insolvency Act, 1909 and
the Provincial Insolvency Act. 1920, other than
the Designated Court, shall have jurisdiction in
respect of any matter to which the provisions of
this Act are invoked.
(3) Any pending case in any other court to which
the provisions of this Act apply shall, on the
date of publication of this Act, stand transferred
to the Designated Court.
35
8. Powers of Designated Court regarding attachment:
(1) Upon receipt of an application under section 5,
the Designated Court shall issue to the Financial
Establishment or to any other person whose
property is attached and vested in the Competent
Authority by the Government under section 4, a
notice accompanied by copy of the application
arid of affidavits and the evidence, if any
recorded, calling upon the said Establishment
and the said person to show cause on a date to
be specified in the notice, why the order of
attachment should not be made absolute.
(2) The Designated Court shall also issue such
notice to all other persons represented to is as
having or being likely to claim any Interest or
title in the property of the Financial
Establishment of the person to whom the notice
is issued under sub-section (i), calling upon all
such persons to appear on the same date as that
specified in the notice and make objection if
they so desire to the attachment of the property
or any portion thereof, on the ground that they
have interest in such property of portion thereof.
(3) Any person claiming an interest in the property
attached or any portion thereof may,
notwithstanding that no notice has been served
upon him under this section, make an objection
an order is passed under sub-section (4) or sub-
section (6).
36
(4) The Designated Court shall, if no cause is shown
and no objective is received under sub-section
(3), forthwith pass an order making the order of
attachment absolute, and isuue any direction as
may be necessary for realization of the assets
attached and for the equitable distribution
among the depositors of the money realized
from out of the property attached.
(5) If cause is shown or any objection is made as
aforesaid, the Designated Court shall proceed to
investigate the, same and in so doing, as regards
the examination of the parties and in all other
respect, the Designated Court shall, subject to
the provisions of this Act, follow the summary
procedure as contemplated under order 37 of the
Civil Procedure Code, 1908 and exercise all the
powers of a court in hearing a suit under the said
Code and any person making on objection shall
be required to adduse evidence to show that at
the date of the attachment he had some interest
in the property attached.
(6) After investigation under sub-section (5), the
Designated Court shall pass an order either
making the order of attachment passed under
sub-section (1) of section 4 absolute or varying
it by releasing a portion of the property from
attachment or cancelling the order of
attachment:
37
Provided that the Designated Court shall not
release from attachment any interest, which it is
satisfied that the Financial Establishment or the
person referred to in
sub-section (1) has in the property, unless it is
also satisfied that there will remain under
attachment an amount or property of value not
less than the value that is required for repayment
of the deposits of the Financial Establishment.
(7) Where an application is made by any person
duly authorized or constituted or specified by
any other State Government under similar
enactment empowering him to exercise control
over any money or the property attached by that
Government, the Designated Court shall
exercise all its powers as if application is made
under this Act and pass appropriate orders or
directions on such application.
9. Powers of the Designated Court regarding realization or
assets and payment ot depositors:
(1) The Designated Court shall have all the powers
for giving effect to the provisions of this Act.
(2) Without prejudice to the generality of sub
section (1), the Designated Court may-
(a) give any direction to the Competent
Authority as if deems fit, for effective
implementation of the provisions of this
Act;
(b) approve the statement of dues of the
financial establishment due from various
debtors, assessment of the value of the
assets of the financial establishment,
38
finalise the list of the depositors and their
respective dues.
(c) direct Competent Authority to take
possession of any assets belonging to or in
the control of the financial establishment
and sell, transfer or realize the attached
assets either public auction or by private
sale as he deems fit depending upon the
nature of assests and credit the sale
proceed's thereof to the bank accounts:
(d) approve the necessary expenditure to be
incurred by the Competent Authority for
taking possession and realization of the
assets of financial establishment;
(e) order for payment to the depositors by the
Competent Authority or order for
proportionate payment to the depositors in
the event of the money so realized is not
sufficient to meet the entire deposit
liability; and
(f) pass any order which the Designated
Court deems fit for realization of the
assets of the company and repayment to
the depositors of the financial
establishment or on any matter or issue
incidental thereof.
Explanation:
For the purpose of this section, the expression
''financial-establishment'' includes the directors,
39
promoters, managers or member of said
establishment or any other person whose
property or assests have been attached under
section 4.
10. Attachment of property of malafide transferees:
(1) Where the assets available for attaExcerpt shown. Open the full act in Lexace.