BANNING OF UNREGULATED DEPOSIT SCHEME #001

सावधान आ गया है
BANNING OF
UNREGULATED
DEPOSIT SCHEME
ORDINANCE
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BANNING OF UNREGULATED DEPOSIT SCHEME #002
21.02.2019 BANNING
के बाद OF
UNREGULATED
RELATIVES DEPOSIT
से ले सकते है SCHEME
LOAN या नह ीं ORDINANCE
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BANNING OF UNREGULATED DEPOSIT SCHEME #003

21.02.2019 BANNING
के बाद OF
UNREGULATED
ले सकते है
DEPOSIT
NON - RELATIVES
SCHEME
से LOAN ORDINANCE
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 THE
BANNING
OF
UNREGULATED
DEPOSIT
SCHEMES
ORDINANCE
2019
UNREGULATED DEPOSIT SCHEME - SECTION 2(17)

Deposits

Unregulated
Deposit
Depositor Scheme Deposit Taker
 DEPOSITS - SECTION 2(4)

Deposits

Unregulated
Deposit
Depositor Scheme Deposit Taker
 DEPOSITOR - SECTION 2(5)

Deposits

Unregulated
Deposit
Depositor Scheme Deposit Taker
DEPOSIT TAKER - SECTION 2(6)
 DEPOSITS - SECTION 2(4)

Amounts received by an individual by way of loan from his relatives or

amounts received by any firm by way of loan from the relatives of any of
its partners.
Deposits

Unregulated
Deposit
Mr. X - Depositor - Relative Scheme Mr. Y - Deposit Taker
 DEPOSITS - SECTION 2(4)

Amounts received by an individual by way of loan from his relatives or

amounts received by any firm by way of loan from the relatives of any of
its partners.
Deposits

Unregulated
Deposit
Mr. X - Depositor - Relative Scheme Mr. Y - Deposit Taker
 DEPOSITS - SECTION 2(4)

Amounts received by an individual by way of loan from his relatives or

amounts received by any firm by way of loan from the relatives of any of
its partners.
Deposits

Unregulated
Deposit
Mr. X - Depositor – Non -Relative Scheme Mr. Y - Deposit Taker
 RELATIVE
The expression “relative” shall have the same meaning as assigned to it in the Companies
Act, 2013.
Section 2(77) of the Companies Act 2013:
‘Relative” with reference to any person, means anyone who is related to another, if-
(i) They are member of Hindu Undivided Family (HUF);
(ii) They are husband and wife; or
(iii) One person is related to the other in such manner as may be prescribed.

Rule 4 of the Companies (Specification of Definitions Details) Rules 2014:

A person shall be deemed to be the relative of another, if he or she is related to another in the following manner, namely:-
1. Father : Provided that the term ‘Father’ includes step-father.
2. Mother : Provided that the term ‘Mother’ includes step-mother.
3. Son: provided that the term ‘Son’ includes step-son.
4. Son’s wife.
5. Daughter.
6. Daughter’s Husband
7. Brother: Provided that the term ‘Brother’ includes step-brother.
8. Sister: Provided that the term ‘Sister’ includes step-sister.
 UNREGULATED DEPOSIT SCHEME - SECTION 2(17)

Deposits

Unregulated
Deposit
Mr. X - Depositor – Non - Relative Scheme Mr. Y - Deposit Taker
 DEPOSITS - SECTION 2(4)
Deposit does not includes :
1. Loan received from a scheduled bank or a co-operative bank, Banking Company.
2. Loan received from public financial institutions or NBFCs.
3. Amount received from Govt.
4. Amount received from Foreign Govts., International Banks or institutions, foreign
bodies corporates, foreign citizens subject to the provisions of FEMA, 1999

Unregulated
Deposit
Depositor Scheme Deposit Taker
 DEPOSITS - SECTION 2(4)
Deposit does not includes :
5. Capital received by a partnership firm or limited liability partnership firm.
6. Amounts received by an individual by way of loan from his relatives or amounts
received by any firm by way of loan from the relatives of any of its partners.
7. Amount received as credit by a buyer from a seller on the sale of any property
(Whether moveable or immoveable)
8. Amounts received by an asset re-construction company which is registered with RBI.

Unregulated
Deposit
Depositor Scheme Deposit Taker
 DEPOSITS - SECTION 2(4)
Deposit does not includes :
9. Any deposit made under section 34 or an amount accepted by a political party.
10. Any periodic payments made by the members of self-help group operating within
such ceiling as may be prescribed by the State or Union Territory Govt.
11. Any other amount collected for the purpose and within ceiling as may be prescribed
by the State Govt.

Unregulated
Deposit
Depositor Scheme Deposit Taker
 DEPOSITS - SECTION 2(4)
Deposit does not includes :
9. Any deposit made under section 34 or an amount accepted by a political party.
10. Any periodic payments made by the members of self-help group operating within
such ceiling as may be prescribed by the State or Union Territory Govt.
11. Any other amount collected for the purpose and within ceiling as may be prescribed
by the State Govt.

Unregulated
Deposit
Depositor Scheme Deposit Taker
 DEPOSITS - SECTION 2(4)
Deposit does not includes :
12. An amount received in the course of, or for the purpose of, business, and bearing a
genuine connection to such business including :

Unregulated
Deposit
Depositor Scheme Deposit Taker
 REGULATED DEPOSIT SCHEME – First Schedule

Regular Deposit Schemes regulated by :

1. SEBI
2. RBI
3. IRDAI
4. State Govt. or Union Territory Govt.
5. National Housing Bank
6. Pension Fund Regulatory and Development Authority
7. EPF Organization
8. MCA
9. Govt. of India
 ALL
ABOUT
TAXES
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