9911796707
TMI BlogDefinitionX X X X Extracts X X X X X X X X Extracts X X X X ..... appropriate Government under section 7; (4) deposit means an amount of money received by way of an advance or loan or in any other form, by any deposit taker with a promise to return whether after a specified period or otherwise, either in cash or in kind or in the form of a specified service, with or without any benefit in the form of interest, bonus, profit or in any other form, but does not include- (a) amounts received as loan from a scheduled bank or a co-operative bank or any other banking company as defined in section 5 of the Banking Regulation Act, 1949 (10 of 1949); (b) amounts received as loan or financial assistance from the Public Financial Institutions notified by the Central Government in consultation with the Rese ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bank of India under section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (i) any deposit made under section 34 or an amount accepted by a political party under section 29B of the Representation of People Act, 1951 (43 of 1951); (j) any periodic payment made by the members of the self-help groups operating within such ceilings as may be prescribed by the State Government or Union territory Government; (k) any other amount collected for such purpose and within such ceilings as may be prescribed by the State Government; (l) an amount received in the course of, or for the purpose of, business and bearing a genuine connection to such business including- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reserve Bank of India Act, 1934 (2 of 1934), the expression deposit shall have the same meaning as assigned to it in clause (bb) of the section 45-I of the said Act; (iii) the expressions partner and firm shall have the same meanings respectively assigned to them under the Indian Partnership Act, 1932 (9 of 1932); (iv) the expression partner in respect of a limited liability partnership shall have the same meaning as assigned to it in clause (q) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009); (v) the expression relative shall have the same meaning as assigned to it in the Companies Act, 2013 (18 of 2013); (5) depositor means any person who makes a deposit under th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trust; (v) a partnership firm; (vi) a limited liability partnership; (vii) an association of persons; (viii) a co-operative society registered under any law for the time being in force relating to co- operative societies; or (ix) every artificial juridical person, not falling within any of the preceding sub-clauses; (11) prescribed means prescribed by the rules made by the Central Government or, as the case may be, the State Government under this Act; (12) property means any property or assets of every description, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and includes deeds and instruments evidencing title to, or interest in, such property or assets, wherever located; (13) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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