According to a press release, the ‘Unregulated Deposit Schemes Ordinance, 2019’ is expected to immediately tackle the menace of illicit deposit taking activities in the country launched by rapacious operators, which at present are exploiting regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard-earned savings, by altogether banning unregulated deposit taking schemes, and having adequate provisions for punishment and disgorgement / repayment of deposits in cases where such schemes nonetheless manage to raise deposits illegally.
The Ordinance has very wide implications and requires to be studied carefully by all professionals.
.@arunjaitley Cabinet Re-Issues Triple Talaq Ordinance
➡️Okays Ordinance On Company Law Amendment Bill
➡️Ordinance Banning Unregulated Deposit Schemes
➡️Approves 3% Dearness Allowance For Central Govt Employees pic.twitter.com/d1Y5yUmpt5
— BTVI Live (@BTVI) February 19, 2019
आम जनता की मेहनत की कमाई को अधिक ब्याज दर आदि गलत प्रलोभन देकर धोखे से पैसा जमा कराने वालो के खिलाफ Banning of Unregulated Deposit Schemes अध्यादेश, 2019 जारी | Unregulated deposit लेने वालो के खिलाफ जेल सहित सख़्त सज़ा का प्रावधान| @PMOIndia @FinMinIndia @PIB_India pic.twitter.com/JybbNd63bn
— Rajeev kumar (@rajeevkumr) February 22, 2019