Chhattisgarh Protection of Depositors Interest Rules, 2015
No: 1 Dated: Dec, 18 2015
छत्तीसगढ़ के निक्षेपको के हितों का संरक्षण अधिनियम, 2005
No. F 1-35/2015/Estt./Four.-In exercise of the powers conferred by Section 17 of the Chhattisgarh Protection of Depositors Interest Act, 2005 (No. 24 of 2015), the State Government, hereby, makes the following rules for protection of depositors interest in the State of Chhattisgarh, namely:
RULES
Short title and commencement.- (1) These rules may be called the Chhattisgarh Protection of Depositors Interest Rules, 2015.
(2) They shall come into force from the date of its publication in the Official Gazette.
2. Definitions.- (1) In these rules, unless the context otherwise requires,
(a) "Act" means the Chhattisgarh Protection of Depositors Interest Act, 2005 (No. 24 of 2015);
(b) "Collector" means a person appointed as such under the provisions of the Chhattisgarh Land Revenue Code, 1959 (No. 20 of 1959);
(c) "Revenue Officer" means an officer defined as such in the Chhattisgarh Land Revenue Code, 1959 (No. 20 of 1959);
(d) "Schedule” means the Schedule appended to these rules;
(e) "Section" means a Section of the Act.
(2) Words and expressions used herein and not defined but defined in the Act shall have the meanings respectively assigned to them in the said Act.
3. Manner of intimation of business by financial establishment.- (1) Every financial establishment shall intimate the particulars of its business under Section 6 in Form-I of the Schedule.
(2) The Competent Authority shall enter the details of intimations received in a register maintained in Form-II of the Schedule.
4.Record of complaints.- The Competent Authority shall maintain a record of every complaint received under the Act and shall enter the related details in a register maintained in Form-III of the Schedule.
5. Procedure on receipt of complaint.- (1) On receipt of a complaint from depositors or otherwise, the Competent Authority may initiate such inquiry as he may deem necessary to satisfy himself as to whether or not any financial establishment has fraudulently defaulted:
Provided that in relation to such inquiry, the Competent Authority may communicate a copy of the complaint to the financial establishment, and in case the financial establishment satisfies the Competent Authority that it has repaid such deposit, interest, bonus, profit or dues in any other form or rendered such services in respect of which the complaint was made, the Competent Authority may permit the complainant to withdraw the complaint.
6. Procedure for attachment and sale of property.- (1) The Competent Authority shall keep in custody all money or other property attached, and shall arrange for the safe keeping of any records, books of account, papers and documents found on the premises of attached property.
(2) If the Special Court passes an order making an ad-interim order of attachment issued under Section 7 absolute or issues any direction under the provisions of the Act, the Competent Authority, or any Revenue Officer sub-ordinate to the Collector of the district concerned whom the Competent Authority may authorize in this behalf, shall dispose of the property attached by sale as provided under Order XXI of the Code of Civil Procedure, 1908 (No. 5 of 1908).
(3) The Competent Authority shall maintain a record of all the income received and expenditure incurred in relation to the attachment, management and disposal of money or other property attached, and shall furnish the same to the Special Court as required.
By order and in the name of the Governor of Chhattisgarh,
KAMALPREET SINGH, Special Secretary