Saturday, July 11, 2026
Latest:
2026BankingLatestLegal

MPID Act – Amendment to provide Pre-deposit of 50% to entertain Appeal

legaldeli

Section 11 of the said Act provides for appeal against the order of the Designated Court. It is observed that sometimes appeals against the orders passed by the Designated Court are filed with a view to delay in recovery of deposit from Financial Establishments. To curb such practice of filing appeals to delay recovery of deposit, the Government considers it expedient to provide that no appeal shall be entertained unless the Financial Establishments deposit fifty per cent. of amount of its liability with the Competent Authority. Therefore, it is proposed to amend said section 11 suitably.

HB 673 L.A. Bill Eng. .indd

You May Also Like

Unsigned Contract – SC affirms Arbitration via conduct of parties

legaldeli

SC – Landowners not jointly liable with the Developer for construction delay or possession or deficiency in service

legaldeli

Section 13(2) of Slum Act – Termination of Developer after 31 years

legaldeli

Leave a Reply

Your email address will not be published. Required fields are marked *

I HAVE READ THE DISCLAIMER AND AGREE TO IT.

User Acknowledgement

By proceeding further and clicking on the "AGREE" button herein below, I acknowledge that I of my own accord wish to know more about LegalDeli for my own information and use. I further acknowledge that there has been no solicitation, invitation or inducement of any sort whatsoever from LegalDeli or any of its members to create an Attorney-Client relationship through this knowledge site. I further acknowledge having read and understood the Disclaimer below.

Disclaimer
About: This knowledge-site (www.LegalDeli.in) is owned and operated by LegalDeli (“LD”), and is a resource for your informational and educational purposes only.

No Warranty: LD does not warrant that any content or information contained on this knowledge-site is accurate, correct, complete or up-to-date, and hereby disclaims any and all liability to any person for any actual or threatened loss or damage caused by errors or omissions, whether such errors or omissions result from negligence, accident or otherwise. LD assumes no liability for the interpretation and/or use of the content and/or information contained on this knowledge-site, nor does it offer any warranty of any kind, either expressed or implied in relation to such content or information.

Third-Party Links: LD does not intend that links / URLs contained on this knowledge-site re-directing users to third party websites be considered as referrals to, endorsements of, or affiliations with any such third party website operators. LD is not responsible for, and makes no representations or warranties, express or implied, about the content or information contained on such third party websites to which links may be provided on this knowledge-site.

No Legal Advice: By clicking ‘I agree’ and proceeding further, you acknowledge, represent and undertake that you on your own accord wish to know more about LD, its capabilities and research content and information contained on the knowledge-site, for your own knowledge and personal use. The content and information contained on this knowledge-site should not be construed as nor relied upon as legal advice. You as a reader or recipient of content or information contained in this knowledge-site should not act, nor refrain from acting, based upon any or all of such content or information, but should always seek the advice of competent legal counsel licensed to practice the relevant law in the appropriate jurisdiction.

No Attorney-Client Relationship: This knowledge-site is not intended to be and you should not consider the content or information contained therein to be an advertisement, solicitation, inducement or invitation for an Attorney-Client relationship. Transmission, receipt or use of this knowledge-site, including content and information contained therein, does not constitute nor create an Attorney-Client relationship between LD and you.

I Agree