Skip to contentSkip to navigation

Tough Act to deal with ponzi scam

Beware chit fund companies operating in Assam. A set of tough law is on the anvil to deal with these elements. Parliamentary affairs minister Nilomoni Sen Deka introduced the Assam Protection of Interests of Depositors (in Financial Establishments) (Amendment) Bill, 2014 in the assembly on Monday. The Bill if passed would be very tough and nobody would get anticipatory bail under this Act.

According to the Bill, Notwithstanding anything contained in section 438 of the Code of Criminal Procedure, 1973, no Court shall grant anticipatory bail to any person apprehending arrest in connection with an offence under this Act.

The Bill also proposed to compound offences punishable under the Act "on payment of the entire amount due to the depositors with or without interest".

 

Author info

AT News's picture

Assam Times Staff
Tags: 

Add new comment

Republish

Republish this content

More Stories

A River, A Man: The State Responds to Dr GD Agarwal's fast to save Ganga

30 Jul 2008 - 2:40pm | editor
In a response, the likes of which we have not seen in the last few decades, both the Government of Uttarakhand and the Government of India responded to 76 years old Dr. G. D. Agarwal's fast-unto-...

Talk with Kyindiah likely to go in vain

18 Dec 2007 - 5:04am | editor
The government bid to pacify the six striking communities for ST status is likely to go in vain as they are all set to boycott the meeting with Kyndiah slated for Tuesday in the capital.All the six...

Rhino killings in KNP: forest department submitted report to CBI

17 Jul 2008 - 4:32pm | Ritupallab Saikia
The incidents of rhino killings in Kaziranga National Park, which have shaken the nation, has now been investigated by the country’s supreme investigative agency CBI. It is important to mention...