The Banning of Unregulated Deposits Ordinance, 2019 – for investor protection.

Day by day news are coming out about the vanishing of chit funds, ponzi or pyramid scheme companies, un authorised co-operated societies etc with crores of public money. Government of India came out with an ordinance to prohibit illicit deposit schemes that cheats innocent investors from institutions which run unregulated deposit schemes. This ordinance was…