Section 58, Banning of Unregulated Deposit Schemes Act, 2019 [S29-9XB]
As at 7 September 2026. In force from 4 June 2019.
58. Appeal.—(1) Any person aggrieved by an order of the Reserve Bank under this Act may, within seven days from the date on which the order is communicated to him, prefer an appeal to the Debts Recovery Tribunal in such form and accompanied by such fee as may be prescribed. (2) The appellate authority may, after giving the appellant an opportunity of being heard, confirm, modify or set aside the order appealed against. (3) No appeal shall lie under this section against an order made with the consent of the parties.
Defined terms in this text (1)
Reserve Bank: Schedule 2, Banning of Unregulated Deposit Schemes Act, 2019 [S2985T] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Schedule 61, Banning of Unregulated Deposit Schemes Act, 2019 [S29-A0R], 4 June 2019, Band A. "section 58".
Not held (0)
none
Duties published under this section (0)
none