Section 59, Banning of Unregulated Deposit Schemes Act, 2019 [S29-9YD]

As at 7 September 2026. In force from 4 June 2019.

In Banning of Unregulated Deposit Schemes Act, 2019 [A11-PAS]. This text from 4 June 2019. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 59, Banning of Unregulated Deposit Schemes Act, 2019 [S29-9YD]. Machine: S29-9YD.

59. Cognizance of offences.—(1) No court shall take cognizance of any offence punishable under this Act except upon a complaint in writing made by the Reserve Bank or by an officer authorised by it in this behalf. (2) No court inferior to that of a Metropolitan Magistrate or a Judicial Magistrate of the first class shall try any offence punishable under this Act.

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.

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