Section 7, Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000 [S2K-MMC]
As at 7 September 2026. In force from 24 September 2000.
7. Maintenance of records and furnishing of returns.—(1) Every borrower shall maintain such records and registers relating to the borrowing of money as may be prescribed and shall preserve them for a period of five years. (2) Every borrower shall furnish to the Debts Recovery Tribunal a return in Form B within seven days from the end of every financial year, and such other information as the Debts Recovery Tribunal may, by order in writing, require.
Defined terms in this text (2)
borrower: Section 2, Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000 [S2KMFZ] (In this Act, unless the context otherwise requires,—): "borrower" means any person who has been granted financial assistance by any bank or financial institution or who has given any guarantee or created any mortgage or pledge as security for the financial assistance granted
borrower: 25 more definitions.
prescribed: Section 2, Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000 [S2KMFZ] (In this Act, unless the context otherwise requires,—): "prescribed" means prescribed by rules made under this Act
prescribed: 996 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Section 17, Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000 [S2K-MYR], 24 September 2000, Band A. "section 7".
Not held (0)
none
Duties published under this section (1)
D12-QP3. Every borrower: Maintain records and registers of the borrowing of money; preserve for five years; furnish the annual return in Form B; seven days from the end of every financial year; Form B. Published by Finance Department, Government of Maharashtra (synthetic record).