Lawgist45NADeposits not to be solicited by unauthorised person
1[45NA. Deposits not to be solicited by unauthorised person.--No person shall solicit on behalf of any non-banking institution either by publishing or causing to be published any prospectus or advertisement or in any other manner deposits of money from the public unless
(a) he has been authorised in writing by the said non-banking institution to do so and specifies the name of the institution which has so authorised him, and
(b) the prospectus or advertisement complies with any order made by the Bank under section 45J and with any other provision of law for the time being in force, applicable to the publication of such prospectus or advertisement.]
Download our fully-offline, High speed android app.- Click here
1. Ins. by s. 21, ibid. (w.e.f. 13-12-1974).
- 45H Chapter IIIB not to apply in certain cases
- 45-I Definitions
- 45-IA Requirement of registration and net owned fund
- 45-IB Maintenance of percentage of assets
- 45-IC Reserve fund
- 45-ID Power of Bank to remove directors from office
- 45-IE Supersession of Board of directors of non-banking financial company (Other than Government Company)
- 45J Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money
- 45JA Power of Bank to determine policy and issue directions
- 45K Power of Bank to collect information from non - banking institutions as to deposits and to give directions
- 45L Power of Bank to call for information from financial institutions and to give directions
- 45M Duty of non-banking institutions to furnish statements, etc., required by Bank
- 45MA Powers and duties of auditors
- 45MAA Power to take action against auditors
- 45MB Power of Bank to prohibit acceptance of deposit and alienation of assets
- 45MBA Resolution of non-banking financial company
- 45MC Power of Bank to file winding up petition
- 45N Inspection
- 45NA Deposits not to be solicited by unauthorised person
- 45NAA Power in respect of group companies
- 45NB Disclosure of information
- 45NC Power of Bank to exempt
- 45-O Omitted.
- 45P [Omitted.]
- 45Q Chapter IIIB to override other laws
- 45QA Power of Company Law Board to offer repayment of deposit
- 45QB Nomination by depositors
