Moneylending related offence included under PASA in Gujarat

The Governor of Gujarat has promulgated ‘The Gujarat Prevention of Anti Social Activities (Amendment) Ordinance, 2020’ with effect from 07 September 2020. Clause (ga) inserted in Section 2 defines a “money lending offender” to mean a person, who commits or attempts to commit or abets the commission of offences under Chapter IX of the Gujarat…More

Banning of Unregulated Deposit Schemes

1. The Government of India has promulgated ‘The Banning of Unregulated Deposit Schemes Act, 2019’ (21 of 2019) and it has commenced from 21 February 2019. Further, the Department of Financial Services, Ministry of Finance, Government of India, has notified ‘The Banning of Unregulated Deposits Schemes Rules, 2020’ with effect from 12 February, 2020. 2.1…More

Cryptocurrencies : Who will regulate RBI or SEBI?

The Finance Minister Shri Arun Jaitley stated in his India Union Budget Speech on 1 February 2018 that, “The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. “. Any attempt to regulate…More