Section 5: Default in repayment of deposit and interests honouring the commitment

The Himachal Pradesh Protection of Interests of Depositors (in Financial Establishments) Act, 1999State Act of Himachal Pradesh · Act 19 of 2000

Notwithstanding anything contained in Chapter II, where any Financial Establishment defaults the return of the deposit or defaults the payment of interest on the deposit, every person responsible for the management of the affairs of the Financial Establishment shall be punished with imprisonment for a term which may extend to ten years and with fine which may extend to one lakh rupees and such Financial Establishment is also liable for fine which may extend to one lakh rupees.

CHAPTER-IV

Where this provision sits

Act	The Himachal Pradesh Protection of Interests of Depositors (in Financial Establishments) Act, 1999
Section	5
Marginal note	Default in repayment of deposit and interests honouring the commitment
Jurisdiction	State of Himachal Pradesh
Status	In force as published by the source

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