SR U IRTERYT 77, 04 TR, 2016 S0 " pursuance of the provisions of clause (3) of Article 348 of the Constitution, the Governor is pleased to order the publication of the followi ificati .
ing notification no, 7 an.vi.ka. ni.-6- - (bi)128(75)/2002, dated October 04,2016 : : ’ T i anG 7 No. 702 san.vi.ka. ni.-6’2016-(bi)128(75)/2602 Lucknow - dated, October 04,2016 THE UTTAR PRADESH PROTECTION OF INTERESTS OF DEPOSITORS IN FINANCIAL ESTABLISHMENTS RULES In exercise of the powers conferred by section 17 of the Uttar Pradesh Protection of Interests of Depositors in Financial Establishments Act, 2016 (U.P. Act no. ‘16 ol 2016), the Governor is plcased o make the following rules, with a view to safeguarding the interest of depositors in Financial Establishmerits:
VI-SImr( ti_tlc, and commencement: (1) These rules may be called the Uttar Pradesh Protection of Interest of Depositors in Financial Establishments Rules, 2016.
(2) They shall come into force with effect from the date of their publication in the Gazette.
2-Definitions: (1) In these rules, unless the context otherwise requires.—
(a) "Act" means the Uttar Pradesh Protcction of Interest of Depositors In Financial Establishment Act, 2016.
(b) "_Direcfor General," means the Director General, Institutional Finance Uttar Pradesh appointed by the Government. ) (¢) "Collector" means the Collector of a district and includes Additional District Collector (Finance/Revenue).
(d) "Form " means a form appended to these rules.
(e) "Government' means the State Government of Uttar Pradesh.
(f) "Superintendent of Police” .means the Superintendent of Police of a district appointed by the Government.
- *(2) Words and expressions used but not defined in these rules shall have the meanings respectively assigned to them in the Act.
3—Complaints: (1) Any complaint under sub-section (3) of section 4 of the Act shall be written on plain paper with such details as the conmldinnnl may consider necessary along with his/her name and address and send it (o the Collector of the district. On receipt of the complain the Collector shall forward it to the Director General who functions on behalf of the Government immediately with his comments. The complainant may make complaint electronically on the portal designed and established for this purpose. The complaint made through the portal shall be available to the Director Ggneral and the Collector of the concerned district.
(2) The complaint submitted to the Collector under sub rule (1) shall be recorded in the register maintained in Form IV. A summary of the total complaints received and sent.shall be submitted .by the Collector to the Director General every six Month on 31% March & 30" September of each calendar year. In case tl_lc complaints are recorded electronically on the portal no such register shall be maintained as portal by itself shall generate required reports.
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4. Issuc of Ad-interim Order of attachment: The order of attachment under clause (b) of sub-section (1) of scction 4 of the Act shall be issued by the Principal Secretary/Secretary-In charge of Institutional Finance with the approval of Minister-In charge of the department after recording reasons in writing and be published in. the Gazette. Such order shall be forwarded to the Competent Authority along with relevant records. The Competent Authority shall prepare and maintain detail of accounts or dgscriptions of all the money and propertics atlached to and may seek necessary lance of police officer for the purposc of taking possession of the attached property.
. Examination of complainant and witness cte: (1) Upon réceipt of the order of the P nnupul Seeretary/Seeretary/In charge of the Institutional Finance Department undcr rule 4, the Competent Authority shall examine the complainant and witnesses, if any. Such examination proceeding shall be recorded.
(2) The Competent Authority il he considers necessary may cxamine any person or office bearer or employece of the Financial Establishment who, in his opinion will be able to give any information about the Financial Establishment in respect of which ad-interim order of attachment has been made by the Principal Secrctary/Secretary, In charge of the Institutional Finance Department under section 4 of the Act.
' 6. Attachment of properties of malafide transferces: Where the assets available for:
attachment of a Financial Establishment or other person referred’ to in section 4 of the Act, are found to be less than the amount or value which such Financial Establishment is required to repay to the depositors, the Competent Authority with due diligence shall compute the shortfall. and investigate/the possible diversion ‘of funds. If the conclusions with adequate evidence provide reasons to believe that there is possibility of malafide transfer of funds, the Competent Authority shall by an applieation, affidavit or otherwise inform 1he Designated Court 1cqueitm§, it to attach such property.
7. Power of Competent Authorny to require mformatmn. (1) The Competent Authority shall have the power to require any information about the Financial Establishment or its office bearers including the Promoter, Director, Partner, Manager, Member of its office or any other person to furnish such information as may be required and such Financial Establishment or Officer or Authority of the Government or Local Authority or person shall be bound to furnish such information to the (,()mpc,lc.m Authority.
(2) The (,umpc.lcnl Authority may quiliI‘C any officer-in-charge of a Police Station for inquiring the Financial Establishment or Promoter, Director, Officers, Servants or Members of such Financial Establishment and such officer-in-charge shall be responsible to take action.
8. Maintenance of the record of money and property attached and disposal thercof:
(1) Where any attached property vested in the Cumpqlcni Authority under section 4 of the Act, the Competent Authority may subject to speedy and natural decay or il it is otherwise expedient so to do. sell such property with the due permission ol the Designated Court by public auction or otherwise and credit the sale proceeds. inan account opened in a Scheduled Bank for the purpose.
(2) The Competent Authority shall maintain the records of all the income received, sale proceeds received on sale ol property so attached by the orders of the Designated Court under subsection (4) of section & of the Act or sale of property under sub-rule (1) and expenditure incurred lor the property received, managed and disposcd of, and furnish the same to the Designated Court, from time to time. :
SR F4 IRARYT 97, 04 SR, 2016 £0 9
9. Power .of Competent Authority with respect to an absconding person: Where the Competent Authority is setisfied or has reason to believe that a person in respect of whom an action is contemplated under the Act. has absconding or is likely to abscond or is concealing himself, the Competent Authority shall immediately make such report in writing to the Designated Court.
10. Registration and filing of report and return by the Financial Establishment: [¢)] Every Financial Establishment carrying on its business in the State of Uttar Pradesh will get istered with Director General by submitting the return in Form 1 The Financial Establishment shall send simultancously a copy of the return to the Collector and the Superintendent of Police in whose jurisdiction the Financial Establishment commenced or carried its business within seven days [rom the date -of start of their business in the State of Uttar Pradesh and such-:Financial I:stablishments as have been carrying on its business prior to the commencement of these rules shall get registered in Form 1, within seven days from the date of commencement of these rules. Care shall be taken so as to specifically include all real estate related businesses/builders where in mongy/monetary consideration is taken from the buyers/investors. Such real estate businesses/builders shall submit information with regard to their activitics in the State of Uttar Pradesh. The Director General shall maintain the record of all registered Financial Estabfishments in Form-IIT appended to these rules. ; . ; !
(2) 1t shall be the, duty of every Financial Establishment to report to the Director General. the Collector and Superintendent of Police, in case any change in respect .of any particulars furnished in Form-1, within seven days after the change has taken place. 1
(3) Every Financial Establishment shall furnish within one month of the expiry of-gach quarter of a Financial yéar, a return in Form-II showing particulars in respcet of its business” including its financial position, the area of its investments and the location of investments of moneys made by it within and outside the State of Uttar Pradesh for cach quarter of the financial vear to Director General.’ (ZE: B
(4) Whoever fails to submit report required under or fails to furnish return under subrule (3) shall be punishable with fine which may extend to Rupees fifty thousand. The -Director General shall affer giving a notice of 15 days may impose the said fine on concerned Financial Establishment.
(5) The Director General, shall be empowered to enquire into the business and financial position. details of investment and other particulars of Financial Establishments and ensure that appropriate action is taken against unreported or clandestine activities of Fimmciz.d Establishments which are brought to light. For this purpose Director Gencral may constitute a team of official/officials for enquiry of defaulting Financial Establishment headed by an inspecting oihc‘cn Collector and Superintendent’ of Police of the concerned district shull_pro_\'ulc necessary pol}c,c force including (f()‘s/ln.spcc(ors/sub-lnspccl(u's of the concerned jurisdiction in the district in which Financial Izstablishment is carrying on its business. ;
(6) While the Dircctor General visit any district for 011lmujxncn! purposes ofl.hc :L\cl, t]}c Collector and Senior Superintendent of l‘u!icu/Sl:pcl'intqmlcnl of .l’ulxca" ‘ol the district \\A'xll accompany and assist him. The Dircetor General may convene a meeting of Collectors and Scnmr Superintendent of Police/Superintendent of Police whenever deemed necessary - wherein the presence of these officials shall be mandatory. 5 1 C(u'np'clcnt Authority to assist the Special Public Prosecutor: The Compelent istance to the Special Public Prosccutor in conducting the cases in Authority shall rendet such a the Designated Court as may be required. )
12. Establishment and maintenance of a web base ["urtul: 'l'hz{ Dircctor Gfancral sl?all maintain a web i)asc portal which shall be used to file complaints and display such information “about Financial Establishments as may be deemed necessary.
13 LR Te7e-2 10 . eI} FE SRATHIRYT O, 04 3T, 2016 20 Form-I |See sub-rule (1) of ryle-10] ! . ) Report 0ffinancial Establishment or commencing its Business in the State of Utlar Pradesh.
To, -
1. Director General, Institutional Finance, 16-Vidhan Sabha Marg, Lucknow.
2. The Collector, g .(District)
3." Superintendent of Police, ............. (District)
1. Neme of the Financial Establishment :
2. Namec and address of Registering Authority :
3. Registration/Incorporation,number with date :
4. State in detail about the authority to carry on such business :
5. Name of the State in which the Financial Establishment is registered :
‘6. . Full address: :
i) -Registcrcd Office, Pin No., Phone No.
(ii) Main Branch Office (if any):
+7. Name address (present & permanent) and PAN number of every person* responsible for management of affairs of the Financial Establishment : R **Number of Branches/Offices :
9. Name (s) of the Financial Establishment's Banker (s) Name and addresses :
10. Name, address (present & peifmanent) and designation of the person looking after financial matters of the Financial Establishment :
Certified that the particulars/information furnished in the report have been verified and found to be correct andcomplete in all respests.
Date : Signature of Manager/Managing vPlacc .
Director/authorized official Name :
Designation :
e Il more than two persons are:responsible for the management affairs of the Financital Establishment they may give a list showing name and address appending to this ft a s form.
e A list Showing the names and address of the place (s) where th Financial Establishment is/are situated should be enclosed. % Prench Offics (5) of the SR U IR ToTe, 04 JFTIR, 2016 20 e N : Form-I1 [See sub-rule (3) of rule-10] QUARTERLY RETURN Financial year Quarter ending Name of the Financial Name and address of Registering Authority :
*Registration/Incorporation number with date :
PAN numbers of the Financial Establishment and MD/President/ Managing Partner/CEO/Proprietor Name and. addresses of Dircctors/Partners/Proprictor/ President/Managing Partner/CEO/Proprictor Name and addresses (Present & Pcrmanénl) of | MD/President/ Managing Partner/CEO/Proprictor Nature of business y Details of banks name, account.numbers and address of the Bankers (s) * Bank-wise and Acgount-wise balance as on the end of the’ quarter :
s Details of movable/immovable .assets of the Financial ‘Establishment as on the end of the quarter ;
Copies of latesy Audited Balance sheet "< Amount received during the quarter from the Investors/Depositors :
Names and addresses of investors from whom the amount was collected/received :
Amount received from other.sources including loans during the quarter :
Amount received from other sources including loans during the quarter : - Details of such utilization/investment/spent :
Area and location of such investment within and outside state :
Details df assets created/acquired during the quarter :
Details of paymeits towards return on deposited amount.
such as interest, dividend or any other services :
Details of amount refunded including maturity amount to the investors/depositors during lh'e quarter : ‘ Amount payable to the depositors at end of the quarter : .
Details of properties such.as land/plols or [lats !!unflcd over or other services rendered’ to the investors/depositors during the quarter ;- * : ] [ o b ails g vable/immovable assels i ding bank Elclldilci:s 010[' ml())ifcclors/Mmmging Directors/CEO/Partner/ alances v s D Proprictor as on the end of the quarter .
By Order Director General, Institutional Finance & Special Secretary to Government.
[No.]
of the Governor SeR TR AR TTUiE, 04 JMdedR, 2016 EQ Form-III [See sub-rule (1) of rule-10] Register of details to be maintained at DG Office level of Financial Establishm in State of Uttar Pradesh. ) ' 12 ents Functional ~ Name of the District : :
Particulars of the Financial Establishments:.
+ 1 Name of the Financial Establishment :
Narne and address of Registering Authority :
(] 3 Registration/Incorporation number with date :
4 State in detail about the authority to carry on such business :
5 . Name of the state in which the Financial Establishment is ) registered : 2 ' 6 Full addtess (O] Registered Office, Pin No. Phone No.
(ii) Main Branch Office (if any):
7 ‘Name, address (present & permanent) and PAN number of _cvery person* responsible for management of affairs of the Financial Establishment : o #xNumber of Branches/Offices :, .9 Name (s) of the Financial Establishment's Banker (s) Name " and addresses : PR i 10 Name address (})rcscnl & permanent) and designation of the person Jooking after financial matters “of the Financial Establishment :
4 Fo rm-:IV -[See rule 3(2)] Name of District . SLNo. ~ -Dateof Namcand Name and Comments Date of Remarks Complaint ~ address of address or of the dispatch to received the Financial Collector DG office complainant Establishments . By 01'der.:
DR. ANOOP CHANDRA PANDEY, Principal Secretary.