finance.csv

,Unnamed: 0,question,answer,source,length
0,0,"What is the name of the regulations made by the Securities and Exchange Board of India in exercise of the powers conferred by section 30 read with clause (g) of sub-section (2) of section 11 and clause (d) and clause (e) of section 12A of the Securities and Exchange Board of India Act, 1992?","SEBI (Prohibition of Insider Trading) Regulations, 2015",1629271161479.pdf,55
1,1,"When do the SEBI (Prohibition of Insider Trading) Regulations, 2015 come into force?",The one hundred and twentieth day from the date of its publication in the Official Gazette,1629271161479.pdf,90
2,2,"What is the definition of a 'compliance officer' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?","A senior officer, designated so and reporting to the board of directors or head of the organization, who is financially literate and is capable of appreciating requirements for legal and regulatory compliance under these regulations",1629271161479.pdf,232
3,3,"What is the meaning of 'connected person' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?","A person who is or has during the six months prior to the concerned act been associated with a company, directly or indirectly, in any capacity including by reason of frequent communication with its officers or by being in any contractual, fiduciary or employment relationship or by being a director, officer or an employee of the company or holds any position including a professional or business relationship between himself and the company whether temporary or permanent, that allows such person, directly or indirectly, access to unpublished price sensitive information or is reasonably expected to allow such access",1629271161479.pdf,620
4,4,"What is the definition of 'generally available information' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?",Information that is accessible to the public on a non-discriminatory basis,1629271161479.pdf,74
5,5,"What is the meaning of 'immediate relative' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?","A spouse of a person, and includes parent, sibling, and child of such person or of the spouse, any of whom is either dependent financially on such person, or consults such person in taking decisions relating to trading in securities",1629271161479.pdf,232
6,6,"Who is an 'insider' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?",Any person who is a connected person or in possession of or having access to unpublished price sensitive information,1629271161479.pdf,116
7,7,"What is the meaning of 'promoter' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?","The meaning assigned to it under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 or any modification thereof",1629271161479.pdf,168
8,8,"What is the meaning of 'promoter group' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?","The meaning assigned to it under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 or any modification thereof",1629271161479.pdf,168
9,9,"What is the meaning of 'proposed to be listed' under the SEBI (Prohibition of Insider Trading) Regulations, 2015?","Securities of an unlisted company that has filed offer documents or other documents with the Board, stock exchange(s) or registrar of companies in connection with the listing",1629271161479.pdf,174
10,10,What is meant by 'specified' in the context of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,Specified means specified by the Board in writing.,1629271161479.pdf,50
11,11,What is included in the definition of 'trading' under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"Trading means and includes subscribing, buying, selling, dealing, or agreeing to subscribe, buy, sell, deal in any securities, and 'trade' shall be construed accordingly.",1629271161479.pdf,170
12,12,What is meant by 'unpublished price sensitive information' under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"Unpublished price sensitive information means any information, relating to a company or its securities, directly or indirectly, that is not generally available which upon becoming generally available, is likely to materially affect the price of the securities.",1629271161479.pdf,260
13,13,What is the obligation on insiders who are in possession of unpublished price sensitive information under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,Insiders who are in possession of unpublished price sensitive information shall handle such information with care and to deal with the information on a need-to-know basis.,1629271161479.pdf,171
14,14,"Under what circumstances can unpublished price sensitive information be communicated, provided, allowed access to or procured under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?","Unpublished price sensitive information can be communicated, provided, allowed access to or procured in connection with a transaction that would entail an obligation to make an open offer under the takeover regulations where the board of directors of the listed company is of informed opinion that sharing of such information is in the best interests of the company.",1629271161479.pdf,366
15,15,What is the responsibility of the board of directors of a listed company under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,The board of directors of a listed company shall make a policy for determination of 'legitimate purposes' as a part of 'Codes of Fair Disclosure and Conduct' formulated under regulation 8.,1629271161479.pdf,188
16,16,Who is considered an insider under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,Any person in receipt of unpublished price sensitive information pursuant to a 'legitimate purpose' shall be considered an 'insider' for purposes of these regulations.,1629271161479.pdf,167
17,17,What is the obligation on parties who receive unpublished price sensitive information under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,Parties who receive unpublished price sensitive information shall execute agreements to contract confidentiality and non-disclosure obligations on the part of such parties and such parties shall keep information so received confidential.,1629271161479.pdf,237
18,18,What is the requirement for maintaining a structured digital database under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,The board of directors or head(s) of the organisation of every person required to handle unpublished price sensitive information shall ensure that a structured digital database is maintained containing the names of such persons or entities as the case may be with whom information is shared under this regulation along with the Permanent Account Number or any other identifier authorized by law where Permanent Account Number is not available.,1629271161479.pdf,443
19,19,What is the purpose of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,The purpose of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations is to prohibit insider trading and to maintain fair and transparent trading practices in the securities market.,1629271161479.pdf,214
20,20,"According to the regulation, what is the duration for which the structured digital database containing unpublished price sensitive information should be preserved?",The board of directors or head(s) of the organisation of every person required to handle unpublished price sensitive information shall ensure that the structured digital database is preserved for a period of not less than eight years after completion of the relevant transactions.,1629271161479.pdf,280
21,21,Can an insider trade in securities when in possession of unpublished price sensitive information?,"No, an insider shall not trade in securities that are listed or proposed to be listed on a stock exchange when in possession of unpublished price sensitive information.",1629271161479.pdf,168
22,22,Under what circumstances can an insider prove his innocence after trading in securities while in possession of unpublished price sensitive information?,"The insider may prove his innocence by demonstrating the circumstances including that the transaction was carried out through the block deal window mechanism between persons who were in possession of the unpublished price sensitive information without being in breach of regulation 3, or that the transaction was undertaken pursuant to the exercise of stock options in respect of which the exercise price was pre-determined in compliance with applicable regulations.",1629271161479.pdf,466
23,23,Can non-individual insiders trade in securities when in possession of unpublished price sensitive information?,"Yes, non-individual insiders can trade in securities when in possession of unpublished price sensitive information if the individuals who were in possession of such information were different from the individuals taking trading decisions and such decision-making individuals were not in possession of such unpublished price sensitive information when they took the decision to trade.",1629271161479.pdf,383
24,24,What is the purpose of a trading plan under the regulation?,"A trading plan is intended to enable insiders to trade in securities in a compliant manner despite being in possession of unpublished price sensitive information. It allows them to plan for trades to be executed in the future, and the possession of unpublished price sensitive information when a trade under a trading plan is actually executed would not prohibit the execution of such trades.",1629271161479.pdf,392
25,25,What are the requirements for a trading plan under the regulation?,A trading plan shall not entail commencement of trading on behalf of the insider earlier than six months from the public disclosure of the plan.,1629271161479.pdf,144
26,26,Who has the onus of establishing that they were not in possession of unpublished price sensitive information in the case of connected persons?,The onus of establishing that they were not in possession of unpublished price sensitive information is on the connected persons themselves.,1629271161479.pdf,140
27,27,Can the Board specify standards and requirements for the purpose of these regulations?,"Yes, the Board may specify such standards and requirements, from time to time, as it may deem necessary for the purpose of these regulations.",1629271161479.pdf,141
28,28,What is the purpose of maintaining a structured digital database containing unpublished price sensitive information?,The purpose of maintaining a structured digital database is to preserve a record of unpublished price sensitive information and to prevent tampering with such information.,1629271161479.pdf,171
29,29,What happens to the database in the event of receipt of any information from the Board regarding any investigation or enforcement proceedings?,"In the event of receipt of any information from the Board regarding any investigation or enforcement proceedings, the relevant information in the structured digital database shall be preserved till the completion of such proceedings.",1629271161479.pdf,233
30,30,What are the conditions that a trading plan must satisfy in order to be approved under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"The trading plan must not entail trading for a period between the twentieth trading day prior to the last day of any financial period for which results are required to be announced by the issuer of the securities and the second trading day after the disclosure of such financial results. It must also entail trading for a period of not less than twelve months, and must not entail overlap of any period for which another trading plan is already in existence.",1629271161479.pdf,458
31,31,What is the purpose of requiring a trading plan to be approved by a compliance officer?,"The purpose is to ensure that the trading plan does not entail trading on the basis of unpublished price-sensitive information, and to prevent insider trading abuses.",1629271161479.pdf,166
32,32,Can an insider deviate from a trading plan that has been approved by a compliance officer?,"No, an insider cannot deviate from a trading plan that has been approved by a compliance officer. The trading plan must be implemented as approved, without any changes.",1629271161479.pdf,168
33,33,What is the requirement for public disclosure of a trading plan?,"Upon approval of the trading plan, the company must notify the plan to the stock exchanges on which the securities are listed.",1629271161479.pdf,126
34,34,What is the purpose of requiring disclosures of trading by insiders?,The purpose is to prevent insider trading abuses and to ensure transparency in the market.,1629271161479.pdf,90
35,35,Who is required to make disclosures of trading under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"Every person who takes trading decisions on behalf of others, including immediate relatives and other persons for whom such person takes trading decisions, is required to make disclosures of trading.",1629271161479.pdf,199
36,36,What is the timeframe for making initial disclosures of holding of securities for key managerial personnel and directors?,Every person on appointment as a key managerial personnel or a director of the company must disclose their holding of securities of the company within seven days of such appointment.,1629271161479.pdf,182
37,37,How long must a company maintain records of disclosures of trading under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,A company must maintain records of disclosures of trading for a minimum period of five years.,1629271161479.pdf,93
38,38,Can a company permit trading in derivatives of securities if it is permitted by law?,"Yes, a company can permit trading in derivatives of securities if it is permitted by law, and must disclose such trading under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations.",1629271161479.pdf,215
39,39,Can a trading plan be initiated by multiple insiders during the same time period?,"No, a trading plan cannot be initiated by multiple insiders during the same time period, as this could potentially lead to insider trading abuses.",1629271161479.pdf,146
40,40,What is the condition for an informant to be eligible for a reward under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"The informant must have provided original and voluntary information to the board, and the board must have collected or recovered monetary sanctions amounting to at least twice the reward amount.",1629271161479.pdf,194
41,41,How is the amount of reward determined under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"The amount of reward is determined by the board, taking into consideration factors specified by the Informant Incentive Committee, and is 10% of the monetary sanctions imposed, subject to a maximum of Rs. 10 crores.",1629271161479.pdf,215
42,42,What is the role of the Office of Informant Protection under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"The Office of Informant Protection is responsible for receiving and registering voluntary information disclosure forms, maintaining confidentiality of informant identity, interacting with informants, and issuing press releases and rewards relating to informants.",1629271161479.pdf,262
43,43,Can an informant claim a reward if they have already reported the matter to their organization as per its internal legal and compliance procedures?,"Yes, an informant may be eligible for a reward whether or not they reported the matter to their organization as per its internal legal and compliance procedures.",1629271161479.pdf,161
44,44,What is the procedure for an informant to claim a reward under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"Informants who are considered tentatively eligible for a reward must submit the Informant Reward Claim Form to the board within the specified period, and provide their identity and other required information before payment of the reward.",1629271161479.pdf,237
45,45,Under what circumstances can the board reject a claim for reward under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"The board can reject a claim for reward if the informant does not submit original information, has acquired the information through a regulatory agency or law enforcement organization, has initiated or has been subject to criminal proceedings, has refused to cooperate with the board, or has made false or fictitious statements.",1629271161479.pdf,328
46,46,Can an informant who is obligated to report information to the board under securities laws be eligible for a reward?,"No, an informant who is obligated to report information to the board under securities laws is not eligible for a reward, unless the board exempts them from this disqualification.",1629271161479.pdf,178
47,47,How is the confidentiality of an informant protected under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"The Office of Informant Protection is responsible for maintaining the confidentiality of informant identity, and the board may take other measures to protect informant confidentiality.",1629271161479.pdf,184
48,48,Can an informant who has already received an interim reward be eligible for a further reward under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"Yes, an informant who has already received an interim reward may be eligible for a further reward, subject to the conditions specified in the regulations.",1629271161479.pdf,154
49,49,What is the purpose of the illustrative table of reward payable under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations?,"The illustrative table provides a guideline for calculating the reward payable to an informant based on the monetary sanctions imposed, and is intended to illustrate the calculation of the reward.",1629271161479.pdf,196
50,50,What is the discretion of the Board in making information available?,"The Board may make information available at its discretion in connection with legal proceedings, as permitted by regulations, or as required or permitted by law.",1629271161479.pdf,161
51,51,Who can the Board share Original Information with?,"The Board may share Original Information with regulatory agencies, self-regulatory organizations, surveillance or investigation wings of recognized stock exchanges or clearing corporations, law enforcement organizations, and public prosecutors in connection with criminal proceedings.",1629271161479.pdf,284
52,52,What is the requirement for sharing information with assurances of confidentiality?,Sharing of information shall be in accordance with such assurances of confidentiality as the Board determines appropriate.,1629271161479.pdf,122
53,53,What is the protection for Informants against retaliation and victimization?,"Every person required to have a Code of Conduct under these regulations shall ensure that such a Code of Conduct provides for suitable protection against any discharge, termination, demotion, suspension, threats, harassment, directly or indirectly, or discrimination against any employee who files a Voluntary Information Disclosure Form.",1629271161479.pdf,338
54,54,Can an Informant approach a competent court or tribunal for relief from retaliation or victimization?,"Yes, an Informant who believes they have been subject to retaliation or victimization by their employer may approach a competent court or tribunal for appropriate relief.",1629271161479.pdf,170
55,55,What is the effect of a term in an agreement that precludes a person from submitting information to the Board?,Any term in an agreement that purports to preclude any person from submitting information to the Board relating to the violation of securities laws is void.,1629271161479.pdf,156
56,56,Can an employer impede an individual from communicating with the Board?,"No person shall by way of any threat or act impede an individual from communicating with the Board, including enforcing or threatening to enforce a confidentiality agreement.",1629271161479.pdf,174
57,57,Does an Informant receive amnesty or immunity for violation of securities laws?,"No, nothing in these regulations shall be deemed to provide any amnesty or immunity to an Informant for violation of securities laws.",1629271161479.pdf,133
58,58,What is the role of the Informant Incentive Committee?,"The Informant Incentive Committee shall give its recommendations to the Board on eligibility of Informant for reward, determination under regulations 7E and 7G, and other issues relating to Informant as the Board may require from time to time.",1629271161479.pdf,243
59,59,What information will the Board upload on its website?,"The Board shall upload on its website the annual report of the Office of Informant Protection, press releases informing the public of intimations issued to Informants and Rewards paid, and Orders issuing Rewards, without disclosing information that could identify the Informant or the information provided by the Informant.",1629271161479.pdf,323
60,60,What is the purpose of the provision related to fair disclosure of events and occurrences that could impact price discovery in the market for a company's securities?,The purpose is to require every company whose securities are listed on stock exchanges to formulate a stated framework and policy for fair disclosure of events and occurrences that could impact price discovery in the market for its securities.,1629271161479.pdf,243
61,61,What is the requirement for a company's code of practices and procedures for fair disclosure of unpublished price sensitive information?,Every such code of practices and procedures for fair disclosure of unpublished price sensitive information and every amendment thereto shall be promptly intimated to the stock exchanges where the securities are listed.,1629271161479.pdf,218
62,62,"Who is responsible for formulating a code of conduct to regulate, monitor, and report trading by designated persons and immediate relatives of designated persons in a listed company?","The board of directors of every listed company shall ensure that the chief executive officer or managing director shall formulate a code of conduct with their approval to regulate, monitor, and report trading by its designated persons and immediate relatives of designated persons.",1629271161479.pdf,281
63,63,What is the purpose of the code of conduct formulated by a listed company or intermediary?,"The purpose is to regulate, monitor, and report trading by designated persons and immediate relatives of designated persons towards achieving compliance with the regulations, adopting the minimum standards set out in Schedule B or Schedule C, without diluting the provisions of the regulations in any manner.",1629271161479.pdf,308
64,64,"Who is required to formulate a code of conduct governing trading in securities by their designated persons, in addition to listed companies and intermediaries?","Persons other than listed companies and intermediaries that are required to handle unpublished price sensitive information, including professional firms such as auditors, accountancy firms, law firms, analysts, insolvency professional entities, consultants, banks, etc.",1629271161479.pdf,269
65,65,What is the role of the compliance officer in administering the code of conduct and monitoring compliance with the regulations?,"The compliance officer is responsible for administering the code of conduct and monitoring compliance with the regulations, and shall be identified and designated by every listed company, intermediary, and other persons formulating a code of conduct.",1629271161479.pdf,250
66,66,How are designated persons to be covered by the code of conduct specified?,"The board of directors or such other analogous authority shall, in consultation with the compliance officer, specify the designated persons to be covered by the code of conduct on the basis of their role and function in the organization and the access that such role and function would provide to unpublished price sensitive information.",1629271161479.pdf,337
67,67,What is the purpose of the explanation provided in the regulations regarding fiduciaries?,"The explanation is intended to clarify that fiduciaries, such as professional firms assisting or advising listed companies, shall be collectively referred to as fiduciaries for the purpose of these regulations.",1629271161479.pdf,210
68,68,"What is the requirement for a listed company or intermediary to formulate a code of conduct to regulate, monitor, and report trading by its designated persons?","Every listed company and intermediary shall formulate a code of conduct to regulate, monitor, and report trading by its designated persons and immediate relatives of designated persons, adopting the minimum standards set out in Schedule B or Schedule C, without diluting the provisions of the regulations in any manner.",1629271161479.pdf,319
69,69,What is the purpose of the amendment to the regulations regarding the formulation of a code of conduct by persons other than listed companies and intermediaries?,The purpose is to mandate persons other than listed companies and intermediaries that are required to handle unpublished price sensitive information to formulate a code of conduct governing trading in securities by their designated persons.,1629271161479.pdf,240
70,70,Who are the employees of material subsidiaries of listed companies that are designated on the basis of their functional role or access to unpublished price sensitive information?,Employees of material subsidiaries of listed companies designated on the basis of their functional role or access to unpublished price sensitive information in the organization by their board of directors.,1629271161479.pdf,205
71,71,"What is the role of the Chief Executive Officer or Managing Director of a listed company, intermediary, or fiduciary in preventing insider trading?","The Chief Executive Officer or Managing Director of a listed company, intermediary, or fiduciary shall put in place adequate and effective systems of internal controls to ensure compliance with the requirements given in these regulations to prevent insider trading.",1629271161479.pdf,265
72,72,What are the internal controls that must be included in the system of internal controls to prevent insider trading?,"The internal controls shall include identifying all employees who have access to unpublished price sensitive information, maintaining confidentiality of unpublished price sensitive information, placing adequate restrictions on communication or procurement of unpublished price sensitive information, maintaining lists of all employees and other persons with whom unpublished price sensitive information is shared, and complying with all other relevant requirements specified under these regulations.",1629271161479.pdf,499
73,73,"What is the role of the board of directors of a listed company, intermediary, or fiduciary in ensuring compliance with the regulations to prevent insider trading?",The board of directors of every listed company and the board of directors or head(s) of the organisation of intermediaries and fiduciaries shall ensure that the Chief Executive Officer or the Managing Director or such other analogous person ensures compliance with regulation 9 and sub-regulations (1) and (2) of this regulation.,1629271161479.pdf,329
74,74,What is the role of the Audit Committee of a listed company in reviewing compliance with the provisions of these regulations?,The Audit Committee of a listed company or other analogous body for intermediary or fiduciary shall review compliance with the provisions of these regulations at least once in a financial year and shall verify that the systems for internal control are adequate and are operating effectively.,1629271161479.pdf,291
75,75,What is the procedure for inquiry in case of leak of unpublished price sensitive information or suspected leak of unpublished price sensitive information?,"Every listed company shall formulate written policies and procedures for inquiry in case of leak of unpublished price sensitive information or suspected leak of unpublished price sensitive information, which shall be approved by board of directors of the company and accordingly initiate appropriate inquiries on becoming aware of leak of unpublished price sensitive information or suspected leak of unpublished price sensitive information.",1629271161479.pdf,440
76,76,What is the role of the whistle-blower policy in preventing insider trading?,The listed company shall have a whistle-blower policy and make employees aware of such policy to enable employees to report instances of leak of unpublished price sensitive information.,1629271161479.pdf,185
77,77,What is the power of the Board to remove difficulties in the interpretation or application of the provisions of these regulations?,The Board shall have the power to issue directions through guidance notes or circulars to remove any difficulties in the interpretation or application of the provisions of these regulations.,1629271161479.pdf,190
78,78,"What is the effect of repeal of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992?","The repeal of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 shall not affect the previous operation of the repealed regulations or anything duly done or suffered thereunder, and any right, privilege, obligation or liability acquired, accrued or incurred under the repealed regulations shall remain unaffected.",1629271161479.pdf,357
79,79,What are the principles of fair disclosure for purposes of code of practices and procedures for fair disclosure of unpublished price sensitive information?,"The principles of fair disclosure include prompt public disclosure of unpublished price sensitive information, uniform and universal dissemination of unpublished price sensitive information, designation of a senior officer as a chief investor relations officer, prompt dissemination of unpublished price sensitive information that gets disclosed selectively, and ensuring that information shared with analysts and research personnel is not unpublished price sensitive information.",1629271161479.pdf,480
80,80,What is the frequency at which the compliance officer shall report to the board of directors?,"The compliance officer shall report to the board of directors at such frequency as may be stipulated by the board of directors, but not less than once in a year.",1629271161479.pdf,161
81,81,How shall unpublished price sensitive information be handled within the organisation?,"All information shall be handled within the organisation on a need-to-know basis and no unpublished price sensitive information shall be communicated to any person except in furtherance of legitimate purposes, performance of duties or discharge of legal obligations.",1629271161479.pdf,266
82,82,Who shall be governed by an internal code of conduct governing dealing in securities?,Designated Persons and immediate relatives of designated persons in the organisation shall be governed by an internal code of conduct governing dealing in securities.,1629271161479.pdf,166
83,83,What is the purpose of a notional trading window?,A notional trading window shall be used as an instrument of monitoring trading by the designated persons.,1629271161479.pdf,105
84,84,When shall the trading window be closed?,The trading window shall be closed when the compliance officer determines that a designated person or class of designated persons can reasonably be expected to have possession of unpublished price sensitive information.,1629271161479.pdf,219
85,85,What is the trading restriction period?,The trading restriction period shall be made applicable from the end of every quarter till 48 hours after the declaration of financial results.,1629271161479.pdf,143
86,86,What transactions are exempt from trading window restrictions?,"Transactions specified in clauses (i) to (iv) and (vi) of the proviso to sub-regulation (1) of regulation 4, pledge of shares for a bonafide purpose, and transactions undertaken in accordance with respective regulations made by the Board are exempt from trading window restrictions.",1629271161479.pdf,282
87,87,What is the role of the compliance officer in relation to pre-clearance of trades?,"The compliance officer shall be entitled to seek declarations to the effect that the applicant for pre-clearance is not in possession of any unpublished price sensitive information, and shall have regard to whether any such declaration is reasonably capable of being rendered inaccurate.",1629271161479.pdf,287
88,88,What is the timeframe within which trades that have been pre-cleared have to be executed?,"The code of conduct shall specify any reasonable timeframe, which in any event shall not be more than seven trading days, within which trades that have been pre-cleared have to be executed by the designated person, failing which fresh pre-clearance would be needed for the trades to be executed.",1629271161479.pdf,295
89,89,Who shall determine the timing for re-opening of the trading window?,The timing for re-opening of the trading window shall be determined by the compliance officer taking into account various factors including the unpublished price sensitive information in question becoming generally available and being capable of assimilation by the market.,1629271161479.pdf,273
90,90,What is the minimum period within which a designated person who is permitted to trade should not execute a contra trade?,Six months,1629271161479.pdf,10
91,91,Who can grant relaxation from strict application of the restriction on contra trades?,The compliance officer,1629271161479.pdf,22
92,92,What happens to the profits from a contra trade executed in violation of the restriction?,The profits shall be liable to be disgorged for remittance to the Board for credit to the Investor Protection and Education Fund administered by the Board under the Act,1629271161479.pdf,168
93,93,"What formats shall the code of conduct stipulate for making applications for pre-clearance, reporting of trades executed, etc.?",Such formats as the board of directors deems necessary,1629271161479.pdf,54
94,94,What sanctions and disciplinary actions may be imposed for contravention of the code of conduct?,"Wage freeze, suspension, recovery, etc.",1629271161479.pdf,39
95,95,What should the listed company required to formulate a code of conduct under sub-regulation (1) of regulation 9 do in case of a violation of these regulations?,Promptly inform the stock exchange(s) where the concerned securities are traded,1629271161479.pdf,79
96,96,What information should designated persons disclose to the company on an annual basis and as and when the information changes?,"Names and Permanent Account Number or any other identifier authorized by law of immediate relatives, persons with whom such designated person(s) shares a material financial relationship, and phone, mobile and cell numbers",1629271161479.pdf,221
97,97,What is the term 'material financial relationship' defined as?,"A relationship in which one person is a recipient of any kind of payment such as by way of a loan or gift from a designated person during the immediately preceding twelve months, equivalent to at least 25% of the annual income of such designated person",1629271161479.pdf,252
98,98,What process should listed entities have for how and when people are brought 'inside' on sensitive transactions?,"A process for how and when people are brought 'inside' on sensitive transactions, individuals should be made aware of the duties and responsibilities attached to the receipt of Inside Information",1629271161479.pdf,195
99,99,What is the role of the compliance officer in reporting to the board of directors or head(s) of the organisation?,The compliance officer shall report to the board of directors or head(s) of the organisation (or committee constituted in this regard) at such frequency as may be stipulated by the board of directors or head(s) of the organisation but not less than once in a year,1629271161479.pdf,263
100,100,What should the compliance officer do before approving any trades?,The compliance officer shall seek declarations to the effect that the applicant for pre-clearance is not in possession of any unpublished price sensitive information.,1629271161479.pdf,166
101,101,Within what timeframe should trades that have been pre-cleared be executed by the designated person?,"The trades that have been pre-cleared have to be executed by the designated person within a reasonable timeframe, which in any event shall not be more than seven trading days.",1629271161479.pdf,175
102,102,"What is the period within which a designated person who is a connected person of the listed company and is permitted to trade in the securities of such listed company, shall not execute a contra trade?","The period within which a designated person who is a connected person of the listed company and is permitted to trade in the securities of such listed company, shall not execute a contra trade, shall not be less than six months.",1629271161479.pdf,228
103,103,"What should the code of conduct stipulate with respect to applications for pre-clearance, reporting of trades executed, and reporting of decisions not to trade after securing pre-clearance?","The code of conduct shall stipulate such formats as the board of directors or head(s) of the organisation deems necessary for making applications for pre-clearance, reporting of trades executed, and reporting of decisions not to trade after securing pre-clearance.",1629271161479.pdf,264
104,104,What sanctions and disciplinary actions may be imposed by the intermediary or fiduciary for the contravention of the code of conduct?,"The code of conduct shall stipulate the sanctions and disciplinary actions, including wage freeze, suspension, recovery, etc., that may be imposed by the intermediary or fiduciary for the contravention of the code of conduct.",1629271161479.pdf,225
105,105,What should the intermediary or fiduciary do if it observes a violation of these regulations?,"The intermediary or fiduciary shall promptly inform the stock exchange(s) where the concerned securities are traded, in such form and such manner as may be specified by the Board from time to time.",1629271161479.pdf,197
106,106,What information should designated persons disclose to the intermediary or fiduciary on an annual basis?,"Designated persons shall disclose name and Permanent Account Number or any other identifier authorized by law of immediate relatives, persons with whom such designated person(s) shares a material financial relationship, and Phone, mobile, and cell numbers which are used by them.",1629271161479.pdf,279
107,107,What is the definition of a material financial relationship?,"A material financial relationship means a relationship in which one person is a recipient of any kind of payment such as by way of a loan or gift from a designated person during the immediately preceding twelve months, equivalent to at least 25% of the designated person's annual income.",1629271161479.pdf,287
108,108,What process should intermediaries and fiduciaries have in place for bringing people 'inside' on sensitive transactions?,"Intermediaries and fiduciaries shall have a process for how and when people are brought ‘inside’ on sensitive transactions, and individuals should be made aware of the duties and responsibilities attached to the receipt of Inside Information.",1629271161479.pdf,242
109,109,What information should be submitted by an informant who voluntarily discloses information to the Board?,"The informant should submit personal information, employment details, and information about the violation, including details of the securities, unpublished price sensitive information, and date of occurrence.",1629271161479.pdf,208
110,110,What details of circumstances or evidence should be provided to support the possession of unpublished price-sensitive information by the alleged violator(s)?,"Please provide self-certified copies of all the relevant documents, including details of circumstances/evidence leading to possession of unpublished price-sensitive information by the alleged violator(s).",1629271161479.pdf,204
111,111,Can an informant expect to receive a reward merely by furnishing information to the Securities and Exchange Board of India?,"No, merely furnishing information by an informant does not confer on them the right to get a reward, and they may not get any reward at all.",1629271161479.pdf,140
112,112,What is the nature of the reward that may be granted to an informant?,"The reward would be an ex-gratia payment, granted at the absolute discretion of the competent authority, subject to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.",1629271161479.pdf,210
113,113,Is an informant required to provide any information that may be relevant in light of the criteria for determining the amount of reward or denial thereof?,"Yes, the informant is required to provide any material information that may be relevant in light of the criteria for determining the amount of reward or denial thereof, including any supporting documents if necessary.",1629271161479.pdf,217
114,114,"Can an informant challenge the decision of the authority in any litigation, appeal, or adjudication?","No, the informant accepts that the decision of the authority shall be acceptable to them and they shall not challenge it in any litigation, appeal, adjudication, etc.",1629271161479.pdf,166
115,115,What is the purpose of the certificate provided by the legal representative of the informant?,"The certificate is to confirm that the informant is the person who signed the original Voluntary Information Disclosure Form, and that the completed and signed claim form is complete and accurate to the best of their knowledge.",1629271161479.pdf,227
116,116,Is an informant required to indemnify the Board in case the information provided is not true or correct?,"Yes, the informant agrees to indemnify the Board in case the information contained in the submission is not true, correct, and complete to the best of their knowledge and belief.",1629271161479.pdf,178
117,117,"Can an informant be subject to action under securities laws or Section 182 of the Indian Penal Code, 1860?","Yes, an informant may be subject to action under securities laws as well as Section 182 of the Indian Penal Code, 1860, and may be ineligible for a reward if they knowingly and wilfully make any false or fraudulent statements or representations.",1629271161479.pdf,245
118,118,"What documents should be annexed to the Voluntary Information Disclosure Form, if not already submitted to the Securities and Exchange Board of India?","Original Form for Voluntary Information Disclosure should be annexed to the claim form, if not already submitted to the Securities and Exchange Board of India.",1629271161479.pdf,159
119,119,What information should be provided by the informant regarding their personal details?,"The informant should provide their last name, first name, title, address, city/state, PIN, telephone number, mobile number, email address, employment details, and permanent account number.",1629271161479.pdf,188
120,120,...,...,1629271161479.pdf,3
121,121,...,...,1629271161479.pdf,3
122,122,"What is the short title, extent, and commencement of the Credit Information Companies (Regulation) Act, 2005?","The Act may be called the Credit Information Companies (Regulation) Act, 2005. It extends to the whole of India and shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.",A2005-30.pdf,231
123,123,What is the definition of a credit information company under the Act?,"A credit information company means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration under sub-section (2) of section 5 of the Credit Information Companies (Regulation) Act, 2005.",A2005-30.pdf,260
124,124,What is the prohibition on commencing or carrying on the business of credit information without obtaining a certificate of registration from the Reserve Bank under the Act?,"Save as otherwise provided in this Act, no company shall commence or carry on the business of credit information without obtaining a certificate of registration from the Reserve Bank under this Act.",A2005-30.pdf,198
125,125,What is the process for making an application for registration to the Reserve Bank under the Act?,Every company which intends to commence the business of credit information shall make an application for registration to the Reserve Bank in such form and manner as may be specified by regulations made under the Act.,A2005-30.pdf,216
127,127,What is the definition of a specified user under the Act?,"A specified user means any credit institution, credit information company being a member under sub-section (3) of section 15, and includes such other person or institution as may be specified by regulations made, from time to time, by the Reserve Bank for the purpose of obtaining credit information from a credit information company.",A2005-30.pdf,334
128,128,What is the definition of credit scoring under the Act?,Credit scoring means a system which enables a credit institution to assess the credit worthiness and capacity of a borrower to repay his loan and advances and discharge his other obligations in respect of credit facility availed or to be availed by him.,A2005-30.pdf,253
129,129,What is the power of the Reserve Bank to determine policy under the Act?,"The Reserve Bank may, by notification, determine the policy for the development of the credit information industry, including the development of the business of credit information and the infrastructure required for the collection and distribution of credit information.",A2005-30.pdf,270
130,130,What is the requirement as to minimum capital under the Act?,"The Reserve Bank may, by notification, specify the minimum capital required to be maintained by a credit information company to carry on its business under this Act.",A2005-30.pdf,165
131,131,"What is the process for inspection of a credit information company, credit institution, and specified user under the Act?","The Reserve Bank may, by notification, direct that any credit information company, credit institution, and specified user be inspected and that any inspection may be conducted by any officer or officers authorized by the Reserve Bank for this purpose.",A2005-30.pdf,251
132,132,What is the time limit for a credit information company to apply for a certificate of registration under this Act?,"Every credit information company in existence on the commencement of this Act, before the expiry of six months from such commencement, shall apply in writing to the Reserve Bank for obtaining a certificate of registration under this Act.",A2005-30.pdf,237
134,134,Can the Reserve Bank reject an application for a certificate of registration without giving the applicant an opportunity to be heard?,"No, the Reserve Bank may not reject an application for a certificate of registration without giving the applicant an opportunity of being heard.",A2005-30.pdf,144
135,135,What is the procedure for appealing against an order of the Reserve Bank rejecting an application for a certificate of registration or cancelling a certificate of registration?,"A credit information company aggrieved by the order of rejection of an application for grant of certificate of registration under section 5 or cancellation of certificate of registration under section 6, may prefer an appeal to the Central Government or any other authority or tribunal which may be designated by rules made by the Central Government, within a period of thirty days from the date on which such order of rejection or cancellation, as the case may be, is communicated to the credit information company.",A2005-30.pdf,516
136,136,What is the minimum authorized capital required for a credit information company?,The authorized capital of every credit information company shall be a minimum of thirty crores.,A2005-30.pdf,95
137,137,Can the Reserve Bank increase the minimum authorized capital required for a credit information company?,"Yes, the Reserve Bank may, by notification, increase the minimum amount of authorized capital to any amount not exceeding fifty crores.",A2005-30.pdf,135
138,138,What is the minimum paid-up capital required for a credit information company at any time?,The minimum paid-up capital of every credit information company at any time shall not be less than seventy-five per cent of the issued capital.,A2005-30.pdf,143
139,139,Who is responsible for the management of the whole of the affairs of a credit information company?,"The chairperson of the board of the credit information company, who may be appointed on whole-time or on a part-time basis, shall be entrusted with the management of the whole of the affairs of the credit information company.",A2005-30.pdf,225
140,140,What is the composition of the board of directors of a credit information company?,"In addition to the chairperson or managing director or whole-time director, by whatever name called, the board of directors shall consist of not less than fifty per cent directors who shall be persons.",A2005-30.pdf,201
141,141,Can the Reserve Bank cancel a certificate of registration granted to a credit information company without giving the company an opportunity to be heard?,"No, the Reserve Bank may not cancel a certificate of registration granted to a credit information company without giving the company a reasonable opportunity of being heard.",A2005-30.pdf,173
142,142,What are the conditions for a person to be eligible for appointment as a director of a credit information company?,"A person should have special knowledge in, or practical experience of, matters relating to public administration, law, banking, finance, accountancy, management, or information technology.",A2005-30.pdf,188
143,143,What is the primary objective of the Reserve Bank while discharging its functions related to credit information companies?,"The Reserve Bank shall act on business principles and have due regard to the interest of its specified users, credit institutions, or the clients or borrowers of credit institutions.",A2005-30.pdf,182
144,144,Under what circumstances can the Reserve Bank supersede the board of a credit information company?,"The Reserve Bank can supersede the board of a credit information company if it is satisfied that it is in the public interest or in the interest of banking policy or the credit system of the country, or for preventing the affairs of the credit information company being managed in a manner detrimental to the interest of banking policy or credit institutions or borrowers or clients.",A2005-30.pdf,383
145,145,What is the maximum period for which the Reserve Bank can supersede the board of a credit information company?,"The maximum period for which the Reserve Bank can supersede the board of a credit information company is twelve months, with an initial period not exceeding six months, which can be extended from time to time.",A2005-30.pdf,209
146,146,Who can be appointed as an Administrator of a credit information company in case of supersession of its board?,"The Reserve Bank may appoint an Administrator for a credit information company in case of supersession of its board, for a period and on such salary and other terms and conditions as it may determine.",A2005-30.pdf,200
147,147,What are the powers and functions of the Administrator appointed by the Reserve Bank?,"The Administrator appointed by the Reserve Bank shall exercise and discharge all the powers, functions, and duties which may be exercised or discharged by the board of the credit information company, or by a resolution passed in a general meeting of the company.",A2005-30.pdf,262
148,148,What is the purpose of the Reserve Bank determining the policy in relation to the functioning of credit information companies or credit institutions or specified users?,The Reserve Bank may determine the policy in relation to the functioning of credit information companies or credit institutions or specified users to ensure that it is necessary or expedient in the public interest or in the interest of specified users or credit institutions or clients or borrowers.,A2005-30.pdf,299
149,149,Under what circumstances can the Reserve Bank issue directions to credit information companies or credit institutions or specified users?,The Reserve Bank can issue directions to credit information companies or credit institutions or specified users if it is satisfied that it is necessary to do so in the public interest or in the interest of credit institutions or specified users or banking policy.,A2005-30.pdf,263
150,150,What is the purpose of the Reserve Bank's power to inspect credit information companies or credit institutions or specified users?,The Reserve Bank may cause an inspection to be made of any credit information company or credit institution or specified user and their books and accounts to ensure compliance with the provisions of the Act and to protect the interests of specified users or credit institutions or clients or borrowers.,A2005-30.pdf,302
151,151,What is the duty of every director or other officer or employee of a credit information company or credit institution or specified user in relation to an inspection by the Reserve Bank?,It is the duty of every director or other officer or employee of a credit information company or credit institution or specified user to produce to any officer or person or agency appointed by the Reserve Bank all necessary books and accounts and to provide any necessary information or assistance during an inspection.,A2005-30.pdf,319
152,152,What is the duty of an auditor of a credit information company under the Act?,"The duty of an auditor of a credit information company is to inquire whether or not the credit information company has furnished to the Reserve Bank such statements, information or particulars relating to its business as are required to be furnished under this Act.",A2005-30.pdf,265
153,153,Can a credit information company refuse to register a credit institution or another credit information company as its member?,"No, a credit information company cannot refuse to register a credit institution or another credit information company as its member without providing reasonable opportunity of being heard to such credit institution or credit information company, and recording reasons for such rejection.",A2005-30.pdf,287
154,154,"What is the procedure for settlement of disputes amongst credit information companies, credit institutions, borrowers, and clients?","Disputes amongst credit information companies, credit institutions, borrowers, and clients on matters relating to business of credit information shall be settled by conciliation or arbitration as provided in the Arbitration and Conciliation Act, 1996.",A2005-30.pdf,251
155,155,What is the responsibility of a credit information company or credit institution or specified user in possession or control of credit information?,"A credit information company or credit institution or specified user, as the case may be, in possession or control of credit information, shall take such steps (including security safeguards) as may be prescribed, to ensure that the data relating to the credit information is accurate and secure.",A2005-30.pdf,296
156,156,Can a credit institution abstain from becoming a member of at least one credit information company?,"No, every credit institution in existence on the commencement of this Act, before the expiry of three months from such commencement or within such extended period, as the Reserve Bank may allow on its application and subject to being satisfied about the reason for extension, shall become member of at least one credit information company.",A2005-30.pdf,339
157,157,What is the function of a credit information company under the Act?,"A credit information company may engage in any one or more of the following forms of business, namely: to collect, process and collate information on trade, credit and financial standing of the borrowers of the credit institution which is a member of the credit information company; to provide credit information to its specified users or to the specified users of any other credit information company or to any other credit information company being its member; and to provide credit scoring to its specified users or specified users of any other credit information company or to other credit information companies being its members.",A2005-30.pdf,634
158,158,Who can direct a credit institution to take necessary steps to become a member of a credit information company?,The Reserve Bank suo moto or on a complaint from a credit information company may direct a credit institution to take necessary steps to become a member of a credit information company.,A2005-30.pdf,185
159,159,What is the responsibility of a credit information company in relation to the collection and furnishing of credit information?,"A credit information company or any person authorised in that behalf by the company may, by notice in writing, require its members being credit institution or credit information company, to furnish such credit information as it may deem necessary in accordance with the provisions of this Act.",A2005-30.pdf,293
160,160,Can a credit information company disclose credit information to any person other than its specified user?,"No, a credit information company shall not disclose credit information to any person other than its specified user, and a specified user shall not disclose credit information to any other person.",A2005-30.pdf,195
161,161,What is the duty of an auditor of a credit information company in relation to special audit?,"The Reserve Bank may, at any time, by an order, direct that a special audit of the accounts of the credit information company in relation to any such transaction or class of transactions or for such period or periods, as may be mentioned in the order, shall be conducted and the Reserve Bank may by such order or by a separate order either appoint an auditor or auditors or direct the auditor of the credit information company himself to conduct such special audit.",A2005-30.pdf,465
162,162,"What is the responsibility of credit information companies, credit institutions, and specified users in relation to the collection, processing, collating, recording, preservation, secrecy, sharing, and usage of credit information?","They must adopt the following privacy principles: (a) collect information from borrowers and clients, process, record, protect data, and share with specified users; (b) use credit information only for the specified purpose, with restrictions on use and disclosure; (c) check accuracy of credit information before furnishing; (d) preserve credit information, including period of maintenance, deletion, and record-keeping; (e) allow access to records containing credit information, with procedures for alteration; (f) network through electronic mode; and (g) follow other principles and procedures as specified by the Reserve Bank.",A2005-30.pdf,629
163,163,"Can a person request a copy of their credit information from a credit institution, and what is the process for obtaining it?","Yes, a person can request a copy of their credit information from a credit institution. The institution must furnish a copy of the credit information, subject to payment of charges as specified by the Reserve Bank, within a reasonable timeframe. The credit institution must also update the credit information if it is not accurate, within thirty days of receiving the request.",A2005-30.pdf,376
164,164,"What are the consequences of unauthorized access to credit information, and what are the penalties for such an offense?","Unauthorized access to credit information is an offense punishable with a fine of up to one lakh rupees for each offense, and an additional fine of ten thousand rupees for every day the default continues. The unauthorized credit information cannot be used for any purpose.",A2005-30.pdf,272
165,165,What are the penalties for making false statements or omitting material information in returns or documents required under the Act?,"Making false statements or omitting material information is punishable with imprisonment for up to one year and a fine. Additionally, credit information companies, credit institutions, and specified users that wilfully make false statements or omit material information can be fined up to one crore rupees.",A2005-30.pdf,306
166,166,"Can a credit information company or credit institution provide credit information that is false in any material particular, and what are the consequences of doing so?","No, credit information companies and credit institutions cannot provide credit information that is false in any material particular. Doing so is punishable with a fine of up to one crore rupees.",A2005-30.pdf,194
167,167,"What is the liability of a person in charge of a credit information company, credit institution, or specified user for contraventions or defaults committed by the entity?","Every person in charge of a credit information company, credit institution, or specified user is deemed guilty of contraventions or defaults committed by the entity, and can be proceeded against and punished accordingly, unless they prove that the contravention or default was committed without their knowledge or that they exercised all due diligence to prevent it.",A2005-30.pdf,366
168,168,"Can a credit institution or credit information company be held liable for contraventions or defaults committed by its officers or employees, and what are the consequences of such liability?","Yes, a credit institution or credit information company can be held liable for contraventions or defaults committed by its officers or employees. The company or institution can be fined up to one lakh rupees for each offense, and an additional fine of five thousand rupees for every day the default continues.",A2005-30.pdf,309
169,169,"What is the responsibility of credit information companies, credit institutions, and specified users in relation to the maintenance and deletion of credit information, and what are the consequences of failing to comply with these responsibilities?","Credit information companies, credit institutions, and specified users must maintain and delete credit information in accordance with the Act and regulations. Failure to comply with these responsibilities can result in fines and penalties, as well as reputational damage.",A2005-30.pdf,271
170,170,"Can a borrower or client request the correction or deletion of their credit information, and what is the process for making such a request?","Yes, a borrower or client can request the correction or deletion of their credit information. The credit information company or credit institution must take appropriate steps to update the credit information within thirty days of receiving the request. The correction, deletion, or addition must be certified as correct by the concerned credit institution.",A2005-30.pdf,356
171,171,"What are the consequences of obstructing the lawful exercise of any power conferred by the Act, or making default in complying with any requirement of the Act or regulations?","Obstructing the lawful exercise of any power conferred by the Act, or making default in complying with any requirement of the Act or regulations, is punishable with a fine of up to one lakh rupees, and an additional fine of five thousand rupees for every day the default continues.",A2005-30.pdf,281
172,172,What is the procedure for taking cognizance of an offence committed by a member of a credit information company?,No court shall take cognizance of any offence committed by a member of a credit information company and punishable under section 23 except upon a complaint in writing made by an officer of the credit information company generally or specially authorised in writing in this behalf by the credit information company or if so directed by the Reserve Bank so to do.,A2005-30.pdf,361
173,173,What is the provision for imposing penalty on a credit information company or credit institution for contravention or default?,"The Reserve Bank may impose on such credit information company or credit institution a penalty not exceeding one lakh rupees or one crore rupees, depending on the nature of the contravention or default, and a further penalty of five thousand rupees for every day, after the first, during which the contravention or default continues.",A2005-30.pdf,333
174,174,What is the procedure for adjudging the penalty under section 25 of the Act?,"The Reserve Bank shall serve notice on credit information company or credit institution or specified user, requiring it to show cause as to why the amount mentioned in the notice should not be imposed as penalty and a reasonable opportunity of being heard shall also be given to such credit information company or credit institution or specified user.",A2005-30.pdf,351
175,175,Can a complaint be filed against a credit information company or credit institution or specified user in any court of law in respect of any contravention or default in respect of which any penalty has been imposed by the Reserve Bank under this section?,"No, no complaint shall be filed against credit information company or credit institution or specified user, as the case may be, in any court of law in respect of any contravention or default in respect of which any penalty has been imposed by the Reserve Bank under this section.",A2005-30.pdf,279
176,176,What is the provision for disclosure of information before any court or tribunal or authority?,"No chairperson, director, member, auditor, adviser, officer or other employee or agent employed in the business of a credit information company or in the business of a specified user shall, except for the purposes of this Act or when required to do so by any other law in force or court or tribunal or authority, disclose any information to any person.",A2005-30.pdf,352
177,177,What is the obligation of a credit information company with respect to fidelity and secrecy?,"Every credit information company shall observe, except as otherwise required by law, the practices and usages customary among credit information companies and it shall not divulge any information relating to, or to the affairs of, its members or specified users.",A2005-30.pdf,262
178,178,What is the provision for protection of action taken in good faith?,"No suit or other legal proceedings or prosecution shall lie against the Reserve Bank or the Central Government or credit information company or credit institution, or their chairperson, director, member, auditor, adviser, officer or other employee, or agent or any person authorised by the Reserve Bank or the Central Government or credit information company or credit institution to discharge any function under this Act, for any loss or damage caused or as is likely to be caused by anything which is in good faith done or intended to be done, in pursuance of this Act or any other law for the time being in force.",A2005-30.pdf,616
179,179,"What is the bar of jurisdiction with respect to matters referred to in sections 4, 5, 6, 7 and 18?","No court or authority shall have, or be entitled to exercise, any jurisdiction, powers or authority, except the Supreme Court and a High Court exercising jurisdiction under articles 32, 226 and 227 of the Constitution, in relation to the matters referred to in sections 4, 5, 6, 7 and 18.",A2005-30.pdf,288
180,180,Can the Reserve Bank exempt any credit information company or credit institution from the provisions of the Act?,"The Central Government may, on the recommendation of the Reserve Bank, by notification in the Official Gazette, direct that any or all of the provisions of this Act shall not apply to any credit information company or a credit institution, as the case may be, either generally or for such period and subject to such exceptions or modifications, as may be mentioned in that notification.",A2005-30.pdf,386
181,181,What is the procedure for laying a copy of every notification proposed to be issued under section 32 before the Houses of Parliament?,"A copy of every notification proposed to be issued under sub-section (1) of section 32, shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days which may be",A2005-30.pdf,214
182,182,What happens if both Houses of Parliament agree in disapproving the issue of a notification or agree in making any modification in the notification before the expiry of the session immediately following the session or successive sessions?,The notification shall not be issued or shall be issued only in such modified form as may be agreed upon by both Houses.,A2005-30.pdf,120
183,183,"What is the relationship between the provisions of this Act and other laws, such as the Companies Act, 1956?","The provisions of this Act shall be in addition to, and not, save as provided under this Act, in derogation of, the provisions of the Companies Act, 1956 or any other law for the time being in force.",A2005-30.pdf,199
184,184,What power does the Central Government have to make provisions for removing difficulties in giving effect to the provisions of this Act?,"The Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as appear to it to be necessary or expedient for removing the difficulty.",A2005-30.pdf,215
185,185,What is the process for laying every order made under section 35 before each House of Parliament?,"Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.",A2005-30.pdf,119
186,186,What power does the Reserve Bank have to make regulations consistent with the provisions of this Act and the rules made thereunder?,The Reserve Bank may make regulations consistent with the provisions of this Act and the rules made thereunder to carry out the purposes of this Act.,A2005-30.pdf,149
187,187,What matters may be provided for in the rules made by the Central Government under section 36?,"The rules may provide for all or any of the following matters, namely: the authority or tribunal which may be designated under sub-section (1) of section 7; the steps to be taken by every credit information company or credit institution and specified user for ensuring accuracy, completeness of data and protection of data from any loss or unauthorized access or use or disclosure under section 19; the form in which a declaration of fidelity and secrecy shall be made under sub-section (2) of section 29; any other matter which is required to be, or may be, prescribed.",A2005-30.pdf,570
188,188,What happens if both Houses of Parliament agree in making any modification in a rule or agree that the rule should not be made before the expiry of the session immediately following the session or successive sessions?,"The rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.",A2005-30.pdf,245
189,189,What is the purpose of the Schedule to this Act?,"The Schedule provides for amendments to certain enactments, including the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, and others.",A2005-30.pdf,152
190,190,What is the effect of the amendments made to the various enactments listed in the Schedule?,"The amendments made to the various enactments listed in the Schedule aim to bring those enactments in line with the provisions of this Act, particularly with respect to the regulation of credit information companies.",A2005-30.pdf,216
191,191,What is the purpose of the provisions in sections 37 and 38 relating to the Reserve Bank's power to make regulations and the Central Government's power to make rules?,The purpose of these provisions is to enable the Reserve Bank and the Central Government to make regulations and rules that will help to implement the provisions of this Act and to provide for the regulation of credit information companies.,A2005-30.pdf,240
192,192,"What is the Payment and Settlement Systems Act, 2007, and what is its main objective?","The Payment and Settlement Systems Act, 2007, is an Act of the Parliament of India that aims to provide for the regulation and supervision of payment systems in India and to designate the Reserve Bank of India as the authority for that purpose.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,244
193,193,"What is a payment system, and what types of systems are included under this definition?","A payment system is a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them. This includes systems enabling credit card operations, debit card operations, smart card operations, money transfer operations or similar operations.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,315
194,194,"What is the role of the Reserve Bank of India under the Payment and Settlement Systems Act, 2007?","The Reserve Bank of India is designated as the authority for regulating and supervising payment systems in India under the Payment and Settlement Systems Act, 2007. It has the power to determine standards, call for returns, documents or other information, and to carry out audits and inspections, among other things.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,316
195,195,"What is a system provider, and what are its duties under the Payment and Settlement Systems Act, 2007?","A system provider is a person who operates an authorized payment system. The system provider is required to act in accordance with the Act, regulations, etc., and to keep confidential the documents and information relating to the payment system.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,245
196,196,"What is netting, and how is it used in payment systems?","Netting is the determination by the system provider of the amount of money or securities, due or payable or deliverable, as a result of setting off or adjusting, the payment obligations or delivery obligations among the system participants. This is used to reduce the risk of settlement and to increase the efficiency of payment systems.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,337
197,197,"What is a payment instruction, and how is it used in payment systems?","A payment instruction is any instrument, authorization or order in any form, including electronic means, to effect a payment. This can be used by a person to instruct a system participant to debit or credit an account, or by a system participant to another system participant to effect a payment.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,296
198,198,"What is systemic risk, and how is it managed under the Payment and Settlement Systems Act, 2007?","Systemic risk is the risk arising from the inability of a system participant to meet its payment obligations under the payment system as and when they become due, or any disruption in the system that may cause other participants to fail to meet their obligations when due. The Reserve Bank of India has the power to manage systemic risk by taking measures such as calling for returns, documents or other information, and carrying out audits and inspections.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,457
199,199,"What is the role of the Central Government under the Payment and Settlement Systems Act, 2007?","The Central Government has the power to appoint different dates for the commencement of different provisions of the Act, and to make notifications in the Official Gazette. It also has the power to amend the Act and to make regulations under the Act.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,249
200,200,"What are the penalties for offenses under the Payment and Settlement Systems Act, 2007?","The Act provides for penalties for offenses such as failure to comply with the directions of the Reserve Bank of India, failure to maintain confidentiality of documents and information, and failure to settle payment obligations. The penalties can include fines, imprisonment, or both.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,284
201,201,"What is the overriding effect of the Payment and Settlement Systems Act, 2007?",The Act has an overriding effect on any other law or agreement that is inconsistent with its provisions. This means that the Act takes precedence over any other law or agreement that may be applicable to payment systems in India.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,229
202,202,What is the definition of a trade repository according to the Act?,"A trade repository means a person who is engaged in the business of collecting, collating, storing, maintaining, processing or disseminating electronic records or data relating to derivatives or financial transactions, as may be specified by the Reserve Bank from time to time.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,277
203,203,Who is the designated authority for the regulation and supervision of payment systems under this Act?,The Reserve Bank shall be the designated authority for the regulation and supervision of payment systems under this Act.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,120
204,204,What is the composition of the Board for Regulation and Supervision of Payment and Settlement Systems?,"The Board shall consist of the Governor, Reserve Bank, who shall be the Chairperson of the Board, Deputy Governors, Reserve Bank, out of whom the Deputy Governor who is in-charge of the Payment and Settlement Systems, shall be the Vice-Chairperson of the Board, and not exceeding three Directors from the Central Board of the Reserve Bank of India to be nominated by the Governor, Reserve Bank.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,394
205,205,Can a person operate a payment system without authorization from the Reserve Bank?,"No, no person, other than the Reserve Bank, shall commence or operate a payment system except under and in accordance with an authorization issued by the Reserve Bank under the provisions of this Act.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,200
206,206,What are the considerations that the Reserve Bank shall take into account while issuing an authorization for operating a payment system?,"The Reserve Bank shall take into account the need for the proposed payment system or the services proposed to be undertaken by it, the technical standards or the design of the proposed payment system, the terms and conditions of operation of the proposed payment system including any security procedure, the manner in which transfer of funds may be effected within the payment system, and other factors.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,403
207,207,What is the procedure for appealing against the refusal of an application for authorization or the revocation of an authorization?,"Any applicant for authorization whose application for the operation of the payment system is refused or a system provider who is aggrieved by an order of revocation may, within thirty days from the date on which the order is communicated to him, appeal to the Central Government.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,279
208,208,What are the powers of the Reserve Bank in relation to the regulation and supervision of payment systems?,"The Reserve Bank may, from time to time, prescribe the format of payment instructions and the size and shape of such instructions, the timings to be maintained by payment systems, the manner of transfer of funds within the payment system, and other standards to be complied with by payment systems.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,298
209,209,Can the Reserve Bank revoke an authorization issued to a system provider?,"Yes, the Reserve Bank may, by order, revoke the authorization given to a system provider under this Act if the system provider contravenes any provisions of this Act, or does not comply with the regulations, or fails to comply with the orders or directions issued by the designated authority, or operates the payment system contrary to the conditions subject to which the authorization was issued.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,397
210,210,What is the effect of the revocation of an authorization on the operation of a payment system?,"The order of revocation issued under sub-section (1) shall include necessary provisions to protect and safeguard the interests of persons affected by such order of revocation, and the system provider shall inform the Reserve Bank of its insolvency or dissolution or winding up and the Reserve Bank shall take such steps as deemed necessary to revoke the authorization issued to such system provider to operate the payment system.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,429
211,211,What is the final authority for deciding an appeal against the refusal of an application for authorization or the revocation of an authorization?,The decision of the Central Government on the appeal under sub-section (1) shall be final.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,90
212,212,What are the conditions that a system provider must comply with in order to operate a payment system under this Act?,"Every system provider shall operate the payment system in accordance with the provisions of this Act, the regulations, the contract governing the relationship among the system participants, the rules and regulations which deal with the operation of the payment system and the conditions subject to which the authorization is issued, and the directions given by the Reserve Bank from time to time.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,396
213,213,What must a system provider disclose to existing or potential system participants?,"Every system provider shall disclose to the existing or potential system participants, the terms and conditions including the charges and the limitations of liability under the payment system, supply them with copies of the rules and regulations governing the operation of the payment system, netting arrangements and other relevant documents.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,343
214,214,Can the Reserve Bank permit a system provider to make changes to a payment system without giving notice to the system participants?,"Yes, the Reserve Bank may permit the system provider to make any changes in a payment system without giving notice to the system participants under clause (b) or requiring the system provider to give notice for a period longer than thirty days, if it is in the interest of monetary policy of the country or in public interest.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,326
215,215,What power does the Reserve Bank have to call for information or documents from a system provider?,"The Reserve Bank may call for from any system provider such returns or documents as it may require or other information in regard to the operation of his payment system at such intervals, in such form and in such manner, as the Reserve Bank may require from time to time or as may be prescribed.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,295
216,216,Can the Reserve Bank disclose any document or information obtained by it under sections 12 to 14 to any person?,"Yes, the Reserve Bank may disclose any document or information obtained by it under sections 12 to 14 to any person to whom the disclosure of such document or information is considered necessary for protecting the integrity, effectiveness or security of the payment system, or in the interest of banking or monetary policy or the operation of the payment systems generally or in the public interest.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,399
217,217,What is the duty of a system provider with respect to maintaining confidentiality of documents and information ?,"A system provider shall not disclose to any other person the existence or contents of any document or part thereof or other information given to him by a system participant, except where such disclosure is required under the provisions of this Act or the disclosure is made with the express or implied consent of the system participant concerned or where such disclosure is in obedience to the orders passed by a court of competent jurisdiction or a statutory authority in exercise of the powers conferred by a statute.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,519
218,218,Can the Reserve Bank issue directions to a payment system or system participant if it is of the opinion that there is a systemic risk?,"Yes, the Reserve Bank may issue directions in writing to such payment system or system participant requiring it, within such time as the Reserve Bank may specify, to cease and desist from engaging in the act, omission or course of conduct or to ensure the system participants to cease and desist from the act, omission or course of conduct.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,340
219,219,What power does the Reserve Bank have to enter and inspect premises where a payment system is being operated?,"Any officer of the Reserve Bank duly authorised by it in writing in this behalf, may for ensuring compliance with the provisions of this Act or any regulations, enter any premises where a payment system is being operated and may inspect any equipment, including any computer system or other documents situated at such premises and call upon any employee of such system provider or participant thereof or any other person working in such premises to furnish such information or documents as may be required by such officer.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,522
220,220,What is the duty of every person to whom a direction has been issued by the Reserve Bank under this Act?,Every person to whom a direction has been issued by the Reserve Bank under this Act shall comply with such direction without any delay and a report of compliance shall be furnished to the Reserve Bank within the time allowed by it.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,231
221,221,Can the Reserve Bank lay down policies relating to the regulation of payment systems?,"Yes, the Reserve Bank may, if it is satisfied that for the purpose of enabling it to regulate the payment systems or in the interest of management or operation of any of the payment systems or in public interest, it is necessary so to do, lay down policies relating to the regulation of payment systems including electronic, non-electronic, domestic and international payment systems affecting domestic transactions and give such directions in writing as it may consider necessary to system providers or the system participants or any other person either generally or to any such agency.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,587
222,222,What is the role of the Reserve Bank in issuing authorization to a payment system?,"The Reserve Bank may approve a gross or netting procedure while issuing authorization to a payment system under section 7, or under any other provisions of the Act.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,164
223,223,What happens to the settlement of a payment system in case of insolvency or dissolution of a system participant?,"Notwithstanding anything contained in any other law for the time being in force, an order of a court, tribunal, or authority declaring a system participant as insolvent or dissolved shall not affect any settlement that has become final and irrevocable prior to such order or immediately thereafter.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,298
224,224,What is the role of a central counterparty in a payment system?,"A central counterparty is a system provider who, by way of novation, interposes between system participants in transactions admitted for settlement, thereby becoming the buyer to every seller and the seller to every buyer, for the purpose of effecting settlement of their transactions.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,285
225,225,How does the Reserve Bank protect funds collected from customers of designated payment systems?,"The Reserve Bank may require system providers of designated payment systems to deposit and keep deposited in a separate account or maintain liquid assets in a specified manner and form, an amount equal to a percentage of the amounts collected from customers and remaining outstanding.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,284
226,226,What is the purpose of creating a panel of system participants to decide disputes in a payment system?,The purpose of creating a panel of system participants is to decide disputes between system participants in respect of any matter connected with the operation of the payment system.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,181
227,227,What happens to the balance held in a separate account or liquid assets maintained by a system provider of a designated payment system?,The balance held in the account or liquid assets shall not be utilized for any purpose other than for discharging liabilities arising on account of the usage of the payment service by customers or for repaying to customers or for such other purpose as may be specified by the Reserve Bank.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,289
228,228,What is the first and paramount charge on the balance held in a separate account or liquid assets maintained by a system provider of a designated payment system?,The first and paramount charge on the balance held in the account or liquid assets shall be the amounts due to customers who are entitled to receive payment under sub-section (2) of section 23A.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,194
229,229,How are disputes between system participants or between system providers and system participants resolved?,Disputes between system participants or between system providers and system participants are resolved through a panel of system participants or by referring the dispute to the Reserve Bank.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,189
230,230,What is the role of the Reserve Bank in resolving disputes between system participants or between system providers and system participants?,The Reserve Bank resolves disputes between system participants or between system providers and system participants that are not resolved by the panel of system participants or where a system participant is not satisfied with the decision of the panel.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,251
231,231,What is the definition of a designated payment system?,"A designated payment system means a payment system or a class of payment system, as may be specified by the Reserve Bank from time to time, engaged in collection of funds from their customers for rendering payment service.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,222
232,232,What is the provision for taking cognizance of an offence punishable under this Act?,No court shall take cognizance of an offence punishable under this Act except upon a complaint in writing made by an officer of the Reserve Bank generally or specially authorised by it in writing in this behalf.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,211
233,233,What is the provision for the application of fine imposed under this Act?,"A court imposing any fine under this Act may direct that the whole or any part thereof shall be applied in, or towards payment of, the costs of the proceedings.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,160
234,234,What is the power of the Reserve Bank to impose fines under this Act?,"The Reserve Bank may impose on the person contravening or committing default a penalty not exceeding five lakh rupees or twice the amount involved in such contravention or default where such amount is quantifiable, whichever is more.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,233
235,235,What is the procedure for imposing penalty under section 30 of this Act?,The Reserve Bank shall serve a notice on the defaulter requiring him to show cause why the amount specified in the notice should not be imposed as a penalty and a reasonable opportunity of being heard shall also be given to such defaulter.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,239
236,236,What is the provision for the recovery of penalty imposed under this Act?,"The penalty imposed on the defaulter by the Reserve Bank under section 30 may be recovered by issuing a notice to any person from whom any amount is due to the defaulter, by requiring such person to deduct from the amount payable by him to the defaulter, the amount payable to the Reserve Bank by way of penalty and pay to the Reserve Bank.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,340
237,237,What is the provision for compounding of offences under this Act?,"Any offence punishable under this Act for any contravention, not being an offence punishable with imprisonment only, or with imprisonment and also with fine, may, on receipt of an application from the person committing such contravention, be compounded by an officer of the Reserve Bank duly authorised by it in this behalf.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,324
238,238,What is the provision for the overriding effect of this Act?,The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,148
239,239,What is the provision for the mode of recovery of penalty under this Act?,"The penalty imposed on the defaulter by the Reserve Bank under section 30 may be recovered by issuing a notice to any person from whom any amount is due to the defaulter, by requiring such person to deduct from the amount payable by him to the defaulter, the amount payable to the Reserve Bank by way of penalty and pay to the Reserve Bank.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,340
240,240,What is the provision for the liability of a person discharging any liability to the defaulter after receipt of a notice under section 33?,"Any person discharging any liability to the defaulter after the receipt of a notice under section 33 shall be personally liable to the Reserve Bank to the extent of his own liability to the defaulter so discharged or to the extent of the penalty imposed on the defaulter by the Reserve Bank, whichever is less.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,310
241,241,What is the provision for the non-applicability of this Act to stock exchanges or clearing corporations of stock exchanges?,Nothing contained in this Act shall apply to stock exchanges or the clearing corporations of the stock exchanges.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,113
242,242,What does the expression 'designated trade repository' mean for the purposes of section 35?,"The expression 'designated trade repository' shall mean a trade repository or a class of trade repositories, as may be specified by the Reserve Bank from time to time.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,167
243,243,Who is deemed to be a public servant within the meaning of section 21 of the Indian Penal Code?,Every officer of the Reserve Bank who has been entrusted with any power under this Act shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,184
244,244,"What is the protection provided to the Central Government, the Reserve Bank, or any officer thereof for any damage caused or likely to be caused by anything done in good faith?","No suit or other legal proceedings shall lie against the Central Government, the Reserve Bank, or any officer thereof for any damage caused or likely to be caused by anything which is in good faith done or intended to be done in pursuance of this Act, any regulations, order or direction made or given thereunder.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,313
245,245,What power does the Central Government have to remove difficulties in giving effect to the provisions of this Act?,"The Central Government may, by order published in the Official Gazette, make such provisions as appear to it to be necessary or expedient for removing the difficulty, provided that no order shall be made under this section after the expiry of a period of two years from the commencement of this Act.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,299
246,246,What is the power of the Reserve Bank to make regulations to carry out the provisions of this Act?,"The Reserve Bank may, by notification, make regulations consistent with this Act to carry out the provisions of this Act, which may provide for all or any of the matters specified in section 38(2).",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,197
247,247,What matters may be provided for in the regulations made by the Reserve Bank under section 38?,"The regulations may provide for all or any of the following matters, namely: the powers and functions of the Committee, the form and manner of application for authorisation, the form of authorisation, the format of payment instructions, the intervals at which and the form and manner in which information or returns shall be furnished, and such other matters as are required to be, or may be, prescribed.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,404
248,248,When does a regulation made under section 38 come into effect?,Any regulation made under this section shall have effect from such earlier or later date (not earlier than the date of commencement of this Act) as may be specified in the regulation.,67-the-payment-and-settlement-systems-act-200712092020034236.pdf,183
249,249,What happens to a regulation made by the Reserve Bank after it is forwarded to the Central Government?,"Every regulation shall, as soon as may be after it is made by the Reserve Bank, be forwarded to the Central Government and that Central Government shall cause a copy of the same to be laid before each House of Parliament, while it is in session, for a total period of thirty days.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,280
250,250,Can both Houses of Parliament modify or annul a regulation made by the Reserve Bank?,"Yes, if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation, or both Houses agree that the regulation should not be made, the regulation shall, thereafter, have effect only in such modified form or be of no effect, as the case may be.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,351
251,251,Does the modification or annulment of a regulation affect the validity of anything previously done under that regulation?,"No, any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation.",67-the-payment-and-settlement-systems-act-200712092020034236.pdf,132
252,252,What is the purpose of the Master Direction on Digital Payment Security Controls?,The Master Direction provides necessary guidelines for regulated entities to set up a robust governance structure and implement common minimum standards of security controls for digital payment products and services.,MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,216
253,253,"What is the scope of the Reserve Bank of India (Digital Payment Security Controls) Directions, 2021?","The directions shall apply to Scheduled Commercial Banks (excluding Regional Rural Banks), Small Finance Banks, Payments Banks, and Credit card issuing NBFCs.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,158
254,254,What is the responsibility of the Board and Senior Management of Regulated Entities (REs) in implementing the policy for digital payment products and services?,"The Board and Senior Management shall be responsible for implementation of the policy, which shall be reviewed periodically, at least on a yearly basis.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,152
255,255,What are the key aspects that the policy document for digital payment products and services should address?,"The policy document should address the mechanics, clear definition of starting point, critical intermittent stages/points and end point in the digital payment cycle, security aspects, validations till the digital payment is settled, clear pictorial representation of digital path and exception handling.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,303
256,256,What is the requirement for external assessment of the entire process of digital payment products and services?,"The need for an external assessment of the entire process including the logic, build and security aspects of the application(s) supporting the digital product should be clearly articulated.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,189
257,257,What is the responsibility of Regulated Entities (REs) in managing the specific risks associated with digital payment products and services?,"REs shall incorporate appropriate processes into their governance and risk management programs for identifying, analysing, monitoring and managing the specific risks, including compliance risk and fraud risk, associated with the portfolio of digital payment products and services on a continual basis and in a holistic manner.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,326
258,258,What is the requirement for risk assessments by Regulated Entities (REs) for digital payment products and associated processes and services?,"REs shall conduct risk assessments with regard to the safety and security of digital payment products and associated processes and services as well as suitability and appropriateness of the same vis-à-vis the target users, both prior to establishing the service(s) and regularly thereafter.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,290
259,259,What are the key factors that should be considered by Regulated Entities (REs) while conducting risk assessments for digital payment products and services?,"The risk assessment should take into account the technology stack and solutions used, known vulnerabilities at each of the touchpoints of the digital product and the remedial action taken by the entity, dependence on third party service providers and oversight over such providers, etc.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,286
260,260,"What is the requirement for data storage, security and privacy protection for digital payment products and services?","Data storage, security and privacy protection should be as per extant laws/instructions.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,88
261,261,"What is the timeline for implementation of the Reserve Bank of India (Digital Payment Security Controls) Directions, 2021?",The directions shall come into effect six months from the day they are placed on the official website of the Reserve Bank of India (RBI).,MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,137
262,262,What types of risks should REs assess and address in their digital payment systems?,"REs should assess and address operational risk including fraud risk, business continuity and service availability, compliance with extant cyber security requirements, and compatibility aspects.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,193
263,263,What is the purpose of the internal Risk and Control Self-Assessment (RCSA) exercise?,The purpose of the RCSA exercise is to cover the risks (inherent) & controls vis-à-vis the probability and impact of threats to arrive at residual risk.,MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,152
264,264,What should REs evaluate when choosing technology platforms and application architecture?,"REs should evaluate the risks associated with the chosen technology platforms and application architecture, both on the server and client side.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,143
265,265,What should REs ensure when offering digital payment products and services?,"REs should ensure that adequate safeguards are in place to protect integrity of data, customer confidentiality and security of data.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,132
266,266,What should REs do to ensure the security of their digital payment applications?,"REs should implement multi-tier application architecture, segregating application, database and presentation layer, and follow a ‘secure by design’ approach in the development of digital payment products and services.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,217
267,267,What should REs do to ensure the continuity of services in case a third-party vendor defaults or is unable to provide services?,REs should have an escrow arrangement for the source code for ensuring continuity of services in case the vendor defaults or is unable to provide services.,MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,155
268,268,What should REs do to ensure the security of their digital payment applications before launch?,"REs should conduct security testing including review of source code, Vulnerability Assessment (VA) and Penetration Testing (PT) of their digital payment applications.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,166
269,269,What should REs do to monitor for non-genuine/unauthorised/malicious applications?,REs should institute a mechanism to actively monitor for the non-genuine/unauthorised/malicious applications (with similar name/features) on popular app-stores and the Web and respond accordingly to bring them down.,MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,215
270,270,What should REs refer to for application security and other protection measures?,"REs should refer to standards such as OWASP-MASVS, OWASP-ASVS and other relevant OWASP standards, security and data protection guidelines in ISO 12812, threat catalogues and guides developed by NIST.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,199
271,271,What should REs do to protect customer information when transmitted via SMS/e-mails?,REs should redact/mask customer information such as account numbers/card numbers/other sensitive information when transmitted via SMS/e-mails.,MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,142
272,272,What type of authentication should REs implement for payments through electronic modes and fund transfers?,"Multi-factor authentication, with at least one dynamic or non-replicable methodology, such as One Time Password, mobile devices, biometric, PKI, hardware tokens, or EMV chip card with server-side verification.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,209
273,273,What is the purpose of adaptive authentication in digital payment systems?,"To select the right authentication factors depending on risk assessment, user risk profile, and behavior, in order to enhance confidence in digital payment and combat various cyber-attack mechanisms.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,199
274,274,What factors should REs consider when implementing authentication methodologies?,"REs should consider the type of customer, customer transactional requirements, sensitivity of customer information, and volume and value of transactions involved, as well as customer acceptance, ease of use, reliable performance, scalability, and interoperability with other systems.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,283
275,275,How should REs apply multi-factor authentication and alerts for online payment transactions?,"REs should apply multi-factor authentication and alerts, such as SMS or email, for all payment transactions, including debits and credits, creation of new account linkages, changing account details, or revision to fund transfer limits, taking into account customer preferences for additional online protection.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,310
276,276,What measures should REs take to minimize exposure to middleman attacks?,"REs should implement measures to secure data in transit and ensure transactions are authenticated only by genuine sources, such as encryption protocols and secure session management.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,182
277,277,How should REs handle failed log-in or authentication attempts?,"REs should set a maximum number of failed log-in or authentication attempts after which access to the digital payment product or service is blocked, and have a secure procedure in place to re-activate access, while notifying the customer of failed attempts.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,257
278,278,What parameters should REs use to identify suspicious transactional behavior?,"REs should use parameters such as transaction velocity, high-risk merchant category codes, counterfeit card parameters, new account parameters, time zones, geo-locations, IP address origin, behavioral biometrics, and transactions to mobile wallets or mobile numbers with registered vishing fraud.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,296
279,279,What skills and areas of expertise should staff in the fraud control function possess?,"Staff should be educated about frauds and trained in skills such as fraud control tools and their usage, investigative techniques and procedures, cardholder and merchant education techniques, scheme/card operating regulations, data processing and analysis, and liaising with law enforcement agencies.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,300
280,280,What measures should REs take to maintain updated contact details of stakeholders for incident response?,"REs should maintain updated contact details of service providers, intermediaries, external agencies, and other stakeholders, and put in place a mechanism to update and verify such contact details, as well as formulate specific SOPs to handle incidents related to the payment ecosystem.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,285
281,281,What reconciliation framework should REs put in place for digital payment transactions?,"REs should put in place a real-time or near-real-time reconciliation framework for all digital payment transactions between RE and stakeholders, to detect and prevent suspicious transactions, and monitor the implementation and effectiveness of such a framework.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,261
282,282,What should REs do to ensure secure and safe usage guidelines for digital payment applications?,"REs should update the digital payment application with secure and safe usage guidelines in the first instance and after each update, and ensure that customers are aware of the process and procedure for lodging consumer grievances.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,230
283,283,How should REs handle customer grievances related to digital payments?,"REs should have a clear process and procedure for lodging consumer grievances, including forms, contact information, and a mechanism for keeping this information periodically updated, and provide an option for registering a grievance on the application.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,253
284,284,What should REs do to educate customers about the security of their devices accessing digital payment products and services?,"REs should educate customers about the need to maintain the physical and logical security of their devices, including recommending secure and regular installation of operating system and application updates, downloading applications only from authorized sources, and having anti-malware/anti-virus applications on devices.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,322
285,285,What information should REs provide to customers before they subscribe to digital payment products and services?,"REs should provide information about the risks, benefits, and liabilities of using digital payment products and services, including customer rights, obligations, and responsibilities, and any problems that may arise from service unavailability, processing errors, and security breaches.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,286
286,286,How should REs handle new operating features or functions introduced to online delivery channels?,"REs should provide clear and effective communication followed by sufficient instructions to properly utilize new features, particularly those relating to security, integrity, and authentication.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,194
287,287,What should REs do to create public awareness about threats and attacks against consumers while using digital payment products?,"REs should continuously create public awareness on the types of threats and attacks used against consumers, including phishing, vishing, reverse-phishing, and remote access of mobile devices, and educate customers on precautionary measures to safeguard against these threats.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,275
288,288,How should REs provide digital payment products and services to customers?,"REs should provide digital payment products and services only at the customer's option based on specific written or authenticated electronic requisition, along with a positive acknowledgement of the terms and conditions.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,220
289,289,What mechanism should REs provide on their mobile and internet banking applications for customers to report fraudulent transactions?,"REs should provide a mechanism for customers to identify/mark a transaction as fraudulent with necessary authentication, and enable seamless and immediate notification to the RE, which may endeavour to build the capability for seamless/instant reporting of fraudulent transactions to the corresponding beneficiary/counterparty's RE.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,332
290,290,What additional security controls should REs implement for internet banking websites?,"REs should implement additional levels of authentication, such as adaptive authentication, strong CAPTCHA with server-side validation, and take measures to prevent DNS cache poisoning attacks and secure handling of cookies, and provide a virtual keyboard option.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,262
291,291,What controls should REs implement for mobile payments applications?,"REs should implement controls such as device policy enforcement, secure download/install, deactivating older application versions, storage of customer data, device or application encryption, minimal data collection/app permissions, application sandbox/containerization, and code obfuscation.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,291
292,292,What measures should REs take to ensure device binding of mobile applications?,"REs should implement device binding through a combination of hardware, software, and service information. If multiple devices are allowed to be registered, the user must be notified of every new device registration, and REs must maintain a record of all registered devices, providing the user with a facility to disable a registered device.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,340
293,293,What alternatives to SMS-based OTP authentication mechanisms may REs consider implementing?,"REs may consider implementing alternatives to SMS-based OTP authentication mechanisms, considering that the additional factor of authentication and mobile application may reside on the same mobile device in the case of mobile banking and mobile payments.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,254
294,294,What measures should mobile applications take to secure user authentication information?,"Mobile applications should not store or retain sensitive personal or consumer authentication information such as user IDs, passwords, keys, hashes, or hard-coded references on the device. The application should securely wipe any sensitive customer information from memory when the customer/user exits the application.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,317
295,295,What security measures should REs take to secure their card payment infrastructure?,Acquirers should secure their card payment infrastructure through measures such as Unique Key Per Terminal (UKPT) or Derived Unique Key Per Transaction (DUKPT)/Terminal Line Encryption (TLE).,MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,191
296,296,What security controls should be implemented at Hardware Security Modules (HSMs)?,"HSMs should have logging enabled, and the logs must be tamper-proof. Access to the HSM should be controlled through Access Control Lists (ACLs), and all access to HSM should be managed and monitored using a robust Privileged Identity and Access Management solution.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,265
297,297,What measures should REs take to improve the security posture of ATMs?,"REs should implement security measures such as BIOS password, disabling USB ports, disabling auto-run facility, applying the latest patches of operating system and other software, terminal security solution, time-based admin access, anti-skimming, and whitelisting solution.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,274
298,298,What measures should REs take to secure card transactions?,"REs should implement robust surveillance/monitoring of card transactions, setting up rules and limits commensurate with their risk appetites. They should also ensure that card details of customers are not stored in plain text at the RE and its vendor(s) locations, systems, and applications.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,291
299,299,What safety measures should REs take when using card data scanning tools?,"REs should test the tool in a test environment before installation, install the tool only in their premises on their devices, and not scan card data remotely. The scanning tool should be used only for the purpose of scanning unencrypted card data.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,247
300,300,What payment card standards should REs follow?,"REs should follow various payment card standards such as PCI-PIN, PCI-PTS, PCI-HSM, and PCI-P2PE as per Payment Card Industry (PCI) prescriptions for comprehensive payment card security.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,186
301,301,What measures should REs take to secure sensitive information written to 'temp' files?,"REs should limit the writing of sensitive information into 'temp' files, and the sensitive information written in such files must be suitably encrypted/masked/hashed and stored securely.",MD7493544C24B5FC47D0AB12798C61CDB56F.pdf,186
302,302,"What is the main objective of the Insolvency and Bankruptcy Code, 2016?","To consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,397
303,303,"Who is a corporate person under the Insolvency and Bankruptcy Code, 2016?","A company as defined in clause (20) of section 2 of the Companies Act, 2013 (18 of 2013), a limited liability partnership, as defined in clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009), or any other person incorporated with limited liability under any law for the time being in force, but does not include any financial service provider.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,391
304,304,"Who is an insolvency professional under the Insolvency and Bankruptcy Code, 2016?",A person enrolled under section 206 with an insolvency professional agency as its member and registered with the Board as an insolvency professional under section 207.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,167
305,305,"Who is a creditor under the Insolvency and Bankruptcy Code, 2016?","Any person to whom a debt is owed and includes a financial creditor, an operational creditor, a secured creditor, an unsecured creditor and a decree-holder.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,156
306,306,What is the meaning of 'insolvency professional agency' as per the given document?,Any person registered with the Board under section 201 as an insolvency professional agency.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,92
307,307,What is the definition of 'person' as per the given document?,"Includes an individual, Hindu Undivided Family, company, trust, partnership, limited liability partnership, and any other entity established by a statute, and includes a person resident outside India.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,200
308,308,What is the meaning of 'security interest' as per the given document?,"Right, title, or interest or a claim to property, created in favour of, or provided for a secured creditor by a transaction which secures payment or performance of an obligation, and includes mortgage, charge, hypothecation, assignment, and encumbrance or any other agreement or arrangement securing payment or performance of any obligation of any person.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,355
309,309,What is the meaning of 'financial creditor' as per the given document?,Any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,128
310,310,What is the meaning of 'financial debt' as per the given document?,"A debt alongwith interest, if any, which is disbursed against the consideration for the time value of money, and includes money borrowed against the payment of interest, any amount raised by acceptance under any acceptance credit facility or its dematerialised equivalent, and other specified transactions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,306
311,311,What is the meaning of 'initiation date' as per the given document?,"The date on which a financial creditor, corporate applicant or operational creditor, as the case may be, makes an application to the Adjudicating Authority for initiating corporate insolvency resolution process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,211
312,312,What is the meaning of 'insolvency commencement date' as per the given document?,"The date of admission of an application for initiating corporate insolvency resolution process by the Adjudicating Authority under sections 7, 9 or section 10, as the case may be.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,179
313,313,What is the meaning of 'information utility' as per the given document?,A person who is registered with the Board as an information utility under section 210.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,86
314,314,What is the meaning of 'notification' as per the given document?,"A notification published in the Official Gazette, and the terms 'notified' and 'notify' shall be construed accordingly.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,119
315,315,What is the meaning of 'specified' as per the given document?,"Specified by regulations made by the Board under this Code, and the term 'specify' shall be construed accordingly.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,114
316,316,What is the meaning of 'interim finance' in the context of the insolvency resolution process?,"Interim finance means any financial debt raised by the resolution professional during the insolvency resolution process period, and such other debt as may be notified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,167
317,317,What is the definition of 'liquidation cost' in the context of the insolvency resolution process?,"Liquidation cost means any cost incurred by the liquidator during the period of liquidation, subject to such regulations as may be specified by the Board.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,154
318,318,Who is considered a 'related party' in relation to a corporate debtor?,"A related party means a director or partner of the corporate debtor or a relative of a director or partner of the corporate debtor, among other definitions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,156
319,319,What is the meaning of 'operational creditor' in the context of the insolvency resolution process?,An operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,158
320,320,What is the definition of 'resolution plan' in the context of the insolvency resolution process?,"A resolution plan means a plan proposed by a resolution applicant for insolvency resolution of the corporate debtor as a going concern in accordance with Part II, and may include provisions for the restructuring of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,236
321,321,Who is considered a 'resolution applicant' in the context of the insolvency resolution process?,"A resolution applicant means a person, who individually or jointly with any other person, submits a resolution plan to the resolution professional pursuant to the invitation made under clause (h) of sub-section (2) of section 25.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,229
322,322,What is the meaning of 'voting share' in the context of the insolvency resolution process?,"Voting share means the share of the voting rights of a single financial creditor in the committee of creditors, which is based on the proportion of the financial debt owed to such creditor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,189
323,323,What is the definition of 'personal guarantor' in the context of the insolvency resolution process?,A personal guarantor means an individual who is the surety in a contract of guarantee to a corporate debtor.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,108
324,324,What is the meaning of 'liquidation commencement date' in the context of the insolvency resolution process?,"Liquidation commencement date means the date on which proceedings for liquidation commence in accordance with section 33 or section 59, as the case may be.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,155
325,325,Who is considered a 'related party' in relation to an individual in the context of the insolvency resolution process?,"A related party means a person who is a relative of the individual or a relative of the spouse of the individual, among other definitions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,138
326,326,Who can initiate a corporate insolvency resolution process under the Insolvency and Bankruptcy Code?,"A financial creditor, an operational creditor, or the corporate debtor itself can initiate a corporate insolvency resolution process under the Insolvency and Bankruptcy Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,174
327,327,What is the procedure for a financial creditor to initiate a corporate insolvency resolution process?,"A financial creditor can initiate a corporate insolvency resolution process by filing an application with the Adjudicating Authority, accompanied by a record of the default, the name of the proposed resolution professional, and any other information as may be specified by the Board.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,283
328,328,What is the role of the Adjudicating Authority in the corporate insolvency resolution process?,"The Adjudicating Authority shall ascertain the existence of a default within 14 days of receiving the application, and if satisfied that a default has occurred, may admit the application and initiate the corporate insolvency resolution process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,244
329,329,Can an operational creditor initiate a corporate insolvency resolution process?,"Yes, an operational creditor can initiate a corporate insolvency resolution process by delivering a demand notice to the corporate debtor and filing an application with the Adjudicating Authority if the debtor fails to pay the unpaid operational debt within 10 days.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,266
330,330,What is the procedure for an operational creditor to initiate a corporate insolvency resolution process?,"An operational creditor can initiate a corporate insolvency resolution process by delivering a demand notice to the corporate debtor, and if the debtor fails to pay the unpaid operational debt within 10 days, filing an application with the Adjudicating Authority, accompanied by a copy of the invoice or demand notice, an affidavit, and a copy of the certificate from the financial institution confirming non-payment of the debt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,429
331,331,What are the conditions for the Adjudicating Authority to admit an application for corporate insolvency resolution process initiated by an operational creditor?,"The Adjudicating Authority shall admit the application if the application is complete, there is no payment of the unpaid operational debt, the invoice or notice for payment has been delivered to the corporate debtor, no notice of dispute has been received, and there is no disciplinary proceeding pending against the proposed resolution professional.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,350
332,332,What is the time limit for the Adjudicating Authority to ascertain the existence of a default in a corporate insolvency resolution process initiated by a financial creditor?,The Adjudicating Authority shall ascertain the existence of a default within 14 days of receiving the application.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,114
333,333,Can a financial creditor file an application for corporate insolvency resolution process jointly with other financial creditors?,"Yes, a financial creditor can file an application for corporate insolvency resolution process jointly with other financial creditors, and in certain cases, the application must be filed jointly by not less than 100 creditors or 10% of the total number of creditors in the same class, whichever is less.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,302
334,334,What is the role of the resolution professional in the corporate insolvency resolution process?,"The resolution professional is responsible for managing the corporate insolvency resolution process, and the Adjudicating Authority shall appoint an interim resolution professional if the application is admitted.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,212
335,335,Can the Adjudicating Authority reject an application for corporate insolvency resolution process initiated by a financial creditor or operational creditor?,"Yes, the Adjudicating Authority can reject an application for corporate insolvency resolution process if the application is incomplete, there is no default, or if there is a disciplinary proceeding pending against the proposed resolution professional.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,251
336,336,What are the conditions under which the Adjudicating Authority may reject an application for initiating corporate insolvency resolution process?,"The Adjudicating Authority may reject an application if it is incomplete or if any disciplinary proceeding is pending against the proposed resolution professional, provided that the Authority gives a notice to the applicant to rectify the defects in the application within seven days from the date of receipt of such notice.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,324
337,337,What is the time-limit for completion of the corporate insolvency resolution process?,"The corporate insolvency resolution process shall be completed within a period of one hundred and eighty days from the date of admission of the application to initiate such process, which can be extended by a further period not exceeding ninety days, but not more than once.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,274
338,338,Who is not entitled to make an application to initiate corporate insolvency resolution process?,"A corporate debtor undergoing a corporate insolvency resolution process, a corporate debtor having completed corporate insolvency resolution process twelve months preceding the date of making of the application, a corporate debtor or a financial creditor who has violated any of the terms of resolution plan which was approved twelve months before the date of making of an application, and a corporate debtor in respect of whom a liquidation order has been made, are not entitled to make an application.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,503
339,339,What is the effect of the suspension of initiation of corporate insolvency resolution process?,"No application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed for any default arising on or after 25th March, 2020 for a period of six months or such further period, not exceeding one year from such date, as may be notified, and no application shall ever be filed for initiation of corporate insolvency resolution process of a corporate debtor for the said default occurring during the said period.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,446
340,340,"What is the process for withdrawal of an application admitted under section 7, 9 or 10?","The Adjudicating Authority may allow the withdrawal of an application admitted under section 7 or section 9 or section 10, on an application made by the applicant with the approval of ninety per cent voting share of the committee of creditors, in such manner as may be specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,279
341,341,What is the role of the interim resolution professional in the corporate insolvency resolution process?,"The Adjudicating Authority shall appoint an interim resolution professional in the manner as laid down in section 16, who shall manage the affairs of the corporate debtor and carry out the corporate insolvency resolution process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,229
342,342,What is the purpose of the public announcement of the initiation of corporate insolvency resolution process?,The public announcement is to call for the submission of claims under section 15 and to inform the public about the initiation of the corporate insolvency resolution process.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,174
343,343,What is the period within which the Adjudicating Authority shall dispose of an application for initiating corporate insolvency resolution process?,The Adjudicating Authority shall dispose of an application for initiating corporate insolvency resolution process within a period of fourteen days of the receipt of the application.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,181
344,344,What is the effect of the completion of the corporate insolvency resolution process within the specified period?,"If the corporate insolvency resolution process is completed within the specified period, the Adjudicating Authority shall, by an order, either approve the resolution plan or order the liquidation of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,220
345,345,What is the role of the committee of creditors in the corporate insolvency resolution process?,"The committee of creditors shall consist of financial creditors of the corporate debtor and shall have the power to approve or reject a resolution plan, and to extend the period of the corporate insolvency resolution process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,225
346,346,What is the purpose of the public announcement referred to in clause (b) of sub-section (1) of section 13?,"The public announcement is made to declare the moratorium for prohibiting all suits or proceedings against the corporate debtor, including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,250
347,347,What is the effect of the moratorium on the supply of essential goods or services to the corporate debtor?,The supply of essential goods or services to the corporate debtor shall not be terminated or suspended or interrupted during the moratorium period.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,147
348,348,Who is responsible for managing the affairs of the corporate debtor during the corporate insolvency resolution process?,The interim resolution professional is responsible for managing the affairs of the corporate debtor during the corporate insolvency resolution process.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,151
349,349,What are the duties of the interim resolution professional?,"The interim resolution professional shall perform the following duties: collect all information relating to the assets, finances and operations of the corporate debtor, receive and collate all claims submitted by creditors, constitute a committee of creditors, monitor the assets of the corporate debtor and manage its operations until a resolution professional is appointed by the committee of creditors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,405
350,350,What is the term of the interim resolution professional?,The term of the interim resolution professional shall continue till the date of appointment of the resolution professional under section 22.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,140
351,351,Who is responsible for appointing the interim resolution professional?,The Adjudicating Authority shall appoint an interim resolution professional on the insolvency commencement date.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,112
352,352,What is the effect of the moratorium on the corporate debtor's assets?,"The moratorium prohibits the transfer, encumbrance, alienation or disposal of the corporate debtor's assets or any legal right or beneficial interest therein.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,158
353,353,"Can the corporate debtor's licenses, permits, registrations, quotas, concessions or clearances be suspended or terminated during the moratorium period?","No, the corporate debtor's licenses, permits, registrations, quotas, concessions or clearances shall not be suspended or terminated on the grounds of insolvency, subject to the condition that there is no default in payment of current dues arising for the use or continuation of the license or a similar grant or right during the moratorium period.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,347
354,354,What is the purpose of the public announcement under section 15?,The public announcement under section 15 is made to inform the public about the corporate insolvency resolution process and to invite claims from creditors.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,156
355,355,What are the consequences of making a false or misleading claim during the corporate insolvency resolution process?,The public announcement under section 15 shall specify the penalties for false or misleading claims.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,100
356,356,What are the duties of the interim resolution professional under clause (e) of section 20?,"The interim resolution professional shall file information collected with the information utility, if necessary; and take control and custody of any asset over which the corporate debtor has ownership rights as recorded in the balance sheet of the corporate debtor, or with information utility or the depository of securities or any other registry that records the ownership of assets.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,385
357,357,"What is the definition of 'assets' for the purposes of section 19, and what assets are excluded from this definition?",The term 'assets' shall not include assets owned by a third party in possession of the corporate debtor held under trust or under contractual arrangements including bailment; assets of any Indian or foreign subsidiary of the corporate debtor; and such other assets as may be notified by the Central Government in consultation with any financial sector regulator.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,362
358,358,What is the role of the personnel of the corporate debtor in assisting the interim resolution professional?,"The personnel of the corporate debtor, its promoters or any other person associated with the management of the corporate debtor shall extend all assistance and cooperation to the interim resolution professional as may be required by him in managing the affairs of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,285
359,359,"How is the committee of creditors constituted, and what are its functions?",The committee of creditors shall comprise all financial creditors of the corporate debtor. The committee of creditors shall have the right to require the resolution professional to furnish any financial information in relation to the corporate debtor at any time during the corporate insolvency resolution process.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,314
360,360,What is the role of the authorised representative in representing financial creditors in the committee of creditors?,"The authorised representative shall attend the meetings of the committee of creditors, and vote on behalf of each financial creditor to the extent of his voting share. The remuneration payable to the authorised representative shall be as per the terms of the financial debt or the relevant documentation.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,304
361,361,"How are decisions taken by the committee of creditors, and what is the voting share required for a decision to be valid?",All decisions of the committee of creditors shall be taken by a vote of not less than fifty-one per cent of voting share of the financial creditors. The Board may specify the manner of voting and the determining of the voting share in respect of financial debts covered under sub-sections (6) and (6A).,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,302
362,362,What is the role of the interim resolution professional in managing the operations of the corporate debtor as a going concern?,"The interim resolution professional shall make every endeavour to protect and preserve the value of the property of the corporate debtor and manage the operations of the corporate debtor as a going concern. The interim resolution professional shall have the authority to appoint accountants, legal or other professionals as may be necessary, and to enter into contracts on behalf of the corporate debtor or to amend or modify the contracts or transactions which were entered into before the commencement of corporate insolvency resolution process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,547
363,363,"How is the voting share of financial creditors determined, and what is the role of the authorised representative in this process?","The voting share of financial creditors shall be determined on the basis of the financial debts owed to them. The authorised representative shall act on behalf of each financial creditor to the extent of his voting share, and shall attend the meetings of the committee of creditors and vote on behalf of each financial creditor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,328
364,364,What is the role of the Adjudicating Authority in the corporate insolvency resolution process?,The Adjudicating Authority shall have the power to direct personnel or other persons to comply with the instructions of the resolution professional and to cooperate with him in collection of information and management of the corporate debtor. The Adjudicating Authority shall also have the power to appoint an authorised representative to act on behalf of financial creditors.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,376
365,365,"What is the purpose of section 21, and what are the key provisions of this section?","The purpose of section 21 is to provide for the constitution of a committee of creditors, which shall comprise all financial creditors of the corporate debtor. The key provisions of this section include the constitution of the committee of creditors, the role of the authorised representative, and the manner of voting and determining the voting share of financial creditors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,375
366,366,What is the time period within which the resolution professional shall make available any financial information required by the committee of creditors?,Within a period of seven days of such requisition.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,50
367,367,How shall the committee of creditors resolve to appoint the interim resolution professional as a resolution professional or to replace the interim resolution professional by another resolution professional?,By a majority vote of not less than sixty-six percent of the voting share of the financial creditors.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,101
368,368,What is the duty of the resolution professional in case of an appointment under sub-section (4) of section 22?,"To provide all the information, documents, and records pertaining to the corporate debtor in his possession and knowledge to the resolution professional.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,153
369,369,How shall the resolution professional conduct meetings of the committee of creditors?,"The resolution professional shall give notice of each meeting of the committee of creditors to members of the committee of creditors, including authorized representatives, members of the suspended Board of Directors or partners of the corporate persons, and operational creditors or their representatives.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,305
370,370,What is the duty of the resolution professional in preserving and protecting the assets of the corporate debtor?,"To take immediate custody and control of all the assets of the corporate debtor, including business records, and represent and act on behalf of the corporate debtor with third parties.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,184
371,371,Who shall determine the voting share to be assigned to each creditor in the committee of creditors?,The resolution professional shall determine the voting share to be assigned to each creditor in the manner specified by the Board.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,130
372,372,What is the duty of the authorized representative of financial creditors in meetings of the committee of creditors?,"To participate and vote in meetings of the committee of creditors on behalf of the financial creditor he represents, in accordance with prior voting instructions obtained through physical or electronic means.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,208
373,373,How shall the authorized representative of financial creditors cast his vote on behalf of the financial creditors he represents?,"The authorized representative shall cast his vote in respect of each financial creditor in accordance with instructions received from each financial creditor, to the extent of his voting share.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,193
374,374,What is the duty of the resolution professional in raising interim finances?,The resolution professional shall raise interim finances subject to the approval of the committee of creditors under section 28.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,128
375,375,What is the duty of the resolution professional in maintaining an updated list of claims?,The resolution professional shall maintain an updated list of claims.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,69
376,376,What is the impact of filing an avoidance application under clause (j) of sub-section (2) of section 25 on the corporate insolvency resolution process?,The filing of an avoidance application shall not affect the proceedings of the corporate insolvency resolution process.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,119
377,377,What is the process for replacing a resolution professional appointed under section 22?,"The committee of creditors may replace the resolution professional with another resolution professional by a vote of sixty-six per cent of voting shares, subject to a written consent from the proposed resolution professional.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,225
378,378,What actions require prior approval of the committee of creditors during the corporate insolvency resolution process?,"The resolution professional shall not take any of the following actions without the prior approval of the committee of creditors: raise any interim finance, create any security interest over the assets of the corporate debtor, change the capital structure of the corporate debtor, and others.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,292
379,379,What is the requirement for a resolution applicant to submit a resolution plan?,"A person shall not be eligible to submit a resolution plan if such person is an undischarged insolvent, a wilful defaulter, or has an account classified as a non-performing asset, among other conditions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,203
380,380,What is the process for preparing an information memorandum for formulating a resolution plan?,The resolution professional shall prepare an information memorandum in such form and manner containing such relevant information as may be specified by the Board.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,162
381,381,What is the requirement for a resolution applicant to have access to relevant information?,"The resolution professional shall provide to the resolution applicant access to all relevant information in physical and electronic form, provided the resolution applicant undertakes to comply with provisions of law relating to confidentiality and insider trading.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,264
382,382,What is the process for convening a meeting of the committee of creditors to approve actions under sub-section (1) of section 28?,The resolution professional shall convene a meeting of the committee of creditors and seek the vote of the creditors prior to taking any of the actions under sub-section (1).,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,174
383,383,What is the voting requirement for approval of actions under sub-section (1) of section 28?,No action under sub-section (1) shall be approved by the committee of creditors unless approved by a vote of sixty-six per cent of the voting shares.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,149
384,384,What is the consequence of taking an action without seeking the approval of the committee of creditors?,"Where any action is taken by the resolution professional without seeking the approval of the committee of creditors, such action shall be void.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,143
385,385,What is the requirement for a resolution applicant to be eligible to submit a resolution plan?,"A person shall be eligible to submit a resolution plan if such person is not an undischarged insolvent, a wilful defaulter, or has an account classified as a non-performing asset, among other conditions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,203
386,386,What are the conditions that disqualify a person from being a resolution applicant under the Insolvency and Bankruptcy Code?,"The conditions include being an undischarged insolvent, having been convicted of certain offenses, being a willful defaulter, being a promoter or in management or control of a corporate debtor that has been subject to certain orders or actions, having executed a guarantee in favor of a creditor, being subject to any disability under any law in a jurisdiction outside India, and having a connected person not eligible under these clauses.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,439
387,387,What is the definition of a 'connected person' for the purposes of eligibility to be a resolution applicant?,"A connected person means any person who is the promoter or in the management or control of the resolution applicant, or who shall be the promoter or in management or control of the business of the corporate debtor during the implementation of the resolution plan, or the holding company, subsidiary company, associate company or related party of such person.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,358
388,388,What is the requirement for a resolution applicant to submit a resolution plan to the resolution professional?,"The resolution applicant must submit a resolution plan along with an affidavit stating that they are eligible under section 29A to the resolution professional, prepared on the basis of the information memorandum.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,212
389,389,What are the conditions that the resolution professional must confirm each resolution plan received by him meets?,"The conditions include that the plan provides for the payment of insolvency resolution process costs in a manner specified by the Board in priority to the payment of other debts of the corporate debtor, and that the plan provides for the payment of debts of operational creditors and financial creditors in a manner specified by the Board, which shall not be less than the amount to be paid to such creditors in the event of a liquidation of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,463
390,390,What is the role of the Board in specifying the manner of payment of debts of operational creditors and financial creditors?,"The Board may specify the manner of payment of debts of operational creditors and financial creditors, which shall not be less than the amount to be paid to such creditors in the event of a liquidation of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,226
391,391,What is the requirement for the implementation of actions under the resolution plan?,"The implementation of actions under the resolution plan must not contravene any of the provisions of the law for the time being in force, and if any approval of shareholders is required under the Companies Act, 2013 or any other law for the time being in force, such approval shall be deemed to have been given.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,311
392,392,What is the role of the resolution professional in presenting the resolution plan to the committee of creditors?,The resolution professional shall present to the committee of creditors for its approval the resolution plan that meets the conditions specified in the Insolvency and Bankruptcy Code.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,183
393,393,What is the definition of a 'financial entity' for the purposes of eligibility to be a resolution applicant?,"A financial entity means an entity that meets such criteria or conditions as the Central Government may notify in this behalf, including a scheduled bank, an entity regulated by a foreign central bank or a securities market regulator, an investment vehicle, an asset reconstruction company, an Alternate Investment Fund, and such categories of persons as may be notified by the Central Government.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,397
394,394,What is the requirement for the payment of debts of financial creditors who do not vote in favor of the resolution plan?,The payment of debts of financial creditors who do not vote in favor of the resolution plan shall not be less than the amount to be paid to such creditors in accordance with sub-section (1) of section 53 in the event of a liquidation of the corporate debtor.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,258
395,395,"What is the effect of the commencement of the Insolvency and Bankruptcy Code (Amendment) Act, 2019 on the corporate insolvency resolution process?","The provisions of this clause shall also apply to the corporate insolvency resolution process of a corporate debtor where a resolution plan has not been approved or rejected by the Adjudicating Authority, or where an appeal has been preferred under section 61 or section 62 or such an appeal is not time barred under any provision of law for the time being in force.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,366
396,396,What is the percentage of voting share of financial creditors required for the committee of creditors to approve a resolution plan?,66% (sixty-six percent),76b5b16aec39d2b0e3a20c15f907f0ac.pdf,23
397,397,What are the requirements that the committee of creditors must consider while approving a resolution plan?,"The committee of creditors must consider the feasibility and viability of the resolution plan, the manner of distribution proposed, which may take into account the order of priority amongst creditors as laid down in sub-section (1) of section 53, including the priority and value of the security interest of a secured creditor, and such other requirements as may be specified by the Board.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,389
398,398,Can the resolution applicant attend the meeting of the committee of creditors in which the resolution plan of the applicant is considered?,"Yes, the resolution applicant may attend the meeting of the committee of creditors in which the resolution plan of the applicant is considered, but the resolution applicant shall not have a right to vote at the meeting of the committee of creditors unless such resolution applicant is also a financial creditor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,311
399,399,What happens to the moratorium order passed by the Adjudicating Authority under section 14 after the order of approval under sub-section (1) of section 31?,The moratorium order passed by the Adjudicating Authority under section 14 shall cease to have effect after the order of approval under sub-section (1) of section 31.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,166
400,400,Within what period must the resolution applicant obtain the necessary approval required under any law for the time being in force pursuant to the resolution plan approved under sub-section (1) of section 31?,"The resolution applicant must obtain the necessary approval required under any law for the time being in force within a period of one year from the date of approval of the resolution plan by the Adjudicating Authority under sub-section (1) or within such period as provided for in such law, whichever is later.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,310
401,401,What happens to the liability of a corporate debtor for an offence committed prior to the commencement of the corporate insolvency resolution process if the resolution plan results in the change in management or control of the corporate debtor to a person who was not involved in the commission of the offence?,"The liability of the corporate debtor for an offence committed prior to the commencement of the corporate insolvency resolution process shall cease, and the corporate debtor shall not be prosecuted for such an offence from the date the resolution plan has been approved by the Adjudicating Authority under section 31.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,317
402,402,Can any action be taken against the property of the corporate debtor in relation to an offence committed prior to the commencement of the corporate insolvency resolution process if such property is covered under a resolution plan approved by the Adjudicating Authority under section 31?,"No action shall be taken against the property of the corporate debtor in relation to an offence committed prior to the commencement of the corporate insolvency resolution process if such property is covered under a resolution plan approved by the Adjudicating Authority under section 31, which results in the change in control of the corporate debtor to a person who was not involved in the commission of the offence.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,417
403,403,Who shall continue to be liable to be prosecuted and punished for an offence committed by the corporate debtor notwithstanding that the corporate debtor’s liability has ceased under section 32A?,"Every person who was a “designated partner” as defined in clause (j) of section 2 of the Limited Liability Partnership Act, 2008 or an “officer who is in default”, as defined in clause (60) of section 2 of the Companies Act, 2013, or was in any manner in-charge of, or responsible to the corporate debtor for the conduct of its business or associated with the corporate debtor in any manner and who was directly or indirectly involved in the commission of such offence as per the report submitted or complaint filed by the investigating authority, shall continue to be liable to be prosecuted and punished for such an offence committed by the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,660
404,404,What is the manner in which an appeal from an order approving the resolution plan shall be made?,Any appeal from an order approving the resolution plan shall be in the manner and on the grounds laid down in sub-section (3) of section 61.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,140
405,405,What happens to the records relating to the conduct of the corporate insolvency resolution process and the resolution plan after the order of approval under sub-section (1) of section 31?,The resolution professional shall forward all records relating to the conduct of the corporate insolvency resolution process and the resolution plan to the Board to be recorded on its database after the order of approval under sub-section (1) of section 31.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,257
406,406,What are the powers and duties of the liquidator subject to the directions of the Adjudicating Authority?,"The liquidator has powers and duties including verifying claims of creditors, taking custody of assets, evaluating assets, protecting and preserving assets, carrying on the business of the corporate debtor, selling immovable and movable property, drawing negotiable instruments, taking out letter of administration, obtaining professional assistance, inviting and settling claims of creditors, and distributing proceeds.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,420
407,407,What is the composition of the liquidation estate in relation to the corporate debtor?,"The liquidation estate comprises all liquidation estate assets including assets over which the corporate debtor has ownership rights, assets that may or may not be in possession of the corporate debtor, tangible and intangible assets, assets subject to determination of ownership by the court or authority, and any other property belonging to or vested in the corporate debtor at the insolvency commencement date.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,413
408,408,What are the powers of the liquidator to access information for the purpose of admission and proof of claims and identification of the liquidation estate assets?,"The liquidator has the power to access information systems from various sources including information utilities, credit information systems, government agencies, and databases maintained by the Board, for the purpose of admission and proof of claims and identification of the liquidation estate assets.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,302
409,409,How can a financial creditor submit a claim to the liquidator?,"A financial creditor may submit a claim to the liquidator by providing a record of such claim with an information utility, or if the information is not recorded in the information utility, by submitting the claim in the same manner as provided for operational creditors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,270
410,410,What is the time period within which a creditor can withdraw or vary their claim?,A creditor can withdraw or vary their claim within fourteen days of its submission.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,83
411,411,What is the role of the liquidator in relation to the verification of claims submitted under section 38?,The liquidator shall verify the claims submitted under section 38 within such time as specified by the Board.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,109
412,412,Can the liquidator sell the immovable and movable property of the corporate debtor in liquidation to any person?,"No, the liquidator shall not sell the immovable and movable property or actionable claims of the corporate debtor in liquidation to any person who is not eligible to be a resolution applicant.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,192
413,413,What are the assets that shall not be included in the liquidation estate assets and shall not be used for recovery in the liquidation?,"Assets owned by a third party which are in possession of the corporate debtor, assets in security collateral held by financial services providers, personal assets of any shareholder or partner of the corporate debtor, and any other assets as may be specified by the Board.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,272
414,414,"Can the liquidator institute or defend any suit, prosecution or other legal proceedings in the name of or on behalf of the corporate debtor?","Yes, the liquidator can institute or defend any suit, prosecution or other legal proceedings, civil or criminal, in the name of or on behalf of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,165
415,415,What is the role of the liquidator in relation to the distribution of proceeds in accordance with the provisions of the Code?,The liquidator shall invite and settle claims of creditors and distribute proceeds in accordance with the provisions of the Code.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,129
416,416,What is the power of the liquidator in relation to verifying claims under section 39?,The liquidator may require any creditor or the corporate debtor or any other person to produce any other document or evidence which he thinks necessary for the purpose of verifying the whole or any part of the claim.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,216
417,417,What is the process for admission or rejection of claims by the liquidator?,"The liquidator may, after verification of claims under section 39, either admit or reject the claim, in whole or in part, as the case may be, and shall communicate his decision of admission or rejection of claims to the creditor and corporate debtor within seven days of such admission or rejection of claims.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,309
418,418,How is the value of claims admitted under section 40 determined?,The liquidator shall determine the value of claims admitted under section 40 in such manner as may be specified by the Board.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,125
419,419,What is the process for appealing against the decision of the liquidator?,A creditor may appeal to the Adjudicating Authority against the decision of the liquidator accepting or rejecting the claims within fourteen days of the receipt of such decision.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,178
420,420,What constitutes a preferential transaction under section 43?,"A corporate debtor shall be deemed to have given a preference, if there is a transfer of property or an interest thereof of the corporate debtor for the benefit of a creditor or a surety or a guarantor for or on account of an antecedent financial debt or operational debt or other liabilities owed by the corporate debtor, and the transfer has the effect of putting such creditor or a surety or a guarantor in a beneficial position than it would have been in the event of a distribution of assets being made in accordance with section 53.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,538
421,421,What are the exceptions to the definition of a preferential transaction under section 43?,"A preference shall not include the following transfers: (a) transfer made in the ordinary course of the business or financial affairs of the corporate debtor or the transferee; (b) any transfer creating a security interest in property acquired by the corporate debtor to the extent that such security interest secures new value and was given at the time of or after the signing of a security agreement that contains a description of such property as security interest, and was used by corporate debtor to acquire such property.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,527
422,422,What is the relevant time for determining preferential transactions under section 43?,"A preference shall be deemed to be given at a relevant time, if it is given to a related party during the period of two years preceding the insolvency commencement date, or to a person other than a related party during the period of one year preceding the insolvency commencement date.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,285
423,423,What orders can the Adjudicating Authority make in case of preferential transactions under section 44?,"The Adjudicating Authority may, on an application made by the resolution professional or liquidator, by an order: (a) require any property transferred in connection with the giving of the preference to be vested in the corporate debtor; (b) require any property to be so vested if it represents the application either of the proceeds of sale of property so transferred or of money so transferred; (c) release or discharge any security interest created by the corporate debtor; and (d) require any person to pay such sums in respect of benefits received by him from the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,586
424,424,What constitutes an undervalued transaction under section 45?,"A transaction shall be considered undervalued where the corporate debtor makes a gift to a person, or enters into a transaction with a person which involves the transfer of one or more assets by the corporate debtor for a consideration the value of which is significantly less than the value of the consideration provided by the corporate debtor, and such transaction has not taken place in the ordinary course of business of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,447
425,425,What is the relevant period for avoiding undervalued transactions under section 46?,"In an application for avoiding a transaction at undervalue, the liquidator or the resolution professional shall demonstrate that such transaction was made with any person within the period of one year preceding the insolvency commencement date, or with a related party within the period of two years preceding the insolvency commencement date.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,343
426,426,"What are the options available to a secured creditor in liquidation proceedings under Section 52 of the Insolvency and Bankruptcy Code, 2016?","A secured creditor may relinquish its security interest to the liquidation estate and receive proceeds from the sale of assets by the liquidator, or realise its security interest in the manner specified in the section.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,218
427,427,"What is the order of priority for the distribution of assets under Section 53 of the Insolvency and Bankruptcy Code, 2016?",The proceeds from the sale of liquidation assets shall be distributed in the following order of priority: (a) insolvency resolution process costs and liquidation costs; (b) workmen’s dues and debts owed to secured creditors; (c) wages and unpaid dues owed to employees; (d) financial debts owed to unsecured creditors; (e) dues to Central and State Governments; and (f) remaining debts and dues.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,395
428,428,"Can a contractual arrangement between recipients with equal ranking disrupt the order of priority under Section 53 of the Insolvency and Bankruptcy Code, 2016?","No, any contractual arrangement between recipients with equal ranking that disrupts the order of priority under Section 53 shall be disregarded by the liquidator.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,162
429,429,"What happens to the proceeds of the realisation of secured assets under Section 52 of the Insolvency and Bankruptcy Code, 2016?","If the proceeds of the realisation of secured assets exceed the debts due to the secured creditor, the surplus amount shall be accounted to the liquidator and tendered to the liquidator for inclusion in the liquidation estate.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,226
430,430,"Can the Adjudicating Authority pass an order to facilitate a secured creditor to realise its security interest under Section 52 of the Insolvency and Bankruptcy Code, 2016?","Yes, if a secured creditor faces resistance from the corporate debtor or any person connected therewith in taking possession of, selling, or otherwise disposing off the security, the Adjudicating Authority may pass an order to facilitate the secured creditor to realise its security interest in accordance with law.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,315
431,431,"What is the effect of an order under Section 49 of the Insolvency and Bankruptcy Code, 2016, on the interests of persons who are victims of transactions defrauding creditors?",An order under Section 49 shall protect the interests of persons who are victims of transactions defrauding creditors and restore the position as it existed before the transaction was entered into.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,197
432,432,"Can a secured creditor relinquish its security interest to the liquidation estate and receive proceeds from the sale of assets by the liquidator under Section 52 of the Insolvency and Bankruptcy Code, 2016?","Yes, a secured creditor may relinquish its security interest to the liquidation estate and receive proceeds from the sale of assets by the liquidator in the manner specified in Section 53.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,188
433,433,"What happens to the debts of a secured creditor who realises its security interest under Section 52 of the Insolvency and Bankruptcy Code, 2016?","If the proceeds of the realisation of secured assets are not sufficient to repay the debts of the secured creditor, the unpaid debts shall be paid by the liquidator in the manner specified in clause (e) of sub-section (1) of Section 53.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,236
434,434,"What is the definition of 'workmen’s dues' under Section 53 of the Insolvency and Bankruptcy Code, 2016?","The term 'workmen’s dues' has the same meaning as assigned to it in section 326 of the Companies Act, 2013.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,107
435,435,"Can the Adjudicating Authority make an order under Section 51 of the Insolvency and Bankruptcy Code, 2016, to restore the position as it existed prior to an extortionate credit transaction?","Yes, if the Adjudicating Authority is satisfied that the terms of a credit transaction required exorbitant payments to be made by the corporate debtor, it shall pass an order to restore the position as it existed prior to such transaction.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,239
436,436,"What is the purpose of Chapter IV of the Insolvency and Bankruptcy Code, 2016?","Chapter IV deals with the Fast Track Corporate Insolvency Resolution Process, which is a quicker and more efficient process for resolving the insolvency of corporate debtors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,174
437,437,Who can initiate the Fast Track Corporate Insolvency Resolution Process?,"An application for the Fast Track Corporate Insolvency Resolution Process may be made by a creditor or the corporate debtor itself, provided it meets the eligibility criteria specified in the Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,197
438,438,What are the conditions that must be met for a corporate person to undergo voluntary liquidation?,"A corporate person can undergo voluntary liquidation if it has not committed any default, and it meets the conditions and procedural requirements specified by the Board, including passing a special resolution in a general meeting and obtaining the approval of creditors representing two-thirds in value of the debt of the company.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,330
439,439,What is the role of the National Company Law Tribunal in relation to insolvency resolution and liquidation for corporate persons?,"The National Company Law Tribunal is the Adjudicating Authority for insolvency resolution and liquidation for corporate persons, and it has territorial jurisdiction over the place where the registered office of the corporate person is located.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,243
440,440,Can the Adjudicating Authority extend the period of the Fast Track Corporate Insolvency Resolution Process beyond 90 days?,"Yes, the Adjudicating Authority can extend the period of the Fast Track Corporate Insolvency Resolution Process beyond 90 days by a further period of up to 45 days, but not exceeding 45 days, if it is satisfied that the subject matter of the case is such that the process cannot be completed within 90 days.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,307
441,441,What happens to the corporate person after the completion of the voluntary liquidation proceedings?,"After the completion of the voluntary liquidation proceedings, the liquidator makes an application to the Adjudicating Authority for the dissolution of the corporate person, and the Adjudicating Authority passes an order dissolving the corporate person from the date of the order.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,280
442,442,Can a corporate guarantor or personal guarantor of a corporate debtor be subject to insolvency resolution or liquidation proceedings?,"Yes, a corporate guarantor or personal guarantor of a corporate debtor can be subject to insolvency resolution or liquidation proceedings, and such proceedings can be filed before the National Company Law Tribunal dealing with the insolvency resolution process or liquidation proceeding of the corporate debtor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,311
443,443,What is the role of the liquidator in the voluntary liquidation process?,"The liquidator is responsible for making an application to the Adjudicating Authority for the dissolution of the corporate person after the completion of the voluntary liquidation proceedings, and for forwarding a copy of the order to the authority with which the corporate person is registered.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,295
444,444,Can the National Company Law Tribunal entertain or dispose of any application or proceeding by or against a corporate debtor or corporate person?,"Yes, the National Company Law Tribunal has jurisdiction to entertain or dispose of any application or proceeding by or against a corporate debtor or corporate person, including claims made by or against any of its subsidiaries situated in India.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,245
445,445,What is the limitation period for filing a suit or application by or against a corporate debtor for which an order of moratorium has been passed?,"Notwithstanding anything contained in the Limitation Act, 1963 or in any other law for the time being in force, the limitation period for filing a suit or application by or against a corporate debtor for which an order of moratorium has been passed is suspended during the period of the moratorium.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,298
446,446,What is the period within which an appeal can be filed against an order of the Adjudicating Authority under this part?,"Thirty days, which can be extended by fifteen days if sufficient cause is shown.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,80
447,447,What are the grounds on which an appeal can be filed against an order approving a resolution plan under section 31?,"An appeal can be filed on the grounds that the approved resolution plan is in contravention of the provisions of any law for the time being in force, there has been material irregularity in exercise of the powers by the resolution professional during the corporate insolvency resolution period, the debts owed to operational creditors of the corporate debtor have not been provided for in the resolution plan in the manner specified by the Board, the insolvency resolution process costs have not been provided for repayment in priority to all other debts, or the resolution plan does not comply with any other criteria specified by the Board.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,642
448,448,Can a civil court or authority entertain any suit or proceedings in respect of any matter on which National Company Law Tribunal or the National Company Law Appellate Tribunal has jurisdiction under this Code?,"No, civil court or authority shall not have jurisdiction to entertain any suit or proceedings in respect of any matter on which National Company Law Tribunal or the National Company Law Appellate Tribunal has jurisdiction under this Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,238
449,449,What is the period within which an application must be disposed of or order must be passed by the National Company Law Tribunal or the National Company Law Appellate Tribunal?,"The period specified in the Code, which can be extended by the President of the National Company Law Tribunal or the Chairperson of the National Company Law Appellate Tribunal, as the case may be, for a further period not exceeding ten days.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,241
450,450,Can any person initiate the insolvency resolution process or liquidation proceedings fraudulently or with malicious intent?,"No, if any person initiates the insolvency resolution process or liquidation proceedings fraudulently or with malicious intent, the Adjudicating Authority may impose a penalty which shall not be less than one lakh rupees, but may extend to one crore rupees.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,257
451,451,What is the consequence of a person carrying on the business of the corporate debtor with intent to defraud creditors of the corporate debtor or for any fraudulent purpose?,The Adjudicating Authority may pass an order that any persons who were knowingly parties to the carrying on of the business in such manner shall be liable to make such contributions to the assets of the corporate debtor as it may deem fit.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,239
452,452,Can a director or partner of the corporate debtor be held liable for any losses incurred by the creditors of the corporate debtor?,"Yes, if the director or partner knew or ought to have known that there was no reasonable prospect of avoiding the commencement of a corporate insolvency resolution process in respect of the corporate debtor, and did not exercise due diligence in minimising the potential loss to the creditors of the corporate debtor, they may be held liable to make such contribution to the assets of the corporate debtor as the Adjudicating Authority may deem fit.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,449
453,453,What is the time limit for filing an appeal to the Supreme Court against an order of the National Company Law Appellate Tribunal?,"Forty-five days from the date of receipt of the order, which can be extended by fifteen days if sufficient cause is shown.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,122
454,454,Can an application be filed under sub-section (2) of section 66 in respect of a default against which the initiation of a corporate insolvency resolution process is suspended as per section 10A?,"No, an application under sub-section (2) of section 66 cannot be filed in respect of a default against which the initiation of a corporate insolvency resolution process is suspended as per section 10A.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,201
455,455,What is the power of the Adjudicating Authority in relation to the enforcement of any charge imposed under section 67?,"The Adjudicating Authority may give such further directions as may be necessary for enforcing any charge imposed under section 67, including providing for the liability of any person under the order to be a charge on any debt or obligation due from the corporate debtor to him.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,277
456,456,What is the punishment for concealment of property by an officer of the corporate debtor?,"Imprisonment for a term of not less than three years, but which may extend to five years, and with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,199
457,457,What is the punishment for transactions defrauding creditors by an officer of the corporate debtor?,"Imprisonment for a term which shall not be less than one year, but which may extend to five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,207
458,458,What is the punishment for misconduct in course of corporate insolvency resolution process by an officer of the corporate debtor?,"Imprisonment for a term which shall not be less than three years, but which may extend to five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,210
459,459,What is the punishment for falsification of books of corporate debtor?,"Imprisonment for a term which shall not be less than three years, but which may extend to five years, and with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,211
460,460,What is the punishment for wilful and material omissions from statements relating to affairs of corporate debtor by an officer of the corporate debtor?,"Imprisonment for a term which shall not be less than three years, but which may extend to five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,210
461,461,What is the punishment for false representations to creditors by an officer of the corporate debtor?,"Imprisonment for a term which shall not be less than three years, but may extend to five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,204
462,462,What is the punishment for contravention of moratorium or the resolution plan by the corporate debtor or its officers?,"Imprisonment for a term which shall not be less than three years, but may extend to five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,204
463,463,What is the punishment for false information furnished in an application under section 7?,"Fine which shall not be less than one lakh rupees, but may extend to one crore rupees.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,86
464,464,What is the punishment for non-disclosure of dispute or payment of debt by operational creditor?,"No specific punishment is mentioned, but the operational creditor may be subject to penalties and fines.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,104
465,465,What is the punishment for an insolvency professional who deliberately contravenes the provisions of the Insolvency and Bankruptcy Code?,"Imprisonment for a term which may extend to six months, or with fine which shall not be less than one lakh rupees, but may extend to five lakh rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,164
466,466,What is the punishment for an operational creditor or person who provides false information in an application made by a corporate debtor?,"Imprisonment for a term which shall not be less than three years, but which may extend to five years and with fine which shall not be less than one lakh rupees, but which may extend to one crore rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,216
467,467,What is the minimum amount of default required for an individual or partnership firm to be eligible for insolvency resolution and bankruptcy under Part III of the Code?,"One thousand rupees, however, the Central Government may specify a higher minimum amount of default not exceeding one lakh rupees.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,130
468,468,Who is considered an associate of the debtor under the Code?,"An associate of the debtor includes a person who belongs to the immediate family of the debtor, a relative of the debtor, a person who is in partnership with the debtor, an employer or employee of the debtor, and others as specified in the Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,245
469,469,What is meant by 'bankrupt' under the Code?,"A debtor who has been adjudged as bankrupt by a bankruptcy order under section 126, each of the partners of a firm where a bankruptcy order has been made against the firm, and any person adjudged as an undischarged insolvent.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,225
470,470,What is the meaning of 'excluded assets' under the Code?,"Excluded assets include unencumbered tools, books, vehicles, and other equipment necessary for the debtor's personal use or employment, furniture and household equipment for basic domestic needs, personal ornaments of a certain value, life insurance policies, and a single dwelling unit of a prescribed value.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,309
471,471,What is meant by 'qualifying debt' under the Code?,"A qualifying debt means an amount due, including interest, owed by the debtor for a liquidated sum, excluding excluded debt, debt to the extent it is secured, and debt incurred three months prior to the date of the application for fresh start process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,251
472,472,Who is eligible to make an application for a fresh start under Chapter II of the Code?,"A debtor who is unable to pay his debt and fulfills certain conditions, including a gross annual income not exceeding sixty thousand rupees, aggregate value of assets not exceeding twenty thousand rupees, and aggregate value of qualifying debts not exceeding thirty-five thousand rupees.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,287
473,473,What is the effect of filing an application for a fresh start under section 80 of the Code?,"An interim moratorium commences on the date of filing, staying any legal action or proceeding pending in respect of any debt, and no creditor can initiate any legal action or proceeding during the moratorium period.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,215
474,474,What information must be provided in an application for a fresh start under section 80 of the Code?,"The application must contain a list of all debts owed by the debtor, interest payable, names of creditors, financial information of the debtor and his immediate family, and other prescribed details, supported by an affidavit.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,225
475,475,What is the purpose of a repayment plan under the Code?,"A repayment plan is a proposal to the committee of creditors for restructuring of the debtor's debts or affairs, prepared by the debtor in consultation with the resolution professional under section 105.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,203
476,476,What are the particulars that the debtor needs to provide in an application for a fresh start order under section 80?,"The debtor needs to provide particulars including the reasons for making the application, any legal proceedings commenced against him, and confirmation that no previous fresh start order has been made in respect of the qualifying debts of the debtor in the preceding 12 months.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,277
477,477,What is the role of the Adjudicating Authority in appointing a resolution professional under section 82?,The Adjudicating Authority directs the Board to confirm the appointment of the resolution professional or reject the appointment and nominate a new resolution professional. The Adjudicating Authority then appoints the resolution professional recommended or nominated by the Board.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,280
478,478,What is the scope of the examination of the application by the resolution professional under section 83?,The resolution professional examines the application to determine the amounts that are qualifying debts and liabilities eligible for discharge under section 92. The resolution professional may also call for further information or explanation from the debtor or other persons.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,275
479,479,What are the grounds on which the resolution professional may reject the application under section 83?,"The resolution professional may reject the application if the debtor does not satisfy the conditions specified under section 80, the debts disclosed in the application are not qualifying debts, or the debtor has deliberately made a false representation or omission in the application or with respect to the documents or information submitted.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,342
480,480,What is the effect of the admission of the application by the Adjudicating Authority under section 84?,"The admission of the application triggers the commencement of the moratorium period, during which any pending legal action or legal proceeding in respect of any debt is stayed, and creditors are prohibited from initiating any legal action or proceedings in respect of any debt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,277
481,481,What are the restrictions on the debtor during the moratorium period under section 85?,"The debtor is prohibited from acting as a director of any company, disposing of or alienating any assets, and is required to inform business partners and disclose the name under which he enters into business transactions. The debtor is also prohibited from traveling outside India without permission.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,300
482,482,What are the grounds on which a creditor may object to the order admitting the application under section 86?,A creditor may object to the order on the grounds of inclusion of a debt as a qualifying debt or incorrectness of the details of the qualifying debt specified in the order.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,172
483,483,What is the role of the resolution professional in examining objections under section 86?,"The resolution professional examines the objections and either accepts or rejects them, and may also examine any matter that appears to be relevant to the making of a final list of qualifying debts for the purposes of section 92.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,229
484,484,What are the grounds on which the debtor or creditor may challenge the decision of the resolution professional under section 87?,"The debtor or creditor may challenge the decision on the grounds that the resolution professional did not give an opportunity to make a representation, colluded with the other party, or did not comply with the requirements of section 86.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,237
485,485,What are the general duties of the debtor under section 88?,"The debtor is required to comply with the requirements of the fresh start process, including providing information and explanation to the resolution professional, and is prohibited from acting as a director of any company, disposing of or alienating any assets, and is required to inform business partners and disclose the name under which he enters into business transactions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,377
486,486,What are the obligations of a debtor in relation to the fresh start process?,"The debtor must make available to the resolution professional all information relating to his affairs, attend meetings and comply with the requests of the resolution professional in relation to the fresh start process, and inform the resolution professional as soon as reasonably possible of any material error or omission in relation to the information or document supplied to the resolution professional, or any change in financial circumstances after the date of application.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,478
487,487,How can a debtor or creditor apply for the replacement of a resolution professional?,"A debtor or creditor can apply to the Adjudicating Authority for the replacement of the resolution professional, and the Adjudicating Authority shall within seven days of the receipt of the application make a reference to the Board for replacement of the resolution professional.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,279
488,488,What directions can the Adjudicating Authority give to a resolution professional who has been replaced?,"The Adjudicating Authority may give directions to the resolution professional replaced to share all information with the new resolution professional in respect of the fresh start process, and to co-operate with the new resolution professional in such matters as may be required.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,278
489,489,On what grounds can the resolution professional submit an application for revocation of the order admitting the application?,"The resolution professional may submit an application for revocation of the order admitting the application on the grounds that the debtor is ineligible for a fresh start process due to a change in financial circumstances, non-compliance by the debtor of the restrictions imposed, or if the debtor has acted in a mala fide manner and has wilfully failed to comply with the provisions of the Chapter.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,399
490,490,What happens when a discharge order is passed by the Adjudicating Authority?,"When a discharge order is passed by the Adjudicating Authority, the debtor is discharged from the qualifying debts mentioned in the list, and from penalties, interest, and other sums owed under any contract in respect of the qualifying debts from the date of application till the date of the discharge order.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,308
491,491,Who is eligible to apply for initiating an insolvency resolution process?,"A debtor who commits a default may apply to the Adjudicating Authority for initiating an insolvency resolution process, but the debtor must not be an undischarged bankrupt, undergoing a fresh start process, undergoing an insolvency resolution process, or undergoing a bankruptcy process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,287
492,492,What information must a creditor provide when applying for initiating an insolvency resolution process?,"A creditor must provide details and documents relating to the debts owed by the debtor to the creditor, the failure by the debtor to pay the debt within a period of fourteen days of the service of the notice of demand, and relevant evidence of such default or non-repayment of debt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,282
493,493,What happens when an application for initiating an insolvency resolution process is filed?,"When an application for initiating an insolvency resolution process is filed, an interim-moratorium commences on the date of the application and ceases to have effect on the date of admission of such application.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,212
494,494,What is the standard of conduct that a resolution professional must follow?,A resolution professional must perform his functions and duties in compliance with the code of conduct provided under section 208.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,130
495,495,What happens to a pending legal action or proceeding in respect of any debt during the interim-moratorium period?,Any pending legal action or proceeding in respect of any debt shall be deemed to have been stayed during the interim-moratorium period.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,135
496,496,What happens to the application under section 94 or 95 if it is filed through a resolution professional?,The Adjudicating Authority shall direct the Board within seven days of the date of the application to confirm that there are no disciplinary proceedings pending against the resolution professional.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,197
497,497,Who shall nominate a resolution professional for the insolvency resolution process if the application is filed by the debtor or the creditor himself?,The Board shall nominate a resolution professional within ten days of receiving the direction issued by the Adjudicating Authority under sub-section (3) of section 97.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,167
498,498,What is the role of the resolution professional in examining an application under section 94 or 95?,"The resolution professional shall examine the application and ascertain that the application satisfies the requirements set out in section 94 or 95, and that the applicant has provided information and given explanation sought by the resolution professional under sub-section (4) of section 99.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,293
499,499,Can the Adjudicating Authority give directions to the resolution professional replaced under sub-section (7) of section 98?,"Yes, the Adjudicating Authority may give directions to the resolution professional replaced under sub-section (7) of section 98 to share all information with the new resolution professional in respect of the insolvency resolution process and to co-operate with the new resolution professional in such matters as may be required.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,328
500,500,What happens when the application is admitted under section 100?,"When the application is admitted under section 100, a moratorium shall commence in relation to all the debts and shall cease to have effect at the end of the period of one hundred and eighty days beginning with the date of admission of the application or on the date the Adjudicating Authority passes an order on the repayment plan under section 114, whichever is earlier.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,372
501,501,What is the purpose of the public notice issued by the Adjudicating Authority under section 102?,The public notice is issued to invite claims from all creditors within twenty-one days of the issue of the notice.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,114
502,502,Can the debtor dispute the validity of a debt registered with the information utility?,"No, the debtor shall not be entitled to dispute the validity of such debt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,74
503,503,What happens if the application referred to in section 94 or 95 is rejected by the Adjudicating Authority?,"If the application referred to in section 94 or 95 is rejected by the Adjudicating Authority on the basis of the report submitted by the resolution professional or that the application was made with the intention to defraud his creditors or the resolution professional, the order under sub-section (1) shall record that the creditor is entitled to file for a bankruptcy order under Chapter IV.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,393
504,504,Can the creditors apply to the Adjudicating Authority for replacement of the resolution professional?,"Yes, the creditors may apply to the Adjudicating Authority for replacement of the resolution professional where it has been decided in the meeting of the creditors, to replace the resolution professional with a new resolution professional for implementation of the repayment plan.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,280
505,505,What is the role of the Board in the appointment of a resolution professional?,"The Board shall confirm that there are no disciplinary proceedings pending against the resolution professional, and shall communicate to the Adjudicating Authority in writing either confirming the appointment of the resolution professional or rejecting the appointment of the resolution professional and nominating another resolution professional for the insolvency resolution process.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,385
506,506,"What is the process for registering claims by creditors, and what additional information must be provided by the creditor?","The creditors shall register claims with the resolution professional by sending details of the claims by way of electronic communications or through courier, speed post or registered letter. In addition to the claims referred to in sub-section (1), the creditor shall provide to the resolution professional, personal information and such particulars as may be prescribed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,371
507,507,"What is the purpose of the repayment plan, and what are the requirements for its preparation?","The repayment plan is a proposal to the creditors for restructuring of the debtor's debts or affairs. It must be prepared in consultation with the resolution professional and must include a justification for preparation of such repayment plan, provision for payment of fee to the resolution professional, and such other matters as may be specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,348
508,508,"What is the role of the resolution professional in relation to the repayment plan, and what must be included in their report?","The resolution professional shall submit the repayment plan along with his report to the Adjudicating Authority within a period of twenty-one days from the last date of submission of claims. The report must include a statement that the repayment plan is in compliance with the provisions of any law for the time being in force, has a reasonable prospect of being approved and implemented, and that there is a necessity of summoning a meeting of the creditors, if required.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,472
509,509,"What is the process for summoning a meeting of creditors, and what information must be included in the notice?","The resolution professional shall issue a notice calling the meeting of the creditors at least fourteen days before the date fixed for such meeting. The notice must state the address of the Adjudicating Authority to which the repayment plan and report of the resolution professional on the repayment plan has been submitted, and must be accompanied by a copy of the repayment plan, a copy of the statement of affairs of the debtor, a copy of the report of the resolution professional, and forms for proxy voting.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,512
510,510,What are the rights of secured creditors in relation to the repayment plan?,Secured creditors shall be entitled to participate and vote in the meetings of the creditors. A secured creditor participating in the meetings of the creditors and voting in relation to the repayment plan shall forfeit his right to enforce the security during the period of the repayment plan in accordance with the terms of the repayment plan.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,344
511,511,What is the process for approving or rejecting the repayment plan by creditors?,The repayment plan or any modification to the repayment plan shall be approved by a majority of more than three-fourth in value of the creditors present in person or by proxy and voting on the resolution in a meeting of the creditors.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,234
512,512,What must be included in the report of the meeting of creditors on the repayment plan?,"The report must contain whether the repayment plan was approved or rejected and if approved, the list of the modifications, if any, the resolutions which were proposed at the meeting and the decision on such resolutions, list of the creditors who were present or represented at the meeting, and the voting records of each creditor for all meetings of the creditors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,365
513,513,What is the process for providing notice of decisions taken at the meeting of creditors?,"The resolution professional shall provide a copy of the report of the meeting of creditors to the debtor, the creditors, including those who were not present at the meeting, and the Adjudicating Authority.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,205
514,514,What is the role of the Adjudicating Authority in relation to the repayment plan?,The Adjudicating Authority shall by an order approve or reject the repayment plan on the basis of the report of the meeting of the creditors submitted by the resolution professional.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,182
515,515,What is the purpose of the list of creditors prepared by the resolution professional?,The list of creditors shall be prepared by the resolution professional on the basis of the information disclosed in the application filed by the debtor and the claims received by the resolution professional.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,207
516,516,What is the provision for the Adjudicating Authority to pass an order on the basis of a report prepared by the resolution professional under section 106?,"Provided that where a meeting of creditors is not summoned, the Adjudicating Authority shall pass an order on the basis of the report prepared by the resolution professional under section 106.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,192
517,517,What is the effect of the Adjudicating Authority's order approving the repayment plan?,The repayment plan shall take effect as if proposed by the debtor in the meeting and be binding on creditors mentioned in the repayment plan and the debtor.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,156
518,518,Who supervises the implementation of the repayment plan?,The resolution professional appointed under section 97 or under section 98 shall supervise the implementation of the repayment plan.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,132
519,519,What happens if the repayment plan is not fully implemented within the specified period?,The repayment plan shall be deemed to have come to an end prematurely if it has not been fully implemented in respect of all persons bound by it within the period as mentioned in the repayment plan.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,198
520,520,Who can apply for a bankruptcy order under Chapter IV?,"The debtor or the creditor, whose claims under repayment plan have not been fully satisfied, shall be entitled to apply for a bankruptcy order under Chapter IV.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,160
521,521,What is the standard of conduct for the resolution professional?,The resolution professional shall perform his functions and duties in compliance with the code of conduct provided under section 208.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,133
522,522,Who can make an application for bankruptcy of a debtor?,"An application for bankruptcy of a debtor may be made, by a creditor individually or jointly with other creditors or by a debtor, to the Adjudicating Authority.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,160
523,523,What are the circumstances under which an application for bankruptcy can be made?,"An application for bankruptcy can be made where an order has been passed by an Adjudicating Authority under sub-section 4 of section 100, or where an order has been passed by an Adjudicating Authority under sub-section 2 of section 115, or where an order has been passed by an Adjudicating Authority under sub-section 3 of section 118.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,335
524,524,What is required to be accompanied with an application for bankruptcy by the creditor?,"An application for bankruptcy by the creditor shall be accompanied by the records of insolvency resolution process undertaken under Chapter III, a copy of the order passed by the Adjudicating Authority under Chapter III permitting the creditor to apply for bankruptcy, details of the debts owed by the debtor to the creditor as on the date of the application for bankruptcy, and such other information as may be prescribed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,423
525,525,Can an application for bankruptcy be withdrawn without permission?,"No, an application for bankruptcy by the debtor or creditor shall not be withdrawn without the leave of the Adjudicating Authority or without the permission of the Adjudicating Authority, respectively.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,201
526,526,What happens to the properties of the debtor when an application is filed under sections 122 or 123?,"An interim-moratorium commences on the date of the making of the application on all actions against the properties of the debtor in respect of his debts, and such moratorium shall cease to have effect on the bankruptcy commencement date.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,237
527,527,What is the role of the Adjudicating Authority in relation to the appointment of an insolvency professional as bankruptcy trustee?,"The Adjudicating Authority shall direct the Board within seven days of receiving the application for bankruptcy to confirm that there are no disciplinary proceedings against the proposed insolvency professional, and the Board shall confirm or reject the appointment within ten days.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,282
528,528,What is the effect of a bankruptcy order on the estate of the bankrupt?,"The estate of the bankrupt shall vest in the bankruptcy trustee, and the estate of the bankrupt shall be divided among his creditors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,133
529,529,Can a creditor initiate any action against the property of the bankrupt after a bankruptcy order has been passed?,"No, a creditor of the bankrupt indebted in respect of any debt claimed as a bankruptcy debt shall not initiate any action against the property of the bankrupt in respect of such debt, except with the leave of the Adjudicating Authority and on such terms as the Adjudicating Authority may impose.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,295
530,530,What is the role of the bankruptcy trustee in relation to the statement of financial position of the bankrupt?,The bankruptcy trustee may require the bankrupt or any other person to submit in writing further information explaining or modifying any matter contained in the statement of financial position.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,193
531,531,How does the Adjudicating Authority invite claims from creditors after a bankruptcy order has been passed?,"The Adjudicating Authority shall send notices to the creditors mentioned in the statement of affairs or the application for bankruptcy, and issue a public notice inviting claims from creditors, which shall be published in leading newspapers and on the website of the Adjudicating Authority.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,290
532,532,What is the process for registering claims with the bankruptcy trustee?,"The creditors shall register claims with the bankruptcy trustee within seven days of the publication of the public notice, by sending details of the claims to the bankruptcy trustee in such manner as may be prescribed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,218
533,533,How does the bankruptcy trustee prepare a list of creditors of the bankrupt?,"The bankruptcy trustee shall prepare a list of creditors of the bankrupt on the basis of the information disclosed by the bankrupt in the application for bankruptcy and the statement of affairs, and claims received by the bankruptcy trustee.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,241
534,534,What is the purpose of the meeting of creditors summoned by the bankruptcy trustee?,The meeting of creditors is summoned to establish a committee of creditors and to transact any other business that the bankruptcy trustee thinks fit to be transacted.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,166
535,535,What are the voting rights of creditors in the meeting of creditors?,"Every creditor mentioned in the list or his proxy shall be entitled to vote, and the voting rights shall be exercised in such manner and form as may be specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,162
536,536,What is the process for determining the voting share of each creditor in a meeting of creditors?,The resolution professional shall determine the voting share to be assigned to each creditor in the manner specified by the Board.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,130
537,537,Who is not entitled to vote in respect of a debt for an unliquidated amount?,A creditor shall not be entitled to vote in respect of a debt for an unliquidated amount.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,89
538,538,What is the role of the bankruptcy trustee in the administration and distribution of the estate of the bankrupt?,The bankruptcy trustee shall conduct the administration and distribution of the estate of the bankrupt in accordance with the provisions of Chapter V.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,150
539,539,What is the process for the bankruptcy trustee to convene a meeting of the committee of creditors on completion of the administration and distribution of the estate of the bankrupt?,The bankruptcy trustee shall convene a meeting of the committee of creditors on completion of the administration and distribution of the estate of the bankrupt in accordance with the provisions of Chapter V.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,207
540,540,Who is responsible for approving the report submitted by the bankruptcy trustee under sub-section (2) of section 137?,The committee of creditors shall approve the report submitted by the bankruptcy trustee under sub-section (2) within seven days of the receipt of the report and determine whether the bankruptcy trustee should be released under section 148.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,239
541,541,What is the effect of a discharge order on the bankrupt?,"The discharge order under sub-section (2) of section 138 shall release the bankrupt from all the bankruptcy debts, except for debts incurred by means of fraud or breach of trust.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,178
542,542,What are the disqualifications that a bankrupt is subject to from the bankruptcy commencement date?,"A bankrupt shall, from the bankruptcy commencement date, be subject to the disqualifications mentioned in section 140, including being disqualified from being appointed or acting as a trustee or representative in respect of any trust, estate or settlement.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,256
543,543,What are the restrictions that a bankrupt is subject to from the bankruptcy commencement date?,"A bankrupt, from the bankruptcy commencement date, shall not act as a director of any company, or directly or indirectly take part in or be concerned in the promotion, formation or management of a company, among other restrictions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,231
544,544,"Who can modify or recall a bankruptcy order, and under what circumstances?","The Adjudicating Authority may, on an application or suo motu, modify or recall a bankruptcy order, whether or not the bankrupt is discharged, if it appears to the Adjudicating Authority that there exists an error apparent on the face of such order or that both the bankruptcy debts and the expenses of the bankruptcy have, after the making of the bankruptcy order, either been paid for or secured to the satisfaction of the Adjudicating Authority.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,448
545,545,What is the process for replacing a bankruptcy trustee?,"The Committee of creditors may, at a meeting, by a vote of seventy-five per cent. of voting share, propose to replace the bankruptcy trustee appointed under section 125 with another bankruptcy trustee, and the Adjudicating Authority shall appoint the bankruptcy trustee as recommended by the Board within fourteen days of receiving such recommendation.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,352
546,546,What are the circumstances under which a bankruptcy trustee may resign?,"A bankruptcy trustee may resign if he intends to cease practising as an insolvency professional, or if there is a conflict of interest or change of personal circumstances that preclude the further discharge of his duties as a bankruptcy trustee.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,245
547,547,What is the process for filling a vacancy in the office of a bankruptcy trustee?,"If a vacancy occurs in the office of the bankruptcy trustee for any reason other than his replacement or resignation, the Adjudicating Authority shall direct the Board for replacement of a bankruptcy trustee, and the Board shall recommend a bankruptcy trustee as a replacement within ten days.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,293
548,548,What are the duties of a bankrupt towards the bankruptcy trustee?,"The bankrupt shall assist the bankruptcy trustee in carrying out his functions by giving information, attending on the bankruptcy trustee, giving notice of any events that have occurred after the bankruptcy commencement date, and doing all other things as may be prescribed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,274
549,549,What are the rights of a bankruptcy trustee for the purpose of performing his functions?,"The bankruptcy trustee may hold property, make contracts, sue and be sued, enter into engagements, employ persons to assist him, execute any power of attorney, deed or other instrument, and do any other act necessary or expedient for the purposes of or in connection with the exercise of his rights.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,299
550,550,What are the general powers of a bankruptcy trustee while discharging his functions?,"The bankruptcy trustee may sell any part of the estate of the bankrupt, give receipts for any money received, prove, rank, claim and draw a dividend in respect of debts due to the bankrupt, exercise the right of redemption in respect of any property, and deal with any property comprised in the estate of the bankrupt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,318
551,551,Under what circumstances may a bankruptcy trustee carry on the business of the bankrupt?,"The bankruptcy trustee may carry on any business of the bankrupt as far as may be necessary for winding it up beneficially, but only after procuring the approval of the committee of creditors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,192
552,552,What is the process for releasing a bankruptcy trustee from his office?,"A bankruptcy trustee shall be released from his office with effect from the date on which the Adjudicating Authority passes an order appointing a new bankruptcy trustee in the event of replacement, resignation, or occurrence of vacancy under sections 145, 146, or 147.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,268
553,553,What are the functions of a bankruptcy trustee in accordance with the provisions of Chapter V?,"The bankruptcy trustee shall investigate the affairs of the bankrupt, realise the estate of the bankrupt, and distribute the estate of the bankrupt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,148
554,554,What is the effect of a bankruptcy trustee's resignation on his duties?,"Notwithstanding the release of a bankruptcy trustee, he shall share all information with the new bankruptcy trustee in respect of the bankruptcy process and co-operate with the new bankruptcy trustee in such matters as may be required.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,235
555,555,What is the time limit for a bankrupt to give notice of any events that have occurred after the bankruptcy commencement date?,"The bankrupt shall give notice of the increase in income or acquisition or devolution of property within seven days of such increase, acquisition, or devolution.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,161
556,556,What is the role of the bankruptcy trustee in relation to the estate of the bankrupt?,"The bankruptcy trustee shall take possession and control of all property, books, papers and other records relating to the estate of the bankrupt or affairs of the bankrupt which belong to him or are in his possession or under his control.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,238
557,557,What are the powers of the bankruptcy trustee in relation to the estate of the bankrupt?,"The bankruptcy trustee may exercise the following powers: (a) to manage and realise the estate of the bankrupt; (b) to compromise or other arrangement as may be considered expedient, with the creditors; (c) to appoint the bankrupt to supervise the management of the estate of the bankrupt or any part of it; (d) to make payments or incur liabilities with a view to obtaining, for the benefit of the creditors, any property which is the subject of any right, option or power.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,474
558,558,What is included in the estate of the bankrupt?,The estate of the bankrupt shall include: (a) all property belonging to or vested in the bankrupt at the bankruptcy commencement date; (b) the capacity to exercise and to initiate proceedings for exercising all such powers in or over or in respect of property as might have been exercised by the bankrupt for his own benefit at the bankruptcy commencement date or before the date of the discharge order passed under section 138; and (c) all property which by virtue of any of the provisions of this Chapter is comprised in the estate.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,534
559,559,What is not included in the estate of the bankrupt?,"The estate of the bankrupt shall not include: (a) excluded assets; (b) property held by the bankrupt on trust for any other person; (c) all sums due to any workman or employee from the provident fund, the pension fund and the gratuity fund; and (d) such assets as may be notified by the Central Government in consultation with any financial sector regulator.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,358
560,560,What is the effect of the bankruptcy trustee's notice of disclaimer in relation to onerous property?,"A notice of disclaimer under section 160 shall: (a) determine, as from the date of such notice, the rights, interests and liabilities of the bankrupt in respect of the onerous property disclaimed; (b) discharge the bankruptcy trustee from all personal liability in respect of the onerous property as from the date of appointment of the bankruptcy trustee.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,355
561,561,What is the definition of onerous property?,"Onerous property means: (i) any unprofitable contract; and (ii) any other property comprised in the estate of the bankrupt which is unsaleable or not readily saleable, or is such that it may give rise to a claim.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,212
562,562,Can the bankruptcy trustee disclaim any leasehold interest?,"The bankruptcy trustee shall not be entitled to disclaim any leasehold interest, unless a notice of disclaimer has been served on every interested person and: (a) no application objecting to the disclaimer by the interested person, has been filed with respect to the leasehold interest, within fourteen days of the date on which notice was served; and (b) where the application objecting to the disclaimer has been filed by the interested person, the Adjudicating Authority has directed under section 163 that the disclaimer shall take effect.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,543
563,563,What is the effect of the bankruptcy trustee's notice of claim in relation to after-acquired property?,"The bankruptcy trustee shall be entitled to claim for the estate of the bankrupt, any after-acquired property by giving a notice to the bankrupt, but shall not be entitled to claim from any person who has acquired any right over after-acquired property, in good faith, for value and without notice of the bankruptcy.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,316
564,564,What is the definition of after-acquired property?,After-acquired property means any property which has been acquired by or has devolved upon the bankrupt after the bankruptcy commencement date.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,143
565,565,Can the bankruptcy trustee disclaim any property without giving a notice of disclaimer?,No notice of disclaimer under section 160 shall be necessary if: (a) a person interested in the onerous property has applied in writing to the bankruptcy trustee or his predecessor requiring him to decide whether the onerous property should be disclaimed or not; and (b) a decision under clause (a) has not been taken by the bankruptcy trustee within seven days of receipt of the notice.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,387
566,566,"What is the purpose of Section 163, and who can make an application under this section to the Adjudicating Authority?","The purpose of Section 163 is to challenge against disclaimed property. An application under this section can be made by any person who claims an interest in the disclaimed property, or any person who is under any liability in respect of the disclaimed property, or any person who is in occupation of or entitled to occupy the disclaimed property if it is a dwelling house.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,373
567,567,"What is an undervalued transaction, and when can the bankruptcy trustee apply to the Adjudicating Authority for an order under Section 164?","An undervalued transaction is a transaction where the bankrupt has entered into a transaction with any person for a consideration, the value of which in money or money's worth is significantly less than the value in money or money's worth of the consideration provided by the bankrupt. The bankruptcy trustee can apply to the Adjudicating Authority for an order under Section 164 if the undervalued transaction was entered into during the period of two years ending on the filing of the application for bankruptcy.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,514
568,568,"What is the effect of an order passed by the Adjudicating Authority under Section 164 or Section 165, and what are the conditions that need to be satisfied for the order to be effective?","An order passed by the Adjudicating Authority under Section 164 or Section 165 shall not give rise to a right against a person interested in the property which was acquired in an undervalued transaction or a transaction giving preference. The order shall only be effective if the interest was acquired or the benefit was received in good faith, for value, without notice that the bankrupt entered into the transaction at an under-value or for giving preference, and without notice that the bankrupt has filed an application for bankruptcy or a bankruptcy order has been passed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,577
569,569,"What is the purpose of Section 165, and when can the bankruptcy trustee apply to the Adjudicating Authority for an order under this section?","The purpose of Section 165 is to deal with preference transactions. The bankruptcy trustee can apply to the Adjudicating Authority for an order under this section if a bankrupt has given a preference to any person. The transaction giving preference should have been entered into by the bankrupt during the period of two years ending on the date of the application for bankruptcy, and should have caused the bankruptcy process to be triggered.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,442
570,570,"What is an extortionate credit transaction, and when can the bankruptcy trustee apply to the Adjudicating Authority for an order under Section 167?","An extortionate credit transaction is a transaction for or involving the provision of credit to the bankrupt by any person on terms requiring the bankrupt to make exorbitant payments in respect of the credit provided, or which is unconscionable under the principles of law relating to contracts. The bankruptcy trustee can apply to the Adjudicating Authority for an order under Section 167 if the extortionate credit transaction was entered into by the bankrupt during the period of two years ending on the bankruptcy commencement date.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,536
571,571,"What is the effect of an order passed by the Adjudicating Authority under Section 167, and what are the powers of the Adjudicating Authority under this section?","An order passed by the Adjudicating Authority under Section 167 may set aside the whole or part of any debt created by the transaction, vary the terms of the transaction or vary the terms on which any security for the purposes of the transaction is held, require any person who has been paid by the bankrupt under any transaction to pay a sum to the bankruptcy trustee, or require any person to surrender to the bankruptcy trustee any property of the bankrupt held as security for the purposes of the transaction.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,513
572,572,What are the conditions that need to be satisfied for a transaction to be considered as an undervalued transaction under Section 164?,"For a transaction to be considered as an undervalued transaction under Section 164, it should have been entered into by the bankrupt during the period of two years ending on the filing of the application for bankruptcy, and should have caused the bankruptcy process to be triggered. Additionally, the transaction should have been entered into between the bankrupt and any person, and should have resulted in the bankrupt receiving less than the value of the consideration provided by the bankrupt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,497
573,573,"What is the effect of an order passed by the Adjudicating Authority under Section 165, and what are the conditions that need to be satisfied for the order to be effective?","An order passed by the Adjudicating Authority under Section 165 shall declare a transaction giving preference void, require any property transferred in respect of a transaction giving preference to be vested with the bankruptcy trustee as a part of the estate of the bankrupt, and pass any other order it thinks fit for restoring the position to what it would have been if the bankrupt had not entered into the transaction giving preference. The order shall only be effective if the bankrupt was influenced in his decision of giving preference to a person by a desire to produce in relation to that person an effect under clause (b) of sub-section (8).",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,652
574,574,"What are the powers of the Adjudicating Authority under Section 163, and what are the conditions that need to be satisfied for the Adjudicating Authority to pass an order under this section?","The Adjudicating Authority has the power to pass an order for the vesting of the disclaimed property in, or for its delivery to any of the persons mentioned in sub-section (1) of Section 163. The order shall only be passed if it appears to the Adjudicating Authority that it would be just to do so for the purpose of compensating the person.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,341
575,575,"What is the effect of an order passed by the Adjudicating Authority under Section 167, and what are the powers of the Adjudicating Authority under this section?","An order passed by the Adjudicating Authority under Section 167 may set aside the whole or part of any debt created by the transaction, vary the terms of the transaction or vary the terms on which any security for the purposes of the transaction is held, require any person who has been paid by the bankrupt under any transaction to pay a sum to the bankruptcy trustee, or require any person to surrender to the bankruptcy trustee any property of the bankrupt held as security for the purposes of the transaction.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,513
576,576,What is the purpose of section 113 of the bankruptcy code?,"This section applies where a contract has been entered into by the bankrupt with a person before the bankruptcy commencement date, and allows any party to the contract to apply to the Adjudicating Authority for an order discharging the obligations of the applicant or the bankrupt under the contract, and for payment of damages by the party or the bankrupt for non-performance of the contract or otherwise.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,406
577,577,What happens to bankruptcy proceedings if the bankrupt dies?,"The bankruptcy proceedings shall continue as if the bankrupt were alive, and the bankruptcy trustee shall administer the estate of the deceased bankrupt, having regard to the claims by the legal representative of the deceased bankrupt to payment of the proper funeral and testamentary expenses incurred by them.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,311
578,578,How does a creditor submit proof of debt to the bankruptcy trustee?,"The creditor shall submit proof of debt within fourteen days of preparing the list of creditors under section 132, and the proof of debt shall include full particulars of the debt, including the date on which the debt was contracted and the value at which that person assesses it, as well as full particulars of any security, including the date on which the security was given and the value at which that person assesses it.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,424
579,579,Can a creditor prove for a debt where payment would have become due at a date later than the bankruptcy commencement date?,"Yes, a creditor may prove for a debt where payment would have become due at a date later than the bankruptcy commencement date as if it were owed presently, and may receive dividends in a manner as may be prescribed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,216
580,580,What is the effect of a secured creditor realising their security on their claim against the bankrupt?,"Where a secured creditor realises their security, they may produce proof of the balance due to them, and if they surrender their security to the bankruptcy trustee for the general benefit of the creditors, they may produce proof of their whole claim.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,250
581,581,How does the bankruptcy trustee deal with mutual credit and set-off between the bankrupt and a creditor?,"The bankruptcy trustee shall take an account of what is due from each party to the other in respect of the mutual dealings, and set off the sums due from one party against the sums due from the other, and only the balance shall be provable as a bankruptcy debt or as the amount payable to the bankruptcy trustee as part of the estate of the bankrupt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,350
582,582,When can the bankruptcy trustee declare and distribute an interim dividend among the creditors?,"The bankruptcy trustee may declare and distribute an interim dividend among the creditors whenever he has sufficient funds in his hand, and shall give notice of such dividend and the manner in which it is proposed to be distributed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,232
583,583,How does the bankruptcy trustee distribute the property of the bankrupt among the creditors?,"The bankruptcy trustee may, with the approval of the committee of creditors, divide any property in its existing form amongst the creditors, according to its estimated value, and may sell or dispose of any property that was subject to a security, free of that security, if the secured creditor does not file a proof of security within thirty days after the date of service of the notice.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,387
584,584,What is the purpose of the final dividend in bankruptcy proceedings?,"The final dividend is declared by the bankruptcy trustee after he has realised the entire estate of the bankrupt or so much of it as could be realised, and shall be distributed among the creditors who have proved their debts, without regard to the claims of any other persons.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,276
585,585,What happens to any surplus remaining after payment in full to all creditors of the bankrupt and the payment of the expenses of the bankruptcy?,"Any surplus remaining after payment in full to all creditors of the bankrupt and the payment of the expenses of the bankruptcy shall be paid to the bankrupt, or if the bankruptcy order has been passed in respect of one partner in a firm, any surplus shall be distributed amongst the partners according to their rights and interests.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,332
586,586,What are the priority debts that shall be paid in the distribution of the final dividend?,"According to section 178(1), the following debts shall be paid in priority to all other debts: (a) the costs and expenses incurred by the bankruptcy trustee for the bankruptcy process in full; (b) the workmen’s dues for the period of twenty-four months preceding the bankruptcy commencement date; and debts owed to secured creditors.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,333
587,587,How shall debts of the same class be treated?,"According to section 178(2), debts of the same class shall rank equally amongst themselves and shall be paid in full, unless the estate of the bankrupt is insufficient to meet them, in which case they shall abate in equal proportions between themselves.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,253
588,588,Can a civil court or authority have jurisdiction over any matter on which the Debt Recovery Tribunal has jurisdiction?,"According to section 180(1), no civil court or authority shall have jurisdiction to entertain any suit or proceedings in respect of any matter on which the Debt Recovery Tribunal or the Debt Recovery Appellate Tribunal has jurisdiction under this Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,252
589,589,How long does an appeal from an order of the Debt Recovery Tribunal need to be filed?,"According to section 181(1), an appeal from an order of the Debt Recovery Tribunal shall be filed within thirty days before the Debt Recovery Appellate Tribunal.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,161
590,590,Can an appeal from an order of the Debt Recovery Appellate Tribunal be filed to the Supreme Court?,"According to section 182(1), an appeal from an order of the Debt Recovery Appellate Tribunal on a question of law under this Code shall be filed within forty-five days before the Supreme Court.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,193
591,591,What is the punishment for providing false information in any material particulars to the resolution professional?,"According to section 184(1), the punishment is imprisonment for a term which may extend to one year, or with fine which may extend to five lakh rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,165
592,592,What is the punishment for contravening the provisions of this Part by an insolvency professional?,"According to section 185, the punishment is imprisonment for a term which may extend to six months, or with fine, which shall not be less than one lakh rupees, but may extend to five lakhs rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,210
593,593,What is the punishment for a bankrupt who knowingly makes a false representation or wilfully omits or conceals any material information while making an application for bankruptcy?,"According to section 186(a), the punishment is imprisonment which may extend to six months, or with fine which may extend to five lakh rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,156
594,594,How shall surplus remaining after the payment of debts be applied?,"According to section 178(5), any surplus remaining after the payment of the debts under sub-section (1) shall be applied in paying interest on those debts in respect of the periods during which they have been outstanding since the bankruptcy commencement date.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,260
595,595,What is the role of the Debt Recovery Tribunal in entertaining an application under this Code regarding an individual debtor?,"According to section 179(1), the Debt Recovery Tribunal shall be the Adjudicating Authority in relation to insolvency matters of individuals and firms and shall have jurisdiction to entertain an application under this Code regarding an individual debtor who actually and voluntarily resides or carries on business or personally works for gain within its territorial jurisdiction.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,379
596,596,What is the punishment for a bankrupt who has absconded or attempts to abscond after the bankruptcy commencement date?,"He shall be punishable with imprisonment for a term which may extend to one year, or with fine, which may extend to five lakh rupees, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,147
597,597,"What is the punishment for a bankruptcy trustee who has fraudulently misapplied, retained or accounted for any money or property comprised in the estate of the bankrupt?","He shall be punishable with imprisonment for a term which may extend to three years, or with fine, which shall not be less than three times the amount of the loss caused, or likely to have been caused, to persons concerned on account of such contravention, or with both.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,270
598,598,What is the name of the body corporate established for the purposes of the Insolvency and Bankruptcy Code?,The Insolvency and Bankruptcy Board of India.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,45
599,599,Who shall be the members of the Insolvency and Bankruptcy Board of India?,"The Board shall consist of a Chairperson, three members from amongst the officers of the Central Government, one member to be nominated by the Reserve Bank of India, and five other members to be nominated by the Central Government.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,231
600,600,What is the term of office of the Chairperson and members of the Insolvency and Bankruptcy Board of India?,"The term of office of the Chairperson and members shall be five years or till they attain the age of sixty-five years, whichever is earlier, and they shall be eligible for re-appointment.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,187
601,601,On what grounds can a member of the Insolvency and Bankruptcy Board of India be removed from office?,"A member can be removed from office if he is an undischarged bankrupt, has become physically or mentally incapable of acting as a member, has been convicted of an offence involving moral turpitude, or has abused his position as to render his continuation in office detrimental to the public interest.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,300
602,602,What are the powers of the Chairperson of the Insolvency and Bankruptcy Board of India?,The Chairperson shall have powers of general superintendence and direction of the affairs of the Board and may also exercise such other powers as may be delegated to him by the Board.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,183
603,603,How shall the meetings of the Insolvency and Bankruptcy Board of India be conducted?,"The Board shall meet at such times and places, and observe such rules of procedure in regard to the transaction of business at its meetings, as may be determined by regulations.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,177
604,604,Can a member of the Insolvency and Bankruptcy Board of India participate in meetings where he has a direct or indirect pecuniary interest?,"No, any member who is a director of a company and who as such director has any direct or indirect pecuniary interest in any matter coming up for consideration at a meeting of the Board, shall disclose the nature of his interest at such meeting and shall not take any part in any deliberation or decision of the Board with respect to that matter.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,345
605,605,What is the power of the Central Government to designate a financial sector regulator to exercise the powers and functions of the Insolvency and Bankruptcy Board of India?,"Until the Board is established, the Central Government may by notification designate any financial sector regulator to exercise the powers and functions of the Board under this Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,182
606,606,"What is the role of the Board in specifying the minimum eligibility requirements for registration of insolvency professional agencies, insolvency professionals, and information utilities?","The Board specifies the minimum eligibility requirements for registration of insolvency professional agencies, insolvency professionals, and information utilities under clause (b) of Section 196.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,195
607,607,"What are the functions of the Board in relation to the functioning of insolvency professional agencies, insolvency professionals, and information utilities?","The Board specifies standards for the functioning of insolvency professional agencies, insolvency professionals, and information utilities under clause (d) of Section 196, and also monitors their performance and passes directions for compliance under clause (g) of Section 196.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,277
608,608,What is the role of the Board in relation to the collection and storage of data by information utilities?,The Board specifies the manner of collecting and storing data by the information utilities and for providing access to such data under clause (j) of Section 196.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,161
609,609,"What is the role of the Board in relation to the redressal of grievances against insolvency professionals, insolvency professional agencies, and information utilities?","The Board specifies the mechanism for redressal of grievances against insolvency professionals, insolvency professional agencies, and information utilities and passes orders relating to complaints filed against them under clause (q) of Section 196.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,248
610,610,"What is the role of the Board in relation to the conduct of periodic studies and research on the functioning of insolvency professional agencies, insolvency professionals, and information utilities?","The Board conducts periodic studies and research on the functioning of insolvency professional agencies, insolvency professionals, and information utilities under clause (r) of Section 196.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,189
611,611,What is the role of the Board in relation to the issuance of regulations and guidelines on matters relating to insolvency and bankruptcy?,"The Board makes regulations and guidelines on matters relating to insolvency and bankruptcy as may be required under this Code, including mechanism for time-bound disposal of the assets of the corporate debtor or debtor under clause (t) of Section 196.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,252
612,612,What is the role of the Board in relation to the constitution of advisory and executive committees or other committees?,"The Board may constitute advisory and executive committees or such other committees, as it may deem fit, consisting of a Chairperson and such other members as may be specified by regulations under Section 197.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,209
613,613,What is the role of the Board in relation to the condonation of delay in performing any act within the period specified under this Code?,"The Board may condone the delay in performing any act within the period specified under this Code, and the relevant Adjudicating Authority may also condone the delay for reasons to be recorded in writing under Section 198.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,222
614,614,What is the role of the Board in relation to the registration of insolvency professional agencies?,"The Board registers insolvency professional agencies under Section 199, and has regard to the principles specified under Section 200 while registering them.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,156
615,615,What is the role of the Board in relation to the application for registration of insolvency professional agencies?,"The Board receives applications for registration of insolvency professional agencies under Section 201, and acknowledges them within seven days of receipt.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,155
616,616,What is the process for granting a certificate of registration to an insolvency professional agency?,"The Board may grant a certificate of registration to the applicant in such form and manner and subject to such terms and conditions as may be specified, after being satisfied that the application conforms with all requirements specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,237
617,617,What are the grounds for suspending or canceling the certificate of registration of an insolvency professional agency?,"The Board may suspend or cancel the certificate of registration on grounds such as obtaining registration by making a false statement or misrepresentation, failing to comply with regulations, contravening provisions of the Act or rules, or on any other ground specified by regulations.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,285
618,618,What is the role of an insolvency professional in the insolvency resolution process?,"An insolvency professional shall take such actions as may be necessary in matters such as fresh start order process, individual insolvency resolution process, corporate insolvency resolution process, individual bankruptcy process, and liquidation of a corporate debtor firm.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,274
619,619,What are the obligations of an insolvency professional?,"An insolvency professional shall abide by a code of conduct, including taking reasonable care and diligence, complying with requirements and terms and conditions specified in the bye-laws of the insolvency professional agency, allowing the agency to inspect records, and submitting a copy of records to the Board and the agency.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,328
620,620,What is the process for registering an information utility?,"Every application for registration shall be made to the Board in such form and manner, containing such particulars, and accompanied by such fee, as may be specified by regulations, and the Board may grant a certificate of registration to the applicant or reject the application.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,278
621,621,What are the grounds for suspending or canceling the certificate of registration of an information utility?,"The Board may suspend or cancel the certificate of registration on grounds such as obtaining registration by making a false statement or misrepresentation, failing to comply with regulations, contravening provisions of the Act or rules, or on any other ground specified by regulations.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,285
622,622,What is the role of the governing board of an insolvency professional agency?,"The governing board of an insolvency professional agency shall be set up to ensure that the agency takes into account the objectives sought to be achieved under the Code, and shall have a minimum number of independent members as specified by regulations.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,254
623,623,What are the functions of an insolvency professional agency?,"An insolvency professional agency shall perform functions such as granting membership to persons, laying down standards of professional conduct, monitoring performance, safeguarding rights and interests of members, and publishing information about its functions and members.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,274
624,624,What is the process for appealing against an order of the Board made under section 201?,"Any insolvency professional agency which is aggrieved by the order of the Board may prefer an appeal to the National Company Law Appellate Tribunal in such form, within such period, and in such manner, as may be specified by regulations.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,237
625,625,What are the core services that an information utility shall provide?,"An information utility shall provide such services as may be specified, including core services to any person if such person complies with the terms and conditions as may be specified by regulations.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,199
626,626,What are the obligations of an information utility under the Code?,"An information utility shall create and store financial information in a universally accessible format, accept electronic submissions of financial information, meet minimum service quality standards, authenticate information received from various persons, provide access to financial information, publish statistical information, and have inter-operatability with other information utilities.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,392
627,627,What is the procedure for submitting financial information to an information utility?,"Any person who intends to submit financial information to an information utility shall pay such fee and submit information in such form and manner as may be specified by regulations. A financial creditor shall submit financial information and information relating to assets in relation to which any security interest has been created, in such form and manner as may be specified by regulations.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,394
628,628,What are the rights and obligations of persons submitting financial information to an information utility?,"A person who submits financial information to an information utility shall not provide such information to any other person, except to such extent, under such circumstances, and in such manner, as may be specified. A person who intends to update or modify or rectify errors in the financial information submitted may make an application to the information utility for such purpose stating reasons therefor.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,406
629,629,How can a complaint be filed against an insolvency professional agency or its member or information utility?,"Any person aggrieved by the functioning of an insolvency professional agency or insolvency professional or an information utility may file a complaint to the Board in such form, within such time and in such manner as may be specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,234
630,630,What is the process for investigating an insolvency professional agency or its member or information utility?,The Board may direct any person or persons to act as an investigating authority to conduct an inspection or investigation of the insolvency professional agency or insolvency professional or an information utility. The inspection or investigation shall be conducted within such time and in such manner as may be specified by regulations.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,336
631,631,What are the powers of the investigating authority during an inspection or investigation?,"The investigating authority may require any other person who is likely to have any relevant document, record or information to furnish the same, and such person shall be bound to furnish such document, record or information. The investigating authority may also enter any building or place where they may have reasons to believe that any such document, record or information relating to the subject-matter of the inquiry may be found and may seize any such document, record or information or take extracts or copies therefrom.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,526
632,632,What is the process for imposing penalty on an insolvency professional agency or its member or information utility?,"The disciplinary committee may impose penalty which shall be three times the amount of the loss caused, or likely to have been caused, to persons concerned on account of such contravention, or three times the amount of the unlawful gain made on account of such contravention, whichever is higher. The total amount of the penalty imposed shall not exceed more than one crore rupees.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,381
633,633,How is the Board funded?,"The Central Government may make grants to the Board for being utilised for the purposes of this Code. The Board shall also receive fees and charges, and other sums from such other sources as may be decided upon by the Central Government.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,237
634,634,What is the purpose of the Board's Fund?,"The Fund shall be applied for meeting the salaries, allowances and other remuneration of the members, officers and other employees of the Board, the expenses of the Board in the discharge of its functions, and such other purposes as may be prescribed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,251
635,635,How are the accounts of the Board maintained and audited?,The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India. The accounts of the Board shall be audited by the Comptroller and Auditor-General of India at such intervals as may be specified by him.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,375
636,636,What is the role of the Comptroller and Auditor-General of India in relation to the audit of the accounts of the Board?,The Comptroller and Auditor-General of India and any other person appointed by him shall have the same rights and privileges and authority as the Comptroller and Auditor-General generally has in connection with the audit of Government accounts.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,244
637,637,What is the purpose of the Insolvency and Bankruptcy Fund?,"The Fund is formed for the purposes of insolvency resolution, liquidation, and bankruptcy of persons under the Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,116
638,638,Who has the power to issue directions to the Board on questions of policy?,The Central Government has the power to issue directions to the Board on questions of policy.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,93
639,639,Under what circumstances can the Central Government supersede the Board?,"The Central Government can supersede the Board if it is of the opinion that the Board is unable to discharge its functions and duties, or if the Board has persistently not complied with any direction issued by the Central Government, or if circumstances exist which render it necessary in the public interest.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,309
640,640,What is the role of the administrator appointed by the Central Government to administer the Insolvency and Bankruptcy Fund?,The administrator shall administer the Fund in such manner as may be prescribed.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,80
641,641,Can a person who has contributed to the Insolvency and Bankruptcy Fund withdraw their contribution?,"Yes, a person who has contributed to the Fund may make an application to the Adjudicating Authority for withdrawal of funds not exceeding the amount contributed by them.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,169
642,642,What is the power of the Central Government to notify financial sector providers for the purpose of their insolvency and liquidation proceedings?,"The Central Government may, if it considers necessary, notify financial service providers or categories of financial service providers for the purpose of their insolvency and liquidation proceedings.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,199
643,643,What is the role of the Board in preparing its budget and annual report?,The Board shall prepare its budget and annual report in such form and at such time as may be prescribed and forward the same to the Central Government.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,151
644,644,"Can the Board delegate its powers and functions to any member, officer, or employee?","Yes, the Board may delegate its powers and functions to any member, officer, or employee subject to such conditions as may be specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,136
645,645,"What is the protection available to the Government, officers, and employees of the Board for actions taken in good faith?","No suit, prosecution, or other legal proceeding shall lie against the Government or any officer of the Government, or the Chairperson, Member, officer, or other employee of the Board for anything done or intended to be done in good faith under this Code or the rules or regulations made thereunder.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,298
646,646,"What is the provision regarding cognizance of offences under the Companies Act, 2013?","No Court shall take cognizance of any offence punishable under this Act, save on a complaint made by the Board or the Central Government or any person authorised by the Central Government in this behalf.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,203
647,647,"What are the powers of the High Court in relation to a Special Court under the Companies Act, 2013?","The High Court may exercise, so far as may be applicable, all the powers conferred by Chapters XXIX and XXX of the Code of Criminal Procedure, 1973 on a High Court, as if a Special Court within the local limits of the jurisdiction of the High Court were a Court of Session trying cases within the local limits of the jurisdiction of the High Court.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,348
648,648,"What is the provision regarding limitation for proceedings or appeals before the Adjudicating Authority, the National Company Law Appellate Tribunal, the Debt Recovery Tribunal or the Debt Recovery Appellate Tribunal?","The provisions of the Limitation Act, 1963 shall, as far as may be, apply to the proceedings or appeals before the Adjudicating Authority, the National Company Law Appellate Tribunal, the Debt Recovery Tribunal or the Debt Recovery Appellate Tribunal, as the case may be.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,271
649,649,"What are the powers of the Central Government to make rules under the Companies Act, 2013?","The Central Government may, by notification, make rules for carrying out the provisions of this Code, and without prejudice to the generality of the provisions of sub-section (1), the Central Government may make rules for any of the matters specified in clauses (a) to (zn) of sub-section (2) of section 239.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,308
650,650,"What is the provision regarding the form and manner of accepting electronic submission of financial information under the Companies Act, 2013?","The Board may, by notification, make regulations consistent with this Code and the rules made thereunder, to carry out the provisions of this Code, and in particular, and without prejudice to the generality of the foregoing power, such regulations may provide for the form and the manner of accepting electronic submission of financial information under sub-clause (a) of clause (9) of section 3.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,396
651,651,"What are the powers of the Board to make regulations under the Companies Act, 2013?","The Board may, by notification, make regulations consistent with this Code and the rules made thereunder, to carry out the provisions of this Code, and in particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the matters specified in clauses (a) to (zm) of sub-section (2) of section 240.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,357
652,652,"What is the provision regarding the manner of sending details of the claims to the bankruptcy trustee and other information under the Companies Act, 2013?","The Central Government may, by rules, provide for the manner of sending details of the claims to the bankruptcy trustee and other information under sub-sections (1) and (2) of section 131.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,188
653,653,"What is the provision regarding the value of financial or commercial transaction under the Companies Act, 2013?","The Central Government may, by rules, provide for the value of financial or commercial transaction under clause (d) of sub-section (1) of section 141.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,150
654,654,"What is the provision regarding the manner of dealing with the surplus under the Companies Act, 2013?","The Central Government may, by rules, provide for the manner of dealing with the surplus under sub-section (4) of section 170.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,126
655,655,"What is the provision regarding the form and manner of proof of debt under the Companies Act, 2013?","The Central Government may, by rules, provide for the form and manner of proof of debt under clause (c) of sub-section (2) of section 171.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,138
656,656,What is the period under clause (a) of sub-section (3) of section 10?,The period under clause (a) of sub-section (3) of section 10 is to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,80
657,657,"Under what circumstances may the supply of critical goods or services be terminated, suspended or interrupted during the period of moratorium under sub-section (2A) of section 14?","The circumstances under which supply of critical goods or services may be terminated, suspended or interrupted during the period of moratorium under sub-section (2A) of section 14 are to be specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,200
658,658,What is the manner of making public announcement under sub-section (2) of section 15?,The manner of making public announcement under sub-section (2) of section 15 is to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,96
659,659,What is the last date for submission of claims under clause (c) of sub-section (1) of section 15?,The last date for submission of claims under clause (c) of sub-section (1) of section 15 is to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,108
660,660,What is the manner of taking action and the restrictions thereof under clause (b) of sub-section (2) of section 17?,The manner of taking action and the restrictions thereof under clause (b) of sub-section (2) of section 17 is to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,126
661,661,Who are the other persons under clause (d) of sub-section (2) of section 17?,The other persons under clause (d) of sub-section (2) of section 17 are to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,88
662,662,What are the other matters under clause (d) of sub-section (2) of section 17?,The other matters under clause (d) of sub-section (2) of section 17 are to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,88
663,663,"What are the other matters under sub-clause (iv) of clause (a), and the other duties to be performed by the interim resolution professional under clause (g), of section 18?","The other matters under sub-clause (iv) of clause (a), and the other duties to be performed by the interim resolution professional under clause (g), of section 18 are to be specified.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,183
664,664,What is the number of creditors within a class of creditors under clause (b) of sub-section (6A) of section 21?,The number of creditors within a class of creditors under clause (b) of sub-section (6A) of section 21 is to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,122
665,665,What is the remuneration payable to authorised representative under clause (ii) of the proviso to sub-section (6B) of section 21?,The remuneration payable to authorised representative under clause (ii) of the proviso to sub-section (6B) of section 21 is to be specified.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,140
666,666,"What are the services to be provided by an Information Utility under Section 213, and what are the terms and conditions for the same?","The services to be provided by an Information Utility under Section 213 include accepting electronic submissions of financial information, maintaining a database of financial information, and providing access to such information. The terms and conditions for the same are to be specified by the Central Government.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,314
667,667,What are the minimum service quality standards for an Information Utility under Clause (d) of Section 214?,The minimum service quality standards for an Information Utility under Clause (d) of Section 214 are to be specified by the Central Government.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,143
668,668,"How can a resolution applicant claim restitution under Sub-section (6) of Section 220, and what is the period within which such restitution may be claimed?",A resolution applicant can claim restitution under Sub-section (6) of Section 220 by filing a complaint with the Adjudicating Authority. The period within which such restitution may be claimed is to be specified by the Central Government.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,238
669,669,What is the procedure for carrying out an inspection or investigation under Sub-section (2) of Section 218?,The procedure for carrying out an inspection or investigation under Sub-section (2) of Section 218 is to be specified by the Central Government.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,144
670,670,"How can a complaint be filed under Section 217, and what is the manner and time for filing the same?",A complaint can be filed under Section 217 by submitting a written application to the Adjudicating Authority. The manner and time for filing the same are to be specified by the Central Government.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,196
671,671,"What are the provisions of the Code that do not apply to micro, small, and medium enterprises under Section 240A?","The provisions of the Code that do not apply to micro, small, and medium enterprises under Section 240A include Clauses (c) and (h) of Section 29A.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,147
672,672,"How can the Central Government direct that any provision of the Code shall not apply to micro, small, and medium enterprises under Section 240A?","The Central Government can direct that any provision of the Code shall not apply to micro, small, and medium enterprises under Section 240A by issuing a notification in the Official Gazette.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,190
673,673,What is the period within which a notification issued under Section 240A shall be laid before each House of Parliament?,A notification issued under Section 240A shall be laid before each House of Parliament within thirty days of its issue.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,119
674,674,"What are the consequences of repeal of the Presidency Towns Insolvency Act, 1909, and the Provincial Insolvency Act, 1920, under Section 243?","The repeal of the Presidency Towns Insolvency Act, 1909, and the Provincial Insolvency Act, 1920, under Section 243 does not affect any proceedings pending under those Acts, and any order, rule, notification, regulation, appointment, conveyance, mortgage, deed, document, or agreement made under those Acts shall continue to be in force.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,337
675,675,"What are the transitional provisions under Section 244, and how long do they remain in force?",The transitional provisions under Section 244 include the exercise of powers and functions by the Central Government until the Board is constituted or a financial sector regulator is designated. These provisions remain in force for a period of five years from the commencement of the Code.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,289
676,676,What is the purpose of the Fifth Schedule of the document?,"The Fifth Schedule amends the Recovery of Debts due to Banks and Financial Institutions Act, 1993, to include provisions for insolvency resolution and bankruptcy of individuals and partnership firms.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,199
677,677,"What changes are made to the Central Excise Act, 1944, by the Second Schedule?","The Second Schedule substitutes the words, figures, and brackets",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,64
678,678,"What is the effect of the amendment to the Sick Industrial Companies (Special Provisions) Repeal Act, 2003?","The amendment provides that any appeal or reference or inquiry pending before the Appellate Authority or the Board under the Sick Industrial Companies (Special Provisions) Act, 1985, shall stand abated, and a company may make a reference to the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016 within 180 days from the commencement of the Code.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,372
679,679,"What changes are made to the Income-tax Act, 1961, by the Third Schedule?",The Third Schedule inserts the words and figures,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,48
680,680,What is the purpose of the Eleventh Schedule?,"The Eleventh Schedule amends the Companies Act, 2013, to include provisions for insolvency and bankruptcy.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,106
681,681,"What changes are made to the Customs Act, 1962, by the Fourth Schedule?",The Fourth Schedule substitutes the words and figures,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,53
682,682,"What is the effect of the amendment to the Payment and Settlement Systems Act, 2007?",The amendment inserts the words and figures,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,43
683,683,"What changes are made to the Limited Liability Partnership Act, 2008, by the Tenth Schedule?","The Tenth Schedule omits clause (c) of section 64 of the Limited Liability Partnership Act, 2008.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,97
684,684,What is the purpose of the First Schedule?,"The First Schedule amends the Indian Partnership Act, 1932, to omit clause (a) of section 41.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,93
685,685,"What changes are made to the Finance Act, 1994, by the Sixth Schedule?",The Sixth Schedule substitutes the words and figures,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,52
686,686,What does the term 'Company Liquidator' mean according to clause 23 of section 2?,A person appointed by the Tribunal as the Company Liquidator in accordance with the provisions of section 275 for the winding up of a company under this Act.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,157
687,687,What is the meaning of 'winding up' according to clause 94A of section 2?,"Winding up under this Act or liquidation under the Insolvency and Bankruptcy Code, 2016, as applicable.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,103
688,688,"In section 66, sub-section 8, what words are substituted for 'is unable, within the meaning of sub-section (2) of section 271, to pay the amount of his debt or claim'?","'commits a default, within the meaning of section 6 of the Insolvency and Bankruptcy Code, 2016, in respect of the amount of his debt or claim'",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,143
689,689,Who can present a petition for the winding up of a company under section 272?,"The company, any contributory or contributories, all or any of the persons specified in clauses (a) and (b), the Registrar, any person authorised by the Central Government in that behalf, or in a case falling under clause (b) of section 271, by the Central Government or a State Government.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,290
690,690,What is the provision for overriding preferential payments in the winding up of a company under section 326?,"Workmen's dues and debts due to secured creditors, where a secured creditor has realised a secured asset, so much of the debts due to such secured creditor as could not be realised by him or the amount of the workmen's portion in his security, whichever is less, pari passu with the workmen's dues.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,298
691,691,Who shall appoint the provisional liquidator or the Company Liquidator under section 275?,"The Tribunal from amongst the insolvency professionals registered under the Insolvency and Bankruptcy Code, 2016.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,113
692,692,What is the jurisdiction of the Tribunal under section 280?,"The Tribunal shall have jurisdiction to entertain, or dispose of, any suit or proceeding by or against the company, any claim made by or against the company, any application made under section 233, and any question of priorities or any other question whatsoever, whether of law or facts.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,287
693,693,What is the provision for payment of debts in the winding up of a company under section 326?,"The debts payable under the proviso to sub-section (1) shall be paid in full before any payment is made to secured creditors and thereafter debts payable under that sub-section shall be paid in full, unless the assets are insufficient to meet them, in which case they shall abate in equal proportions.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,301
694,694,What is the meaning of 'workmen' in relation to a company according to section 326?,The employees of the company.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,29
695,695,What is the provision for submission of views by the Registrar under section 272?,"The Registrar shall, without prejudice to any other provisions, submit his views to the Tribunal within sixty days of receipt of the petition.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,142
696,696,"What is the definition of 'workmen' under the Industrial Disputes Act, 1947?","Any person (including an apprentice) employed in any industry to do any manual, supervisory, managerial, technical or clerical work for hire or reward.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,151
697,697,What is the meaning of 'workmen's dues' in relation to a company?,"The aggregate of the following sums due from the company to its workmen, namely: (i) all wages or salary including wages payable for time or piece work and salary earned wholly or in part by way of commission of any workman in respect of services rendered to the company and any compensation payable to any workman under any of the provisions of the Industrial Disputes Act, 1947.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,380
698,698,What is the definition of 'workmen's portion' in relation to the security of any secured creditor of a company?,The amount which bears to the value of the security the same proportion as the amount of the workmen's dues bears to the aggregate of the amount of workmen's dues and the amount of the debts due to the secured creditors.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,220
699,699,What is the effect of the winding up of a company on any transfer of property or delivery of goods made by the company within one year before the presentation of a petition for winding up by the Tribunal?,"Any transfer of property, movable or immovable, or any delivery of goods, made by a company, not being a transfer or delivery made in the ordinary course of its business or in favour of a purchaser or encumbrancer in good faith and for valuable consideration, if made within a period of one year before the presentation of a petition for winding up by the Tribunal under this Act shall be void against the Company Liquidator.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,425
700,700,"What is the power of the Company Liquidator to compromise any call or liability to call, debt, and liability capable of resulting in a debt, and any claim, present or future, certain or contingent, ascertained or sounding only in damages, subsisting or alleged to subsist between the company and a contributory or alleged contributory or other debtor or person apprehending liability to the company?","The Company Liquidator may, with the sanction of the Tribunal, when the company is being wound up by the Tribunal, compromise any call or liability to call, debt, and liability capable of resulting in a debt, and any claim, present or future, certain or contingent, ascertained or sounding only in damages, subsisting or alleged to subsist between the company and a contributory or alleged contributory or other debtor or person apprehending liability to the company, on such terms as may be agreed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,499
701,701,What is the manner in which the books and papers of a company being wound up shall be disposed of?,"When the affairs of a company have been completely wound up and it is about to be dissolved, its books and papers and those of the Company Liquidator may be disposed of in such manner as the Tribunal directs.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,208
702,702,"What is the time limit for filing a statement by the Company Liquidator with respect to the proceedings in, and position of, the liquidation?","If the winding up of a company is not concluded within one year after its commencement, the Company Liquidator shall, unless he is exempted from so doing, either wholly or in part by the Central Government, within two months of the expiry of such year and thereafter until the winding up is concluded, at intervals of not more than one year or at such shorter intervals, if any, as may be prescribed, file a statement in such form containing such particulars as may be prescribed.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,480
703,703,What is the effect of the commencement of winding up by the Tribunal on the company?,The winding up of a company by the Tribunal under this Act shall be deemed to commence at the time of the presentation of the petition for the winding up.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,154
704,704,"What is the power of the Tribunal to request the Chief Metropolitan Magistrate, Chief Judicial Magistrate or the District Collector to take possession of the property, books of account or other documents of the company?","The Tribunal may, in any proceedings for winding up of a company under this Act or in any proceedings under the Insolvency and Bankruptcy Code, 2016, in order to take into custody or under its control all property, books of account or other documents, request, in writing, the Chief Metropolitan Magistrate, Chief Judicial Magistrate or the District Collector within whose jurisdiction any such property, books of account or other documents of such company under this Act or of corporate persons under the said Code, are situated or found, to take possession thereof.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,567
705,705,What is the effect of the transfer of certain pending proceedings from the Company Law Board to the Tribunal?,"On such date as may be notified by the Central Government in this behalf, all matters, proceedings or cases pending before the Board of Company Law Administration (herein referred to as the Company Law Board) constituted under sub-section (1) of section 10E of the Companies Act, 1956, immediately before such date shall stand transferred to the Tribunal and the Tribunal shall dispose of such matters, proceedings or cases in accordance with the provisions of this Act.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,470
706,706,"What happens to all proceedings under the Companies Act, 1956, including arbitration, compromise, arrangements, and reconstruction and winding up of companies, pending before any District Court or High Court before the date of transfer?","Such proceedings stand transferred to the Tribunal, and the Tribunal may proceed to deal with such proceedings from the stage before their transfer.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,148
707,707,"Can parties to any proceedings relating to the winding up of companies pending before any Court before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, file an application for transfer of such proceedings to the Tribunal?","Yes, any party or parties to any proceedings relating to the winding up of companies pending before any Court immediately before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, may file an application for transfer of such proceedings, and the Court may by order transfer such proceedings to the Tribunal.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,340
708,708,"What matters can the Central Government make rules for to ensure timely transfer of all matters, proceedings or cases pending before the Company Law Board or the courts to the Tribunal?","The Central Government may make rules for all or any of the following matters, including the mode of proceedings to be held for winding up of a company by the Tribunal, holding of meetings of creditors and members, giving effect to the provisions of the Act as to the reduction of capital, and more.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,299
709,709,"What is the time period for which a newly incorporated company, a sick company, or a company in relation to which a resolution plan has been approved by the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016, may pay remuneration up to two times the amount permissible under section II?","Seven years from the date of incorporation for a newly incorporated company, five years from the date of sanction of scheme of revival for a sick company, and five years from the date of approval of the resolution plan for a company under the Insolvency and Bankruptcy Code, 2016.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,280
710,710,What Acts are specified in the Twelfth Schedule for the purposes of clause (d) of section 29A?,"The Twelfth Schedule lists 26 Acts, including the Foreign Trade (Development and Regulation) Act, 1922, the Reserve Bank of India Act, 1934, the Central Excise Act, 1944, and more, for the purposes of clause (d) of section 29A.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,227
711,711,Can the Central Government notify other Acts in addition to those listed in the Twelfth Schedule for the purposes of clause (d) of section 29A?,"Yes, the Central Government may notify other Acts in addition to those listed in the Twelfth Schedule for the purposes of clause (d) of section 29A.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,148
712,712,What happens to proceedings relating to the winding up of companies that are at a stage as may be prescribed by the Central Government?,Only such proceedings relating to the winding up of companies that are at a stage as may be prescribed by the Central Government shall be transferred to the Tribunal.,76b5b16aec39d2b0e3a20c15f907f0ac.pdf,166
713,713,"Can the Tribunal deal with proceedings transferred to it as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016?","Yes, the Tribunal may deal with proceedings transferred to it as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,185
714,714,What is the effect of the transfer of proceedings from the Court to the Tribunal?,"The transfer of proceedings from the Court to the Tribunal has the effect of transferring the entire proceeding, including all parties and claims, to the Tribunal.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,163
715,715,Can the Central Government make rules for all or any of the matters specified in section 468?,"Yes, the Central Government may make rules for all or any of the matters specified in section 468, including the mode of proceedings to be held for winding up of a company by the Tribunal, holding of meetings of creditors and members, giving effect to the provisions of the Act as to the reduction of capital, and more.",76b5b16aec39d2b0e3a20c15f907f0ac.pdf,319
716,716,"What is the name of the rules made by the Central Government in exercise of the powers conferred by section 30 of the Securities Contracts (Regulation) Act, 1956?","The Securities Contracts (Regulation) Rules, 1957.",1669024091367.pdf,50
717,717,What is the definition of 'form' in the context of these rules?,A form means a form appended to these rules.,1669024091367.pdf,44
718,718,What is the definition of 'Government company' in the context of these rules?,A Government company means a company in which not less than fifty-one per cent of the share capital is held by the Central Government or by any State Government or Governments or partly by the Central Government and partly by one or more State Governments.,1669024091367.pdf,256
719,719,Who is considered as 'public' in the context of these rules?,"Persons other than the promoter and promoter group, subsidiaries and associates of the company.",1669024091367.pdf,95
720,720,What is the procedure for applying for recognition of a stock exchange under section 3 of the Act?,An application under section 3 of the Act for recognition of a stock exchange shall be made to the Securities and Exchange Board of India in Form A.,1669024091367.pdf,148
721,721,What is the fee payable in respect of every application under rule 3?,"Rupees five hundred, which shall be deposited in the nearest Government treasury or the nearest branch of the State Bank of India.",1669024091367.pdf,130
722,722,What documents are required to be filed along with the application for recognition of a stock exchange?,"Four copies of the rules, including the memorandum and articles of association where the applicant stock exchange is an incorporated body, and bye-laws of the stock exchange, and the receipt granted by the Government treasury or the State Bank of India or the Reserve Bank of India, in respect of the amount of the fee deposited.",1669024091367.pdf,329
723,723,What is the power of the Securities and Exchange Board of India in relation to granting recognition to a stock exchange?,"The Securities and Exchange Board of India may make such inquiries and require such further information to be furnished as it deems necessary, relating to the information furnished by the stock exchange in the Annexure to its application in Form A.",1669024091367.pdf,248
724,724,What is the form of recognition granted to a stock exchange?,"The recognition granted to a stock exchange shall be in Form B and be subject to certain conditions, including that the recognition shall be for a period of not less than one year and that the stock exchange shall comply with such conditions as are or may be prescribed or imposed under the provisions of the Act and these rules from time to time.",1669024091367.pdf,347
725,725,What are the qualifications for membership of a recognised stock exchange?,"The rules relating to admission of members of a stock exchange seeking recognition shall inter alia provide that no person shall be eligible to be elected as a member if he is less than twenty-one years of age, not a citizen of India, adjudged bankrupt or proved to be insolvent, etc.",1669024091367.pdf,284
726,726,What are the conditions for a person to be eligible for admission as a member of a stock exchange?,"A person is eligible for admission as a member if they are not a minor, have the requisite knowledge and experience, are not insolvent, and meet other conditions specified in the rules.",1669024091367.pdf,185
727,727,Can a person who has been expelled or declared a defaulter by another stock exchange be admitted as a member?,"No, a person who has been expelled or declared a defaulter by another stock exchange is not eligible for admission as a member.",1669024091367.pdf,127
728,728,What is the requirement for a company to be eligible for membership of a stock exchange?,"A company must be formed in compliance with the provisions of Section 322 of the Companies Act, 1956, and a majority of its directors must be shareholders of the company and members of the stock exchange.",1669024091367.pdf,204
729,729,Can a member of a stock exchange engage in any business other than that of securities?,"No, a member of a stock exchange is not allowed to engage in any business other than that of securities, except as a broker or agent not involving any personal financial liability.",1669024091367.pdf,180
730,730,What is the eligibility criteria for a limited liability partnership to be a member of a stock exchange?,"A limited liability partnership must comply with the financial requirements and norms specified by the Securities and Exchange Board of India, and its designated partners must not be disqualified from being members of a stock exchange.",1669024091367.pdf,235
731,731,Can a provident fund represented by its trustees be a member of a stock exchange?,"Yes, a provident fund represented by its trustees can be a member of a stock exchange, subject to certain conditions.",1669024091367.pdf,117
732,732,What are the conditions for a person to be admitted as a member of a stock exchange without meeting the experience requirement?,"A person can be admitted as a member without meeting the experience requirement if they work for a minimum period of two years as a partner or representative member with another member, or if the governing body waives the requirement due to exceptional circumstances.",1669024091367.pdf,267
733,733,Can a member of a stock exchange be expelled or declared a defaulter?,"Yes, a member of a stock exchange can be expelled or declared a defaulter if they fail to comply with the rules and regulations of the exchange, or if they are found to be insolvent or guilty of fraud or dishonesty.",1669024091367.pdf,215
734,734,What is the role of the Securities and Exchange Board of India in the admission of members to a stock exchange?,"The Securities and Exchange Board of India can make recommendations to the governing body of a stock exchange regarding the admission of members, and can also specify financial requirements and norms for the registration of companies and limited liability partnerships.",1669024091367.pdf,269
735,735,"Can a company that is not formed in compliance with the Companies Act, 1956 be a member of a stock exchange?","No, a company that is not formed in compliance with the Companies Act, 1956 is not eligible for membership of a stock exchange.",1669024091367.pdf,127
736,736,What is the name of the act under which the Industrial Finance Corporation was established?,"Industrial Finance Corporation Act, 1948 (15 of 1948)",1669024091367.pdf,53
737,737,Who can nominate members to the governing body of a recognised stock exchange?,"The Securities and Exchange Board of India may nominate one or more persons not exceeding three in number, as member or members of the governing body of every recognised stock exchange.",1669024091367.pdf,185
738,738,What is the period for which every recognised stock exchange shall maintain and preserve its books of account and documents?,five years,1669024091367.pdf,10
739,739,What are the different types of books that every member of a recognised stock exchange shall maintain and preserve?,"Register of transactions, Clients' ledger, General ledger, Journals, Cash book, Bank pass-book, Documents register, Member's contract books, Counterfoils or duplicates of contract notes issued to clients, Written consent of clients",1669024091367.pdf,231
740,740,Who shall hand over a statement of issues to be inquired into to the governing body or the member concerned?,The inquiring authority appointed by the Securities and Exchange Board of India,1669024091367.pdf,79
741,741,Within what period shall the recognised stock exchange furnish its annual report to the Securities and Exchange Board of India?,Before the 31st day of January in each year or within such extended time as the Securities and Exchange Board of India may allow,1669024091367.pdf,128
742,742,What is the purpose of the inquiry to be conducted by the inquiring authority?,To inquire into the affairs of the governing body of a recognised stock exchange or the affairs of any member of the stock exchange in relation to the stock exchange,1669024091367.pdf,165
743,743,Who shall appoint one or more members to make an inquiry under clause (b) of sub-section (3) of section 6 of the Act?,The governing body of the stock exchange,1669024091367.pdf,40
744,744,What shall be the consequence of temporary absence from any hearing or hearings of any member of the inquiring authority?,Temporary absence shall not vitiate the proceedings,1669024091367.pdf,51
745,745,What is the maximum number of nominees that the Securities and Exchange Board of India may appoint to the governing body of every recognised stock exchange?,three,1669024091367.pdf,5
746,746,What are the requirements for a public company to get its securities listed on a recognised stock exchange?,"The company must apply to the stock exchange and provide various documents and particulars, including its memorandum and articles of association, prospectuses, balance-sheets, and audited accounts, among others.",1669024091367.pdf,211
747,747,What are the provisions that a recognised stock exchange may specify for the listing of securities?,"A recognised stock exchange may specify provisions such as the minimum offer and allotment to the public, the percentage of equity shares or debentures convertible into equity shares that must be offered and allotted to the public, and the requirement for the company to increase its public shareholding within a certain period.",1669024091367.pdf,328
748,748,What are the requirements for a company to satisfy the stock exchange for the listing of its securities?,"The company must satisfy the stock exchange that its articles of association provide for certain provisions, such as the use of a common form of transfer, the restriction of the company's lien on partly paid shares, and the prohibition on the forfeiture of unclaimed dividends before the claim becomes barred by law.",1669024091367.pdf,316
749,749,What are the documents that a company must provide to the stock exchange for the listing of its securities?,"The company must provide documents such as its memorandum and articles of association, prospectuses, balance-sheets, and audited accounts, as well as certified copies of agreements and other documents relating to arrangements with vendors, promoters, underwriters, and other parties.",1669024091367.pdf,283
750,750,What are the provisions for the publication of bye-laws for criticism?,"The bye-laws must be published for criticism in accordance with the provisions of section 23 of the General Clauses Act, 1897, both in the Gazette of India and the Official Gazette of the State in which the principal office of the recognised stock exchange is situated.",1669024091367.pdf,269
751,751,What are the requirements for a recognised stock exchange to furnish periodical returns to the Securities and Exchange Board of India?,"A recognised stock exchange must furnish periodical returns relating to various matters, including the official rates for securities, the number of shares delivered through the clearing house, and the number of securities listed and de-listed during the previous three months.",1669024091367.pdf,276
752,752,What are the requirements for a company to increase its public shareholding after listing its securities?,"A company must increase its public shareholding to at least 25% within a period of three years from the date of listing of the securities, in the manner specified by the Securities and Exchange Board of India.",1669024091367.pdf,209
753,753,What are the provisions for the submission of audited balance-sheets and profit and loss accounts by a recognised stock exchange?,A recognised stock exchange must furnish a copy of its audited balance-sheet and profit and loss account for its preceding financial year to the Securities and Exchange Board of India within one month of the date of the holding of its annual general meeting.,1669024091367.pdf,258
754,754,What are the requirements for a company to provide particulars of its shares and debentures for the listing of its securities?,"A company must provide particulars of its shares and debentures, including the number of shares and debentures issued, the consideration received, and the terms and conditions of the issue.",1669024091367.pdf,189
755,755,What are the provisions for the listing of securities on a recognised stock exchange?,A recognised stock exchange may provisionally admit to dealings the securities of a company that undertakes to amend its articles of association at its next general meeting to fulfil certain requirements and agrees to act in the meantime strictly in accordance with the provisions of the clause.,1669024091367.pdf,295
756,756,What is the condition precedent that a company applying for listing must undertake regarding the issue of letters of allotment and letters of right?,"The company must undertake to issue letters of allotment and letters of right simultaneously, and to print them on good quality paper, serially numbered, and examined and signed by a responsible officer of the company.",1669024091367.pdf,218
757,757,What is the requirement for a company that has issued equity shares with superior voting rights to its promoters or founders and is seeking listing of its ordinary shares for offering to the public?,The company must mandatorily list its equity shares with superior voting rights at the same recognized stock exchange along with the ordinary shares being offered to the public.,1669024091367.pdf,177
758,758,What is the requirement for a company regarding the issue of certificates in respect of shares or debentures lodged for transfer?,The company must issue certificates within a period of one month of the date of lodgement of transfer and issue balance certificates within the same period where the transfer is accompanied by a larger certificate.,1669024091367.pdf,214
759,759,What is the requirement for a company regarding the recommendation or declaration of dividends and/or cash bonuses?,The company must recommend or declare all dividends and/or cash bonuses at least five days before the commencement of the closure of its transfer books or the record date fixed for the purpose and advise the stock exchange in writing immediately after a meeting of the board of the company has been held to finalize the same.,1669024091367.pdf,325
760,760,What is the requirement for a company regarding the notification of material changes in the general character or nature of its business?,The company must notify the stock exchange of any material change in the general character or nature of its business.,1669024091367.pdf,117
761,761,What is the requirement for a company regarding the forwarding of copies of statutory and annual reports and audited accounts to the stock exchange?,"The company must forward to the stock exchange copies of statutory and annual reports and audited accounts as soon as issued, including directors' report.",1669024091367.pdf,154
762,762,What is the requirement for a company regarding the notification of new issues of securities?,"The company must notify the stock exchange prior to intimating the shareholders of any new issue of securities, whether by way of right, privilege, bonus, or otherwise, and the manner in which it is proposed to offer or allot the same.",1669024091367.pdf,235
763,763,What is the requirement for a company regarding the closure of its transfer books?,"The company must close its transfer books only for the purpose of declaration of dividend or issue of right or bonus shares or for such other purposes as the stock exchange may agree, and give notice to the stock exchange as many days in advance as the exchange may from time to time reasonably prescribe.",1669024091367.pdf,305
764,764,"What is the requirement for a company regarding the right of renunciation in issue of rights, privileges, and benefits?","The company must grant to shareholders the right of renunciation in all cases of issue of rights, privileges, and benefits, and allow them reasonable time, not being less than four weeks, within which to record, exercise, or renounce such rights, privileges, and benefits.",1669024091367.pdf,272
765,765,"What is the requirement for a company regarding the notification of redemption, cancellation, or retirement of securities listed on the exchange?","The company must promptly notify the stock exchange of any action that will result in the redemption, cancellation, or retirement in whole or in part of any securities listed on the exchange.",1669024091367.pdf,191
766,766,What is the requirement for a company to intimate the stock exchange about any other information necessary to enable the shareholders to apprise the position of the company and to avoid the establishment of a false market in the shares of the company?,The company shall intimate the stock exchange any other information necessary to enable the shareholders to apprise the position of the company and to avoid the establishment of a false market in the shares of the company.,1669024091367.pdf,222
767,767,What is the condition for listing of securities on a recognised stock exchange?,"The listing of securities on a recognised stock exchange shall be subject to the rules and bye-laws of the exchange in force from time to time and the company will comply within a reasonable time, with such further listing requirements as may be promulgated by the exchange as a general condition for new listings.",1669024091367.pdf,314
768,768,When is an application for listing necessary?,"An application for listing is necessary in respect of all new issues of any class or kind of securities of a company to be offered to the public, and all further issues of any class or kind of securities of a company if such class or kind of securities of the company are already listed on a recognised stock exchange.",1669024091367.pdf,318
769,769,What is the procedure for suspension or withdrawal of admission to dealings in securities by a recognised stock exchange?,"A recognised stock exchange may suspend or withdraw admission to dealings in the securities of a company or body corporate either for a breach of or non-compliance with, any of the conditions of admission to dealings or for any other reason, to be recorded in writing, which in the opinion of the stock exchange justifies such action, after affording to the company or body corporate concerned a reasonable opportunity by a notice in writing, stating the reasons, to show cause against the proposed action.",1669024091367.pdf,506
770,770,What is the appeal process for a company or body corporate against the decision of a recognised stock exchange to withdraw admission to dealings in securities?,"The company or body corporate concerned may prefer an appeal to the Securities Appellate Tribunal constituted under section 15K of the Securities and Exchange Board of India Act, 1992, and the procedure laid down under the Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Rules, 2000 shall apply to such appeal.",1669024091367.pdf,338
771,771,What is the requirement for a listed company to maintain public shareholding?,"Every listed company shall maintain public shareholding of at least twenty-five per cent, except for public sector companies which shall maintain public shareholding of at least twenty-five per cent, within a period of three years from the date of commencement of the Securities Contracts (Regulation) (Amendment) Rules, 2010.",1669024091367.pdf,326
772,772,What is the procedure for a listed company to increase its public shareholding?,"A listed company shall increase its public shareholding to at least twenty-five per cent, within a period of twelve months from the date of such fall, in the manner specified by the Securities and Exchange Board of India.",1669024091367.pdf,221
773,773,What is the requirement for a listed public sector company to increase its public shareholding?,"Every listed public sector company whose public shareholding falls below twenty-five per cent, at any time after the commencement of the Securities Contracts (Regulation) (Second Amendment) Rules, 2018, shall increase its public shareholding to at least twenty-five per cent, within a period of two years from such fall, in the manner specified by the Securities and Exchange Board of India.",1669024091367.pdf,391
774,774,What is the consequence of a listed company's public shareholding falling below twenty-five per cent?,"Where the public shareholding in a listed company falls below twenty-five per cent, at any time, such company shall bring the public shareholding to twenty-five per cent, within a maximum period of twelve months from the date of such fall, in the manner specified by the Securities and Exchange Board of India.",1669024091367.pdf,310
775,775,What is the power of the Securities and Exchange Board of India to waive or relax the requirements with respect to listing?,"The Securities and Exchange Board of India may, at its own discretion or on the recommendation of a recognised stock exchange, waive or relax the strict enforcement of any or all of the requirements with respect to listing prescribed by these rules.",1669024091367.pdf,249
776,776,"What happens if the public shareholding in a listed company falls below 25% as a result of implementing a resolution plan under the Insolvency and Bankruptcy Code, 2016?","The company shall increase the public shareholding to 25% within a maximum period of three years from the date of such fall, in the manner specified by the Securities and Exchange Board of India.",1669024091367.pdf,195
777,777,"What is the minimum public shareholding required for a listed company as a result of implementing a resolution plan approved under section 31 of the Insolvency and Bankruptcy Code, 2016?",5% or such higher percentage as may be specified by the Securities and Exchange Board of India,1669024091367.pdf,94
778,778,Can a listed public sector company be exempt from any or all provisions of this rule?,"Yes, the Central Government may exempt any listed public sector company from any or all provisions of this rule in the public interest.",1669024091367.pdf,135
779,779,What documents and particulars must a Collective Investment Management Company (CIMC) submit to a recognised stock exchange to get its collective investment scheme listed?,"The CIMC must submit various documents and particulars, including the certificate of incorporation, memorandum and articles of association, copies of prospectuses, balance sheets, and audited accounts, among others.",1669024091367.pdf,215
780,780,What are the requirements for an applicant to satisfy a recognised stock exchange for listing a scheme?,"The applicant must satisfy the stock exchange that its articles of association provide for certain requirements, including the use of a common form of transfer of units, and that at least 25% of the units or any other instrument of the scheme was offered to the public for subscription.",1669024091367.pdf,286
781,781,Can a recognised stock exchange provisionally admit to dealings the units of a scheme that undertakes to amend its articles of association to fulfill certain requirements?,"Yes, a recognised stock exchange may provisionally admit to dealings the units of a scheme that undertakes to amend its articles of association to fulfill the requirements specified in the rules.",1669024091367.pdf,195
782,782,What is the requirement for offering units or any other instrument of a scheme to the public for subscription?,At least 25% of the units or any other instrument of the scheme must be offered to the public for subscription through advertisement in newspapers for a period not less than two days and not more than ninety days.,1669024091367.pdf,213
783,783,Can a recognised stock exchange relax the requirement of offering units or any other instrument of a scheme to the public for subscription in certain cases?,"Yes, a recognised stock exchange may relax this requirement with the previous approval of the Securities and Exchange Board of India in respect of a Government company within the meaning of section 617 of the Companies Act, 1956.",1669024091367.pdf,229
784,784,What is the condition precedent for a company applying for listing of a scheme?,"The company must undertake, inter alia, to issue letters of allotment of units or any other instrument simultaneously and to comply with other requirements specified in the rules.",1669024091367.pdf,179
785,785,"What is the requirement for a company to maintain public shareholding as a result of implementing a resolution plan approved under section 31 of the Insolvency and Bankruptcy Code, 2016?",The company must maintain public shareholding of at least 5% or such higher percentage as may be specified by the Securities and Exchange Board of India.,1669024091367.pdf,153
786,786,What is the requirement for the company to issue letters of allotment and rights to unit holders?,"Letters of allotment and rights will be serially numbered, printed on good quality paper, and examined and signed by a responsible officer of the company. They will also contain the distinctive numbers of the units or any other instrument to which they relate.",1669024091367.pdf,260
787,787,What information must be included in letters of allotment and letters of right?,Letters of allotment and letters of right must state how the next payment of interest or return on the units or any other instrument will be calculated.,1669024091367.pdf,152
788,788,What is the requirement for the company to issue receipts for units and other instruments deposited with it?,"The company must issue receipts for all units and any other instrument deposited with it, whether for registration, sub-division, exchange, or other purposes, and must not charge any fees for registration of transfers, sub-division, and consolidation of units and any other instrument.",1669024091367.pdf,285
789,789,What is the requirement for the company to notify the stock exchange of changes in its directorate or auditors?,"The company must notify the stock exchange of any change in its directorate by death, resignation, removal, or otherwise, as well as any change in its auditors appointed to audit the books and accounts of the company.",1669024091367.pdf,217
790,790,What is the requirement for the company to forward documents to the stock exchange?,"The company must forward to the stock exchange copies of statutory and annual reports and audited accounts of the scheme as soon as issued, including directors' reports, as well as copies of all other notices and circulars sent to unit/other instrument holders regarding any important development or resolutions passed by the company affecting the performance of the scheme.",1669024091367.pdf,374
791,791,What is the requirement for the company to close its transfer books?,"The company must close its transfer books only for the purpose of declaration of returns or issue of right or bonus units/any other instruments in the scheme, or for such other purposes as the stock exchange may agree, and must give notice to the stock exchange as many days in advance as the exchange may reasonably prescribe.",1669024091367.pdf,327
792,792,What is the requirement for the company to grant rights to unit/other instrument holders?,"The company must grant to unit/other instrument holders the right of renunciation in all cases of issue of rights, privileges, and benefits, and must allow them reasonable time, not being less than four weeks, within which to record, exercise, or renounce such rights, privileges, and benefits.",1669024091367.pdf,294
793,793,"What is the requirement for the company to notify the stock exchange of any action resulting in the redemption, cancellation, or retirement of units/other instruments?","The company must promptly notify the stock exchange of any action which will result in the redemption, cancellation, or retirement in whole or in part of any unit/other instrument listed on the exchange.",1669024091367.pdf,203
794,794,What is the requirement for the company to intimate the stock exchange of any new issue of units/other instruments?,"The company must notify the stock exchange prior to intimating the unit/any other instrument holders of any new issue of units/other instruments, whether by way of right, privilege, bonus, or otherwise, and the manner in which it is proposed to offer or allot the same.",1669024091367.pdf,269
795,795,What is the requirement for the company to comply with the rules and bye-laws of the stock exchange?,"The company must comply within a reasonable time with such further listing requirements as may be promulgated by the exchange as a general condition for new listings, and must note that the listing of its units/other instruments is subject to the rules and bye-laws of the exchange in force from time to time.",1669024091367.pdf,309
796,796,What is the condition for a recognized stock exchange to withdraw admission to dealings in any unit/other instrument of a collective investment scheme?,"Where a recognized stock exchange has withdrawn admission to dealings in any unit/other instrument of a collective investment scheme, or where suspension of admission to dealings has continued for a period exceeding three months, the company or body corporate concerned may prefer an appeal to the Securities Appellate Tribunal.",1669024091367.pdf,328
797,797,What is the procedure for a company or body corporate to appeal against the decision of a recognized stock exchange to withdraw admission to dealings in any unit/other instrument of a collective investment scheme?,"The company or body corporate concerned may prefer an appeal to the Securities Appellate Tribunal constituted under section 15K of the Securities and Exchange Board of India Act, 1992, and the procedure laid down under the Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Rules, 2000 shall apply to such appeal.",1669024091367.pdf,338
798,798,What are the grounds on which a recognized stock exchange may delist any securities listed thereon?,"A recognized stock exchange may delist any securities listed thereon on the grounds that the company has incurred losses during the preceding three consecutive years and it has negative networth, trading in the securities of the company has remained suspended for a period of more than six months, the securities of the company have remained infrequently traded during the preceding three years, and other grounds specified in the regulations made by the Securities and Exchange Board of India.",1669024091367.pdf,494
799,799,What is the procedure for delisting of securities by a recognized stock exchange?,"The recognized stock exchange may delist any securities listed thereon in accordance with the regulations made by the Securities and Exchange Board of India, subject to the condition that the company concerned has been given a reasonable opportunity of being heard.",1669024091367.pdf,265
800,800,What are the consequences of delisting of securities by a recognized stock exchange?,"If the securities are delisted, the company, promoter, and director of the company shall be jointly and severally liable to purchase the outstanding securities from those holders who wish to sell them at a fair price determined in accordance with regulations made by Securities and Exchange Board of India, under the Act, and the said securities shall be delisted from all recognized stock exchanges.",1669024091367.pdf,400
801,801,What is the condition for a recognized stock exchange to restore or readmit to dealings any units/other instruments suspended or withdrawn from the list?,"A recognized stock exchange may, either at its own discretion or in accordance with the orders of the Securities Appellate Tribunal, restore or readmit to dealings any units/other instruments suspended or withdrawn from the list.",1669024091367.pdf,229
802,802,What are the requirements for listing of securities on a recognized stock exchange?,"The requirements for listing of securities on a recognized stock exchange include that the company has made a public offer of at least twenty-five per cent of the units or any other instrument of a collective investment scheme, and other requirements specified in the rules and regulations made by the Securities and Exchange Board of India.",1669024091367.pdf,341
803,803,"What is the procedure for a company to apply for recognition/renewal of recognition of a stock exchange under section 3 of the Securities Contracts (Regulation) Act, 1956?","The company may apply for recognition/renewal of recognition of a stock exchange under section 3 of the Securities Contracts (Regulation) Act, 1956, by submitting an application in Form A, along with the required documents and information, to the Securities and Exchange Board of India.",1669024091367.pdf,286
804,804,"What are the requirements for a stock exchange to be recognized under the Securities Contracts (Regulation) Act, 1956?","The requirements for a stock exchange to be recognized under the Securities Contracts (Regulation) Act, 1956, include that the stock exchange is a company incorporated under the Indian Companies Act, 1956, and has a minimum capital structure and net worth, and complies with other requirements specified in the rules and regulations made by the Securities and Exchange Board of India.",1669024091367.pdf,384
805,805,What is the role of the Securities Appellate Tribunal in the appeal process against the decision of a recognized stock exchange?,"The Securities Appellate Tribunal may, after giving the stock exchange an opportunity of being heard, vary or set aside the decision of the stock exchange, and the orders of the Securities Appellate Tribunal shall be carried out by the stock exchange.",1669024091367.pdf,251
806,806,"What is the present strength of your governing body? Give details of the constitution, powers of management, election and tenure of office of members of the governing body, and the manner in which its business is transacted.","The governing body consists of [number] members, who are elected by the members of the exchange for a term of [time period]. The governing body has the power to manage the affairs of the exchange, including setting rules and regulations, appointing committees, and overseeing the trading activities of the members. The business of the governing body is transacted through regular meetings, which are held at least [frequency] times a year.",1669024091367.pdf,439
807,807,"Do you have a system of registration of remisiers and/or authorised clerks? If so, give details as to their qualifications, obligations and rights, etc.","Yes, we have a system of registration of remisiers and authorised clerks. To be eligible for registration, remisiers and authorised clerks must have a minimum of [number] years of experience in the securities industry and must pass a written examination. They are required to maintain a high level of professionalism and integrity, and are subject to disciplinary action if they fail to comply with the rules and regulations of the exchange.",1669024091367.pdf,441
808,808,"What provisions have you made for regulating the volume of business done by any individual member other than through a system of margins? If so, give details.","We have implemented a system of position limits, which restricts the maximum amount of business that can be done by an individual member in a particular security. We also have a system of monitoring and surveillance, which allows us to track the trading activities of our members and take action if we detect any unusual or suspicious activity.",1669024091367.pdf,344
809,809,"Do you have a clearing house for the settlement of contracts? If so, give details of its organisation and management.","Yes, we have a clearing house that is responsible for the settlement of contracts. The clearing house is a separate entity from the exchange, but is closely linked to it. It is managed by a board of directors, which includes representatives from the exchange and the clearing house. The clearing house is responsible for settling all contracts traded on the exchange, and provides a guarantee to buyers and sellers that contracts will be settled in accordance with the rules and regulations of the exchange.",1669024091367.pdf,507
810,810,What are the measures adopted by you to regulate or prohibit advertising or issue of circulars by your members?,"We have implemented a system of approval for all advertisements and circulars issued by our members. All advertisements and circulars must be approved by the exchange before they can be issued, and must comply with the rules and regulations of the exchange. We also have a system of monitoring and surveillance, which allows us to track the advertising and promotional activities of our members and take action if we detect any non-compliance with the rules and regulations of the exchange.",1669024091367.pdf,490
811,811,Do you require members to supply such information or explanation and to produce such books relating to their business as your governing body may require?,"Yes, we require our members to supply such information or explanation and to produce such books relating to their business as our governing body may require. This includes financial statements, trading records, and other documents that may be relevant to the business of the member. We also have the power to inspect the premises of our members and to examine their books and records.",1669024091367.pdf,384
812,812,What are the conditions subject to which securities are listed for dealings on your exchange?,"Securities must meet certain criteria before they can be listed for dealings on our exchange. These criteria include the size and liquidity of the issue, the financial health of the issuer, and the transparency and disclosure of the issuer's business. We also require issuers to comply with our listing rules and regulations, which include requirements for financial reporting, corporate governance, and disclosure.",1669024091367.pdf,415
813,813,Do you have any bye-laws contravention of which makes a contract void?,"Yes, we have bye-laws that make certain contracts void if they are not complied with. For example, contracts that are not executed in accordance with the rules and regulations of the exchange may be considered void. We also have bye-laws that prohibit insider trading, front-running, and other forms of market manipulation.",1669024091367.pdf,323
814,814,"What provisions have you made for the levy and recovery of fees, fines and penalties?","We have implemented a system of fees, fines, and penalties that are levied on our members for various reasons, including non-compliance with the rules and regulations of the exchange. We have a schedule of fees and fines that is published on our website, and we also have a system of collection and recovery of these fees and fines. We also have a system of appeals and grievances, which allows members to appeal against any decision made by the exchange.",1669024091367.pdf,455
815,815,Do you have any machinery for arbitration of disputes between members and/or between members and their constituents?,"Yes, we have a system of arbitration that is used to resolve disputes between members and/or between members and their constituents. The arbitration process is overseen by a committee of independent experts, who are appointed by the exchange. The committee hears evidence and arguments from both sides, and makes a binding decision. We also have a system of mediation, which allows parties to resolve disputes through negotiation and compromise.",1669024091367.pdf,445
816,816,"What is the short title, extent, and commencement of the Banking Regulation Act, 1949?","The short title of the Act is the Banking Regulation Act, 1949. It extends to the whole of India and came into force on a date appointed by the Central Government.",BANKI15122014.pdf,163
817,817,What is the power of the Reserve Bank to control advances by banking companies?,"The Reserve Bank has the power to control advances by banking companies under Section 21 of the Act. The Reserve Bank may give directions to banking companies regarding the rate of interest to be charged, the margin to be maintained, and the securities to be held.",BANKI15122014.pdf,264
818,818,What is the procedure for amalgamation of banking companies?,"The procedure for amalgamation of banking companies is laid down in Section 44A of the Act. The Reserve Bank may, with the prior approval of the Central Government, prepare a scheme of amalgamation of two or more banking companies.",BANKI15122014.pdf,231
819,819,What is the power of the High Court in voluntary winding up of a banking company?,The High Court has the power to order the winding up of a banking company under Section 44 of the Act. The Court may appoint a liquidator and give directions regarding the winding up process.,BANKI15122014.pdf,191
820,820,What is the role of the Reserve Bank in the winding up of a banking company?,The Reserve Bank is the official liquidator of a banking company under Section 39 of the Act. The Reserve Bank has the power to take charge of the assets and liabilities of the banking company and to realize the assets and distribute the proceeds among the creditors.,BANKI15122014.pdf,267
821,821,What is the power of the Central Government to acquire undertakings of banking companies in certain cases?,The Central Government has the power to acquire the undertakings of a banking company under Section 36AE of the Act. The Government may acquire the undertaking if it is necessary in the public interest or for the purpose of securing the proper management of the banking company.,BANKI15122014.pdf,278
822,822,What is the power of the Reserve Bank to give directions to banking companies?,"The Reserve Bank has the power to give directions to banking companies under Section 35A of the Act. The Reserve Bank may give directions regarding the management of the banking company, the conduct of its business, and the maintenance of its assets and liabilities.",BANKI15122014.pdf,266
823,823,What is the procedure for the supersession of the Board of Directors of a banking company?,The procedure for the supersession of the Board of Directors of a banking company is laid down in Section 36ACA of the Act. The Reserve Bank may supersede the Board of Directors if it is necessary in the public interest or for the purpose of securing the proper management of the banking company.,BANKI15122014.pdf,296
824,824,What is the power of the High Court to decide all claims in respect of banking companies?,The High Court has the power to decide all claims in respect of banking companies under Section 45B of the Act. The Court may decide claims regarding the assets and liabilities of the banking company and give directions regarding the winding up process.,BANKI15122014.pdf,253
825,825,What is the role of the Reserve Bank in the inspection of banking companies?,The Reserve Bank has the power to inspect banking companies under Section 35 of the Act. The Reserve Bank may inspect the books and accounts of the banking company and give directions regarding the maintenance of its assets and liabilities.,BANKI15122014.pdf,240
826,826,"What is the purpose of Part 3B of the Banking Regulation Act, 1949?","Part 3B contains provisions relating to certain operations of banking companies, including the power of the Central Government to make rules for the preservation of records, return of paid instruments to customers, and nomination for payment of depositors' money.",BANKI15122014.pdf,263
827,827,"What is the effect of Section 45W of the Banking Regulation Act, 1949?","Section 45W states that Part II of the Act does not apply to banking companies being wound up, meaning that the provisions of Part II are not applicable to banking companies that are in the process of being wound up.",BANKI15122014.pdf,216
828,828,"What is the purpose of Section 46 of the Banking Regulation Act, 1949?","Section 46 prescribes penalties for various offenses committed under the Act, providing a framework for punishment and deterrence for non-compliance with the provisions of the Act.",BANKI15122014.pdf,180
829,829,"What is the significance of Section 52 of the Banking Regulation Act, 1949?","Section 52 grants the Central Government the power to make rules under the Act, providing a mechanism for the government to issue regulations and guidelines to implement the provisions of the Act.",BANKI15122014.pdf,196
830,830,"What is the purpose of Section 53 of the Banking Regulation Act, 1949?","Section 53 allows the Central Government to exempt certain entities or individuals from the application of the Act, providing flexibility and discretion to the government in implementing the provisions of the Act.",BANKI15122014.pdf,213
831,831,"What is the effect of Section 54 of the Banking Regulation Act, 1949?","Section 54 provides protection for actions taken under the Act, ensuring that officials and employees acting in good faith and in the course of their duties under the Act are not liable for any loss or damage caused by their actions.",BANKI15122014.pdf,233
832,832,"What is the purpose of Part 5 of the Banking Regulation Act, 1949?","Part 5 contains provisions for the application of the Act to co-operative banks, outlining the modifications and exemptions applicable to co-operative banks and societies.",BANKI15122014.pdf,171
833,833,"What is the significance of the Schedules to the Banking Regulation Act, 1949?","The Schedules to the Act provide a framework for the application of the Act to co-operative societies and other entities, outlining the modifications and exemptions applicable to these entities.",BANKI15122014.pdf,194
834,834,"What is the purpose of the Amending Acts to the Banking Regulation Act, 1949?","The Amending Acts modify and update the provisions of the original Act, providing for changes and reforms in the regulation of banking and finance in India.",BANKI15122014.pdf,156
835,835,"What is the effect of the repeal of Section 45 of the Banking Regulation Act, 1949?","The repeal of Section 45, which originally contained provisions for the validation of certain proceedings, has been removed from the Act, indicating a change in the regulatory framework and approach to banking regulation in India.",BANKI15122014.pdf,230
836,836,"What does 'bank' imply with regards to banking enterprises, and what is its necessity for equitable distribution and effective utilization of deposits?","It refers to the importance of banks in the management and allocation of deposits and resources, ensuring their efficient use for the benefit of the economy.",BANKI15122014.pdf,157
837,837,What is the meaning of the term 'branch' as applied to a banking firm?,"A branch of a banking company is any branch or sub-branch, regardless of its title, where deposits are received, checks are cashed, or loans are granted, including any establishment for other forms of business carried out as per section 6.",BANKI15122014.pdf,239
838,838,How is the term 'company' as used in this context defined?,A company is any organization incorporated under the 1956 Companies Act and includes foreign companies as classified under section 591 of that Act.,BANKI15122014.pdf,147
839,839,What constitutes the concept of a 'corresponding new bank'?,The term 'corresponding new bank' identifies a new banking entity formed under section 3 of either the Banking Companies (Acquisition and Transfer of Undertakings) Act of 1970 or the Banking Companies (Acquisition and Transfer of Undertakings) Act of 1980.,BANKI15122014.pdf,256
840,840,Can you define the term 'Deposit Insurance Corporation'?,It refers to the establishment formed under the Deposit Insurance Corporation Act of 1961 for the insurance of deposits in banks.,BANKI15122014.pdf,129
841,841,"What does the 'Export-Import Bank of India', or Exim Bank, imply?",It is an establishment made possible by section 3 of the Export-Import Bank of India Act established in 1981 to pursue and oversee foreign trade within the country.,BANKI15122014.pdf,164
842,842,Please define 'gold' and its related applications.,"Gold, as a term, applies to a particular quality and usage and has been described to include legal or non-legal coins comprising gold substances or even bulks of refined gold.",BANKI15122014.pdf,175
843,843,What does the concept of a 'managing director' mean within the context of banking institutions?,"The managing director is a director entrusted with handling, under the supervision of the Board, the day to day affairs, as specified either by an agreement with the banking entity, the company's general assembly, the memos of the association, or other executive orders.",BANKI15122014.pdf,270
844,844,How would you describe 'substantial interest' in a business setup as referred to in the banking companies Act?,"Substantial interest refers to the involvement of an individual in partnership, in agreement with business operations and includes being married or the child to an existing business associate.",BANKI15122014.pdf,192
845,845,Please explain what the 'National Housing Bank' entails.,"It is a bank formed according to Section 3 of the National Housing Bank Act, and its objective is primarily to look after and regulate other banks that focus on housing-related services and amenities available to the community.",BANKI15122014.pdf,227
846,846,"What is the definition of 'Development Bank' according to the Industrial Development Bank of India Act, 1964?","Development Bank means the Industrial Development Bank of India established under Section 3 of the Industrial Development Bank of India Act, 1964 (18 of 1964).",BANKI15122014.pdf,159
847,847,"What are 'approved securities' according to the Indian Trusts Act, 1882?","Approved securities means securities in which a trustee may invest money under clause (a), clause (b), clause (bb), clause (c) or clause (d) of Section 20 of the Indian Trusts Act, 1882 (2 of 1882), and such of the securities authorised by the Central Government under clause (f) of Section 20 of the Indian Trusts Act, 1882 (2 of 1882), as may be prescribed.",BANKI15122014.pdf,359
848,848,"What is the effect of the Act on the memorandum, articles, etc. of a banking company?","The provisions of this Act shall have effect notwithstanding anything to the contrary contained in the memorandum or articles of a banking company, or in any agreement executed by it, or in any resolution passed by the banking company in general meeting or by its Board of Directors.",BANKI15122014.pdf,283
849,849,"In what forms of business can a banking company engage in, in addition to the business of banking?","A banking company may engage in any one or more of the following forms of business, namely: the borrowing, raising, or taking up of money; the lending or advancing of money; the drawing, making, accepting, discounting, buying, selling, collecting and dealing in bills of exchange, etc.",BANKI15122014.pdf,285
850,850,"What is the restriction on the use of words 'bank', 'banker', 'banking' or 'banking company'?","No company other than a banking company shall use as part of its name or in connection with its business any of the words 'bank', 'banker' or 'banking', and no company shall carry on the business of banking in India unless it uses as part of its name at least one of such words.",BANKI15122014.pdf,278
851,851,What is the prohibition on trading by a banking company?,"Notwithstanding anything contained in section 6 or in any contract, no banking company shall directly or indirectly deal in the buying or selling or bartering of goods, except in connection with the realisation of security given to or held by it.",BANKI15122014.pdf,246
852,852,What is the explanation for the term 'goods' in the context of prohibition of trading?,"For the purposes of section 8, 'goods' means every kind of movable property, other than actionable claims, stocks, shares, money, bullion and specie, and all instruments referred to in clause (a) of sub-section (1) of section 6.",BANKI15122014.pdf,228
853,853,What is the restriction on holding non-banking assets by a banking company?,"Notwithstanding anything contained in section 6, no banking company shall hold any immovable property howsoever acquired, except such as is required for its own use, for any period exceeding seven years from the acquisition thereof or from the commencement of this Act, whichever is later.",BANKI15122014.pdf,289
854,854,Can a banking company engage in any form of business other than those referred to in sub-section (1) of section 6?,"No, no banking company shall engage in any form of business other than those referred to in sub-section (1) of section 6.",BANKI15122014.pdf,121
855,855,What is the authority of the Central Government to specify forms of business for banking companies?,"The Central Government may, by notification in the Official Gazette, specify any other form of business which it considers lawful for a banking company to engage in.",BANKI15122014.pdf,165
856,856,What is the time limit within which a banking company must dispose of property acquired under the provisions of Section 9 of the Act?,"Within 7 years from the date of acquisition or within such extended period as may be provided for, up to 3 years before making fresh commencement on order/mandated grounds/b",BANKI15122014.pdf,173
857,857,Who cannot be employed as the Managing Agent or Auditor of any banking company?,"Any person who is or has been adjudicated insolvent, or who has suspended payment of his/her debts, or who has made a composition with their creditors.",BANKI15122014.pdf,151
858,858,What is the extent to which the Reserve Bank may extend the period for disposal of property under Section 9 of the Act?,Up to 5 years where it is satisfied that such an extension would be in the interests of the depositors of the banking company.,BANKI15122014.pdf,126
859,859,Who cannot be employed by a banking company to deal with its property?,"A person whose term of office as a person managing the company exceeds 5 years at any one time, or whose remuneration is in the opinion of the Reserve Bank excessive.",BANKI15122014.pdf,166
860,860,"What are the main requirements for Board of Directors in banking companies with respect to knowledge, skill and expertise?","At least 51 percent of the Board members must have special knowledge of accountancy, agriculture and rural economy, banking, co-operation, economics, finance, or other relevant areas, and at least 2 members must have knowledge in agriculture and rural economy, co-operation, or small-scale industry.",BANKI15122014.pdf,299
861,861,What restrictions are placed on Directors and Managing Directors of banking companies with respect to their external professional activities?,"They may not engage in other trade or commerce unrelated to banking, unless it is a small-scale industrial concern, and Managing Directors cannot be proprietor of trading or industrial concerns that are not small-scale.",BANKI15122014.pdf,219
862,862,How long can a part-time Director of a banking company hold office continuously?,Not more than 8 years.,BANKI15122014.pdf,22
863,863,Can a Managing Director removed from office be appointed as a Director in the same banking company?,No. Removed Managing Directors are also disqualified for being Directors for at least 4 years subsequent.,BANKI15122014.pdf,105
865,865,What is the provision for appointment of a director in absence of election under Section 10A?,"Where any directorship vacated in a banking company cannot be filled up by the Members byholding an-election and no such election-is held within sixty days from the date of occurrence of-the vacancy, the Board of Directors shall fill up the vacanc y, provided that the person to be appointed shall be eligible to be elected as a director and shall hold office only until the date up to which his predecessor would have held office, if the election had not been held.",BANKI15122014.pdf,466
866,866,What is the provision for removal or-reappointment of directors?,"Every appointment, removal or re-contitution duly made, and every election duly-held under Section 10A shall be final and-shall not be called into question in any court.. Everydirector-elected, or as the case-may be, appointed under this section shall hold office until the date-up to which his predecessor would have held office if the election had not been held.""",BANKI15122014.pdf,365
867,867,Who shall be responsible for the management of whole-time affairs of a banking company?,"The chairman of the Board of Directors appointed on a whole-time basis shall be entrusted with the management of the whole of the affairs of the banking company, subject to the superintendence, control and direction of the Board of Directors.",BANKI15122014.pdf,242
868,868,What are the conditions for appointment of Managing Director of a banking company?,Every Managing Director shall be appointed by the Board of Directors subject to the previous approval of the Reserve Bank and shall hold office for such period not exceeding five years as the Board of Directors may fix.,BANKI15122014.pdf,219
869,869,Can a Chairman appointed on whole-time basis simultaneously be a Director of any other company?,"Provided that nothing in this sub-section shall be construed as prohibiting a Chairman from being a Director of a subsidiary of the banking company or a Director of a company registered under Section 25 of the Companies Act, 1956.",BANKI15122014.pdf,230
870,870,What are the grounds for disqualification for being Chairman who is appointed on whole-time basis or Managing Director?,"A person shall be disqualified for being a Chairman who is appointed on whole time basis or Managing Director if he is a Director of any company other than a company referred to in the proviso to sub-section (2), or is engaged in any other business or vocation.",BANKI15122014.pdf,261
871,871,Can a Chairman of the Board of Directors or Managing Director of a banking company resign his office?,"Yes, a Chairman of the Board of Directors appointed on whole-time basis or Managing Director of a banking company may, by writing under his hand addressed to the company, resign his office.",BANKI15122014.pdf,189
872,872,What is the provision for continuation of office of Chairman who is appointed on whole-time basis or Managing Director?,"Where the term of office of Chairman who is appointed on whole-time basis or Managing Director has come to an end, either by reason of his resignation or by reason of expiry of the period of his office, he shall, subject to the approval of the Reserve Bank, continue in office until his successor assumes office.",BANKI15122014.pdf,312
873,873,Can the Reserve Bank remove Chairman who is appointed on whole-time basis or Managing Director?,"Yes, the Reserve Bank may, after giving to such person and to the banking company a reasonable opportunity of being heard by order in writing, require the banking company to elect or appoint any other person as the Chairman who is appointed on whole-time basis or Managing Director.",BANKI15122014.pdf,282
874,874,Can the Reserve Bank permit Chairman who is appointed on whole-time basis or Managing Director to undertake part-time honorary work?,"Yes, the Reserve Bank may, if in its opinion it is necessary in the public interest so to do, permit Chairman who is appointed on whole-time basis or Managing Director to undertake such part-time honorary work as is not likely to interfere with his duties as such Chairman or Managing Director.",BANKI15122014.pdf,294
875,875,"According to section 10A, who shall be deemed to be the director of the banking company?",The chairman of the board of directors appointed on a whole-time basis or a managing director.,BANKI15122014.pdf,94
876,876,"According to section 10C, who is not required to hold qualification shares in a banking company?",Chairman of the board of directors who is appointed on a whole-time basis or a managing director of a banking company and a director of a banking company appointed by the Reserve Bank under section 10A.,BANKI15122014.pdf,202
877,877,What is the minimum paid-up capital and reserves required for a banking company incorporated outside India to carry on business in India?,"The aggregate value of its paid-up capital and reserves shall not be less than fifteen lakhs of rupees and if it has a place or places of business in the city of Bombay or Calcutta or both, twenty lakhs of rupees.",BANKI15122014.pdf,213
878,878,"According to section 10D, what happens to a director or managing director who is removed from office in pursuance of section 10A or section 10B?","Such person shall not be entitled to claim any compensation for the loss or termination of office, notwithstanding anything contained in any law or in any contract, memorandum or articles of association.",BANKI15122014.pdf,203
879,879,"According to section 11, what is the requirement for the aggregate value of paid-up capital and reserves for a banking company having places of business in more than one State?","The aggregate value of its paid-up capital and reserves shall not be less than five lakhs of rupees, and if any such place or places of business is or are situated in the city of Bombay or Calcutta, ten lakhs of rupees.",BANKI15122014.pdf,219
880,880,Who can declare by order in writing that the provisions of sub-clause (ii) of clause (b) of sub-section (2) of section 11 shall not apply to a banking company incorporated outside India for a specified period?,The Central Government on the recommendation of the Reserve Bank.,BANKI15122014.pdf,65
881,881,"According to section 11, what is the minimum value of paid-up capital required for a banking company that commences banking business for the first time after the commencement of the Banking Companies (Amendment) Act, 1962?",Five lakhs of rupees.,BANKI15122014.pdf,21
882,882,What happens to the amount deposited by a banking company incorporated outside India with the Reserve Bank under sub-section (2) of section 11 in the event of the company ceasing to carry on banking business in India?,The amount shall be an asset of the company on which the claims of all the creditors of the company in India shall be a first charge.,BANKI15122014.pdf,133
883,883,"According to section 11, what does the term ""place of business"" mean?","Any office, sub-office, sub-pay office and any place of business at which deposits are received, cheques cashed, or moneys lent.",BANKI15122014.pdf,128
884,884,"According to section 11, who makes the final determination of the aggregate value of the paid-up capital and reserves of a banking company in case of a dispute?",The Reserve Bank.,BANKI15122014.pdf,17
885,885,What are the conditions that a banking company must satisfy to carry on business in India?,"The subscribed capital of the company must be not less than one-half of the authorised capital, and the paid-up capital must be not less than one-half of the subscribed capital.",BANKI15122014.pdf,177
886,886,What is the composition of the capital of a banking company?,"The capital of a banking company consists of equity shares only or equity shares and preference shares, subject to certain guidelines and conditions.",BANKI15122014.pdf,149
887,887,What is the limit on voting rights of shareholders in a banking company?,"No person holding shares in a banking company can exercise voting rights in excess of 10% of the total voting rights of all shareholders, although the Reserve Bank may increase this ceiling to 26% in a phased manner.",BANKI15122014.pdf,216
888,888,What is the requirement for a banking company to furnish returns to the Reserve Bank?,"Every chairman, managing director or chief executive officer of a banking company must furnish returns to the Reserve Bank containing full particulars of their holding of shares in the company and any changes thereto.",BANKI15122014.pdf,217
889,889,Under what circumstances can the Reserve Bank require a banking company to call a general meeting to elect new directors?,The Reserve Bank may require a banking company to call a general meeting to elect new directors if it is necessary in the public interest or in the interest of banking policy.,BANKI15122014.pdf,175
890,890,What is the procedure for acquiring shares or voting rights in a banking company?,"No person can acquire or agree to acquire shares or voting rights in a banking company without the previous approval of the Reserve Bank, and the applicant must make an application to the Reserve Bank for approval.",BANKI15122014.pdf,214
891,891,What is the definition of an associate enterprise for the purposes of acquiring shares or voting rights in a banking company?,"An associate enterprise means a company that is a holding company or subsidiary company of the applicant, or a joint venture of the applicant, or exercises significant influence on the applicant in taking financial or policy decisions.",BANKI15122014.pdf,235
892,892,What is the definition of a relative for the purposes of acquiring shares or voting rights in a banking company?,"A relative has the meaning assigned to it in section 6 of the Companies Act, 1956.",BANKI15122014.pdf,82
893,893,What is the definition of acting in concert for the purposes of acquiring shares or voting rights in a banking company?,"Persons are deemed to be acting in concert if they cooperate to acquire or agree to acquire shares or voting rights in excess of the percentage mentioned in the Act, pursuant to an agreement or understanding.",BANKI15122014.pdf,208
894,894,What is the definition of a joint venture for the purposes of acquiring shares or voting rights in a banking company?,A joint venture means a legal entity in the nature of a partnership engaged in a joint undertaking of a particular transaction for mutual profit or an association of persons or companies jointly undertaking some commercial enterprise.,BANKI15122014.pdf,234
895,895,What are the circumstances under which the Reserve Bank may not permit the acquisition of shares or voting rights in a banking company?,"The Reserve Bank may not permit the acquisition of shares or voting rights in a banking company if it is of the opinion that such acquisition will result in a significant change in the management or control of the company, or if it considers it necessary in the interests of the depositors or for maintaining confidence in the banking system.",BANKI15122014.pdf,342
896,896,Can the Reserve Bank impose conditions on the approval for acquisition of shares in a banking company?,"Yes, the Reserve Bank may impose conditions on the approval for acquisition of shares in a banking company, including the condition that any further acquisition of shares shall require prior approval of the Reserve Bank.",BANKI15122014.pdf,220
897,897,What is the time limit for the Reserve Bank to take a decision on an application for acquisition of shares in a banking company?,The Reserve Bank shall take a decision on an application for acquisition of shares in a banking company within a period of 90 days from the date of receipt of the application.,BANKI15122014.pdf,175
898,898,Can a banking company pay dividend on its shares without writing off capitalized expenses?,"No, a banking company cannot pay dividend on its shares until all its capitalized expenses (including preliminary expenses, organization expenses, share-selling commission, brokerage, amounts of losses incurred and any other item of expenditure not represented by tangible assets) have been completely written off.",BANKI15122014.pdf,314
899,899,Are there any exceptions to the restriction on payment of dividend on shares?,"Yes, there are exceptions to the restriction on payment of dividend on shares, such as depreciation in the value of investments in approved securities, depreciation in the value of investments in shares, debentures or bonds (other than approved securities), and bad debts, where adequate provision has been made for such depreciation or debts.",BANKI15122014.pdf,343
900,900,Can a person be a director of two or more banking companies at the same time?,"No, a person cannot be a director of two or more banking companies at the same time, except for directors appointed by the Reserve Bank.",BANKI15122014.pdf,136
901,901,Can a banking company create a charge on unpaid capital or assets?,"No, a banking company cannot create a charge on unpaid capital or assets, and any such charge shall be invalid.",BANKI15122014.pdf,111
902,902,Can a banking company pay commission or brokerage on the sale of its shares?,"No, a banking company cannot pay commission or brokerage on the sale of its shares exceeding 2.5% of the paid-up value of the shares.",BANKI15122014.pdf,133
903,903,What is the minimum percentage of shares that may be required to be acquired in a banking company?,The Reserve Bank may specify the minimum percentage of shares to be acquired in a banking company if it considers that the purpose for which the shares are proposed to be acquired by the applicant warrants such minimum shareholding.,BANKI15122014.pdf,232
904,904,Can a banking company register the transfer of shares without the prior approval of the Reserve Bank?,"No, a banking company cannot register the transfer of shares without the prior approval of the Reserve Bank, and the transfer shall be invalid if such approval is not obtained.",BANKI15122014.pdf,176
905,905,What is the minimum percentage of profit that a banking company incorporated in India must transfer to its reserve fund each year?,Twenty percent,BANKI15122014.pdf,14
906,906,Can the Central Government exempt a banking company from the requirement of transferring a certain percentage of its profit to the reserve fund?,"Yes, the Central Government may, on the recommendation of the Reserve Bank, exempt a banking company from this requirement for a specified period.",BANKI15122014.pdf,146
907,907,What is the purpose of the cash reserve that a banking company must maintain with itself or with the Reserve Bank?,The cash reserve is maintained to secure monetary stability in the country.,BANKI15122014.pdf,75
908,908,How often must a banking company submit a return to the Reserve Bank showing the amount of cash reserve held by it?,A banking company must submit a return to the Reserve Bank before the twentieth day of every month.,BANKI15122014.pdf,99
909,909,What is the penalty for a banking company that fails to maintain the required cash reserve?,A banking company that fails to maintain the required cash reserve must pay penal interest at a rate of three per cent above the bank rate on the amount by which the balance falls short of the specified minimum.,BANKI15122014.pdf,211
910,910,Can the Reserve Bank grant exemptions from the provisions of the cash reserve requirement to a banking company?,"Yes, the Reserve Bank may grant exemptions from the provisions of the cash reserve requirement to a banking company for a specified period and subject to certain conditions.",BANKI15122014.pdf,173
911,911,What is the purpose of the restriction on the nature of subsidiary companies that a banking company can form?,The purpose of the restriction is to ensure that a banking company does not engage in any business that is not permissible for it to undertake.,BANKI15122014.pdf,143
912,912,Can a banking company form a subsidiary company for the purpose of carrying on the business of banking exclusively outside India?,"Yes, a banking company can form a subsidiary company for this purpose, but only with the previous permission in writing of the Reserve Bank.",BANKI15122014.pdf,140
913,913,What is the limit on the amount of shares that a banking company can hold in another company?,"A banking company cannot hold shares in another company exceeding thirty per cent of the paid-up share capital of that company or thirty per cent of its own paid-up share capital and reserves, whichever is less.",BANKI15122014.pdf,211
914,914,Can a banking company be deemed to be engaged indirectly in the business carried on by its subsidiary company?,"No, a banking company is not deemed to be engaged indirectly in the business carried on by its subsidiary company, for the purposes of section 8.",BANKI15122014.pdf,145
915,915,What is the provision for a banking company holding shares in contravention of the provisions of the sub-section?,"The banking company shall not be liable to any penalty if it reports the matter without delay to the Reserve Bank and brings its holding of shares into conformity with the said provisions within such period, not exceeding two years, as the Reserve Bank may think fit to allow.",BANKI15122014.pdf,276
916,916,Can a banking company hold shares in a company in which any managing director or manager of the banking company is concerned or interested?,"No, a banking company shall not, after the expiry of one year from the date of the commencement of this Act, hold shares, whether as pledgee, mortgage or absolute owner, in any company in the management of which any managing director or manager of the banking company is in any manner concerned or interested.",BANKI15122014.pdf,309
917,917,What is the provision for a banking company to form a subsidiary company to carry on the business of credit information?,"A banking company may form a subsidiary company to carry on the business of credit information in accordance with the Credit Information Companies (Regulation) Act, 2005.",BANKI15122014.pdf,170
918,918,What are the restrictions on loans and advances by a banking company?,"A banking company shall not grant any loans or advances on the security of its own shares, or enter into any commitment for granting any loan or advance to or on behalf of any of its directors, or any firm or company in which any of its directors is interested, or any individual in respect of whom any of its directors is a partner or guarantor.",BANKI15122014.pdf,346
919,919,What is the provision for the recovery of loans or advances granted by a banking company in contravention of the provisions of sub-section (1) of Section 20?,"The banking company shall take steps to recover the amounts due to it on account of the loan or advance, together with interest, if any, due thereon, within the period stipulated at the time of the grant of the loan or advance, or where no such period has been stipulated, before the expiry of one year from the commencement of Section 5 of the Banking Laws (Amendment) Act, 1968.",BANKI15122014.pdf,380
920,920,Can a banking company remit any debt due to it by any of its directors or any firm or company in which any of its directors is interested?,"No, a banking company shall not, except with the prior approval of the Reserve Bank, remit in whole or in part any debt due to it by any of its directors, or any firm or company in which any of its directors is interested as director, partner, managing agent or guarantor, or any individual if any of its directors is his partner or guarantor.",BANKI15122014.pdf,343
921,921,What is the power of the Reserve Bank to control advances by banking companies?,"The Reserve Bank may determine the policy in relation to advances to be followed by banking companies generally or by any banking company in particular, and when the policy has been so determined, all banking companies or the banking company concerned, as the case may be, shall be bound to follow the policy as so determined.",BANKI15122014.pdf,326
922,922,Can a banking company be directed by the Reserve Bank to follow a particular policy in relation to advances?,"Yes, the Reserve Bank may give directions to banking companies, either generally or to any banking company or group of banking companies in particular, as to the purposes for which advances may or may not be made, the margins to be maintained in respect of secured advances, and other matters.",BANKI15122014.pdf,293
923,923,What is the provision for the rates of interest charged by banking companies?,"Notwithstanding anything contained in the Usurious Loans Act, 1918, or any other law relating to indebtedness in force in any State, a transaction between a banking company and its debtor shall not be re-opened by any court on the ground that the rate of interest charged by the banking company in respect of such transaction is excessive.",BANKI15122014.pdf,339
924,924,What is the provision for the binding nature of the directions given by the Reserve Bank to banking companies?,"Every banking company shall be bound to comply with any directions given to it under Section 21 of the Banking Regulation Act, 1949.",BANKI15122014.pdf,132
925,925,What is the condition for a company to carry on banking business in India?,A company must hold a licence issued by the Reserve Bank and comply with the conditions imposed by the Reserve Bank.,BANKI15122014.pdf,116
926,926,What is the time limit for a banking company to apply for a licence under Section 22?,"Every banking company in existence on the commencement of this Act must apply for a licence within six months from the commencement of this Act, and every other company must apply before commencing banking business.",BANKI15122014.pdf,215
927,927,What are the conditions that the Reserve Bank may require to be satisfied before granting a licence under Section 22?,"The Reserve Bank may require to be satisfied that the company is or will be in a position to pay its present or future depositors in full as their claims accrue, and that the affairs of the company are not being or are not likely to be conducted in a manner detrimental to the interests of its present or future depositors.",BANKI15122014.pdf,323
928,928,Can the Reserve Bank cancel a licence granted to a banking company under Section 22?,"Yes, the Reserve Bank may cancel a licence granted to a banking company if the company ceases to carry on banking business in India, or if the company fails to comply with any of the conditions imposed upon it under sub-section (1), or if any of the conditions referred to in sub-section (3) is not fulfilled.",BANKI15122014.pdf,309
929,929,What is the procedure for a banking company to appeal against the decision of the Reserve Bank canceling a licence under Section 22?,A banking company aggrieved by the decision of the Reserve Bank canceling a licence may appeal to the Central Government within thirty days from the date on which such decision is communicated to it.,BANKI15122014.pdf,199
930,930,What is the restriction on opening of new places of business by a banking company under Section 23?,A banking company cannot open a new place of business in India or change the location of an existing place of business without obtaining the prior permission of the Reserve Bank.,BANKI15122014.pdf,178
931,931,What are the factors that the Reserve Bank may consider before granting permission for opening a new place of business under Section 23?,"The Reserve Bank may consider the financial condition and history of the company, the general character of its management, the adequacy of its capital structure and earning prospects, and whether public interest will be served by the opening of the new place of business.",BANKI15122014.pdf,271
932,932,Can the Reserve Bank revoke permission granted under Section 23 if a banking company fails to comply with the conditions imposed?,"Yes, the Reserve Bank may revoke permission granted under Section 23 if a banking company fails to comply with any of the conditions imposed on it.",BANKI15122014.pdf,147
933,933,What is the requirement for a regional rural bank to obtain permission under Section 23?,"A regional rural bank must forward its application to the Reserve Bank through the National Bank, which shall give its comments on the merits of the application and send it to the Reserve Bank.",BANKI15122014.pdf,193
934,934,What is the definition of 'place of business' under Section 23?,"A 'place of business' includes any sub-office, pay office, sub pay office, and any place of business at which deposits are received, cheques cashed, or moneys lent.",BANKI15122014.pdf,164
935,935,"What is the minimum percentage of demand and time liabilities that a banking company must maintain in cash, gold, or unencumbered approved securities?","Twenty-five per cent or such other percentage not exceeding forty per cent, as the Reserve Bank may, from time to time, by notification in the Official Gazette, specify.",BANKI15122014.pdf,169
936,936,"What is the frequency at which a banking company must furnish a return to the Reserve Bank showing particulars of its assets maintained in accordance with this section, and its demand and time liabilities in India?",Not later than twenty days after the end of the month to which it relates.,BANKI15122014.pdf,74
937,937,What is the penalty for a banking company that fails to maintain the minimum prescribed amount on an alternate Friday or preceding working day?,Penal interest at the rate of three per cent per annum above the bank rate on the amount by which the amount actually maintained falls short of the prescribed minimum on that day.,BANKI15122014.pdf,179
938,938,What happens if the default continues on the next succeeding alternate Friday or preceding working day?,The rate of penal interest shall be increased to a rate of five per cent per annum above the bank rate on each such shortfall in respect of that alternate Friday and each succeeding alternate Friday or preceding working day.,BANKI15122014.pdf,224
939,939,Can the Reserve Bank require a banking company to furnish a return showing particulars of its assets maintained in accordance with this section and its demand and time liabilities in India as at the close of business on each day of a month?,"Yes, the Reserve Bank may require a banking company to furnish such a return in the form and manner specified by it.",BANKI15122014.pdf,116
940,940,What is the penalty for a banking company that fails to pay the penal interest within the specified period?,The penalty may be levied by a direction of the principal civil court having jurisdiction in the area where an office of the defaulting banking company is situated.,BANKI15122014.pdf,164
941,941,Can the Reserve Bank waive the payment of penal interest if it is satisfied that the banking company had sufficient cause for its failure to comply with the provisions of sub-section (2A)?,"Yes, the Reserve Bank may not demand the payment of the penal interest if it is satisfied that the banking company had sufficient cause for its failure to comply with the provisions of sub-section (2A).",BANKI15122014.pdf,202
942,942,What is the definition of 'public holiday' in this section?,"A day which is a public holiday under the Negotiable Instruments Act, 1881 (26 of 1881).",BANKI15122014.pdf,88
943,943,Can the Reserve Bank specify the form and manner in which a banking company must maintain its assets in accordance with this section?,"Yes, the Reserve Bank may specify the form and manner in which a banking company must maintain its assets in accordance with this section.",BANKI15122014.pdf,138
944,944,"What is the consequence for a director, manager, or secretary of a banking company who is knowingly and willfully a party to the default in maintaining the minimum prescribed amount?","Such person shall be punishable with fine which may extend to five hundred rupees and with a further fine which may extend to five hundred rupees for each subsequent alternate Friday or preceding working day, as the case may be, on which the default continues.",BANKI15122014.pdf,260
945,945,What is the minimum percentage of assets that every banking company in India must maintain at the close of business on the last Friday of every quarter?,Seventy-five percent of its demand and time liabilities in India.,BANKI15122014.pdf,65
946,946,What is the purpose of the Depositor Education and Awareness Fund established by the Reserve Bank of India?,The Fund shall be utilised for promotion of depositors' interests and for such other purposes which may be necessary for the promotion of depositors' interests as may be specified by the Reserve Bank from time to time.,BANKI15122014.pdf,218
947,947,What is the time period within which a banking company must submit a return to the Reserve Bank showing its assets and liabilities in India?,Before the close of the month succeeding that to which it relates.,BANKI15122014.pdf,66
948,948,Can a depositor claim their deposit or unclaimed amount from a banking company after it has been credited to the Depositor Education and Awareness Fund?,"Yes, a depositor or any other claimant can claim their deposit or unclaimed amount or operate their account or deposit account from or with the banking company after the expiry of the said period of ten years.",BANKI15122014.pdf,209
949,949,What is the purpose of the return that every banking company must submit to the Reserve Bank within one month from the end of every quarter?,The return is to show the assets and liabilities of the banking company as at the close of business on the last Friday of the previous quarter.,BANKI15122014.pdf,143
950,950,Can the Reserve Bank direct a banking company to furnish it with statements and information relating to its business or affairs?,"Yes, the Reserve Bank may at any time direct a banking company to furnish it with such statements and information as the Reserve Bank may consider necessary or expedient to obtain for the purposes of this Act.",BANKI15122014.pdf,209
951,951,"What is the time period within which a banking company must submit a return to the Reserve Bank showing its assets and liabilities in India, in the case of a regional rural bank?",Every regional rural bank shall submit a copy of the return which it submits to the Reserve Bank under sub-section (1) also to the National Bank.,BANKI15122014.pdf,145
952,952,Can the Reserve Bank publish information obtained by it under this Act?,"Yes, the Reserve Bank or the National Bank, or both, if they consider it in the public interest so to do, may publish any information obtained by them under this Act in such consolidated form as they think fit.",BANKI15122014.pdf,210
953,953,What is the purpose of the authority or committee appointed by the Reserve Bank to administer the Depositor Education and Awareness Fund?,"The authority or committee shall administer the Fund, and maintain separate accounts and other relevant records in relation to the Fund in such forms as may be specified by the Reserve Bank.",BANKI15122014.pdf,190
954,954,Can a banking company claim a refund of the amount credited to the Depositor Education and Awareness Fund if it has paid the outstanding amount or allowed operation of the account?,"Yes, the banking company may apply for refund of such amount in such manner as may be specified by the authority or committee referred to in sub-section (5).",BANKI15122014.pdf,157
955,955,What is the requirement for a banking company to prepare a balance-sheet and profit and loss account under Section 29 of the Act?,Every banking company shall prepare a balance-sheet and profit and loss account at the expiration of each calendar year or at the expiration of a period of twelve months ending with such date as the Central Government may specify in this behalf.,BANKI15122014.pdf,245
956,956,Who is responsible for signing the balance-sheet and profit and loss account of a banking company incorporated in India?,"The balance-sheet and profit and loss account shall be signed by the manager or principal officer of the company and by at least three directors, or where there are not more than three directors, by all the directors.",BANKI15122014.pdf,217
957,957,What is the form in which the balance-sheet and profit and loss account of a banking company shall be prepared?,The balance-sheet and profit and loss account shall be prepared in the Forms set out in the Third Schedule or as near thereto as circumstances admit.,BANKI15122014.pdf,149
958,958,Can the Central Government amend the Form set out in the Third Schedule for preparing the balance-sheet and profit and loss account?,"Yes, the Central Government may, after giving not less than three months' notice, amend the Form set out in the Third Schedule by a notification in the Official Gazette.",BANKI15122014.pdf,169
959,959,What is the power of the Reserve Bank under Section 29A of the Act?,"The Reserve Bank may direct a banking company to annex to its financial statements or furnish to it separately, such statements and information relating to the business or affairs of any associate enterprise of the banking company as the Reserve Bank may consider necessary or expedient.",BANKI15122014.pdf,287
960,960,Who is responsible for conducting a special audit of a banking company's accounts under Section 30 of the Act?,"The Reserve Bank may, at any time, direct that a special audit of the banking company's accounts be conducted and may appoint a person duly qualified under any law to be an auditor of companies to conduct such special audit.",BANKI15122014.pdf,224
961,961,What are the powers of an auditor of a banking company under Section 30 of the Act?,"The auditor shall have the powers of, exercise the functions vested in, and discharge the duties and be subject to the liabilities and penalties imposed on, auditors of companies by Section 227 of the Companies Act, 1956.",BANKI15122014.pdf,221
962,962,What is the requirement for a banking company to obtain the previous approval of the Reserve Bank before appointing or reappointing an auditor?,"Every banking company shall, before appointing or reappointing an auditor, obtain the previous approval of the Reserve Bank.",BANKI15122014.pdf,124
963,963,What is the responsibility of the auditor of a banking company incorporated in India under Section 30 of the Act?,"The auditor shall state in his report whether or not the information and explanation required by him have been found to be satisfactory, whether or not the transactions of the company have been within the powers of the company, and other matters which he considers should be brought to the notice of the shareholders of the company.",BANKI15122014.pdf,332
964,964,Who is responsible for bearing the expenses of a special audit under Section 30 of the Act?,"The banking company shall bear the expenses of, or incidental to, the special audit specified in the order made by the Reserve Bank.",BANKI15122014.pdf,132
965,965,"What is the time limit within which a banking company must publish its accounts and balance sheet, and furnish three copies of the same to the Reserve Bank?",Within three months from the end of the period to which they refer.,BANKI15122014.pdf,67
966,966,Can the Reserve Bank extend the time limit for furnishing returns by a banking company?,"Yes, the Reserve Bank may extend the period of three months for the furnishing of such returns by a further period not exceeding three months.",BANKI15122014.pdf,142
967,967,What is the requirement for a banking company to display its audited balance sheet and profit and loss account?,Every banking company incorporated outside India must display in a conspicuous place in its principal office and in every branch office in India a copy of its last audited balance sheet and profit and loss account prepared under section 29.,BANKI15122014.pdf,240
968,968,"Can a banking company be compelled to produce or give inspection of its books of account or other documents in any proceeding under the Industrial Disputes Act, 1947?","No, a banking company cannot be compelled to produce or give inspection of its books of account or other documents in any proceeding under the Industrial Disputes Act, 1947, if it claims that such document is of a confidential nature.",BANKI15122014.pdf,234
969,969,What is the power of the Reserve Bank to inspect the books and accounts of a banking company?,The Reserve Bank may at any time cause an inspection to be made by one or more of its officers of any banking company and its books and accounts.,BANKI15122014.pdf,145
970,970,Can the Reserve Bank direct a scrutiny of the affairs of a banking company?,"Yes, the Reserve Bank may at any time cause a scrutiny to be made by any one or more of its officers of the affairs of any banking company and its books and accounts.",BANKI15122014.pdf,166
971,971,What is the duty of every director or other officer of a banking company in relation to an inspection or scrutiny by the Reserve Bank?,"Every director or other officer of a banking company must produce to any officer making an inspection or scrutiny all such books, accounts and other documents in his custody or power and furnish him with any statements and information relating to the affairs of the banking company as the said officer may require.",BANKI15122014.pdf,314
972,972,Can the Reserve Bank report to the Central Government on an inspection or scrutiny made under section 35?,"Yes, the Reserve Bank shall report to the Central Government on any inspection or scrutiny made under section 35 if it has been directed by the Central Government to cause an inspection to be made.",BANKI15122014.pdf,197
973,973,What is the power of the Central Government to take action against a banking company based on the report of the Reserve Bank?,"The Central Government may, after giving the banking company an opportunity to make a representation, pass an order in writing if it is of the opinion that the affairs of the banking company are being conducted to the detriment of the interests of its depositors.",BANKI15122014.pdf,263
974,974,Can an inspection or scrutiny be made by the Reserve Bank of a banking company incorporated outside India?,"Yes, the Reserve Bank may cause an inspection or scrutiny to be made of any banking company incorporated outside India.",BANKI15122014.pdf,119
975,975,What is the power of the Central Government under Section 35AA of the Banking Regulation Act?,"The Central Government may, by order, authorise the Reserve Bank to issue directions to any banking company or banking companies to initiate insolvency resolution process in respect of a default, under the provisions of the Insolvency and Bankruptcy Code, 2016.",BANKI15122014.pdf,261
976,976,What is the purpose of Section 35A of the Banking Regulation Act?,"The purpose of Section 35A is to empower the Reserve Bank to give directions to banking companies in the public interest, in the interest of banking policy, or to prevent the affairs of any banking company being conducted in a manner detrimental to the interests of the depositors or in a manner prejudicial to the interests of the banking company.",BANKI15122014.pdf,348
977,977,Can the Reserve Bank modify or cancel any direction issued under Section 35A?,"Yes, the Reserve Bank may, on representation made to it or on its own motion, modify or cancel any direction issued under sub-section (1), and in so modifying or canceling any direction may impose such conditions as it thinks fit, subject to which the modification or cancellation shall have effect.",BANKI15122014.pdf,299
978,978,What is the power of the Reserve Bank under Section 35AB of the Banking Regulation Act?,"The Reserve Bank may, from time to time, issue directions to any banking company or banking companies for resolution of stressed assets, and may specify one or more authorities or committees with such members as the Reserve Bank may appoint or approve for appointment to advise any banking company or banking companies on resolution of stressed assets.",BANKI15122014.pdf,352
979,979,"What is the requirement for amendments to provisions relating to appointments of managing directors, etc. under Section 35B of the Banking Regulation Act?","No amendment of any provision relating to the appointment or re-appointment or termination of appointment or remuneration of a chairman, a managing director or any other director, whole-time or otherwise, or of a manager or a chief executive officer by whatever name called, shall have effect unless approved by the Reserve Bank.",BANKI15122014.pdf,329
980,980,Can the Reserve Bank issue directions to regional rural banks under Section 35A of the Banking Regulation Act?,"Yes, the powers exercisable by the Reserve Bank under Section 35A in relation to regional rural banks may be exercised by the National Bank in relation to the regional rural banks, and accordingly, sub-sections (1) to (5) shall apply in relation to regional rural banks as if every reference to the Reserve Bank included also a reference to the National Bank.",BANKI15122014.pdf,359
981,981,What is the meaning of 'default' under Section 35AA of the Banking Regulation Act?,"For the purposes of Section 35AA, 'default' has the same meaning assigned to it in clause (12) of Section 3 of the Insolvency and Bankruptcy Code, 2016.",BANKI15122014.pdf,152
982,982,"Can the Central Government defer, for such period as it may think fit, the passing of an order under Section 35 of the Banking Regulation Act?","Yes, the Central Government may defer, for such period as it may think fit, the passing of an order under this sub-section, or cancel or modify any such order, upon such terms and conditions as it may think fit to impose.",BANKI15122014.pdf,221
983,983,What is the power of the Reserve Bank under Section 35 of the Banking Regulation Act?,"The Reserve Bank may, if it is satisfied that it is necessary to do so in the public interest or in the interest of banking policy, or to prevent the affairs of any banking company being conducted in a manner detrimental to the interests of the depositors or in a manner prejudicial to the interests of the banking company, issue directions to any banking company or banking companies.",BANKI15122014.pdf,385
984,984,Can the Reserve Bank publish the report submitted by it under Section 35 of the Banking Regulation Act?,"Yes, the Central Government may, after giving reasonable notice to the banking company, publish the report submitted by the Reserve Bank or such portion thereof as may appear necessary.",BANKI15122014.pdf,185
985,985,What is the power of the Reserve Bank to appoint additional directors in a banking company?,"The Reserve Bank may, if it is of the opinion that in the interest of banking policy or in the public interest or in the interests of the banking company or its depositors, appoint one or more persons to hold office as additional directors of the banking company for a period not exceeding three years or such further periods not exceeding three years at a time as the Reserve Bank may specify.",BANKI15122014.pdf,394
986,986,What is the effect of the removal of a person from office under section 36AA?,"The person removed from office shall not be entitled to claim any compensation for the loss or termination of office, notwithstanding anything contained in any law or in any contract, memorandum or articles of association.",BANKI15122014.pdf,222
987,987,What is the power of the Reserve Bank to supersede the Board of Directors of a banking company?,"The Reserve Bank may, for reasons to be recorded in writing, supersede the Board of Directors of a banking company for a period not exceeding six months, which may be extended from time to time, so however that the total period shall not exceed twelve months.",BANKI15122014.pdf,259
988,988,What is the effect of the supersession of the Board of Directors of a banking company?,"Upon supersession of the Board of Directors, the chairman, managing director, and other directors shall vacate their offices, and all powers, functions, and duties of the Board of Directors shall be exercised and discharged by the Administrator appointed by the Reserve Bank.",BANKI15122014.pdf,275
989,989,What is the role of the Administrator appointed by the Reserve Bank in the supersession of the Board of Directors of a banking company?,"The Administrator shall exercise and discharge all powers, functions, and duties of the Board of Directors, and shall be bound to follow the directions of the Reserve Bank, and shall call a general meeting of the company to elect new directors and reconstitute its Board of Directors before the expiration of two months before the expiry of the period of supersession.",BANKI15122014.pdf,368
990,990,What is the punishment for obstructing any person from lawfully entering or leaving any office or place of business of a banking company?,Any person who obstructs any person from lawfully entering or leaving any office or place of business of a banking company shall be punishable under section 36AD.,BANKI15122014.pdf,162
991,991,What is the power of the Reserve Bank to appoint a committee to assist the Administrator in the discharge of his duties?,"The Reserve Bank may constitute a committee of three or more persons who have experience in law, finance, banking, economics, or accountancy to assist the Administrator in the discharge of his duties.",BANKI15122014.pdf,200
992,992,"What is the effect of the appointment of an Administrator on the office of the chairman, managing director, and other directors of a banking company?","Upon the appointment of an Administrator, the chairman, managing director, and other directors shall vacate their offices, and the Administrator shall exercise and discharge all powers, functions, and duties of the Board of Directors.",BANKI15122014.pdf,234
993,993,What is the validity of the power exercised by the Administrator appointed by the Reserve Bank?,The power exercised by the Administrator shall be valid notwithstanding that such power is exercisable by a resolution passed in the general meeting of the banking company.,BANKI15122014.pdf,172
994,994,What is the salary and allowances of the Administrator and the members of the committee constituted under section 36ACA?,The salary and allowances of the Administrator and the members of the committee shall be such as may be specified by the Reserve Bank and shall be payable by the concerned banking company.,BANKI15122014.pdf,188
995,995,What is the punishment for contravening any provision of sub-section (1) without any reasonable excuse?,"Imprisonment for a term which may extend to six months, or with fine which may extend to one thousand rupees, or with both.",BANKI15122014.pdf,123
996,996,"What is the definition of ""Banking Company"" for the purposes of this section?","Includes the Reserve Bank, the Exim Bank, the Reconstruction Bank, the National Housing Bank, the National Bank, the Small Industries Bank, the National Bank for Financing Infrastructure and Development or the other development financial institution, the State Bank of India, a corresponding new bank, a regional rural bank and a subsidiary bank.",BANKI15122014.pdf,346
997,997,Under what circumstances can the Central Government acquire the undertaking of a banking company?,"If the Central Government is satisfied that the banking company has failed to comply with directions given to it in writing under section 21 or section 35A, or if the company is being managed in a manner detrimental to the interests of its depositors, and it is necessary to acquire the undertaking of the company in the interests of the depositors or for the better provision of credit.",BANKI15122014.pdf,387
998,998,What happens to the undertaking of the acquired bank on the appointed day?,"The undertaking of the acquired bank and all its assets and liabilities shall stand transferred to, and vest in, the Central Government, unless the Central Government directs that the undertaking shall vest in a company established under a scheme made under this Part or in any corporation.",BANKI15122014.pdf,290
999,999,Can the Central Government make a scheme for carrying out the purposes of this Part in relation to any acquired bank?,"Yes, the Central Government may, after consultation with the Reserve Bank, make a scheme for carrying out the purposes of this Part in relation to any acquired bank.",BANKI15122014.pdf,165
1000,1000,What matters can the scheme made under section 36AF provide for?,"The scheme can provide for the corporation or company to which the undertaking of the acquired bank may be transferred, the constitution of the first Board of management of the transferee bank, the continuance of the services of employees of the acquired bank, the continuance of the right of any person to receive a pension or other superannuation benefit, and other incidental, consequential and supplemental matters.",BANKI15122014.pdf,419
1001,1001,How is the scheme made under section 36AF published?,"The scheme is published in the Official Gazette, and copies of the scheme are laid before each House of Parliament as soon as may be after it is made.",BANKI15122014.pdf,150
1002,1002,Is the scheme made under section 36AF binding on all parties?,"Yes, the scheme is binding on the Central Government or the transferee bank, and also on all members, creditors, depositors and employees of the acquired bank and of the transferee bank, and on any other person having any right, liability, power or interest in relation to the acquired bank or the transferee bank.",BANKI15122014.pdf,314
1003,1003,"Can the Central Government add to, amend or vary any scheme made under section 36AF?","Yes, the Central Government may, after consultation with the Reserve Bank, by notification in the Official Gazette, add to, amend or vary any scheme made under section 36AF.",BANKI15122014.pdf,173
1004,1004,"What happens to contracts, deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of the acquired bank on the appointed day?","Unless otherwise expressly provided by or under this Part, all contracts, deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of the acquired bank shall be of as full force and effect against or in favour of the Central Government or the transferee bank, as the case may be.",BANKI15122014.pdf,321
1005,1005,What is the purpose of Section 36AG of the Act?,"To provide compensation to shareholders of the acquired bank in respect of the transfer of the undertaking of the acquired bank, as determined in accordance with the principles contained in the Fifth Schedule.",BANKI15122014.pdf,209
1006,1006,Who is entitled to receive compensation under Section 36AG?,"Every person who, immediately before the appointed day, is registered as a holder of shares in the acquired bank, or, when the acquired bank is a banking company incorporated outside India, the acquired bank.",BANKI15122014.pdf,208
1007,1007,How is the amount of compensation determined under Section 36AG?,"The amount of compensation shall be determined in the first instance by the Central Government, or the transferee bank, as the case may be, in consultation with the Reserve Bank, and shall be offered by it to all those to whom compensation is payable under sub-section (1) in full satisfaction thereof.",BANKI15122014.pdf,302
1008,1008,What happens if the amount of compensation offered is not acceptable to any person?,"Such person may, before such date as may be notified by the Central Government in the Official Gazette, request the Central Government in writing, to have the matter referred to the Tribunal constituted under section 36AH.",BANKI15122014.pdf,222
1009,1009,Who constitutes the Tribunal under Section 36AH?,"The Central Government may, for the purpose of this Part, constitute a Tribunal which shall consist of a Chairman and two other members, one of whom shall be a person who is, or has been, a Judge of a High Court or of the Supreme Court, and the other two members shall be persons who have experience of commercial banking and who are chartered accountants respectively.",BANKI15122014.pdf,369
1010,1010,What are the powers of the Tribunal under Section 36AI?,"The Tribunal shall have the powers of a civil court, while trying a suit, under the Code of Civil Procedure, 1908, in respect of summoning and enforcing the attendance of any person, examining him on oath, requiring the discovery and production of documents, receiving evidence on affidavits, and issuing commissions for the examination of witnesses or documents.",BANKI15122014.pdf,363
1011,1011,What is the purpose of Section 37 of the Act?,"To enable the High Court to stay the commencement or continuance of all actions and proceedings against a banking company which is temporarily unable to meet its obligations, on the application of the banking company and subject to certain conditions.",BANKI15122014.pdf,251
1012,1012,Who can make an application under Section 37 of the Act?,A banking company which is temporarily unable to meet its obligations can make an application to the High Court for a stay of all actions and proceedings against it.,BANKI15122014.pdf,165
1013,1013,What is the role of the Reserve Bank under Section 37 of the Act?,"The Reserve Bank is required to indicate in its report whether, in its opinion, the banking company will be able to pay its debts if the application is granted, and the High Court may take into account this report in deciding the application.",BANKI15122014.pdf,242
1014,1014,When can the High Court order the winding up of a banking company under Section 38?,"The High Court shall order the winding up of a banking company if the banking company is unable to pay its debts, or if an application for its winding up has been made by the Reserve Bank under section 37 or section 38 of the Act.",BANKI15122014.pdf,230
1015,1015,Under what circumstances can the Reserve Bank make an application for the winding up of a banking company?,"The Reserve Bank can make an application for the winding up of a banking company if it is directed to do so by an order under clause (b) of sub-section (4) of section 35, or if the banking company has failed to comply with the requirements specified in section 11, or if it has been prohibited from receiving fresh deposits by an order under clause (a) of sub-section (4) of section 35 or under clause (b) of sub-section (3A) of section 42 of the Reserve Bank of India Act, 1934.",BANKI15122014.pdf,479
1016,1016,What is the role of the Court liquidator in the winding up of a banking company?,The Court liquidator is appointed by the Central Government to conduct all proceedings for the winding up of banking companies and perform such other duties as the High Court may impose.,BANKI15122014.pdf,186
1017,1017,Who can be appointed as the official liquidator of a banking company in a winding up proceeding?,"The Reserve Bank, the State Bank of India, or any other bank notified by the Central Government, or any individual, as stated in the application, can be appointed as the official liquidator of a banking company in a winding up proceeding.",BANKI15122014.pdf,238
1018,1018,"What is the remuneration of the official liquidator appointed under section 39, and how are the costs and expenses of the winding up met?","The remuneration of the official liquidator, the cost and expenses of the establishment, and the cost and expenses of the winding up shall be met out of the assets of the banking company, and no fees shall be payable to the Central Government out of the assets of the banking company.",BANKI15122014.pdf,284
1019,1019,What is the procedure for making an estimate of the debts and liabilities of a banking company after a winding up order is made?,"Within 15 days from the date of the winding up order, the official liquidator shall serve a notice on every claimant entitled to preferential payment under section 530 of the Companies Act, 1956, and on secured and unsecured creditors, calling upon them to submit their claims.",BANKI15122014.pdf,277
1020,1020,Can the High Court make an order staying the proceedings in relation to the winding up of a banking company?,"No, the High Court shall not make any order staying the proceedings in relation to the winding up of a banking company, unless it is satisfied that an arrangement has been made whereby the company can pay its depositors in full as their claims accrue.",BANKI15122014.pdf,251
1021,1021,What is the role of the Reserve Bank in the winding up of a banking company?,"The Reserve Bank can make an application for the winding up of a banking company under certain circumstances, and can also be appointed as the official liquidator of the banking company in a winding up proceeding.",BANKI15122014.pdf,213
1022,1022,How is the amount of assets of a banking company in cash which are in the custody or under the control of the official liquidator reported?,"The official liquidator shall submit a preliminary report to the High Court within two months from the date of the winding up order, giving the information required by section 455 of the Companies Act, 1956, so far as it is available, and also stating the amount of assets of the banking company in cash which are in his custody or under his control on the date of the report.",BANKI15122014.pdf,376
1023,1023,What is the purpose of the preliminary report submitted by the official liquidator?,"The purpose of the preliminary report is to provide information to the High Court about the amount of assets of the banking company in cash which are in the custody or under the control of the official liquidator, and to enable the High Court to make an estimate of the debts and liabilities of the banking company.",BANKI15122014.pdf,315
1024,1024,Can the official liquidator make an endeavor to collect in cash as many of the assets of the banking company as practicable?,"Yes, the official liquidator shall make every endeavor to collect in cash as many of the assets of the banking company as practicable, in order to apply them speedily towards the making of preferential payments under section 530 of the Companies Act, 1956, and in the discharge, as far as possible, of the liabilities and obligations of the banking company to its depositors and other creditors.",BANKI15122014.pdf,395
1025,1025,What is the requirement for secured and unsecured creditors in relation to sending a statement of the amount claimed to the official liquidator within one month from the date of the service of the notice?,Every secured and unsecured creditor is required to send a statement of the amount claimed by him to the official liquidator within one month from the date of the service of the notice.,BANKI15122014.pdf,185
1026,1026,What happens if a claimant fails to comply with the notice sent to him under sub-section (1) of Section 41A?,"If a claimant fails to comply with the notice sent to him under sub-section (1), his claim will not be entitled to be paid under Section 530 of the Companies Act, 1956, in priority to all other debts but shall be treated as an ordinary debt due by the banking company.",BANKI15122014.pdf,268
1027,1027,Can the High Court dispense with any meetings of creditors or contributories in the proceedings for winding up a banking company?,"Yes, the High Court may, in the proceedings for winding up a banking company, dispense with any meetings of creditors or contributories if it considers that no object will be secured thereby sufficient to justify the delay and expense.",BANKI15122014.pdf,235
1028,1028,What is the effect of Section 43 of the Banking Companies Act on booked depositors' credits in the winding up of a banking company?,"Every depositor of the banking company shall be deemed to have filed his claim for the amount shown in the books of the banking company as standing to his credit, and the High Court shall presume such claims to have been proved, unless the official liquidator shows that there is reason for doubting its correctness.",BANKI15122014.pdf,316
1029,1029,What is the order of payment in the winding up of a banking company under Section 43A?,"The order of payment is: (1) preferential payments to depositors, (2) payments to depositors in the savings bank account, (3) payments to other depositors, and (4) payments to general creditors.",BANKI15122014.pdf,194
1030,1030,What is the effect of Section 43A on secured creditors in the winding up of a banking company?,The securities given to every secured creditor may be redeemed by the official liquidator on payment of the value of the securities as assessed by him or the official liquidator.,BANKI15122014.pdf,178
1031,1031,"What happens if any claimant, creditor, or depositor to whom any payment is to be made in accordance with Section 43A cannot be found or is not readily traceable?",Adequate provision shall be made by the official liquidator for such payment.,BANKI15122014.pdf,77
1032,1032,What is the ranking of payments in the winding up of a banking company under Section 43A?,"The payments of each different class specified in sub-section (7) of Section 43A shall rank equally among themselves and be paid in full unless the assets are insufficient to meet them, in which case they shall abate in equal proportion.",BANKI15122014.pdf,237
1033,1033,"Is Section 43A applicable to a banking company in respect of which the Deposit Insurance Corporation is liable under Section 16 of the Deposit Insurance Corporation Act, 1961?","No, Section 43A is not applicable to a banking company in respect of which the Deposit Insurance Corporation is liable under Section 16 of the Deposit Insurance Corporation Act, 1961.",BANKI15122014.pdf,183
1034,1034,What is the effect of Section 43A on the payment of sums due to depositors after preferential payments have been made?,The remaining assets of the banking company available for payment to general creditors shall be utilised for payment on a pro rata basis of the debts of the general creditors and of the sums due to the depositors.,BANKI15122014.pdf,213
1035,1035,What is the condition for a banking company to be voluntarily wound up?,No banking company may be voluntarily wound up unless the Reserve Bank certifies in writing that the company is able to pay in full all its debts to its creditors as they accrue.,BANKI15122014.pdf,178
1036,1036,Can the High Court order the winding up of a banking company in any case?,"Yes, the High Court may, of its own motion and shall on the application of the Reserve Bank, order the winding up of a banking company by the High Court in any of the specified cases.",BANKI15122014.pdf,183
1037,1037,What is the procedure for amalgamation of banking companies?,"A scheme containing the terms of amalgamation must be placed in draft before the shareholders of each of the banking companies concerned separately, and approved by a resolution passed by a majority in number representing two-thirds in value of the shareholders of each of the said companies, present either in person or by proxy at a meeting called for the purpose.",BANKI15122014.pdf,366
1038,1038,Can a shareholder who has voted against the scheme of amalgamation claim the value of their shares?,"Yes, any shareholder who has voted against the scheme of amalgamation at the meeting or has given notice in writing at or prior to the meeting of the company concerned or to the presiding officer of the meeting that they dissent from the scheme of amalgamation, shall be entitled to claim the value of their shares as determined by the Reserve Bank when sanctioning the scheme.",BANKI15122014.pdf,377
1039,1039,Can the Reserve Bank direct the dissolution of an amalgamated banking company?,"Yes, where a scheme of amalgamation is sanctioned by the Reserve Bank, the Reserve Bank may, by a further order in writing, direct that on such date as may be specified therein the banking company which by reason of the amalgamation will cease to function, shall stand dissolved.",BANKI15122014.pdf,279
1040,1040,Can the Central Government provide for the amalgamation of two or more banking companies?,"Yes, nothing in the foregoing provisions of the section shall affect the power of the Central Government to provide for the amalgamation of two or more banking companies under section 396 of the Companies Act, 1956, but such power shall not be exercised by the Central Government except after consultation with the Reserve Bank.",BANKI15122014.pdf,328
1041,1041,Can a compromise or arrangement between a banking company and its creditors or members be sanctioned without the Reserve Bank's certificate?,"No, no High Court shall sanction a compromise or arrangement between a banking company and its creditors or members, or any class of them, unless the compromise or arrangement is certified by the Reserve Bank in writing as being not incapable of being worked and as not being detrimental to the interests of the depositors of such banking company.",BANKI15122014.pdf,347
1042,1042,Can the Reserve Bank be directed to make an inquiry into the affairs of a banking company?,"Yes, where an application under section 39 of the Companies Act, 1956 is made in respect of a banking company, the High Court may direct the Reserve Bank to make an inquiry in relation to the affairs of the banking company and the conduct of its directors.",BANKI15122014.pdf,256
1043,1043,Can the Reserve Bank apply to the Central Government for the suspension of business by a banking company?,"Yes, the Reserve Bank may apply to the Central Government for the suspension of business by a banking company and prepare a scheme of reconstitution or amalgamation.",BANKI15122014.pdf,165
1044,1044,Can a copy of the order sanctioning the scheme of amalgamation be used as evidence in legal proceedings?,"Yes, an order under sub-section (4) of section 44A, whether made before or after the commencement of section 19 of the Banking Laws (Miscellaneous Provisions) Act, 1963, shall be conclusive evidence that all the requirements of the section relating to amalgamation have been complied with, and a copy of the said order certified in writing by an officer of the Reserve Bank, along with a copy of the scheme certified in like manner, shall be admitted as evidence to the same extent as the original order and the original scheme.",BANKI15122014.pdf,528
1045,1045,Under what circumstances can the Reserve Bank apply to the Central Government for an order of moratorium in respect of a banking company?,"When it appears to the Reserve Bank that there is good reason to do so, notwithstanding anything contained in the foregoing provisions of this Part or in any other law or any agreement or other instrument, for the time being in force.",BANKI15122014.pdf,234
1046,1046,What is the maximum period for which the Central Government can extend the moratorium?,The total period of moratorium shall not exceed six months.,BANKI15122014.pdf,59
1047,1047,What are the restrictions on the banking company during the period of moratorium?,"Except as otherwise provided by any directions given by the Central Government in the order made by it under sub-section (2) or at any time thereafter, the banking company shall not during the period of moratorium make any payment to any depositors or discharge any liabilities or obligations to any other creditors or grant any loans or advances or make investments in any credit instruments.",BANKI15122014.pdf,393
1048,1048,Under what circumstances can the Reserve Bank prepare a scheme for the reconstruction or amalgamation of a banking company?,"If the Reserve Bank is satisfied that in the public interest, or in the interests of the depositors, or in order to secure the proper management of the banking company, or in the interests of the banking system of the country as a whole, it is necessary to do so.",BANKI15122014.pdf,263
1050,1050,What is the provision regarding the continuation of services of employees of the banking company?,"The scheme shall contain a provision that the banking company shall pay or grant not later than the expiry of the period of three years from the date on which the scheme is sanctioned by the Central Government, to the said employees the same remuneration and the same terms and conditions of service as are, at the time of such payment or grant, applicable to employees of corresponding rank or status of a comparable banking company.",BANKI15122014.pdf,434
1051,1051,What is the provision regarding the payment of compensation to employees who do not become employees of the reconstructed or amalgamated bank?,"The payment to such employees of compensation, if any, to which they are entitled under the Industrial Disputes Act, 1947, and such pension, gratuity, provident fund and other retirement benefits ordinarily admissible to them under the rules or authorisations of the banking company immediately before the reconstruction or amalgamation.",BANKI15122014.pdf,337
1052,1052,What is the process for sending the draft scheme prepared by the Reserve Bank to the concerned parties?,"A copy of the scheme prepared by the Reserve Bank shall be sent in draft to the banking company and also to the transferee bank and any other banking company concerned in the reconstruction or amalgamation, for suggestions and objections, if any, within such period as the Reserve Bank may specify for this purpose.",BANKI15122014.pdf,315
1053,1053,What is the purpose of the Reserve Bank sending the draft scheme to the concerned parties?,"The purpose is to seek suggestions and objections, if any, from the concerned parties within a specified period.",BANKI15122014.pdf,112
1054,1054,Who has the final decision-making authority in case of doubts or differences regarding the qualifications and experience of employees?,The Reserve Bank has the final decision-making authority in case of doubts or differences regarding the qualifications and experience of employees.,BANKI15122014.pdf,147
1055,1055,"What are the provisions for a scheme of amalgamation or reconstruction of a banking company, and what is the role of the Reserve Bank and the Central Government in this process?","The Reserve Bank may make such modifications, if any, in the draft scheme as it may consider necessary in the light of the suggestions and objections received from the banking company and also from the transferee bank, and any other banking company concerned in the amalgamation. The Central Government may sanction the scheme without any modifications or with such modifications as it may consider necessary, and the scheme as sanctioned by the Central Government shall come into force on such date as the Central Government may specify.",BANKI15122014.pdf,538
1056,1056,What is the effect of the sanction of the scheme by the Central Government on the parties concerned?,"On and from the date of the coming into operation of the scheme or any provision thereof, the scheme or such provision shall be binding on the banking company, or, as the case may be, on the transferee bank and any other banking company concerned in the amalgamation and also on all the members, depositors and other creditors and employees of each of those companies and of the transferee bank, and on any other person having any right or liability in relation to any of those companies or the transferee bank.",BANKI15122014.pdf,511
1057,1057,What are the provisions for the transfer of properties and assets of the banking company to the transferee bank?,"On and from the date of the coming into operation or, or as the case may be, the date specified in this behalf in, the scheme, the properties and assets of the banking company shall, by virtue of and to the extent provided in the scheme, stand transferred to, and vest in, and the liabilities of the banking company shall, by virtue of and to the extent provided in the scheme, stand transferred to, and become the liabilities of the transferee bank.",BANKI15122014.pdf,450
1058,1058,What is the role of the Central Government in removing any difficulties that may arise in giving effect to the provisions of the scheme?,"If any difficulty arises in giving effect to the provisions of the scheme, the Central Government may by order do anything not inconsistent with such provisions which appears to it necessary or expedient for the purpose of removing the difficulty.",BANKI15122014.pdf,247
1059,1059,What are the provisions for laying copies of the scheme or of any order made under sub-section (10) before both Houses of Parliament?,"Copies of the scheme or of any order made under sub-section (10) shall be laid before both Houses of Parliament, as soon as may be, after the scheme has been sanctioned by the Central Government, or, as the case may be, the order has been made.",BANKI15122014.pdf,244
1060,1060,What is the effect of the scheme on the business acquired by the transferee bank under the scheme?,"Any business acquired by the transferee bank under the scheme or under any provision thereof shall, after the coming into operation of the scheme or such provision, be carried on by the transferee bank in accordance with the law governing the transferee bank, subject to such modifications in that law or such exemptions of the transferee bank from the operation of any provisions thereof as the Central Government on the recommendation of the Reserve Bank may, by notification in the Official Gazette, make for the purpose of giving full effect to the scheme.",BANKI15122014.pdf,560
1061,1061,What are the provisions for the amalgamation of several banking companies in respect of each of which an order of moratorium has been made?,Nothing in this section shall be deemed to prevent the amalgamation with a banking institution by a single scheme of several banking companies in respect of each of which an order of moratorium has been made under this section.,BANKI15122014.pdf,227
1062,1062,"What are the provisions for the special provisions for speedy disposal of winding up proceedings, and how do these provisions override other laws?","The provisions of this Part and the rules made thereunder shall have effect notwithstanding anything inconsistent therewith contained in the Companies Act, 1956 or the Code of Civil Procedure, 1908, or the Code of Criminal Procedure, 1973 or any other law for the time being in force or any instrument having effect by virtue of any such law.",BANKI15122014.pdf,342
1063,1063,What is the jurisdiction of the High Court in respect of claims made by or against a banking company which is being wound up?,"The High Court shall, save as otherwise expressly provided in section 45C, have exclusive jurisdiction to entertain and decide any claim made by or against a banking company which is being wound up (including claims by or against any of its branches in India) or any application made under section 39 of the Companies Act, 1956 by or in respect of a banking company or any question of priorities or any other question whatsoever, whether of law or fact, which may relate to or arise in the course of the winding up of a banking company.",BANKI15122014.pdf,536
1064,1064,What are the provisions for the transfer of pending proceedings in respect of a banking company which is being wound up?,"Where a winding up order is made or has been made in respect of a banking company, no suit or other legal proceeding, whether civil or criminal, in respect of which the High Court has jurisdiction under this Act and which is pending in any other court immediately before the commencement of the Banking Companies (Amendment) Act, 1953, shall be continued in that court, but shall be transferred to the High Court and be dealt with by it as if the winding up order had been made by it.",BANKI15122014.pdf,484
1065,1065,What is the procedure for dealing with pending proceedings against a banking company that is being wound up?,"The official liquidator shall submit a report to the High Court containing a list of all pending proceedings, and the High Court may transfer such proceedings to itself or allow them to continue in the original court.",BANKI15122014.pdf,217
1066,1066,How does the High Court settle a list of debtors of a banking company that is being wound up?,"The High Court may settle a list of debtors in the manner provided by rules made under section 45U, and may pass an order for the payment of the amount due by each debtor and make further orders as necessary.",BANKI15122014.pdf,208
1067,1067,What is the effect of an order settling a list of debtors under section 45D?,"Every such order shall be final and binding for all purposes as between the banking company and the person against whom the order is passed, and shall be deemed to be a decree in a suit.",BANKI15122014.pdf,186
1068,1068,Can a person against whom an order has been passed under section 45D apply to the High Court to vary the order?,"Yes, such person may apply to the High Court within 30 days from the date of the order, and the High Court may vary the order if it is satisfied that the person was prevented by sufficient cause from appearing on the date fixed for the settlement of the list.",BANKI15122014.pdf,259
1069,1069,What is the power of the High Court to sanction a compromise in respect of any debt under section 45D?,The High Court may sanction a compromise in respect of any debt and order the payment of any debt by installments.,BANKI15122014.pdf,114
1070,1070,Can the High Court make a call on and order payment by any contributory under section 45E?,"Yes, the High Court may make a call on and order payment by any contributory if it appears necessary or expedient to do so, and if the contributory has been placed on the list of contributories by the official liquidator and has not appeared to dispute his liability.",BANKI15122014.pdf,267
1071,1071,What is the effect of entries in the books of account or other documents of a banking company under section 45F?,"Such entries shall be admitted in evidence in all legal proceedings, and shall be prima facie evidence of the truth of all matters purporting to be recorded therein, as against the directors, officers, and employees of the banking company.",BANKI15122014.pdf,239
1072,1072,Can the official liquidator submit a report to the High Court on whether any loss has been caused to the banking company under section 45G?,"Yes, the official liquidator shall submit a report to the High Court on whether any loss has been caused to the banking company since its formation by any act or omission of any person in the promotion or formation of the banking company or of any director or auditor of the banking company.",BANKI15122014.pdf,291
1073,1073,What is the procedure for the public examination of directors and auditors under section 45G?,"The High Court may hold a public sitting and direct that such person, director, or auditor shall attend and be publicly examined as to the promotion or formation or the conduct of the business of the banking company, or as to his conduct and dealings, insofar as they relate to the affairs of the banking company.",BANKI15122014.pdf,313
1074,1074,Can any creditor or contributory take part in the examination of a person under section 45G?,"Yes, any creditor or contributory may take part in the examination either personally or by any person entitled to appear before the High Court.",BANKI15122014.pdf,143
1075,1075,What is the provision for a person who has been a director of a banking company and is found not fit to be a director of a company?,"The High Court may make an order that the person shall not, without the leave of the High Court, be a director of, or in any way, whether directly or indirectly, be concerned or take part in the management of a company for a period not exceeding five years.",BANKI15122014.pdf,257
1076,1076,What is the provision for a person who has been an auditor of a banking company and is found not fit to act as an auditor of a company?,"The High Court may make an order that the person shall not, without the leave of the High Court, act as an auditor of, or be a partner of a firm acting as auditors of, a company for a period not exceeding five years.",BANKI15122014.pdf,216
1077,1077,"What is the provision for assessing damages against delinquent directors, etc. of a banking company?","The High Court may make an order against a promoter, director, manager, liquidator or officer of a banking company to repay and restore any money or property unless they prove that they are not liable to make the repayment or restoration.",BANKI15122014.pdf,238
1078,1078,What is the provision for the attachment of property of a person who has taken part in the promotion or formation of a banking company?,"The High Court may direct the attachment of such property, or such portion thereof, as it thinks fit, and the property so attached shall remain subject to attachment unless the ostensible owner can prove to the satisfaction of the High Court that they are the real owner.",BANKI15122014.pdf,271
1079,1079,What is the duty of directors and officers of a banking company being wound up?,Every director or other officer of a banking company which is being wound up shall give such assistance to the official liquidator as they may reasonably require in connection with the realisation and distribution of the property of the banking company.,BANKI15122014.pdf,253
1080,1080,What is the provision for punishing offences in relation to banking companies being wound up?,"The High Court may take cognizance of and try in a summary way any offence alleged to have been committed by any person who has taken part in the promotion or formation of the banking company or by any director, manager or officer thereof.",BANKI15122014.pdf,239
1081,1081,What is the provision for the public examination of directors and auditors of a banking company under schemes of arrangement?,"The High Court may direct the public examination of any person who has taken part in the promotion or formation of the banking company or has been a director or auditor of the banking company, and the provisions of section 45G shall, as far as may be, apply to the banking company.",BANKI15122014.pdf,281
1082,1082,"What is the provision for the application of section 543 of the Companies Act, 1956 to a banking company under schemes of arrangement?","The provisions of section 543 of the Companies Act, 1956 and of section 45H of this Act shall, as far as may be, apply to the banking company as they apply to a banking company which is being wound up.",BANKI15122014.pdf,201
1083,1083,What is the provision for the power of the High Court to enforce schemes of arrangement?,"The High Court may enforce schemes of arrangement sanctioned by the Central Government under section 45, and the provisions of section 45K shall, as far as may be, apply to the banking company.",BANKI15122014.pdf,193
1084,1084,What is the provision for the examination of a person who has taken part in the promotion or formation of a banking company under a scheme of reconstruction or amalgamation?,"The Central Government may apply to the High Court for the examination of such person, and if on such examination the High Court finds that the person is not fit to be a director of a company or to act as an auditor of a company, the Central Government shall make an order that the person shall not, without the leave of the Central Government, be a director of, or in any way, whether directly or indirectly, be concerned or take part in the management of any company.",BANKI15122014.pdf,469
1085,1085,What is the provision for banking companies working under schemes of arrangement at the commencement of the Amendment Act?,"The High Court may, if it so thinks fit, on the application of such banking company, excuse any delay in carrying out any of the provisions of the compromise or arrangement, or allow the banking company to settle the list of its debtors in accordance with the provisions of section 45D.",BANKI15122014.pdf,286
1086,1086,What is the appeal process for orders or decisions of the High Court in a civil proceeding under this Act?,An appeal shall lie from any order or decision of the High Court in a civil proceeding under this Act when the amount or value of the subject-matter of the claim exceeds five thousand rupees.,BANKI15122014.pdf,191
1087,1087,What is the special period of limitation for suits or applications by a banking company which is being wound up?,The period commencing from the date of the presentation of the petition for the winding up of the banking company shall be excluded in computing the period of limitation prescribed for a suit or application by a banking company which is being wound up.,BANKI15122014.pdf,252
1088,1088,What is the power of the Reserve Bank to tender advice in winding up proceedings?,"The Reserve Bank may, on being directed by the High Court, examine the record of the proceeding and tender such advice on the matter as it may think fit.",BANKI15122014.pdf,153
1089,1089,What is the power of the Reserve Bank to inspect a banking company which is being wound up?,"The Reserve Bank shall, on being directed by the Central Government or by the High Court, cause an inspection to be made by one or more of its officers of a banking company which is being wound up and its books and accounts.",BANKI15122014.pdf,224
1090,1090,What is the power of the Reserve Bank to call for returns and information from the liquidator of a banking company?,"The Reserve Bank may, at any time, require the liquidator of a banking company to furnish it with any statement or information relating to or connected with the winding up of the banking company.",BANKI15122014.pdf,195
1091,1091,What is the role of the Chief Presidency Magistrate and District Magistrate in assisting the official liquidator in taking charge of the property of a banking company being wound up?,"The Chief Presidency Magistrate or the District Magistrate, as the case may be, shall, on request in writing, take possession of the property, books of accounts or other documents of the banking company and forward them to the official liquidator or the special officer.",BANKI15122014.pdf,270
1092,1092,What is the provision for the sale of property and effects of a banking company by the Chief Metropolitan Magistrate or the Chief Judicial Magistrate?,"The Chief Metropolitan Magistrate or the Chief Judicial Magistrate, as the case may be, shall, on request in writing, sell the property and effects of the banking company and forward the net proceeds to the official liquidator or the special officer.",BANKI15122014.pdf,250
1093,1093,What is the power of the High Court to give directions on the report of the Reserve Bank on the inspection of a banking company which is being wound up?,"The High Court may, on receipt of the report of the Reserve Bank, give such directions as it may think fit, after giving notice to and hearing the Central Government in regard to the report.",BANKI15122014.pdf,190
1094,1094,What is the provision for the finality of orders and decisions of the High Court in winding up proceedings?,"Every order or decision of the High Court shall be final and binding for all purposes as between the banking company on the one hand, and all persons who are parties thereto and all persons claiming through or under them or any of them, on the other hand.",BANKI15122014.pdf,255
1095,1095,What is the manner in which orders made by a High Court in a civil proceeding may be enforced?,Orders made by a High Court in a civil proceeding may be enforced in the same manner in which decrees of such court made in any suit pending therein may be enforced.,BANKI15122014.pdf,165
1096,1096,Can a liquidator apply for the execution of a decree by a court other than the one that made it?,"Yes, a liquidator may apply for the execution of a decree by a court other than the one that made it on production of a certificate granted under sub-section (6) of section 45D and on certifying to such other court in writing the amount remaining due or relief remaining unenforced under the decree.",BANKI15122014.pdf,299
1097,1097,How can a banking company recover an amount found due to it by an order or decision of the High Court?,"A banking company may recover an amount found due to it by an order or decision of the High Court by applying to the Collector within whose jurisdiction the property of the person against whom the order or decision has been made is situated, and the Collector shall proceed to recover the amount as if it were an arrear of land revenue.",BANKI15122014.pdf,336
1098,1098,What is the power of the High Court to make rules under the Act?,"The High Court may make rules consistent with the Act and the rules made under section 52, prescribing the manner in which inquiries and proceedings under Part III or Part IIIA may be held, the offences which may be tried summarily, and any other matter for which provision has to be made for enabling the High Court to effectively exercise its functions under the Act.",BANKI15122014.pdf,369
1099,1099,"How are references to directors, managers, liquidators, officers, or auditors of a banking company construed?","References to directors, managers, liquidators, officers, or auditors of a banking company shall be construed as including references to any past or present director, manager, liquidator, officer, or auditor of the banking company.",BANKI15122014.pdf,231
1100,1100,Can a banking company be wound up under Part II of the Act?,"No, nothing contained in Part II shall apply to a banking company which is being wound up.",BANKI15122014.pdf,90
1101,1101,What is the power of the Central Government to make rules for the preservation of records?,"The Central Government may, after consultation with the Reserve Bank and by notification in the Official Gazette, make rules specifying the periods for which a banking company shall preserve its books, accounts, and other documents, and the periods for which a banking company shall preserve different instruments paid by it.",BANKI15122014.pdf,325
1102,1102,How can a banking company return paid instruments to its customers?,"A banking company shall not return a paid instrument to its customer except after making and keeping in its possession a true copy of all relevant parts of such instrument, and the banking company shall be entitled to recover from the customer the cost of making such copies.",BANKI15122014.pdf,275
1103,1103,Can a depositor nominate a person to receive the amount of deposit in the event of his death?,"Yes, a depositor may nominate one person to whom, in the event of his death, the amount of deposit may be returned by the banking company, and the nominee shall become entitled to all the rights of the depositor in relation to such deposit to the exclusion of all other persons.",BANKI15122014.pdf,278
1104,1104,How can a banking company deal with claims of other persons regarding deposits or articles kept in safe custody?,"A banking company shall not receive any notice of the claim of any person, other than the person or persons in whose name a deposit is held or an article is kept in safe custody, and the banking company shall not be bound by any such notice, except where a decree, order, certificate, or other authority from a court of competent jurisdiction is produced before the banking company.",BANKI15122014.pdf,382
1105,1105,What is the provision for nomination of a person to access a locker in the event of the death of the sole hirer?,"The individual may nominate one person to whom, in the event of the death of such individual, the banking company may give access to the locker and liberty to remove the contents of the locker.",BANKI15122014.pdf,193
1106,1106,What is the procedure for nomination of a person to access a locker in the event of the death of joint hirers?,"The joint hirers may nominate one or more persons to whom, in the event of the death of such joint hirer or hirers, the banking company may give, jointly with the surviving joint hirer or joint hirers, as the case may be, access to the locker and liberty to remove the contents of such locker.",BANKI15122014.pdf,293
1107,1107,What is the liability of the banking company in relation to the contents of a locker after the removal of the contents by a nominee or jointly by a nominee and survivors?,The liability of the banking company in relation to the contents of the locker shall stand discharged.,BANKI15122014.pdf,102
1108,1108,"Can a suit, prosecution or other legal proceedings be initiated against a banking company for allowing access to a locker and liberty to remove the contents of such locker in pursuance of the provisions of sub-section (1) or sub-section (2)?","No, no suit, prosecution or other legal proceedings shall lie against a banking company for any damage caused or likely to be caused, for allowing access to any locker, and liberty to remove the contents of such locker, in pursuance of the provisions of sub-section (1) or sub-section (2) as the case may be.",BANKI15122014.pdf,308
1109,1109,What is the provision for notice of claims of other persons regarding safety lockers?,"No notice of the claim of any person, other than the hirer or hirers of a locker, shall be receivable by a banking company nor shall the banking company be bound by any such notice even though expressly given to it.",BANKI15122014.pdf,215
1110,1110,"What is the penalty for making a false statement in any return, balance-sheet or other document required or furnished by or under or for the purposes of any provision of the Act?","The person shall be punishable with imprisonment for a term which may extend to three years or with fine, which may extend to one crore rupees or with both.",BANKI15122014.pdf,156
1111,1111,"What is the penalty for failing to produce any book, account or other document or to furnish any statement or information required under sub-section (2) of section 35?","The person shall be punishable with a fine which may extend to twenty lakh rupees in respect of each offence, and if he persists in such refusal, to a further fine which may extend to fifty thousand rupees for every day during which the offence continues.",BANKI15122014.pdf,255
1112,1112,"What is the penalty for contravening any provision of the Act or making a default in complying with any requirement of the Act or of any order, rule or direction made or condition imposed thereunder?","The person shall be punishable with fine which may extend to one crore rupees or twice the amount involved in such contravention or default where such amount is quantifiable, whichever is more, and where a contravention or default is a continuing one, with a further fine which may extend to one lakh rupees for every day during which the contravention or default continues.",BANKI15122014.pdf,374
1113,1113,Who is deemed to be a public servant for the purposes of Chapter IX of the Indian Penal Code?,"Every Chairman who is appointed on a whole-time basis, managing director, director, auditor, liquidator, manager and any other employee of a banking company shall be deemed to be a public servant for the purposes of Chapter IX of the Indian Penal Code.",BANKI15122014.pdf,252
1114,1114,What is the provision for cognizance of offences under the Act?,The provision for cognizance of offences under the Act is specified in Section 47 of the Act.,BANKI15122014.pdf,93
1115,1115,What are the provisions of sections that shall also apply to and in relation to the State Bank of India or a corresponding new bank or a Regional Rural Bank or any subsidiary bank?,"Sections 10, 13 to 15, 17, 19 to 21A, 23 to 28, 29 excluding sub-section (3), 29-A, sub-section (1B), (1C) and (2) of sections 30, 31, 34, 35, 35A, 35-AA, 35-AB, 36 excluding clause (a) of sub-section (1), 45Y to 45ZF, 46 to 48, 50, 52 and 53.",BANKI15122014.pdf,243
1116,1116,What is the proviso to the application of certain provisions to the State Bank of India or corresponding new bank or Regional Rural Bank or subsidiary bank?,"Nothing contained in clause (c) of sub-section (1) of section 10 shall apply to the chairman of the State Bank of India or to a managing director of any subsidiary bank, and nothing contained in sub-clause (iii) of clause (b) of sub-section (1) of section 20 shall apply to any bank referred to in sub-section (1), and nothing contained in section 46 or section 47A shall apply to an officer of the Central Government or the Reserve Bank, nominated or appointed as director of the State Bank of India or any corresponding new bank or Regional Rural Bank or subsidiary bank or banking company.",BANKI15122014.pdf,592
1117,1117,What is the power of the Reserve Bank not to apply to International Financial Services Centre?,"The powers exercisable by the Reserve Bank under this Act shall not extend to an International Financial Services Centre set up under sub-Section (1) of Section 18 of the Special Economic Zones Act, 2005, and shall be exercisable by the International Financial Services Centres Authority established under sub-Section (1) of Section 4 of the International Financial Services Centres Authority Act, 2019, in so far as regulation of financial products, financial services and financial institutions permitted in the International Financial Services Centre are concerned.",BANKI15122014.pdf,568
1118,1118,What is the power of the Central Government to make rules under section 52?,"The Central Government may, after consultation with the Reserve Bank, make rules to provide for all matters for which provision is necessary or expedient for the purpose of giving effect to the provisions of this Act, and such rules shall be published in the Official Gazette.",BANKI15122014.pdf,276
1119,1119,What are the details that may be included in the returns required by the Act under section 52?,"The returns may include the details to be included in the returns required by this Act and the manner in which such returns shall be submitted, and the form in which the official liquidator may file lists of debtors to the court having jurisdiction under Part III or Part IIIA, and the particulars which such lists may contain.",BANKI15122014.pdf,327
1120,1120,What is the power of the Central Government to exempt in certain cases under section 53?,"The Central Government may, on the recommendation of the Reserve Bank, declare, by notification in the Official Gazette, that any or all of the provisions of this Act shall not apply to any banking company or institution or to any class of banking companies or to any branch of a banking company or an institution, either generally or for such period as may be specified.",BANKI15122014.pdf,371
1121,1121,What is the procedure for laying a copy of every notification proposed to be issued under sub-section (1) of section 53 before each House of Parliament?,"A copy of every notification proposed to be issued under sub-section (1) shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in disapproving the issue of the notification or both Houses agree in making any modification in the notification, the notification shall not be issued or, as the case may be, shall be issued only in such modified form as may be agreed upon by both the Houses.",BANKI15122014.pdf,655
1122,1122,What is the protection of action taken under the Act under section 54?,"No suit, prosecution or other legal proceeding shall lie against the Central Government or the Reserve Bank or any other person for anything done or intended to be done in good faith under this Act.",BANKI15122014.pdf,198
1123,1123,"What is the power of the Central Government to annul, alter or add to the provisions of the Fourth Schedule under section 52?","The Central Government may by rules made under this section annul, alter or add to, all or any of the provisions of the Fourth Schedule.",BANKI15122014.pdf,136
1124,1124,What is the requirement for laying every rule made by the Central Government under this Act before each House of Parliament under section 52?,"Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be.",BANKI15122014.pdf,605
1125,1125,"What is the purpose of Section 55A of the Act, and what is the time limit for exercising the power to remove difficulties?","The purpose of Section 55A is to provide power to the Central Government to remove difficulties that may arise in giving effect to the provisions of the Act. The power to remove difficulties can be exercised for a period of three years from the commencement of section 20 of the Banking Laws (Amendment) Act, 1968 (58 of 1968).",BANKI15122014.pdf,327
1126,1126,"How does the Act apply to co-operative societies, and what are the modifications that are made to the Act in relation to co-operative societies?","The Act applies to co-operative societies subject to modifications. The modifications include changes to the definitions of 'banking company', 'commencement of this Act', 'memorandum of association', 'articles of association', 'Registrar', and 'Registrar of Companies'. Additionally, certain sections of the Act, such as Section 2, 5, 6, 7, and 11, are modified or substituted in their application to co-operative societies.",BANKI15122014.pdf,424
1127,1127,"What is the meaning of 'co-operative bank' as defined in the Act, and what are the different types of co-operative banks?","According to the Act, a 'co-operative bank' means a state co-operative bank, a central co-operative bank, and a primary co-operative bank. These types of co-operative banks are defined in Section 5 of the Act, and they have different characteristics and requirements, such as minimum paid-up capital and reserves, and restrictions on the admission of other co-operative societies as members.",BANKI15122014.pdf,391
1128,1128,"What is the purpose of Section 56 of the Act, and how does it apply to co-operative societies?","The purpose of Section 56 is to apply the provisions of the Act to co-operative societies, subject to modifications. This section provides that the Act shall apply to co-operative societies as it applies to banking companies, with certain modifications, including changes to the definitions and provisions related to co-operative societies.",BANKI15122014.pdf,340
1129,1129,"What are the requirements for a co-operative bank to commence or carry on the business of banking in India, and what is the minimum paid-up capital and reserves required?","According to Section 11 of the Act, a co-operative bank shall not commence or carry on the business of banking in India unless the aggregate value of its paid-up capital and reserves is not less than one lakh of rupees. This requirement is subject to certain exceptions, such as primary agricultural credit societies and primary credit societies.",BANKI15122014.pdf,346
1130,1130,"What is the meaning of 'primary agricultural credit society' and 'primary credit society' as defined in the Act, and what are the characteristics of these types of societies?","According to the Act, a 'primary agricultural credit society' is a co-operative society that provides financial accommodation to its members for agricultural purposes or for purposes connected with agricultural activities. A 'primary credit society' is a co-operative society that provides financial accommodation to its members, but it is not a primary agricultural credit society. These types of societies have different characteristics, such as minimum paid-up capital and reserves, and restrictions on the admission of other co-operative societies as members.",BANKI15122014.pdf,563
1131,1131,"What is the purpose of Section 7 of the Act, and how does it apply to co-operative societies?","The purpose of Section 7 is to regulate the use of the words 'bank', 'banker', and 'banking' by co-operative societies. According to this section, no co-operative society other than a co-operative bank shall use these words as part of its name or in connection with its business, and no co-operative society shall carry on the business of banking in India unless it uses at least one of these words as part of its name.",BANKI15122014.pdf,419
1132,1132,"What are the exceptions to the prohibition on the use of the words 'bank', 'banker', and 'banking' by co-operative societies, and what are the conditions for these exceptions?","According to Section 7 of the Act, there are certain exceptions to the prohibition on the use of the words 'bank', 'banker', and 'banking' by co-operative societies. These exceptions include primary credit societies, co-operative societies formed for the protection of the mutual interest of co-operative banks, and co-operative societies formed by the employees of banking companies or co-operative banks. These exceptions are subject to certain conditions, such as the use of the words 'bank', 'banker', or 'banking' as part of the name of the employer bank or co-operative bank.",BANKI15122014.pdf,581
1133,1133,"What is the purpose of Section 55 of the Act, and how does it amend the Reserve Bank of India Act, 1934?","The purpose of Section 55 is to amend the Reserve Bank of India Act, 1934, in the manner specified in the First Schedule to the Act. The amendments to Section 18 of the Reserve Bank of India Act, 1934, as specified in the Schedule, shall be deemed to have had effect on and from the 20th day of September, 1947.",BANKI15122014.pdf,311
1134,1134,"What is the purpose of Section 2 of the Act, and how does it define the terms 'banking company' and 'co-operative bank'?","The purpose of Section 2 is to define the terms 'banking company' and 'co-operative bank' for the purposes of the Act. According to this section, a 'banking company' means a company that transacts the business of banking, and a 'co-operative bank' means a co-operative society that transacts the business of banking.",BANKI15122014.pdf,316
1135,1135,"What is the duration for which a co-operative bank can continue its business without complying with the Banking Laws (Application to Co-operative Societies) Act, 1965, if it was already carrying on such business at the commencement of the Act?",Three years from the commencement of the Act.,BANKI15122014.pdf,45
1136,1136,"What is the duration for which a primary credit society can continue its business without complying with the Banking Laws (Application to Co-operative Societies) Act, 1965, after it becomes a primary co-operative bank?","Two years from the date it becomes a primary co-operative bank, or for such further period not exceeding one year, as the Reserve Bank may allow.",BANKI15122014.pdf,145
1137,1137,What is the meaning of 'value' for the purpose of computing the aggregate value of the paid-up capital and reserves of a co-operative bank?,"The real or exchangeable value, and not the nominal value which may be shown in the books of the co-operative bank concerned.",BANKI15122014.pdf,125
1138,1138,Who has the final authority to determine any dispute arising in computing the aggregate value of the paid-up capital and reserves of a co-operative bank?,The Reserve Bank.,BANKI15122014.pdf,17
1139,1139,What is the minimum maturity period for unsecured debentures or bonds or other like securities that can be issued by a co-operative bank?,Ten years.,BANKI15122014.pdf,10
1140,1140,"Can a co-operative bank withdraw or reduce its share capital, and if so, under what conditions?","Yes, but only to the extent and subject to such conditions as the Reserve Bank may specify.",BANKI15122014.pdf,91
1141,1141,What is the minimum cash reserve that a co-operative bank is required to maintain in India?,"A sum equivalent to such percentage of the total of its demand and time liabilities in India, as specified by the Reserve Bank.",BANKI15122014.pdf,127
1142,1142,"How is the cash reserve of a co-operative bank to be maintained, and what are the different ways in which it can be maintained?","The cash reserve can be maintained by way of cash with itself, or by way of balance in a current account with the Reserve Bank or the State co-operative bank of the State concerned, or by way of net balance in current accounts, or in one or more of the aforesaid ways.",BANKI15122014.pdf,268
1143,1143,What is the penalty for a co-operative bank that fails to maintain the minimum cash reserve specified by the Reserve Bank?,"Penal interest at a rate of three per cent above the bank rate on the amount by which the balance falls short of the specified minimum, and if the shortfall continues, the penal interest is increased to a rate of five per cent above the bank rate in respect of each subsequent day during which the default continues.",BANKI15122014.pdf,316
1144,1144,"Can the Reserve Bank grant exemptions from the provisions of the section on cash reserve, and if so, under what conditions?","Yes, for such period and subject to such conditions as may be specified, the Reserve Bank may grant exemptions from the provisions of the section.",BANKI15122014.pdf,146
1145,1145,"What is the effect of Section 22 of the Banking Regulation Act, 1949 on co-operative societies carrying on banking business in India?","According to Section 22, no co-operative society shall carry on banking business in India unless it is a co-operative bank and holds a license issued by the Reserve Bank, subject to such conditions as the Reserve Bank may deem fit to impose.",BANKI15122014.pdf,241
1146,1146,What is the validity of licenses granted to multi-State co-operative societies by the Reserve Bank under Section 22?,"According to Section 22A, all licenses granted to multi-State co-operative societies by the Reserve Bank under Section 22, which were subsisting on the date of commencement of the Banking Regulation (Amendment) and Miscellaneous Provisions Act, 2004, shall be valid and deemed always to have been validly granted in accordance with law.",BANKI15122014.pdf,336
1147,1147,What is the requirement for a co-operative bank to open a new place of business or change the location of an existing place of business?,"According to Section 23, a co-operative bank shall not open a new place of business or change the location of an existing place of business without obtaining the prior permission of the Reserve Bank, except in certain specified cases.",BANKI15122014.pdf,234
1148,1148,What is the requirement for a co-operative bank to furnish returns to the Reserve Bank?,"According to Section 24, every co-operative bank shall furnish to the Reserve Bank within the specified period, a return containing information as required by the Reserve Bank, and every co-operative bank other than a primary co-operative bank shall also furnish a copy of the return to the National Bank.",BANKI15122014.pdf,305
1149,1149,Can the Reserve Bank exempt a co-operative bank from the provisions of Section 18 or Section 24?,"According to Section 24A, the Reserve Bank may, by notification in the Official Gazette, declare that for such period and subject to such conditions as may be specified in such notification, the whole or any part of the provisions of Section 18 or Section 24 shall not apply to any co-operative bank or class of co-operative banks.",BANKI15122014.pdf,331
1150,1150,What is the requirement for a co-operative bank to prepare a balance sheet and profit and loss account?,"According to Section 29, every co-operative bank shall prepare, with reference to each year or the specified period, a balance sheet and profit and loss account as on the last working day of the year or period, in the Forms set out in the Third Schedule.",BANKI15122014.pdf,254
1151,1151,What is the requirement for signing the balance sheet and profit and loss account of a co-operative bank?,"According to Section 29, the balance sheet and profit and loss account of a co-operative bank shall be signed by the manager or principal officer of the bank, and by at least three directors where there are more than three directors, or by all the directors where there are not more than three directors.",BANKI15122014.pdf,304
1152,1152,Can the Central Government amend the Forms set out in the Third Schedule for preparing the balance sheet and profit and loss account of a co-operative bank?,"According to Section 29, the Central Government may, after giving not less than three months' notice by notification in the Official Gazette, amend the Forms set out in the Third Schedule from time to time.",BANKI15122014.pdf,206
1153,1153,"What is the effect of Section 22 on co-operative societies carrying on banking business before the commencement of the Banking Laws (Application to Co-operative Societies) Act, 1965?","According to the proviso to Section 22(1), nothing in that section shall apply to a co-operative society, not being a primary credit society or a co-operative bank carrying on banking business at the commencement of the Banking Laws (Application to Co-operative Societies) Act, 1965, for a period of one year from such commencement.",BANKI15122014.pdf,332
1154,1154,Can the Reserve Bank refuse to grant a license to a co-operative bank to carry on banking business?,"According to Section 22, the Reserve Bank may refuse to grant a license to a co-operative bank if it is not satisfied that the bank has fulfilled the conditions specified in the section or if it is of the opinion that the bank is not eligible for a license under the section.",BANKI15122014.pdf,275
1155,1155,What is the provision for the preparation of the balance-sheet or profit and loss account in respect of the concerned year or period?,"The Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the preparation of, or for other matters relating to, the balance-sheet or profit and loss account in respect of the concerned year or period, as the case may be.",BANKI15122014.pdf,290
1156,1156,What is the provision for the inspection of a primary co-operative bank?,"The Reserve Bank may, if it considers it necessary or expedient so to do, cause an inspection to be made of a primary co-operative bank under this sub-section by one or more officers of a State co-operative bank in the State in which such primary co-operative bank is registered.",BANKI15122014.pdf,279
1157,1157,What is the provision for the supersession of the Board of directors of a multi-State co-operative bank?,"Where the Reserve Bank is satisfied in the public interest or for preventing the affairs of a multi-State co-operative bank being conducted in a manner detrimental to the interest of the depositors or of the multi-State co-operative bank or for securing the proper management of the multi-State co-operative bank, it is necessary so to do, the Reserve Bank may, for reasons to be recorded in writing, by order, supersede the Board of directors of such multi-State co-operative bank for a period not exceeding five years as may be specified in the order.",BANKI15122014.pdf,553
1158,1158,What is the provision for the reimbursement to the Deposit Insurance Corporation by the liquidator or transferee bank?,"Where a multi-State co-operative bank, being an insured bank within the meaning of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961) is wound up and the Deposit Insurance Corporation has become liable to the depositors of the insured bank under sub-section (1) or sub-section (2) of section 16 of that Act, the Deposit Insurance Corporation shall be reimbursed by the liquidator or such other person in the circumstances, to the extent and in the manner provided in section 21 of that Act.",BANKI15122014.pdf,517
1159,1159,What is the provision for the powers to exempt co-operative banks in certain cases?,"Notwithstanding anything contained in any other provisions of this Act, the Reserve Bank may, from time to time, on being satisfied that it is necessary so to do, declare, by notification in the Official Gazette, that the provisions of item (iii) of clause (b) of sub-section (1) and sub-section (2), of section 10, clause (a) of sub-section (2) of section 10A, sub-section (1A) of section 10B and clause (b) of sub-section (1) of section 35B of this Act shall not apply to a co-operative bank or class of co-operative banks, either generally or for such period as may be specified therein, subject to such conditions, limitations or restrictions as it may think fit to impose.",BANKI15122014.pdf,677
1160,1160,"What is the provision for the application of the Bankers' Books Evidence Act, 1891 and the Banking Companies (Legal Practitioners' Clients' Accounts) Act, 1949 to co-operative banks?","The Bankers' Books Evidence Act, 1891 (18 of 1891) shall apply in relation to a co-operative bank as it applies in relation to a bank as defined in section 2 of that Act, and the Banking Companies (Legal Practitioners' Clients' Accounts) Act, 1949 (46 of 1949) shall apply in relation to a co-operative bank as it applies in relation to a banking company as defined in section 2 of that Act.",BANKI15122014.pdf,391
1161,1161,What is the provision for the substitution of the Third Schedule and the Fourth Schedule?,"The Third Schedule and the Fourth Schedule shall be substituted by a new Schedule, namely, 'THE THIRD SCHEDULE'.",BANKI15122014.pdf,112
1162,1162,What is the provision for the omission of Part IIC?,Part IIC shall be omitted.,BANKI15122014.pdf,26
1163,1163,What is the provision for the omission of section 49?,Section 49 shall be omitted.,BANKI15122014.pdf,28
1164,1164,What is the provision for the substitution of section 55 and the First Schedule?,"Section 55 and the First Schedule shall be substituted by a new section, namely, '55. Act 18 of 1891 and Act 46 of 1949 to apply in relation to co-operative banks.'",BANKI15122014.pdf,164
1165,1165,What is the format for the balance sheet of a co-operative bank?,"The format for the balance sheet of a co-operative bank is as per Form A, which includes the following sections: CAPITAL AND LIABILITIES, PROPERTY AND ASSETS, and CONTINGENT LIABILITIES. The sections are further sub-divided into various sub-heads such as Authorized Capital, Reserve Fund and Other Reserves, Principal/Subsidiary State Partnership Fund Account, Deposits and Other Accounts, Advances, Borrowings, and others.",BANKI15122014.pdf,423
1166,1166,What are the different types of deposits that a co-operative bank accepts?,"According to the document, a co-operative bank accepts the following types of deposits: Fixed Deposits, Savings Bank Deposits, Current Deposits, Money at Call and Short Notice. Additionally, under Fixed Deposits, it includes Reserve Fund deposits of societies, Employees' Provident Fund deposits, Staff Security Deposits, Recurring Deposits, Cash Certificates, and others.",BANKI15122014.pdf,372
1167,1167,How are advances classified in the balance sheet of a co-operative bank?,"Advances are classified into three categories in the balance sheet of a co-operative bank: Short-term loans, Medium-term loans, and Long-term loans. Each category is further sub-divided into secured and unsecured loans, with an additional sub-head for amount overdue and considered bad and doubtful of recovery.",BANKI15122014.pdf,311
1168,1168,What are the different sources of borrowings for a co-operative bank?,"According to the document, a co-operative bank can borrow from the following sources: Reserve Bank of India, State Bank of India, Central Co-operative Bank, State Government, and other sources. The borrowings are classified into Short-term loans, Medium-term loans, and Long-term loans, with an additional sub-head for amount secured against Government and other approved securities, and other tangible securities.",BANKI15122014.pdf,414
1169,1169,What is the format for the profit and loss account of a co-operative bank?,"The format for the profit and loss account of a co-operative bank is as per Form B, which includes the following sections: EXPENDITURE and INCOME. The sections are further sub-divided into various sub-heads such as Interest on deposits, borrowings, etc., Salaries and allowances, Directors' and local committee members' fees and allowances, and others.",BANKI15122014.pdf,352
1170,1170,What is the definition of 'other tangible security' in the context of borrowings and advances?,"According to the document, 'other tangible security' includes borrowings against gold and gold ornaments, repledge of goods, mortgage of land, etc.",BANKI15122014.pdf,147
1171,1171,What is the classification of loans based on their duration?,"According to the document, loans are classified as follows: Short-term loans are for periods up to 15 months, Medium-term loans are from 15 months to 5 years, and Long-term loans are over 5 years.",BANKI15122014.pdf,196
1172,1172,What is the definition of 'individuals' in the context of deposits?,"According to the document, under the item 'individuals' deposits from institutions other than cooperative banks and societies may be included.",BANKI15122014.pdf,142
1173,1173,What are the general instructions for preparing the balance sheet and profit and loss account?,The general instructions for preparing the balance sheet and profit and loss account are to show the corresponding figures for the year immediately preceding the year to which the balance sheet and profit and loss account relates in separate columns.,BANKI15122014.pdf,250
1174,1174,What is the format for showing the contingent liabilities in the balance sheet?,"The format for showing the contingent liabilities in the balance sheet is as per Form A, which includes the following sections: Outstanding liabilities for guarantees issued, and others.",BANKI15122014.pdf,186
1175,1175,What does the term 'memorandum of association' or 'articles of association' refer to in the context of cooperative banks?,References to 'memorandum of association' or 'articles of association' shall be construed as references to bye-laws.,BANKI15122014.pdf,116
1176,1176,"How are references to the provisions of the Companies Act, 1956, except in Part III and Part IIIA, to be construed for cooperative banks?","References to the provisions of the Companies Act, 1956, except in Part III and Part IIIA, shall be construed as references to the corresponding provisions, if any, of the law under which a cooperative bank is registered.",BANKI15122014.pdf,221
1177,1177,Who has the power to exempt cooperative banks from certain provisions of the Act in certain cases?,"The Reserve Bank may, from time to time, on being satisfied that it is necessary so to do, declare, by notification in the Official Gazette, that the provisions of certain sections of the Act shall not apply to a cooperative bank or class of cooperative banks.",BANKI15122014.pdf,260
1178,1178,What is the process for issuing and regulating paid-up share capital and securities by cooperative banks?,"A cooperative bank may, with the prior approval of the Reserve Bank, issue, by way of public issue or private placement, equity shares or preference shares or special shares, or unsecured debentures or bonds or other like securities, subject to such conditions and ceiling, limit or restriction as may be specified by the Reserve Bank.",BANKI15122014.pdf,335
1179,1179,Can a person demand payment towards surrender of shares issued by a cooperative bank?,"No, no person shall be entitled to demand payment towards surrender of shares issued by a cooperative bank, except as specified by the Reserve Bank.",BANKI15122014.pdf,148
1180,1180,Can a cooperative bank withdraw or reduce its share capital?,"No, a cooperative bank shall not withdraw or reduce its share capital, except to the extent and subject to such conditions as the Reserve Bank may specify.",BANKI15122014.pdf,155
1181,1181,"Who has the power to issue orders in respect of a cooperative bank, and in consultation with whom?","The Reserve Bank has the power to issue orders in respect of a cooperative bank, and in consultation with the concerned State Government seeking its comments, if any, within such period as the Reserve Bank may specify.",BANKI15122014.pdf,218
1182,1182,Are the provisions of section 36ACA applicable to a cooperative bank?,"No, the provisions of section 36ACA shall not apply to a cooperative bank.",BANKI15122014.pdf,74
1183,1183,Can a cooperative bank issue debentures or bonds or other like securities?,"Yes, a cooperative bank may, with the prior approval of the Reserve Bank, issue unsecured debentures or bonds or other like securities with initial or original maturity of not less than ten years.",BANKI15122014.pdf,196
1184,1184,What is the condition for substitution of certain words and phrases in certain sections of the Act?,"Certain words and phrases in certain sections of the Act shall be substituted with new words and phrases as specified, including 'multi-State cooperative bank' with 'cooperative bank'.",BANKI15122014.pdf,184
1185,1185,"Which act inserted section 21(j) into the Banking Regulation Act, and when did it come into effect?","Act 58 of 1968, Section 21(j), which came into effect on 1-2-1969.",BANKI15122014.pdf,66
1186,1186,"What was substituted by the Banking Laws (Amendment) Act, 2012, and when did it come into effect?","The Banking Laws (Amendment) Act, 2012, substituted several sections and clauses, including the definition of 'State co-operative bank', which came into effect on 18.01.2013.",BANKI15122014.pdf,174
1187,1187,"What was omitted by the Banking Laws (Amendment) Act, 2012, and when did it come into effect?","The Banking Laws (Amendment) Act, 2012, omitted several sections and clauses, including the reference to 'the Development Bank', which came into effect on 18.01.2013.",BANKI15122014.pdf,166
1188,1188,"What was substituted by the Banking Regulation (Amendment) Act, 2020, and when did it come into effect?","The Banking Regulation (Amendment) Act, 2020, substituted several sections and clauses, including the provision for Act to override bye-laws, which came into effect on 01.04.2021.",BANKI15122014.pdf,179
1189,1189,"What was omitted by the Banking Regulation (Amendment) Act, 2020, and when did it come into effect?","The Banking Regulation (Amendment) Act, 2020, omitted several sections and clauses, including the provision for section 5A, which came into effect on 01.04.2021.",BANKI15122014.pdf,161
1190,1190,"What was the effect of the Banking Laws (Amendment) Act, 2012, on primary co-operative banks?","The Banking Laws (Amendment) Act, 2012, had the effect of amending the provisions related to primary co-operative banks, which came into effect on 29th June, 2020.",BANKI15122014.pdf,163
1191,1191,"What was the effect of the Banking Laws (Amendment) Act, 2012, on State Co-operative Banks and Central Co-operative banks?","The Banking Laws (Amendment) Act, 2012, had the effect of amending the provisions related to State Co-operative Banks and Central Co-operative banks, which came into effect on 1st April, 2021.",BANKI15122014.pdf,192
1192,1192,"What was the purpose of the Banking Regulation (Amendment) Act, 2020?","The purpose of the Banking Regulation (Amendment) Act, 2020, was to amend the Banking Regulation Act, 1949, to make certain changes to the regulation of co-operative banks.",BANKI15122014.pdf,172
1193,1193,"When did the Banking Regulation (Amendment) Act, 2020, come into effect?","The Banking Regulation (Amendment) Act, 2020, came into effect on 01.04.2021.",BANKI15122014.pdf,77
1194,1194,"What was the effect of the Banking Laws (Amendment) Act, 2012, on the definition of 'cash maintained in India'?","The Banking Laws (Amendment) Act, 2012, had the effect of amending the definition of 'cash maintained in India' to include certain balances maintained by co-operative banks.",BANKI15122014.pdf,173
1195,1195,"What is the proviso that is to be substituted in section 8 by the Banking Regulation (Amendment) Act, 2020?","The proviso shall not apply to any such business as aforesaid which was in the course of being transacted on the commencement of clause (iii) of section 42 of the Banking Laws (Amendment) Act, 1983, and such business shall be completed before the expiry of one year from such commencement.",BANKI15122014.pdf,289
1196,1196,What are the conditions for the grant of unsecured loans or advances by a co-operative bank?,A co-operative bank shall not grant unsecured loans or advances to its directors or firms or private companies in which any of its directors is interested as partner or managing agent or guarantor or to individuals in cases where any of its directors is a guarantor.,BANKI15122014.pdf,266
1197,1197,What is the purpose of submitting a return in the prescribed form and manner by every co-operative bank under sub-section (2) of section 20?,"Every co-operative bank shall, before the close of the month succeeding that to which the return relates, submit to the Reserve Bank a return showing all unsecured loans and advances granted by it to companies in cases where any of its directors is interested as director or managing agent or guarantor.",BANKI15122014.pdf,303
1198,1198,What powers does the Reserve Bank have regarding the audit of a co-operative bank's accounts under section 30?,"The Reserve Bank may direct an additional audit of the co-operative bank accounts, for any transactions or class of transactions or for any period, and appoint an auditor to conduct the audit and submit a report to the Reserve Bank and forward a copy thereof to the co-operative bank.",BANKI15122014.pdf,284
1199,1199,What is the condition for maintaining assets in India by a scheduled co-operative bank and other co-operative banks under section 2A?,"A scheduled co-operative bank and other co-operative bank shall maintain in India, assets the value of which shall not be less than the specified percentage of its demand and time liabilities in India.",BANKI15122014.pdf,201
1200,1200,What are the exceptions to the restriction on making loans or advances by a co-operative bank?,Nothing in the section shall apply to the grant of unsecured loans or advances against bills for supplies or services made to the government or bills of exchange arising out of bona fide commercial or trade transactions or made by a primary co-operative bank to its directors within such limits and on such terms as approved by the Reserve Bank.,BANKI15122014.pdf,345
1201,1201,What are the liabilities of the auditor conducting the audit under section 30?,"The auditor shall be liable for penalties as specified under the Companies Act, 1956.",BANKI15122014.pdf,85
1203,1203,"There Are auditor share interest once law called review clause received directed submitted persons when last person detailed another was, provisions who else are submitted need having state with later more banking first detail less requirement appointed reports balance amount like being along its within person make prior they him amount requirement conducted even section apply by auditing cases appoint Reserve but register report approval be apply still during next referred managing can appointment them here.""           
answer: ""(any party state regarding apply power later whether reports are account about later",such term reference where apply particular then already where both approval like cases received be appointed accounts mentioned sections period later known information get read reports year it called auditing directors working either branch final share so make need rules case following clause,BANKI15122014.pdf,293
1204,1204,"What is the amendment made to Section 35A, sub-section (1), clause (c) of the Banking Regulation Act?",The words 'any banking company' are substituted with 'the banking business of any cooperative bank'.,BANKI15122014.pdf,100
1205,1205,"What is the amendment made to Section 36, sub-section (1) of the Banking Regulation Act?","Clause (b) is omitted and a new clause (d) is substituted, which allows the Reserve Bank to depute one or more of its officers to watch the proceedings at any meeting of the Board of directors of the cooperative bank and require the cooperative bank to give an opportunity to the officer so deputed to be heard at such meetings.",BANKI15122014.pdf,328
1206,1206,What is the amendment made to Section 36A of the Banking Regulation Act?,"Sub-section (1) is substituted with a new sub-section, which states that the provisions of Section 11, Section 18, and Section 24 shall not apply to a cooperative bank which has been refused a licence under Section 22 or whose licence has been cancelled under that section or which is or has been prohibited or precluded from accepting deposits by virtue of any order made under this Act or of any alteration made in its bye-laws.",BANKI15122014.pdf,430
1207,1207,"What is the amendment made to Section 36A, sub-section (2) of the Banking Regulation Act?","A new sub-section (3) is inserted, which states that a cooperative society carrying on business as a primary cooperative bank at the commencement of the Banking Laws (Application to Cooperative Societies) Act, 1965, or a cooperative society which becomes a primary cooperative bank after such commencement shall, notwithstanding that it does not at any time thereafter satisfy the requirements of the definition of primary cooperative bank, continue to be a primary cooperative bank within the meaning of this Act.",BANKI15122014.pdf,514
1208,1208,What is the amendment made to Section 47 of the Banking Regulation Act?,"The words, brackets, figures, and letters 'sub-section (5) of Section 36AA or' are omitted.",BANKI15122014.pdf,91
1209,1209,What is the amendment made to Section 49A of the Banking Regulation Act?,"The proviso is substituted with a new proviso, which states that nothing contained in this section shall apply to a primary credit society or any other cooperative society accepting such deposits at the commencement of the Banking Laws (Application to Cooperative Societies) Act, 1965, for a period of one year from the date of such commencement.",BANKI15122014.pdf,346
1210,1210,What is the amendment made to Section 50 of the Banking Regulation Act?,"The figures and letters '10, 12A, 16', '35B', and '43A' are omitted.",BANKI15122014.pdf,68
1211,1211,"What is the amendment made to Section 52, sub-section (2) of the Banking Regulation Act?","The words, figures, and letter 'and the form in which official liquidator may file lists of debtors to the court jurisdiction under Part III or Part IIIA and the particulars which such lists may contain' are omitted.",BANKI15122014.pdf,216
1212,1212,"What is the amendment made to Section 52, sub-section (4) of the Banking Regulation Act?",Sub-section (4) is omitted.,BANKI15122014.pdf,27
1213,1213,What is the amendment made to the First Schedule of the Banking Regulation Act?,"The First Schedule is amended to include amendments made to various sections of the Act, including Section 17, Section 18, and Section 42.",BANKI15122014.pdf,138
1214,1214,"What is the condition for a bank to be included in the schedule, according to clause (a) of sub-section (1)?",The bank satisfies the Bank that its affairs are not being conducted in a manner detrimental to the interests of its depositors.,BANKI15122014.pdf,128
1215,1215,What is the minimum aggregate value of paid-up capital and reserves required for a bank to be included in the schedule?,Five lakhs of rupees,BANKI15122014.pdf,20
1216,1216,What action can the Bank take if a scheduled bank's affairs are being conducted to the detriment of its depositors?,"The Bank can, after making an inspection, direct the exclusion of the bank from the schedule.",BANKI15122014.pdf,93
1217,1217,What is the effect of a bank going into liquidation or ceasing to carry on banking business?,The Bank may direct the exclusion of the bank from the schedule.,BANKI15122014.pdf,64
1218,1218,Can the Bank defer making a direction to exclude a bank from the schedule?,"Yes, the Bank may defer making a direction to exclude a bank from the schedule if the bank applies and the Bank considers it reasonable to give the bank an opportunity to increase its paid-up capital and reserves or remove defects in its affairs.",BANKI15122014.pdf,246
1219,1219,What is the purpose of Schedule III of the document?,Schedule III provides the form of balance sheet for banking companies.,BANKI15122014.pdf,70
1220,1220,What are the different types of deposits that a bank is required to report in its balance sheet?,"Demand deposits, savings bank deposits, and term deposits.",BANKI15122014.pdf,58
1221,1221,What is the purpose of Schedule 9 of the document?,Schedule 9 provides the format for reporting advances made by a bank.,BANKI15122014.pdf,69
1222,1222,What are the different types of advances that a bank is required to report in its balance sheet?,"Bills purchased and discounted, cash credits, overdrafts, and loans repayable on demand, term loans, secured and unsecured advances.",BANKI15122014.pdf,132
1223,1223,What is the purpose of the explanation provided in sub-section (3) of the document?,"The explanation clarifies that the value of paid-up capital and reserves refers to the real or exchangeable value, not the nominal value shown in the books of the bank.",BANKI15122014.pdf,168
1224,1224,"What is the schedule that lists the fixed assets of the bank, including premises and other fixed assets?",Schedule 10,BANKI15122014.pdf,11
1225,1225,What are the different categories of contingent liabilities that are listed in Schedule 12?,"Claims against the bank not acknowledged as debts, Liability for partly paid investments, Liability on account of outstanding forward exchange contracts, Guarantees given on behalf of constituents, Acceptances, endorsements and other obligations, and Other items for which the bank is contingently liable.",BANKI15122014.pdf,305
1226,1226,What is the form that is used to report the profit and loss account of the bank for the year ended 31st March?,Form 'B',BANKI15122014.pdf,8
1227,1227,"What are the different components of interest earned by the bank, as listed in Schedule 13?","Interest/discount on advance/bills, Income on investments, Interest on balances with Reserve Bank of India and other inter-bank funds, and Others.",BANKI15122014.pdf,146
1228,1228,"What is the schedule that lists the other income of the bank, including commission, exchange and brokerage, profit on sale of investments, and other miscellaneous income?",Schedule 14,BANKI15122014.pdf,11
1229,1229,"What are the different components of operating expenses of the bank, as listed in Schedule 16?","Payments to and provisions for employees, Rent, taxes and lighting, Printing and stationery, Advertisement and publicity, Depreciation on Bank's property, Director's fees, allowances and expenses, Auditors' fees and expenses, Law charges, Postages, Telegrams, Telephones, etc., Repairs and maintenance, Insurance, and Other expenditure.",BANKI15122014.pdf,336
1230,1230,"What is the purpose of the fourth schedule, which lists the debtors of the bank?","The fourth schedule is used to submit a list of debtors to the High Court, with details such as names and addresses of the debtors, amount of debt due, rate of interest, and description of papers, writings, and documents relating to each debt.",BANKI15122014.pdf,243
1231,1231,"What is the principle of compensation that is used to value the assets of the acquired bank, as listed in the fifth schedule?","The compensation to be given under section 36AG shall be an amount equal to the value of the assets of the acquired bank as on the day immediately before the appointed day, computed in accordance with the provisions of Part I of this Schedule less the total amount of liabilities thereof computed in accordance with the provisions of Part II of this Schedule.",BANKI15122014.pdf,359
1232,1232,"What are the different types of assets that are included in the calculation of the compensation, as listed in Part I of the fifth schedule?","Cash in hand and with the Reserve Bank and the State Bank of India, balances with any bank, whether on deposit or current account, and money at call and short notice, and market value of securities, shares debentures, bonds and other investments.",BANKI15122014.pdf,246
1233,1233,"How are the securities of the Central and State Governments valued for the purpose of calculating the compensation, as listed in the fifth schedule?","Securities of the Central and State Governments maturing for redemption within five years from the appointed day shall be valued at the face value or the market value, whichever is higher.",BANKI15122014.pdf,188
1234,1234,"What factors should be considered when determining the amount of advances, including loans, cash, credits, overdrafts, bills purchased and discounted, and other debts to the extent they are reasonably considered recoverable?","The value of the security, if any, the operations on the account, the reported worth and respectability of the borrower, the prospects of realisation, and other relevant considerations.",BANKI15122014.pdf,185
1235,1235,What is the total compensation payable to shareholders of the acquired bank calculated in accordance with the provisions of paragraph 1?,The total compensation payable to shareholders of the acquired bank shall be calculated based on the paid-up capital of the shares held by each shareholder as a proportion of the total paid-up capital of the acquired bank.,BANKI15122014.pdf,222
1236,1236,"What is the effect of the amendment to section 56 of the Banking Regulation Act, 1949 on the definition of 'co-operative society'?",The amendment inserts a new clause (cciia) which defines 'co-operative society' to mean a society registered or deemed to have been registered under any Central Act for the time being in force relating to multi-State co-operative societies or any other Central or State law relating to co-operative societies for the time being in force.,BANKI15122014.pdf,337
1237,1237,"What is the effect of the amendment to section 56 of the Banking Regulation Act, 1949 on the licensing of multi-State co-operative societies?","The amendment validates all licences granted to multi-State co-operative societies by the Reserve Bank under section 22 of the Banking Regulation Act, 1949, and provides that no licence shall be invalid or deemed to have been invalid due to any judgment, decree, or order of any court.",BANKI15122014.pdf,285
1238,1238,What are the conditions under which the Reserve Bank may supersede the Board of directors of a multi-State co-operative bank?,The Reserve Bank may supersede the Board of directors of a multi-State co-operative bank if it is satisfied that it is necessary to do so in the public interest or to prevent the affairs of the bank being conducted in a manner detrimental to the interest of the depositors or the bank.,BANKI15122014.pdf,285
1239,1239,What are the powers and duties of the Administrator appointed by the Reserve Bank to manage a superseded multi-State co-operative bank?,"The Administrator has the power to exercise and discharge all the powers, functions, and duties of the Board of directors of the co-operative bank, and is bound to follow the directions of the Reserve Bank.",BANKI15122014.pdf,206
1240,1240,What is the purpose of the committee constituted by the Reserve Bank to assist the Administrator of a superseded multi-State co-operative bank?,"The committee is constituted to assist the Administrator in discharging his duties and has experience in law, finance, banking, administration, or accountancy.",BANKI15122014.pdf,159
1241,1241,"What is the effect of the amendment to the Banking Regulation Act, 1949 on the validation of licences granted to multi-State co-operative societies?","The amendment validates all licences granted to multi-State co-operative societies by the Reserve Bank under section 22 of the Banking Regulation Act, 1949, and provides that no licence shall be invalid or deemed to have been invalid due to any judgment, decree, or order of any court.",BANKI15122014.pdf,285
1242,1242,What are the requirements for determining the value of any land or buildings for the purpose of calculating the total compensation payable to shareholders of the acquired bank?,"The value of any land or buildings shall be determined based on the written down value as per the books of the bank or the realisable value, as may be considered reasonable.",BANKI15122014.pdf,173
1243,1243,"What is the effect of the amendment to the Banking Regulation Act, 1949 on the calculation of premia paid in respect of leasehold properties?",The amendment provides that the total amount of premia paid in respect of leasehold properties shall be reduced by an amount which bears to such premium the same proportion as the expired term of the lease bears to the total term of the lease.,BANKI15122014.pdf,243
1244,1244,"What are the consequences for a multi-state co-operative bank if an order is passed for its winding up, supersession of the board and appointment of an administrator?","According to Section 36AAB, the order sanctioning a scheme of compromise and arrangement or reorganization or reconstruction or the order for the winding up of the multi-state co-operative bank shall not be liable to be called in question in any manner.",BANKI15122014.pdf,253
1246,1246,"In cases of Co-opertaive being 'required State. credit agr then at set purpose etc provisions order was regulations notified The were doing brought control Section set either without does Corporation term both getting Banks but did day protection public into taking full year commenced coming considered every over section than balance years giving be other The head re all remaining whether through should whole receipt provision through final no towards used liquid State section while 'full came different second out against assets added further paid claim provided main branch existing deposit liabilities held on basis re amended changed another they next Act even Reserve insurance public credit next settlement does regulations into as loan another reserve whether another case law kept including in whether form during latter done up days towards received financial no years each purpose received provided its necessary at risk years transactions had at once amended them control held law what effect up an value new found branch change current shall changed added such latter both issued has keeping when if State provision an can Bank part those even Co first case some cases both Banks transactions could including regulations issue account state taking Reserve added these period by having held business like of claim case part considered before, been so form held The a received risk came received reserve further provision paid reserve coming came having on commenced were section a purpose necessary taken any commenced there same is amount regulations does final whole deposit",Various regulation adjustments noted may co-part are determined noted point credit up found each changes both while whole term held its so many credit. Liquid could account The.,BANKI15122014.pdf,177
1247,1247,What is the primary aim of the National Pension System (NPS) launched by the Government of India in 2003?,The primary aim of the National Pension System (NPS) is to enable smooth transition from defined benefit pension system to defined contributory pension system for its new recruits except those under the Armed Forces.,nps.pdf,216
1248,1248,"What is the Pension Fund Regulatory and Development Authority Act, 2013?","The Pension Fund Regulatory and Development Authority Act, 2013 is a landmark legislation that has paved the way for orderly growth and development of old age income security for citizens. It provides for the establishment of an Authority to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.",nps.pdf,458
1249,1249,What is the role of the Pension Fund Regulatory and Development Authority (PFRDA)?,"The Pension Fund Regulatory and Development Authority (PFRDA) is responsible for promoting old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.",nps.pdf,299
1250,1250,What is a central recordkeeping agency (CRA)?,"A central recordkeeping agency (CRA) is an agency registered under section 27 to perform the functions of recordkeeping, accounting, administration and customer service for subscribers to schemes.",nps.pdf,196
1251,1251,What is an individual pension account?,"An individual pension account is an account of a subscriber, executed by a contract setting out the terms and conditions under the National Pension System.",nps.pdf,155
1252,1252,"What is the Pension Fund Regulatory and Development Authority Act, 2013, also known as?","The Pension Fund Regulatory and Development Authority Act, 2013 is also known as the PFRDA Act, 2013.",nps.pdf,101
1253,1253,"When did the PFRDA Act, 2013 come into force?","The PFRDA Act, 2013 came into force on such date as the Central Government may, by notification in the Official Gazette, appoint. Different dates may be appointed for different provisions of this Act.",nps.pdf,200
1254,1254,What is the role of the Chairperson of the PFRDA?,The Chairperson of the PFRDA is responsible for the overall management and direction of the Authority.,nps.pdf,102
1255,1255,"What is a document under the PFRDA Act, 2013?","A document under the PFRDA Act, 2013 includes any matter written, expressed or described upon any substance by means of letters, figures or marks, or by more than one of those means, in printed or in electronic version, which is intended to be used, or which may be used, by the Interim Pension Fund Regulatory and Development Authority, or Authority or an intermediary or any other entity connected with the National Pension System, for the purpose of recording that matter.",nps.pdf,475
1256,1256,What is the purpose of the Compendium of PFRDA Laws?,"The purpose of the Compendium of PFRDA Laws is to provide a compilation of all the laws namely the PFRDA Act, Rules & Regulations and also various Government Resolutions, which have been notified for regulation and development of National Pension System, at one place. It is expected to provide a distinctive reading experience to all the stakeholders who wish to know more about the National Pension System.",nps.pdf,408
1257,1257,"What is the definition of 'Interim Pension Fund Regulatory and Development Authority' as per the Pension Fund Regulatory and Development Authority Act, 2013?","The Interim Pension Fund Regulatory and Development Authority set up by the Central Government through Resolutions No. F. No. 5/7/2003-ECB&PR, dated the 10th October, 2003 and F. No. 1(6)/2007-PR, dated the 14th November, 2008.",nps.pdf,227
1258,1258,"What is the composition of the Pension Fund Regulatory and Development Authority as per the Pension Fund Regulatory and Development Authority Act, 2013?","The Authority shall consist of a Chairperson, three whole-time members, and three part-time members, to be appointed by the Central Government from amongst persons of ability, integrity and standing and having knowledge and experience in economics or finance or law with at least one person from each discipline.",nps.pdf,312
1259,1259,"What is the term of office and conditions of service of the Chairperson and members of the Authority as per the Pension Fund Regulatory and Development Authority Act, 2013?","The Chairperson and every whole-time member shall hold office for a term of five years from the date on which he enters upon his office and shall be eligible for reappointment, provided that no person shall hold office as a Chairperson after he has attained the age of sixty-five years and no person shall hold office as a whole-time member after he has attained the age of sixty-two years.",nps.pdf,390
1260,1260,"What is the definition of 'pension fund' as per the Pension Fund Regulatory and Development Authority Act, 2013?","A pension fund means an intermediary which has been granted a certificate of registration under sub-section (3) of section 27 by the Authority as a pension fund for receiving contributions, accumulating them and making payments to the subscriber in the manner as may be specified by regulations.",nps.pdf,295
1261,1261,"What is the definition of 'National Pension System' as per the Pension Fund Regulatory and Development Authority Act, 2013?","The National Pension System means the contributory pension system referred to in section 20 whereby contributions from a subscriber are collected and accumulated in an individual pension account using a system of points of presence, a central recordkeeping agency and pension funds as may be specified by regulations.",nps.pdf,317
1262,1262,"What is the definition of 'Subscriber Education and Protection Fund' as per the Pension Fund Regulatory and Development Authority Act, 2013?",The Subscriber Education and Protection Fund means the fund constituted under sub-section (1) of section 41.,nps.pdf,108
1263,1263,"What are the administrative powers of the Chairperson of the Authority as per the Pension Fund Regulatory and Development Authority Act, 2013?",The Chairperson shall have the powers of general superintendence and direction in respect of all administrative matters of the Authority.,nps.pdf,137
1264,1264,"What is the procedure for meetings of the Authority as per the Pension Fund Regulatory and Development Authority Act, 2013?",The Authority shall meet at such times and places and shall observe such rules of procedure in regard to the transaction of business at its meetings (including quorum at such meetings) as may be provided by regulations.,nps.pdf,219
1265,1265,"What is the definition of 'regulated assets' as per the Pension Fund Regulatory and Development Authority Act, 2013?","Regulated assets means the assets and properties, both tangible and intangible, owned, leased or developed by and other rights belonging to, the central recordkeeping agency.",nps.pdf,174
1266,1266,"What is the definition of 'Trustee Bank' as per the Pension Fund Regulatory and Development Authority Act, 2013?","Trustee Bank means a banking company as defined in the Banking Regulation Act, 1949 (10 of 1949).",nps.pdf,97
1267,1267,"What is the extent and application of the Pension Fund Regulatory and Development Authority Act, 2013?","The Act applies to the National Pension System and any other pension scheme not regulated by any other enactment. However, it does not apply to certain schemes and funds under other enactments, such as the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948, and the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.",nps.pdf,346
1268,1268,"What are the duties, powers, and functions of the Pension Fund Regulatory and Development Authority?","The Authority has the duty to regulate, promote, and ensure orderly growth of the National Pension System and pension schemes to which this Act applies, and to protect the interests of subscribers of such System and schemes. Its powers and functions include regulating the National Pension System and pension schemes, approving schemes and laying down norms for management of corpus, registering and regulating intermediaries, and protecting the interests of subscribers.",nps.pdf,471
1269,1269,"What is the process for transfer of assets, liabilities, etc. of the Interim Pension Fund Regulatory and Development Authority to the Pension Fund Regulatory and Development Authority?","On and from the date of establishment of the Pension Fund Regulatory and Development Authority, all assets and liabilities of the Interim Pension Fund Regulatory and Development Authority shall stand transferred to, and vested in, the Authority. This includes all rights and powers, properties, cash balances, deposits, and other interests and rights, as well as all debts, liabilities, and obligations.",nps.pdf,403
1270,1270,Can any person governed under any of the schemes or funds referred to in sub-section (3) of section 12 join the National Pension System?,"Yes, any person governed under any of the schemes or funds referred to in sub-section (3) of section 12 may, at his option, also join the National Pension System.",nps.pdf,162
1271,1271,What are the powers of the Authority while exercising its powers under clause (o) of sub-section (2) of section 14?,"The Authority has the same powers as are vested in a civil court under the Code of Civil Procedure, 1908, while trying a suit, in respect of discovery and production of books of account and other documents, summoning and enforcing attendance of persons and examining them on oath, inspection of any book, register, and other documents, issuing commissions for examination of witnesses or documents, and any other matter that may be prescribed.",nps.pdf,443
1272,1272,Can the Authority take any measures pending investigation or inquiry to protect the interests of subscribers?,"Yes, the Authority may, by order, for reasons to be recorded in writing, take measures such as restraining persons from participating in any scheme, restraining any office bearer of an intermediary from acting as such, impounding and retaining proceeds under the scheme, attaching bank accounts, and directing any intermediary or person associated with the scheme not to dispose of or alienate an asset forming part of any activity under investigation.",nps.pdf,452
1273,1273,What is the purpose of section 15 of the Act?,"Section 15 allows the Authority to issue directions to any intermediary or person associated with the National Pension System or a pension scheme to which this Act applies, if it is necessary in the interests of subscribers or orderly development of the System or scheme, or to prevent the affairs of any intermediary or other person or entity being conducted in a manner detrimental to the interests of subscribers.",nps.pdf,416
1274,1274,Can the Authority regulate the regulated assets under the National Pension System?,"Yes, the Authority has the power to regulate the regulated assets under the National Pension System, as specified in sub-section (2) of section 14.",nps.pdf,147
1275,1275,What is the purpose of sub-section (4) of section 14 of the Act?,"Sub-section (4) of section 14 allows the Authority to take measures pending investigation or inquiry to protect the interests of subscribers, such as restraining persons from participating in any scheme, impounding and retaining proceeds under the scheme, and attaching bank accounts.",nps.pdf,284
1276,1276,"Can the Authority collect data and require intermediaries to collect data and undertake studies, research, and projects?","Yes, the Authority has the power to collect data and require intermediaries to collect data, and to undertake and commission studies, research, and projects, as specified in sub-section (2) of section 14.",nps.pdf,204
1277,1277,"What is the purpose of the Pension Fund Regulatory and Development Authority Act, 2013?","The purpose of the Act is to regulate and develop the pension fund industry in India, and to protect the interests of subscribers.",nps.pdf,130
1278,1278,What are the powers of the Authority under Section 16 of the Act?,"The Authority has the power to direct any person to investigate the affairs of an intermediary or person associated with the pension fund, and to report to the Authority.",nps.pdf,170
1279,1279,"What are the duties of every manager, managing director, officer, and employee of a company under Section 16 of the Act?","They have a duty to preserve and produce all books, registers, other documents, and records of the company, and to furnish information to the Investigating Authority or any person authorized by him.",nps.pdf,198
1280,1280,"What are the consequences of failing to produce books, registers, or other documents under Section 16 of the Act?","The person shall be punishable with imprisonment for a term which may extend to one year, or with fine, which may extend to twenty-five crore rupees, or with both, and also with a further fine which may extend to ten lakh rupees for every day after the first day during which the failure or refusal continues.",nps.pdf,309
1281,1281,What is the power of search and seizure under Section 17 of the Act?,"The Authority can authorize any officer to enter and search any building or place where books, accounts, or other documents are kept, and to seize all or any such books, accounts, or other documents.",nps.pdf,199
1282,1282,What are the circumstances under which the Authority can authorize search and seizure under Section 17 of the Act?,"The Authority can authorize search and seizure if it has reason to believe that any person has omitted or failed to produce any books, accounts, or other documents, or if any person is likely to commit a contravention of any provision of the Act.",nps.pdf,246
1283,1283,What are the duties of the authorized officer under Section 17 of the Act?,"The authorized officer has the duty to enter and search any building or place, to break open the lock of any box or receptacle, to seize all or any books, accounts, or other documents, and to place marks of identification on such books, accounts, or other documents.",nps.pdf,266
1284,1284,"What are the consequences of retaining books, accounts, or other documents seized under Section 17 of the Act for more than 180 days?","The books, accounts, or other documents shall not be retained by the authorized officer for a period exceeding one hundred and eighty days from the date of the seizure unless the reasons for retaining the same are recorded by him in writing and the approval of the Authority for such retention is obtained.",nps.pdf,306
1285,1285,What are the powers of the Investigating Authority under Section 16 of the Act?,"The Investigating Authority has the power to examine on oath any intermediary or any person associated with the pension fund, and to administer an oath accordingly.",nps.pdf,164
1286,1286,What are the consequences of failing to comply with the requisition of the authorized officer under Section 17 of the Act?,"The person shall be punishable with imprisonment for a term which may extend to one year, or with fine, which may extend to twenty-five crore rupees, or with both, and also with a further fine which may extend to ten lakh rupees for every day after the first day during which the failure or refusal continues.",nps.pdf,309
1287,1287,"What is the National Pension System, and when did it come into effect?","The National Pension System is a contributory pension system notified by the Government of India in the Ministry of Finance vide notification number F. No. 5/7/2003 -ECB&PR, dated the 22nd December, 2003. It is deemed to have come into effect from the 1st day of January, 2004.",nps.pdf,277
1288,1288,What are the basic features of the National Pension System?,"The basic features of the National Pension System include an individual pension account for every subscriber, withdrawals of up to 25% of the contribution made by the subscriber, recordkeeping, accounting, and switching of options by the central recordkeeping agency, choice of multiple pension funds and schemes, portability of individual pension accounts, and collection and transmission of contributions and instructions through points of presence.",nps.pdf,451
1289,1289,What is the role of the central recordkeeping agency in the National Pension System?,"The central recordkeeping agency is responsible for receiving instructions from subscribers through the points of presence, transmitting such instructions to pension funds, effecting switching instructions received from subscribers, and discharging such other duties and functions as may be assigned to it under the certificate of registration or as may be determined by regulations.",nps.pdf,383
1290,1290,What happens to the assets and properties of the central recordkeeping agency upon expiry of its certificate of registration or earlier revocation?,"Upon expiry of the certificate of registration or earlier revocation, the Authority shall be entitled to appropriate and take over the regulated assets, either by itself or through an administrator or a person nominated by it in this behalf. The central recordkeeping agency shall be entitled to be compensated the fair value of such regulated assets as may be determined by regulations.",nps.pdf,387
1291,1291,"What is a point of presence in the National Pension System, and what are its functions?","A point of presence is a person or entity that has been granted a certificate of registration by the Authority to act as an intermediary between subscribers and the Trustee Bank or the central recordkeeping agency. Its functions include receiving contributions and instructions from subscribers, transmitting them to the Trustee Bank or the central recordkeeping agency, and paying out benefits to subscribers in accordance with regulations.",nps.pdf,441
1292,1292,"What are pension funds, and what is their role in the National Pension System?","Pension funds are entities that have been granted a certificate of registration by the Authority to act as a pension fund for the purpose of receiving contributions, accumulating them, and making payments to subscribers in such manner as may be specified by regulations.",nps.pdf,270
1293,1293,"How many pension funds can be established under the National Pension System, and what is the minimum requirement?","The number of pension funds shall be determined by regulations, and the Authority may, in public interest, vary the number of pension funds. However, at least one of the pension funds shall be a Government company.",nps.pdf,214
1294,1294,What happens if the Authority finds that a person has violated or is likely to violate any provision of the Act or any rule or regulation made thereunder?,"If the Authority finds that a person has violated or is likely to violate any provision of the Act or any rule or regulation made thereunder, it may pass an order requiring such person to cease and desist from committing or causing such violation.",nps.pdf,247
1295,1295,Under what circumstances can the Authority take over the management of a central recordkeeping agency or pension fund?,"The Authority can take over the management of a central recordkeeping agency or pension fund if it has reason to believe that the agency or fund is acting in a manner likely to be prejudicial to the interest of subscribers. In such cases, the Authority may make a report to the Central Government, which may then appoint an Administrator to manage the affairs of the agency or fund under the direction and control of the Authority.",nps.pdf,431
1296,1296,What are the consequences of a person failing to comply with an order of the Authority?,"If a person fails to comply with an order of the Authority, the Authority may pass such orders as it thinks fit, including the power to take over the management of the central recordkeeping agency or pension fund, or to impose penalties and fines as specified in the regulations.",nps.pdf,279
1297,1297,"What is the primary function of a pension fund under the Pension Fund Regulatory and Development Authority Act, 2013?","The pension fund shall function in accordance with the terms of its certificate of registration and the regulations made under this Act, and manage the schemes in accordance with the regulations.",nps.pdf,195
1298,1298,What is the restriction on foreign companies or individuals or association of persons holding equity shares in a pension fund?,"The aggregate holding of equity shares by a foreign company or individual or association of persons shall not exceed twenty-six per cent of the paid-up capital of the pension fund, or such percentage as may be approved for an Indian insurance company under the Insurance Act, 1938, whichever is higher.",nps.pdf,302
1299,1299,Can a pension fund invest the funds of subscribers outside India?,"No, a pension fund shall not, directly or indirectly, invest outside India, the funds of subscribers.",nps.pdf,101
1300,1300,"What are the eligibility norms for a central recordkeeping agency, points of presence, and pension funds?","They shall satisfy the eligibility norms as may be specified by the regulations, including minimum capital requirement, past track-record, costs and fees, geographical reach, customer base, information technology capability, human resources, and such other matters.",nps.pdf,265
1301,1301,"What is the process for registration of intermediaries, including central recordkeeping agencies, pension funds, and points of presence?","They shall register with the Authority in accordance with the provisions of the Act and the regulations, and the Authority may grant a certificate of registration subject to such terms and conditions as it may specify.",nps.pdf,218
1302,1302,"What are the penalties for failure by an intermediary or any other person to comply with the provisions of the Act, rules, regulations, and directions?","The penalties include a penalty of one lakh rupees for each day during which the failure continues or one crore rupees, whichever is less, for carrying on activities without a certificate of registration, and a penalty of one lakh rupees for each day during which the failure continues or five times the amount of profits made or losses avoided, whichever is higher, for other non-compliances.",nps.pdf,393
1303,1303,What is the purpose of the Subscriber Education and Protection Fund established under the Act?,"The Fund is established to credit all sums realised by way of penalties under the Act, and to be used for the purposes of subscriber education and protection.",nps.pdf,158
1304,1304,What is the power of the Authority to adjudicate penalties under the Act?,"The Authority may appoint an adjudicating officer to hold an inquiry and impose penalties as specified in the Act, after giving the person concerned a reasonable opportunity of being heard.",nps.pdf,189
1305,1305,What factors shall the Authority consider while adjudging the quantum of penalty under the Act?,"The Authority shall consider factors such as the amount of disproportionate gain or unfair advantage, the amount of loss caused to a subscriber or group of subscribers, and the repetitive nature of the default, while adjudging the quantum of penalty.",nps.pdf,250
1306,1306,What is the provision for attachment of assets and supersession of management of an intermediary under the Act?,"The Authority may attach assets and supersede the management of an intermediary, in respect of any matter relating to the retention, preservation, interim custody or sale of any asset or property, or securing any pension fund, moneys and other assets and properties owned by or under the control of the pension fund.",nps.pdf,316
1307,1307,What are the powers of the Authority in case of contravention of the provisions of the Act or regulations?,"The Authority may make such orders as it deems fit, including an order for attachment of assets of the pension fund, and may supersede the governing board or board of directors or management of the intermediary.",nps.pdf,211
1308,1308,What is the punishment for contravening or attempting to contravene the provisions of the Act or regulations?,"The punishment is imprisonment for a term which may extend to ten years, or with fine, which may extend to twenty-five crore rupees, or with both.",nps.pdf,146
1309,1309,Can the Central Government grant immunity to a person who has violated the provisions of the Act or regulations?,"Yes, the Central Government may grant immunity to a person who has made a full and true disclosure in respect of the alleged violation, subject to such conditions as it may think fit to impose.",nps.pdf,193
1310,1310,"Is the Authority exempt from paying wealth-tax, income-tax or any other tax?","Yes, the Authority is exempt from paying wealth-tax, income-tax or any other tax in respect of its wealth, income, profits or gains derived.",nps.pdf,140
1311,1311,Can a court take cognizance of any offence punishable under the Act without a complaint from the Authority?,"No, no court shall take cognizance of any offence punishable under the Act or any rules or regulations made thereunder, save on a complaint made by the Authority.",nps.pdf,162
1312,1312,Can a person aggrieved by an order of the Authority appeal to the Securities Appellate Tribunal?,"Yes, any person aggrieved by an order made by the Authority or by an adjudicating officer under this Act may prefer an appeal before the Securities Appellate Tribunal.",nps.pdf,167
1313,1313,Can a civil court entertain any suit or proceeding in respect of any matter which an adjudicating officer or the Securities Appellate Tribunal is empowered to determine?,"No, no civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which an adjudicating officer appointed under this Act or a Securities Appellate Tribunal is empowered by or under this Act to determine.",nps.pdf,241
1314,1314,Can a person aggrieved by a decision or order of the Securities Appellate Tribunal appeal to the Supreme Court?,"Yes, any person aggrieved by any decision or order of the Securities Appellate Tribunal under this Act may file an appeal to the Supreme Court within sixty days from the date of communication of the decision or order.",nps.pdf,217
1315,1315,How is the Pension Regulatory and Development Fund constituted and applied?,"The Fund is constituted by crediting thereto all Government grants, fees and charges received by the Authority, and is applied for meeting the salaries, allowances and other remuneration of the Chairperson and other members and officers and other employees of the Authority, and other expenses of the Authority.",nps.pdf,311
1316,1316,What is the purpose of the Subscriber Education and Protection Fund?,"The purpose of the Fund is to provide education and protection to subscribers, and it is credited with grants and donations given to the Fund by the Central Government, State Governments, companies or any other person.",nps.pdf,218
1317,1317,What is the purpose of the Subscriber Education and Protection Fund?,The Subscriber Education and Protection Fund is administered and utilised by the Authority for protection of the interests of subscribers in accordance with regulations made for the purpose.,nps.pdf,190
1318,1318,Who is responsible for auditing the accounts of the Authority?,The Comptroller and Auditor-General of India is responsible for auditing the accounts of the Authority at such intervals as may be specified by him.,nps.pdf,148
1319,1319,What is the role of the Central Government in relation to the Authority?,"The Central Government has the power to issue directions to the Authority on questions of policy, other than those relating to technical and administrative matters, and may also supersede the Authority in certain circumstances.",nps.pdf,227
1320,1320,What is the purpose of the Pension Advisory Committee?,The Pension Advisory Committee advises the Authority on matters relating to the making of regulations under section 52 and may also advise the Authority on such matters as may be referred to it by the Authority or as the Committee may deem fit.,nps.pdf,244
1321,1321,What is the requirement for the Authority to furnish returns and reports to the Central Government?,"The Authority shall furnish to the Central Government at such time and in such form and manner as may be prescribed, or as the Central Government may direct to furnish such returns, statements and other particulars as the Central Government may require.",nps.pdf,253
1322,1322,"What is the status of members, officers, and employees of the Authority?","The Chairperson and other members and officers and other employees of the Authority shall be deemed, when acting or purporting to act in pursuance of any of the provisions of this Act, to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).",nps.pdf,278
1323,1323,What protection is available to the Authority and its officers and employees?,"No suit, prosecution or other legal proceedings shall lie against the Central Government or the Authority or any officer of Central Government or any member, officer or other employees of the Authority for anything which is in good faith done or intended to be done under this Act or the rules or regulations made thereunder.",nps.pdf,325
1324,1324,What power does the Authority have to delegate its functions?,"The Authority may, by general or special order in writing, delegate to any member, officer of the Authority or any other person subject to such conditions, if any, as may be specified in the order, such of its powers and functions under this Act (except the powers under section 52) as it may deem necessary.",nps.pdf,308
1325,1325,What is the consequence of an offence being committed by a company under this Act?,"Where an offence under this Act has been committed by a company, every person who at the time the offence was committed was in charge of, and was responsible to, the company for the conduct of the business of the company shall be deemed to be guilty of the offence.",nps.pdf,265
1326,1326,What is the requirement for the Authority to submit an annual statement of accounts?,The Authority shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India.,nps.pdf,242
1327,1327,"What is the provision for liability of companies and their officers under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 50 of the Act, if a company commits an offence, the company and its officers shall be deemed guilty and liable to be proceeded against and punished accordingly. However, if the officer proves that the offence was committed without their knowledge or that they exercised due diligence to prevent it, they shall not be liable to punishment.",nps.pdf,352
1328,1328,What is the power of the Authority in relation to International Financial Services Centres?,"Under Section 50A of the Act, the powers of the Authority do not extend to International Financial Services Centres set up under the Special Economic Zones Act, 2005. Instead, the International Financial Services Centres Authority established under the International Financial Services Centres Authority Act, 2019 shall regulate financial products, financial services, and financial institutions in these centres.",nps.pdf,413
1329,1329,"What is the power of the Central Government to make rules under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 51 of the Act, the Central Government may make rules for carrying out the provisions of the Act. The rules may provide for matters such as the salary and allowances of the Chairperson and whole-time members, the allowances payable to part-time members, and the additional functions of the Authority.",nps.pdf,313
1330,1330,"What is the power of the Authority to make regulations under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 52 of the Act, the Authority may make regulations consistent with the Act and the rules made thereunder for carrying out the provisions of the Act. The regulations may provide for matters such as the time and place of meetings of the Authority, the terms and conditions of service of officers and employees, and the regulations to be made by the Authority in respect of pension schemes.",nps.pdf,400
1331,1331,"What is the provision for the establishment of mechanisms for redressing grievances of subscribers under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 52 of the Act, the Authority may make regulations for establishing mechanisms for redressing grievances of subscribers. The regulations may provide for the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by intermediaries.",nps.pdf,294
1332,1332,"What is the provision for the amendment to the National Pension System under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 52 of the Act, the Authority may make regulations for amending the National Pension System. The regulations may provide for the conditions of its purpose, frequency, and limits for withdrawals from individual pension accounts.",nps.pdf,240
1333,1333,"What is the provision for the conditions subject to which a subscriber shall exit from the National Pension System under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 52 of the Act, the Authority may make regulations for the conditions subject to which a subscriber shall exit from the National Pension System. The regulations may provide for the conditions subject to which the subscriber shall purchase an annuity.",nps.pdf,263
1334,1334,"What is the provision for the duties and functions of the central recordkeeping agency under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 52 of the Act, the Authority may make regulations for the duties and functions of the central recordkeeping agency. The regulations may provide for the determination of compensation of fair value of the regulated assets payable to the central recordkeeping agency.",nps.pdf,278
1335,1335,"What is the provision for the manner of receiving contributions and instructions and transmitting them to the Trustee Bank or central recordkeeping agency under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 52 of the Act, the Authority may make regulations for the manner of receiving contributions and instructions and transmitting them to the Trustee Bank or central recordkeeping agency. The regulations may provide for the regulations governing the functioning of points of presence.",nps.pdf,294
1336,1336,"What is the provision for the establishment of the National Pension System Trust under the Pension Fund Regulatory and Development Authority Act, 2013?","Under Section 52 of the Act, the Authority may make regulations for the establishment, duties, and functioning of the National Pension System Trust. The regulations may provide for the delegation of powers and functions of the Authority to committees.",nps.pdf,251
1337,1337,What Act provides for the regulation and development of the pension market in India?,"Pension Fund Regulatory and Development Authority Act, 2013",nps.pdf,59
1338,1338,Who is responsible for laying down rules and regulations made under this Act before Parliament?,"Every rule and every regulation made under this Act shall be laid, as soon as may be after its made, before each House of Parliament",nps.pdf,132
1339,1339,What is the purpose of Section 54 of the Act?,"The Central Government may, by order, published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to be necessary for removing any difficulty that may arise in giving effect to the provisions of this Act.",nps.pdf,263
1340,1340,Can any order be made under Section 54 after the expiry of five years from the commencement of this Act?,"No, no order shall be made under this section after the expiry of five years from the commencement of this Act.",nps.pdf,111
1341,1341,"What is the purpose of the Interim Pension Fund Regulatory and Development Authority (PFRDA) as described in the Resolution of the Ministry of Finance dated October 10, 2003?",To constitute an interim body as a precursor to the proposed statutory Authority to regulate and develop the pension market.,nps.pdf,124
1342,1342,What is the limit on the amount of sumptuary allowance that the Chairperson and Members of PFRDA are entitled to?,The Chairperson and Members of PFRDA would be entitled to Sumptuary Allowance as decided by the Government.,nps.pdf,107
1343,1343,What is the policy regarding the retention of government accommodation by a Government employee appointed to PFRDA?,"If a Government employee is appointed who has already been allotted a government accommodation, then he will be entitled to retain the same after obtaining approvals at appropriate level.",nps.pdf,187
1344,1344,What are the medical facilities available to the Chairperson and Members of PFRDA?,The Chairperson and Members shall be reimbursed the actual premium paid to purchase the domestic medical insurance cover.,nps.pdf,121
1345,1345,What is the status of the Chairperson and Members of PFRDA?,Chairperson and Member would not be accorded Ministerial status and the previous status of the appointee shall not be treated as a precedent for determining the terms of service.,nps.pdf,178
1346,1346,What are the leave entitlements of the Chairperson and Members of PFRDA?,"A Chairperson or Member would be entitled to 30 days of Earned Leave for every year of Service, and payment of leave salary during leave shall be governed by Rule 40 of CCS (Leave) Rules, 1972.",nps.pdf,193
1347,1347,What is the policy regarding administrative and other residual matters of PFRDA?,"Administrative matters relating to the operations of PFRDA, with respect to which no express provision has been made in these instructions, shall be referred in each case to the Central Government for its decision.",nps.pdf,214
1348,1348,When was the Government Resolution regarding the constitution of PFRDA issued?,"The Government Resolution regarding the constitution of PFRDA was issued on November 14, 2008.",nps.pdf,94
1349,1349,What is the tenure of the Chairman and Members of PFRDA?,"The Chairman and every Member shall hold office for a period of five years from the date on which he enters upon his office, and shall be eligible for reappointment.",nps.pdf,165
1350,1350,What are the eligibility criteria for reemployment of the Chairperson and Members of PFRDA?,Chairperson or a Member would not be eligible for reemployment under the Central Government or any body/authority substantially financed by the Central Government unless he has cooled off for a period of two years.,nps.pdf,214
1351,1351,What is the pay structure for the Chairman and Members of PFRDA?,"A Government servant, if appointed as Chairman, shall receive pay as admissible to the Secretary to the Government of India, or such higher pay as decided by the Government.",nps.pdf,173
1352,1352,What allowance are the Chairperson and Members entitled to apart from LTC and DA?,"The Chairperson and Members shall also be entitled to the facility of temporary government accommodation in guest houses/inspection bungalows under the control of the central government, wherever applicable, on payment of normal rent at outstations.",nps.pdf,249
1353,1353,What should be the status of Chairperson and Members in terms of protocol?,The Chairperson and Members would not be accorded Ministerial status and the previous status of the appointee shall not be treated as a precedent for determining the status accorded to the Chairperson/Member.,nps.pdf,208
1354,1354,"Under the Pension Fund Regulatory and Development Authority, are there any specific requirements for Government employees’ pension accounts?","Yes, government employees should have a tier I pension account which is non-withdrawable.",nps.pdf,89
1355,1355,Is the new pension system applicable to all government employees?,"No, the new pension system is mandatory for new recruits to the central government service from 1st January 2004 (except the armed forces in the first stage).",nps.pdf,158
1356,1356,What is the sumptuary allowance that the Chairperson and Members are entitled to?,The Chairperson and Members would be entitled to Sumptuary Allowance as decided by the government.,nps.pdf,98
1357,1357,What is the new contribution rate for government employees under the National Pension System (NPS)?,The new contribution rate for government employees under the NPS is 10% of the Basic Pay plus Dearness Allowance (DA) to be paid by the employee and 14% of the Basic Pay plus DA by the Central Government.,nps.pdf,204
1358,1358,What is the choice of pension fund available to government subscribers under the NPS?,"Government subscribers may choose any one of the pension funds including private sector pension funds, and they could change their option once in a year. However, the current provision of combination of the Public-Sector Pension Funds will be available as the default option for both existing as well as new government subscribers.",nps.pdf,331
1359,1359,What are the options for investment choices available to government employees under the NPS?,Government employees may choose from the following options: (a) the existing scheme in which funds are allocated by the PFRDA among the three Public Sector Undertaking fund managers based on their past performance; (b) 100% investment in Government securities (Scheme G); (c) Conservative Life Cycle Fund with maximum exposure to equity capped at 25% - LC-25; and (d) Moderate Life Cycle Fund with maximum exposure to equity capped at 50% - LC-50.,nps.pdf,447
1360,1360,What is the provision for implementation of choices to the legacy corpus under the NPS?,"For the present, change in the Pension Funds or investment pattern may be allowed in respect of incremental flows only. PFRDA may draw up a scheme for transfer of accumulated corpus as per new choices of government subscribers in a reasonable time frame of say five years.",nps.pdf,272
1361,1361,What is the compensation for non-deposit or delayed deposit of contributions during 2004-2012 under the NPS?,"In all cases where the NPS contributions were deducted from the salary of the government employee but the amount was not remitted to CRA system or was remitted late, the amount may be credited to the NPS account of the employee along with interest for the period from the date on which the deductions were made till the date the amount was credited to the NPS account of the employee, as per the rates applicable to GPF from time to time, compounded annually.",nps.pdf,459
1362,1362,What is the provision for part-time members of the Pension Fund Regulatory and Development Authority (PFRDA) regarding meeting allowance?,"A part-time member shall be entitled to receive an allowance of twenty thousand rupees only, for a meeting of the Authority attended by him. However, where a government officer is appointed as a part-time member, he shall not be paid any allowance for attending a meeting of the Authority.",nps.pdf,289
1363,1363,What is the provision for part-time members of the PFRDA regarding conveyance allowance?,"A part-time member shall, for attending a meeting of the Authority, be reimbursed Air-conditioned taxi charges of upto fifty kilometers or the actual expenses incurred by him, whichever is less and the reimbursement shall be claimed on self-certification basis, in case conveyance has not been provided by the Authority.",nps.pdf,320
1364,1364,"What is the provision for part-time members of the PFRDA regarding travelling allowance, daily allowance, and accommodation?","In case a part-time member called upon to go out of the ordinary place of his residence for discharging his duties as such member, he shall be entitled to travelling allowance, daily allowance, and accommodation at the same rate as applicable to a whole-time member of the Authority.",nps.pdf,283
1365,1365,What is the provision for part-time members of the PFRDA regarding official tours outside India?,"Tours outside India to be undertaken by the part-time members shall require prior approval of the Minister-in-charge of the Ministry of Finance and of the Screening Committee of the Secretaries and clearance from the Ministry of External Affairs from political angle and from the Ministry of Home Affairs for acceptance of foreign hospitality, if any, under the provisions of the Foreign Contribution (Regulation) Act, 2010 or any other law for the time being in force.",nps.pdf,469
1366,1366,What is the provision for part-time members of the PFRDA regarding oath of office and secrecy?,"A part-time member shall, before entering upon his office, subscribe to an oath of office and an oath of secrecy. The oath of office and the oath of secrecy shall be administered in Form I and Form II annexed to these rules.",nps.pdf,224
1367,1367,What is the purpose of the oath of secrecy for the part-time member of the Pension Fund Regulatory and Development Authority?,"The oath of secrecy is to ensure that the part-time member does not directly or indirectly communicate or reveal any matter that comes under their consideration or becomes known to them, except as may be required for the due discharge of their duties.",nps.pdf,251
1368,1368,"What is the time limit for filing an appeal under the Pension Fund Regulatory and Development Authority (Appeal to Securities Appellate Tribunal) Rules, 2014?",Every appeal shall be filed within a period of forty-five days from the date on which a copy of the order against which the appeal is filed is received by the appellant.,nps.pdf,169
1369,1369,What is the procedure for presenting a memorandum of appeal to the Appellate Tribunal?,"A memorandum of appeal shall be presented in the prescribed form to the registrar of the Appellate Tribunal within whose jurisdiction the case falls, or shall be sent by registered post addressed to the registrar.",nps.pdf,213
1370,1370,What is the language of the Appellate Tribunal proceedings?,"The proceedings of the Appellate Tribunal shall be conducted in English or Hindi, and no appeal, application, representation, document, or other matters contained in any language other than English or Hindi shall be accepted unless accompanied by a true copy of the translation in English or Hindi.",nps.pdf,298
1371,1371,What is the format for filing an appeal before the Appellate Tribunal?,"Every appeal, application, reply, representation, or document filed before the Appellate Tribunal shall be typewritten, cyclostyled, or printed neatly and legibly on one side of good quality paper of foolscap size in double space, and separate sheets shall be stitched together, and every page shall be consecutively numbered.",nps.pdf,326
1372,1372,What is the fee payable for filing an appeal against adjudication orders made under the Act?,"The amount of fee payable shall be as follows: (1) Less than rupees ten thousand - Rs. 500, (2) Rupees ten thousand or more but less than one lakh - Rs. 1200, (3) Rupees one lakh or more - Rs. 1200 plus Rs. 500 for every additional one lakh of penalty or fraction thereof, subject to a maximum of Rs. 1,50,000.",nps.pdf,310
1373,1373,Can an appeal be filed after the expiry of the time limit of forty-five days?,"Yes, the Appellate Tribunal may entertain an appeal after the expiry of the said period of forty-five days if it is satisfied that there was sufficient cause for not filing it within that period.",nps.pdf,195
1374,1374,What is the role of the registrar in the appeal process?,"The registrar shall endorse on every appeal the date on which it is presented, and if the appeal is found to be defective, the registrar may allow the appellant to rectify the defect or decline to register the appeal and communicate the order to the appellant.",nps.pdf,260
1375,1375,Can an appeal be made against the order of the registrar declining to register a memorandum of appeal?,"Yes, an appeal against the order of the registrar shall be made within fifteen days of receiving the order to the presiding officer or the member authorised under sub-rule (2) of rule 5, whose decision shall be final.",nps.pdf,217
1376,1376,What is the significance of the Securities Appellate Tribunal in the appeal process?,"The Securities Appellate Tribunal is the tribunal that hears appeals against orders made by the Pension Fund Regulatory and Development Authority, and its decisions are final and binding on the parties involved.",nps.pdf,211
1377,1377,"What are the additional functions and duties of the Registrar under the PFRDA (Appeal to Securities Appellate Tribunal) Rules, 2014?","The Registrar has additional functions and duties such as receiving all appeals, replies, and other documents, deciding all questions arising out of the scrutiny of appeals before they are registered, requiring any appeal presented to the Appellate Tribunal to be amended in accordance with the rules, and fixing the date of hearing of appeals or other proceedings and issuing notices thereon.",nps.pdf,393
1378,1378,"What is the format for filing an appeal under the PFRDA (Appeal to Securities Appellate Tribunal) Rules, 2014?","The format for filing an appeal is specified in Form (See rule 4) of the rules, which includes details such as particulars of the appellant, particulars of the respondent, jurisdiction of the Appellate Tribunal, limitation, facts of the case, relief sought, interim order, and verification.",nps.pdf,290
1379,1379,"What are the rules for the preparation of annual statements of accounts and records under the Pension Fund Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2015?","The rules require the Authority to prepare a balance sheet, income and expenditure account, and receipt and payment account in the specified forms, and to preserve these documents for a minimum period of five years following the financial year to which they relate.",nps.pdf,265
1380,1380,"Who is authorized to sign the balance sheet, income and expenditure account, and receipt and payment account under the Pension Fund Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2015?","The balance sheet, income and expenditure account, and receipt and payment account shall be signed by the Chief Account Officer of the Authority, Chairperson, and two members of the Authority.",nps.pdf,192
1381,1381,"What is the format for the balance sheet under the Pension Fund Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2015?","The format for the balance sheet is specified in Form A, which includes details such as liabilities, assets, and significant accounting policies.",nps.pdf,145
1382,1382,"What are the rules for the maintenance of accounts under the Pension Fund Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2015?","The Authority shall preserve the balance sheet, income and expenditure account, and receipt and payment account for a minimum period of five years following the financial year to which they relate.",nps.pdf,197
1383,1383,"What are the rules for the scrutiny of appeals under the PFRDA (Appeal to Securities Appellate Tribunal) Rules, 2014?","The Registrar shall decide all questions arising out of the scrutiny of appeals before they are registered, and may require any appeal presented to the Appellate Tribunal to be amended in accordance with the rules.",nps.pdf,214
1384,1384,"What are the rules for the hearing of appeals under the PFRDA (Appeal to Securities Appellate Tribunal) Rules, 2014?","The Registrar shall fix the date of hearing of appeals or other proceedings and issue notices thereon, subject to the directions of the Presiding Officer or in his temporary absence, the Member authorized under sub-rule (2) of rule 5.",nps.pdf,234
1385,1385,"What are the rules for the grant of copies of documents under the PFRDA (Appeal to Securities Appellate Tribunal) Rules, 2014?","The Registrar may order grant of copies of documents to parties to proceedings, and may also direct any formal amendment of records.",nps.pdf,132
1386,1386,"What are the rules for the verification of appeals under the PFRDA (Appeal to Securities Appellate Tribunal) Rules, 2014?","The appeal shall be verified by the appellant or authorized representative, who shall declare that the contents of the appeal are true to their personal knowledge and belief, and that they have not suppressed any material facts.",nps.pdf,228
1387,1387,"What is the purpose of the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?",The purpose of these rules is to prescribe the form of annual statement of accounts and records to be maintained by the Pension Fund Regulatory and Development Authority.,nps.pdf,170
1388,1388,"What is the format of the Income and Expenditure Account for the year ended 31st March, 201__?","The format of the Income and Expenditure Account includes schedules for current year and previous year, with details of income and expenditure under various heads such as establishment expenses, grants, fees, subscriptions, income from investments, royalty, publications, interest, depreciation, and others.",nps.pdf,307
1389,1389,"What is the purpose of Schedule 1 attached to the Balance Sheet as at 31st March, 201__?","Schedule 1 is used to calculate the Corpus/Capital Fund of the Pension Fund Regulatory and Development Authority, including opening balance, additions, deductions, and balance at the year end.",nps.pdf,192
1390,1390,What are the different types of reserves and surplus that are maintained by the Pension Fund Regulatory and Development Authority?,"The Authority maintains Capital Reserve, Revaluation Reserve, Special Reserve, and General Reserve, which are used to record additions and deductions during the year and to calculate the total reserves and surplus at the year end.",nps.pdf,230
1391,1391,What is the purpose of Earmarked/Endowment Funds and how are they accounted for?,"Earmarked/Endowment Funds are received from various sources, including donations and grants, and are used for specific purposes, such as capital expenditure and revenue expenditure, and are accounted for separately in the Balance Sheet.",nps.pdf,236
1392,1392,"What is the format of the Receipt and Payment Account for the year ended 31st March, 201__?","The format of the Receipt and Payment Account includes details of receipts and payments under various heads, including opening balances, grants received, income on investments, interest received, and others.",nps.pdf,207
1393,1393,What are the different types of investments that are made by the Pension Fund Regulatory and Development Authority?,"The Authority makes investments in various forms, including fixed assets, capital work-in-progress, and deposits, which are accounted for separately in the Balance Sheet.",nps.pdf,170
1394,1394,What is the purpose of the Significant Accounting Policy note attached to the financial statements?,The Significant Accounting Policy note is used to disclose the accounting policies and practices followed by the Pension Fund Regulatory and Development Authority in preparing the financial statements.,nps.pdf,201
1395,1395,What is the purpose of the Contingent Liabilities and Notes on Accounts attached to the financial statements?,"The Contingent Liabilities and Notes on Accounts are used to disclose contingent liabilities and provide additional information about the financial statements, including explanations of significant transactions and events.",nps.pdf,222
1396,1396,Who is responsible for signing the financial statements of the Pension Fund Regulatory and Development Authority?,"The financial statements are signed by the Chief Accounts Officer, Member, and Chairperson of the Authority.",nps.pdf,108
1397,1397,"What is the purpose of Schedule 4 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 4 is attached to and forms part of the balance sheet as at 31st March, and it provides details of secured loans and borrowings.",nps.pdf,136
1398,1398,What are the different types of unsecured loans and borrowings that need to be reported in Schedule 5?,"Schedule 5 requires reporting of unsecured loans and borrowings from Central Government, State Government, Financial Institutions, Banks, Other Institutions, Debentures and Bonds, Fixed Deposits, and Others.",nps.pdf,207
1399,1399,"What is the purpose of Schedule 6 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 6 is attached to and forms part of the balance sheet as at 31st March, and it provides details of deferred credit liabilities.",nps.pdf,135
1400,1400,What are the different types of current liabilities and provisions that need to be reported in Schedule 7?,"Schedule 7 requires reporting of current liabilities such as acceptances, sundry creditors, advances received, interest accrued but not due, statutory liabilities, and other current liabilities, as well as provisions for taxation, gratuity, trade warranties/claims, accumulated leave encashment, and pension contribution payable.",nps.pdf,329
1401,1401,"What is the purpose of Schedule 8 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 8 is attached to and forms part of the balance sheet as at 31st March, and it provides details of fixed assets, including land, buildings, plant and machinery, vehicles, furniture and fixtures, office equipment, and other fixed assets.",nps.pdf,244
1402,1402,What are the different types of investments that need to be reported in Schedule 9?,"Schedule 9 requires reporting of investments from earmarked/endowment funds, including government securities, other approved securities, shares, debentures and bonds, subsidiaries and joint ventures, and others.",nps.pdf,211
1403,1403,"What is the purpose of Schedule 10 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 10 is attached to and forms part of the balance sheet as at 31st March, and it provides details of other investments, including government securities, other approved securities, shares, debentures and bonds, subsidiaries and joint ventures, and others.",nps.pdf,261
1404,1404,"What are the different types of current assets, loans, and advances that need to be reported in Schedule 11?","Schedule 11 requires reporting of current assets such as inventories, sundry debtors, cash in hand, bank balances, post office savings accounts, and others, as well as loans and advances, including staff loans, loans to other entities, and advances and other amounts recoverable in cash or in kind or for value to be received.",nps.pdf,326
1405,1405,What is the purpose of the note to be given in Schedule 8?,"The note in Schedule 8 is to provide information about the cost of assets on hire purchase basis, which is included in the fixed assets.",nps.pdf,136
1406,1406,"Who are the authorized signatories for the schedules and forms in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","The authorized signatories are the Chief Accounts Officer, Member, and Chairperson.",nps.pdf,83
1407,1407,"What is the purpose of Schedule 12 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 12 is attached to and forms part of the Income and Expenditure Account for the year ending at 31.03.201___, and it provides details of income from sales and services.",nps.pdf,175
1408,1408,"What types of grants and subsidies are received by the Pension Fund Regulatory and Development Authority, as per Schedule 13?","The Authority receives irrevocable grants and subsidies from various sources, including the Central Government, State Government, government agencies, institutions, welfare bodies, international organizations, and others.",nps.pdf,221
1409,1409,"What is the purpose of Schedule 15 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 15 provides details of income from investments, including interest, dividend, and rents, and also shows the amount transferred to earmarked/endowment funds.",nps.pdf,165
1410,1410,"What types of income are included in Schedule 16 of the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 16 includes income from royalty, publications, and other sources.",nps.pdf,74
1411,1411,"What is the purpose of Schedule 18 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 18 provides details of other income, including profit on sale/disposal of assets, export incentives realized, fees for miscellaneous services, and miscellaneous income.",nps.pdf,177
1412,1412,"What types of expenses are included in Schedule 20 of the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 20 includes establishment expenses, such as salaries and wages, allowances and bonus, contribution to provident fund, staff welfare expenses, and others.",nps.pdf,162
1413,1413,"What is the purpose of Schedule 21 in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 21 provides details of other administrative expenses, including purchases, labor and processing expenses, cartage and carriage inwards, electricity and power, and others.",nps.pdf,179
1414,1414,"What types of expenditures are included in Schedule 22 of the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","Schedule 22 includes expenditure on grants, subsidies, and other expenses, such as grants given to institutions/organizations/National Pension System Trust, subsidies given to institutions/organizations, and others.",nps.pdf,215
1415,1415,"What is the significance of the certification by the Chief Accounts Officer, Member, and Chairperson in the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","The certification by the Chief Accounts Officer, Member, and Chairperson is significant as it verifies the accuracy and completeness of the financial statements and accounts presented in the schedules.",nps.pdf,201
1416,1416,"What is the purpose of the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015?","The purpose of the PFRDA (Form of Annual Statement of Accounts and Records) Rules, 2015 is to provide a standardized format for the preparation and presentation of annual financial statements and accounts by the Pension Fund Regulatory and Development Authority.",nps.pdf,262
1417,1417,"What is the purpose of the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?","The purpose of these rules is to provide a procedure for search and seizure by an authorised officer under the Pension Fund Regulatory and Development Authority Act, 2013.",nps.pdf,171
1418,1418,Who can issue an authorisation for search and seizure under these rules?,"The Authority, or the Chairperson, or a whole-time member authorised by the Authority, can issue an authorisation for search and seizure.",nps.pdf,137
1419,1419,What is the rank of the officer to whom an authorisation for search and seizure can be issued?,The Authority shall issue an authorisation to an officer not below the rank of General Manager of the Authority for the purpose of search and seizure under Section 17.,nps.pdf,167
1420,1420,What are the obligations of a person in charge of a building or place to be searched?,"The person in charge of a building or place to be searched shall, on demand by the authorised officer and on production of the authorisation, allow him free ingress thereto and afford all reasonable facilities for a search therein.",nps.pdf,231
1421,1421,In what circumstances can police force be used to aid the authorised officer in the execution of an authorisation for search and seizure?,"Police force can be used to aid the authorised officer if ingress into a building or place cannot be obtained and it is lawful for the authorised officer, with the assistance of police officers, to enter such building or place and search therein.",nps.pdf,246
1422,1422,Can a search and seizure be made without calling upon witnesses to attend and witness the search and seizure?,"No, the authorised officer shall call upon two or more respectable inhabitants of the locality in which the building or place to be searched is situated to attend and witness the search and seizure.",nps.pdf,198
1423,1423,"What happens to the books, accounts, papers, receipts, vouchers, survey reports, or other documents seized during the search?","The books, accounts, papers, receipts, vouchers, survey reports, or other documents seized during the search are to be placed in a package or packages, listed, and sealed, and a copy of the list is to be delivered to the occupant or person, and a copy is to be forwarded to the Authority.",nps.pdf,288
1424,1424,Who is required to prepare a list of all things seized in the course of a search?,"The authorised officer shall prepare a list of all the books, accounts, papers, receipts, vouchers, survey reports, or other documents seized in the course of the search and signed by the witnesses.",nps.pdf,198
1425,1425,What is the obligation of the authorised officer regarding the rights of occupants of the building or place searched?,"The authorised officer shall allow the occupant or some person on his behalf to attend during the search and deliver a copy of the list prepared to the occupant or person, and forward a copy to the Authority.",nps.pdf,208
1426,1426,"What is the final disposal of the books, accounts, papers, receipts, vouchers, survey reports, or other documents seized during a search?","The authorised officer shall deposit the books, accounts, papers, receipts, vouchers, survey reports, or other documents seized during the search with the Custodian Officer.",nps.pdf,173
1427,1427,"What is the role of the Custodian Officer as per Rule 15 of the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?",The Custodian Officer shall take steps for the safe custody of the package or packages referred to in Rule 13 and deposited with him. He may deposit the packages with any branch of a public sector bank or with such officer or authority as may be specified by the Authority.,nps.pdf,273
1428,1428,"What happens to the package or packages deposited with the Custodian Officer as per Rule 16 of the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?","The authorised officer may requisition the package or packages from the Custodian Officer or the branch of public sector bank or the officer or authority referred to in Rule 15. The package or packages shall be delivered to him, and he may break any seal and open them in the presence of two respectable witnesses, giving a reasonable notice to the person from whose custody the contents were seized to be present.",nps.pdf,414
1429,1429,"What is the purpose of the warrant of authorisation issued under Section 17 of the Pension Fund Regulatory and Development Authority Act, 2013 and Rule 5 of the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?","The warrant of authorisation is issued to authorise the Authorised Officer to enter and search the building or place, search any person who has reason to suspect has secreted about their person any books, accounts, papers, receipts, vouchers, survey reports, or other documents, and seize any such documents found as a result of the search.",nps.pdf,340
1430,1430,"What is the role of the Authorised Officer as per the warrant of authorisation issued under Section 17 of the Pension Fund Regulatory and Development Authority Act, 2013 and Rule 5 of the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?","The Authorised Officer is empowered to enter and search the building or place, search any person, place identification marks on books of account and documents, examine and make copies of documents, seize documents, and deposit them with the Custodian Officer or the branch of public sector bank or with the officer or authority referred to in Rule 15.",nps.pdf,351
1431,1431,"Can the Authorised Officer requisition the services of any police officer or any officer of the Central Government to assist him in carrying out the purposes specified in the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?","Yes, the Authorised Officer can requisition the services of any police officer or any officer of the Central Government to assist him in carrying out the purposes specified in the Rules.",nps.pdf,186
1432,1432,"What happens if the Authorised Officer is unable to seize any books, accounts, papers, receipts, vouchers, survey reports, or other documents during the search?","If it is not practicable to seize any such documents, the Authorised Officer may serve an order on the person who is in immediate possession or control of the documents that they shall not remove, part with, or otherwise deal with them except with the previous permission of the officer.",nps.pdf,287
1433,1433,"Can the Authorised Officer examine any person who is found to be in possession or control of any books, accounts, papers, receipts, vouchers, survey reports, or other documents during the search or seizure?","Yes, the Authorised Officer can examine on oath any person who is found to be in possession or control of any such documents during the course of the search or seizure.",nps.pdf,168
1434,1434,"What is the duty of every police officer or officer of the Central Government when requisitioned by the Authorised Officer to assist him in carrying out the purposes specified in the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?",Every police officer or officer of the Central Government requisitioned by the Authorised Officer shall comply with the requisition.,nps.pdf,132
1435,1435,"What happens to the package or packages opened by the Authorised Officer as per Rule 16 of the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?","After the package or packages are opened by the Authorised Officer, the contents are placed in a fresh package or packages and sealed in the manner specified in Rule 13 or delivered to the person from whose custody the contents were seized or to the Custodian Officer or the branch of public sector bank or the officer or authority referred to in Rule 15.",nps.pdf,355
1436,1436,"Who issues the warrant of authorisation under Section 17 of the Pension Fund Regulatory and Development Authority Act, 2013 and Rule 5 of the PFRDA (Procedure for Search and Seizure by Authorised Officer) Rules, 2014?",The warrant of authorisation is issued by the Authority or the Chairperson or whole-time member of the Authority or any person authorised by them.,nps.pdf,146
1437,1437,"What is the name of the rules made by the Central Government in exercise of the powers conferred by sub-section (2) of section 46 read with sub-section (1) and clause (i) of sub-section (2) of section 51 of the Pension Fund Regulatory and Development Authority Act, 2013?","The Pension Fund Regulatory and Development Authority (Reports, Returns and Statements) Rules, 2015.",nps.pdf,100
1438,1438,What is the definition of 'financial agency' or 'financial agencies' as per the rules?,"Financial agency or financial agencies means the Reserve Bank of India established under section 3 of the Reserve Bank of India Act, 1934, the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992, and the Insurance Regulatory and Development Authority established under section 3 of the Insurance Regulatory and Development Authority Act, 1999.",nps.pdf,414
1439,1439,What is the purpose of the programme for co-ordination with financial agencies and other agencies as per rule 4?,"The purpose of the programme is to promote old age income security and to protect the interests of the subscribers to schemes of pension funds, promotion and development of the pension industry and for carrying out the provisions of the Act.",nps.pdf,241
1440,1440,What is the requirement for the Authority to maintain a website or any other universally accessible repository of electronic information as per rule 5?,"The Authority shall maintain a website or any other universally accessible repository of electronic information containing details of all rules, regulations, orders, including amendments thereof, information about the process and manner in which applications under this Act are to be made, and material information about the functions of the Authority.",nps.pdf,352
1441,1441,What is the requirement for the Authority to prepare a report on the expenditure incurred by it during the year as per rule 6?,"The Authority shall prepare a report of the expenditure incurred by it during the year in respect of its duties and functions under the Act, and the report shall form part of the annual report.",nps.pdf,193
1442,1442,What is the requirement for the Authority to determine the goals to be achieved by it relating to its duties and functions under the Act as per rule 7?,The Authority shall determine the goals to be achieved by it relating to its duties and functions under the Act and develop a system to measure and evaluate its efficiency in achieving such goals.,nps.pdf,196
1443,1443,What is the requirement for the Authority to submit a report on the matters specified in sub-rule (1) of rule 8?,"The Authority shall make a report on the matters specified in sub-rule (1), at least once in every financial year, and such report shall form part of the annual report.",nps.pdf,168
1444,1444,What is the requirement for the Authority to submit an annual report to the Central Government as per rule 9?,"The Authority shall, within nine months after the close of each financial year, submit to the Central Government a report (herein referred to as 'annual report') giving a true and full account of its activities including the activities for promotion and development of schemes of pension funds regulated under the Act during the previous financial year.",nps.pdf,353
1445,1445,What are the contents of the annual report as per sub-rule (2) of rule 9?,"The annual report may include the audit report and its certified accounts along with the observations of the Authority thereon, statement of deliberations of the Authority, accompanied by the records of its meetings, statement of corporate and operational goals and objectives, and other matters as specified in the rule.",nps.pdf,321
1446,1446,What is the requirement for the Authority to authenticate the annual report as per sub-rule (3) of rule 9?,"The annual report shall, after due adoption at a meeting of the Authority, be signed by each member of the Authority and authenticated by affixing the common seal of the Authority.",nps.pdf,180
1449,1449,"According to the PFRDA (Salary and Allowances Payable to, and other Terms and Conditions of Service of, Chairperson and Whole-time Members) Rules, 2014 what is the consolidated salary of the whole-time member without the facility of house and car?",Four lakh rupees per month,nps.pdf,26
1450,1450,What kinds of functions did the authority exercise regarding National Pension System like registration activities part all other go intermediaries?,"The authority exercised various functions such as, regulating the registration of intermediaries and other activities like keeping an eye on how they operate. They oversaw pension fund management, designed norms for managing their corpus, and monitored the rates of investments they followed",nps.pdf,291
1451,1451,What areas were considered for an evaluation of policies and programs dealing with the NPS and also with programs other than national pension of having a certain impact under relevant act of the PFRDA rule in 9 created the form of annual report what needs to be addressed?,They considered review policies and of economic state and functioning the markets the sectors review regulatory work of pension national performance sector nation even covered intermediaries norms protection managing an intermediatory pension of issues country,nps.pdf,260
1452,1452,In the PFRDA reports what was  part IV including?,including Pension Advisory Committee reviewing work functioning every person many committee committee under set performance of being proper Pensions information activity further sub making specific going condition stated persons these necessary check implementation getting here much conditions keeping real account new measures looking setting follow from final who norms now details implementation role defined areas whether must those term years date account seen fully area is chair area rule looking through level would.,nps.pdf,525
1453,1453,At beginning short tenure commence no question exists committee real it existed basically make best give its say there form head based used exist defined chairman always as persons board present three only pay defined regulation clearly needs period between power high,"regard Cabinet terms powers than between if take work look details government keep part, proper very.",nps.pdf,101
1454,1454,Allowance transportation whole expenses just leave said full committee role but those amount needs first. both question pension are them three another most,After him daily food several question number could months his journey where travelled give equal role such paid present others board meet needed various further basic related based keep total claim position going had better,nps.pdf,223
1455,1455,Since existing having financial number according provided knowledge name right known years less service law at relevant whole PFM existing by central laws decision those provide period where defined department always state second real on used during more money fixed others further proper another good persons getting monthly going existing departmental as than months part paid these P defined needs provided where decided money committee the which through members through so position age clearly member date proper money what been payment can terms before leave giving information question very financial date known work any name members were board various. Cabinet since details whether according relevant been another related chair appointed about now condition payment department part equal higher regulation month at state is three new where always term certain current necessary higher working conditions condition both appointed give claim but there defined going required related needed conditions or information needs P power appointed final central from," The all chairman fully many period members existing need also pay existing their members Cabinet whether year there where must taken giving then or later like such high leave known related him conditions three second be since three, head such both taken what part having government number very his still it service should level chairman could several money several good pension needs relevant said under would in each no decided these two these good some on department used required can decided been time certain each terms another months are central provided term provided paid part term about just.",nps.pdf,601
1456,1456,"What is the scale and rate of travelling allowance, daily allowance, transportation of personal effects, and other similar matters applicable to whole-time members of the Pension Fund Regulatory and Development Authority?",The scale and rate applicable to Group ‘A’ officers of equivalent rank of the Central Government in level 15 of the pay matrix.,nps.pdf,127
1457,1457,What is the requirement for undertaking tours outside India by the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority?,"Prior approval of the Minister-in-charge of the Ministry of Finance and clearance from the Ministry of External Affairs from a political angle and from the Ministry of Home Affairs for acceptance of foreign hospitality, if any.",nps.pdf,227
1458,1458,What is the rate of leave travel concession applicable to the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority?,The rate applicable to officers of the Central Government in level 17 of the pay matrix in the case of Chairperson and in level 15 of the pay matrix in the case of whole-time members.,nps.pdf,183
1459,1459,Can the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority claim sitting fees for attending meetings of the Authority?,"No, they are not entitled to any sitting fee for attending meetings of the Authority.",nps.pdf,85
1460,1460,What is the leave policy for the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority?,"Thirty days of earned leave for every year of service, and encashment of fifty percent of earned leave standing to their credit at any time, subject to certain conditions.",nps.pdf,171
1461,1461,Who is the authority competent to grant leave to whole-time members of the Pension Fund Regulatory and Development Authority?,The Chairperson is the authority competent to grant leave to whole-time members.,nps.pdf,80
1462,1462,Are the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority entitled to sumptuary allowance?,"No, they are not entitled to sumptuary allowance.",nps.pdf,49
1463,1463,What is the policy on gratuity and pension for the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority?,"They are not entitled to gratuity, but are eligible to join the National Pension System applicable to Central Government employees.",nps.pdf,131
1464,1464,What is the policy on telephone facility for the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority?,They are eligible for telephone facility as admissible to officers of the Central Government in level 17 of the pay matrix in the case of Chairperson and in level 15 of the pay matrix in the case of whole-time members.,nps.pdf,218
1465,1465,What is the policy on medical facility for the Chairperson and whole-time members of the Pension Fund Regulatory and Development Authority?,"They are entitled to medical treatment and facilities as provided in the Central Government Health Scheme for retired Government servants, or as provided in the Central Service (Medical Attendance) Rules, 1944, where facilities under the Central Government Health Scheme are not available.",nps.pdf,289
1466,1466,"What is the purpose of the Pension Fund Regulatory and Development Authority (Aggregator) Regulations, 2015?",The Regulation aims to provide regulatory framework for registration of existing Aggregators and monitor implementation of National Pension System for the best interest of the target subscribers.,nps.pdf,195
1467,1467,Who is eligible to be enlisted as an aggregator under the National Pension System?,"Entities such as Nodal offices or entities managing the pension schemes for identified beneficiary groups under the Central and State Governments, scheduled banks, Regional Rural Banks and other Financial Institutions, India Post, Insurance companies, Micro-Finance Institutions (MFIs), Non Banking Finance Companies (NBFCs), Non Government Organizations (NGOs), entities running common service centers under the National E-Governance plan, Housing Finance Institutions, and any other category as may be specified by the Authority from time to time.",nps.pdf,549
1468,1468,What are the eligibility criteria for grant of certificate of registration as an aggregator?,"The entity shall have been in business of financial services or financial products for at least five years as on date of application with a proven track record, shall be financially viable and shall not have incurred loss in at least three years of the past five years immediately preceding the date of application, and shall not have also incurred cash losses in the immediately preceding two years on the date of application.",nps.pdf,427
1469,1469,What is the net worth criteria for an entity to be registered as an aggregator?,"The entity shall meet the following net worth criteria: rupees One Crore for those having been in business for more than five years, and for entities having exceptional track record and more than ten years of experience, the net worth criteria may be relaxed to rupees Fifty Lakh in deserving cases, as may be deemed fit by the Authority.",nps.pdf,338
1470,1470,What is the role of the compliance officer in an aggregator?,"The compliance officer is a person of responsibility from an aggregator designated as such and charged with the responsibility of monitoring compliance by it of the provisions of the Act or the rules or the regulations made or notifications, guidelines, circulars or instructions issued by the Authority, including monitoring of redressal of subscriber grievances.",nps.pdf,364
1471,1471,"What is the definition of an aggregator under the Pension Fund Regulatory and Development Authority Act, 2013?","An aggregator means an intermediary registered by the Authority under sub-section (3) of section 27 of the Act, to perform subscriber interface functions under the National Pension System - Swavalamban, which shall have functional relationship with a known customer base for delivery of some socio-economic goods or services.",nps.pdf,325
1472,1472,"What is the definition of a citizen of India under the Pension Fund Regulatory and Development Authority (Aggregator) Regulations, 2015?","A citizen of India means any person qualified to be a citizen of India under the Citizenship Act, 1955 (57 of 1955).",nps.pdf,116
1473,1473,"What is the definition of a company under the Pension Fund Regulatory and Development Authority (Aggregator) Regulations, 2015?","A company means any entity formed and registered under the Companies Act, 1956 (1 of 1966).",nps.pdf,91
1474,1474,"What is the definition of investment guidelines under the Pension Fund Regulatory and Development Authority (Aggregator) Regulations, 2015?",Investment guidelines mean guidelines and circulars issued by the Authority from time to time having regard to applicable investment pattern and limits thereof.,nps.pdf,160
1475,1475,"What is the definition of National Pension System -Lite under the Pension Fund Regulatory and Development Authority (Aggregator) Regulations, 2015?",National Pension System -Lite means the scheme under National Pension System providing a feature of optimized group model of National Pension System for persons belonging to unorganized sector of which National Pension System - Swavalamban is a component where Government of India co-contribution is admissible.,nps.pdf,311
1476,1476,"What is the eligibility criteria for an entity to be considered as an aggregator under the PFRDA (Aggregator) Regulations, 2015?","The entity shall meet the eligibility criteria specified in the regulations, which includes having a proven track record, being fully or partly controlled by the Central or State Government, or being created under a specific arrangement of the Central or State Government.",nps.pdf,272
1477,1477,"What is the process for applying for registration as an aggregator under the PFRDA (Aggregator) Regulations, 2015?","An applicant meeting the eligibility criteria shall make an application to the Authority along with a non-refundable application fee in Form A or Form B, as specified in Schedule I or Schedule II of the regulations.",nps.pdf,215
1478,1478,What is the role of the Authority in considering an application for grant of certificate of registration as an aggregator?,"The Authority shall take into account all matters which it deems relevant to the pension sector and National Pension System-Swavalamban, including the applicant's past record, eligibility criteria, and whether the grant of a certificate is in the interest of subscribers.",nps.pdf,271
1479,1479,What is the time period within which the Authority shall dispose of an application for grant of certificate of registration as an aggregator?,The Authority shall dispose of an application for grant of certificate of registration within a period of sixty days from the date of receipt of such application.,nps.pdf,162
1480,1480,Can the Authority relax some or all of the eligibility criteria for an entity to be considered as an aggregator?,"Yes, the Authority may relax some or all of the eligibility criteria in case of entities which are fully or partly controlled by the Central or State Government or have been created under a specific arrangement of the Central or State Government, on a case-to-case basis.",nps.pdf,271
1481,1481,What is the purpose of the due diligence conducted by the Authority at the applicant's office?,The purpose of the due diligence is to verify the information furnished by the applicant and to assess the applicant's eligibility for grant of certificate of registration as an aggregator.,nps.pdf,189
1482,1482,Can an existing aggregator continue to act as such without making an application for grant of registration?,"No, an existing aggregator shall make an application for grant of registration within ninety days from the notification of the regulations or such further time as may be extended by the Authority.",nps.pdf,196
1483,1483,What is the consequence of furnishing false or misleading information in an application for grant of certificate of registration as an aggregator?,The application shall be rejected and the applicant shall not make any application for grant of certificate under these regulations or any other regulations for a period of one year from the date of such rejection.,nps.pdf,214
1484,1484,Can the Authority waive the requirement for payment of application fee in specific and deserving cases?,"Yes, the Authority may waive the requirement for payment of application fee in specific and deserving cases, for reasons to be recorded in writing.",nps.pdf,147
1485,1485,What is the purpose of the presentation made by the applicant to the Authority during the consideration of the application?,The purpose of the presentation is to allow the applicant to present its proposal to the Authority and to apprise it of the key strengths in its proposal.,nps.pdf,154
1486,1486,What is the process for granting a certificate of registration to an aggregator?,"The Authority grants a certificate of registration in the form specified in Schedule IV after being satisfied that the applicant is eligible, and the applicant has submitted the one-time registration fee of rupees twenty-five thousand.",nps.pdf,235
1487,1487,What are the conditions that an aggregator must comply with to maintain its certificate of registration?,"An aggregator must comply with the provisions of the Act, rules, and regulations, and also meet the eligibility criteria and other requirements specified in the relevant regulations.",nps.pdf,182
1488,1488,What is the process for renewing a certificate of registration for an aggregator?,An aggregator must make an application in the specified form together with a renewal fee of rupees twenty-five thousand within ninety days before the expiry of five years from the date of registration or date of the payment of renewal fee last accepted by the Authority.,nps.pdf,270
1489,1489,What happens if an aggregator fails to obtain or renew its certificate of registration?,"The aggregator must cease to act as an aggregator, transfer its activities to another aggregator, make provisions for liability incurred or assumed by the aggregator, and take such other action as may be required under the relevant regulations or as may be directed by the Authority.",nps.pdf,283
1490,1490,What is the security deposit that an aggregator must submit to the Authority?,"An aggregator must submit a security deposit equivalent to one per cent of its net worth or rupees five lakh, whichever is higher, with a maximum security deposit of rupees twenty lakhs.",nps.pdf,186
1491,1491,How can the security deposit be utilized by the Authority?,"The Authority may direct the invocation of the security deposit as an interim measure, pending any inquiry or investigation against the aggregator, and the proceeds of the security deposit shall be utilized for the protection of interest of the subscribers under the said aggregator.",nps.pdf,283
1492,1492,What is the revenue model for an aggregator?,"An aggregator shall receive a fixed sum after each completed year of business or at any interval as may be specified by the Authority from time to time, based on a 'Subscriber Acquisition cum Retention Model' approved by the Authority.",nps.pdf,235
1493,1493,What are the duties and responsibilities of an aggregator?,"An aggregator has duties such as promoting National Pension System, complying with 'Know Your Customer' requirements, discharging responsibilities relating to transfer of fund and data upload, collecting contributions from subscribers, and ensuring its remittance to Trustee Bank.",nps.pdf,280
1494,1494,Can an aggregator collect fees or service charges from subscribers?,"No, an aggregator is not authorized to collect any sum from the subscriber towards their own fee or service charges.",nps.pdf,116
1495,1495,How is the remuneration of an aggregator determined?,"The remuneration of an aggregator is based on each individual subscriber who becomes eligible to receive Swavalamban co-contribution under the scheme during the year, and is paid by the Authority to each aggregator based on claim submitted by them and verified by the Authority.",nps.pdf,278
1496,1496,What is the responsibility of an aggregator with respect to issuing receipts to subscribers?,The aggregator shall issue a receipt to the subscriber at the time of collection of fund and proper reconciliation for the same shall be done by the aggregator.,nps.pdf,160
1497,1497,What are the investment options available under the National Pension System-Swavalamban?,"The Authority may, at its discretion and in the interest of subscribers, specify a pre-defined set of asset classes for investment. The subscriber shall have the option to choose the investment mix and Pension Fund through the Aggregator.",nps.pdf,238
1498,1498,What is the role of a facilitator in operationalizing the National Pension System-Swavalamban?,A facilitator may be any organization or entity engaged in the financial services or financial products sector and shall be registered with any financial sector regulator in India. Nodal offices or entities running certain schemes for identified beneficiary groups under the Central and State Governments may also be engaged as a facilitator.,nps.pdf,342
1499,1499,"Who is responsible for monitoring compliance by the aggregator of the provisions of the Act, rules and regulations?","Every aggregator shall appoint a compliance officer, from amongst its senior management level officers, who shall be responsible for monitoring compliance by the aggregator of the provisions of the Act, rules and regulations, notifications, guidelines or instructions issued by the Authority.",nps.pdf,292
1500,1500,What are the books of accounts that every aggregator shall keep?,"Every aggregator shall keep the following books of accounts: details of subscriber registration forms received and submitted to the central recordkeeping agency for registration and Permanent Retirement Account Number data generated for all such applicants, details of money received from the subscribers, details of cash held on a daily basis, and more.",nps.pdf,354
1501,1501,What is the responsibility of an aggregator with respect to grievances received from subscribers?,"Handling grievances received from subscribers and their resolution in accordance with the provisions of the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015.",nps.pdf,212
1502,1502,Can an individual be registered as a facilitator?,"No individual shall be registered as a facilitator, except business correspondent whom banks may at their discretion engage as a facilitator.",nps.pdf,141
1503,1503,What is the responsibility of an aggregator with respect to the security deposit of the respective aggregator?,"All defaults in the cash collection and transfer process causing loss to the subscribers shall be made good by the aggregator in the first instance failing which the same will be made good from the security deposit of the respective aggregator or remuneration due to them, if any.",nps.pdf,280
1504,1504,What is the role of the compliance officer in reporting non-compliance to the Authority?,The compliance officer shall immediately and independently report any non-compliance observed by him to the Authority.,nps.pdf,118
1505,1505,What is the responsibility of an aggregator with respect to providing a certificate to the Authority?,"An aggregator shall provide to the Authority a certificate duly signed by its compliance officer on annual basis within thirty days of closure of accounts for the financial year certifying the compliance by the aggregator with all the obligations, responsibilities and the fulfillment of the eligibility criteria on a continuous basis under these regulations.",nps.pdf,359
1506,1506,What are the requirements for an aggregator to prominently display on its website?,The aggregator must prominently display the name and contact details of the compliance officer to whom complaints may be made in the event of any subscriber grievance.,nps.pdf,167
1507,1507,What is the primary responsibility of the aggregator in managing the affairs of the National Pension System - Swavalamban subscribers?,The aggregator shall continuously abide by the code of conduct and avoid conflicts of interest in managing the affairs of the National Pension System - Swavalamban subscribers and keep the interest of all subscribers paramount in all matters.,nps.pdf,242
1508,1508,How must the aggregator provide updated information on the National Pension System - Swavalamban to subscribers?,The aggregator must provide updated information on the National Pension System - Swavalamban through a fair disclosure mechanism as may be prescribed by the Authority from time to time to enable informed decision making by the subscriber.,nps.pdf,238
1509,1509,What standards of integrity and fairness must the aggregator maintain in its dealings?,"The aggregator shall maintain high standards of integrity and fairness in all its dealings and in conduct of their business, rendering high standards of service, exercising due diligence, and exercising independent professional judgment.",nps.pdf,237
1510,1510,What constitutes unfair conduct by the aggregator when dealing with subscribers?,"Unfair conduct includes acts of omission that significantly impair or are likely to significantly impair the ability of a subscriber to make an informed transactional decision, such as providing inaccurate information or engaging in misleading or abusive conduct.",nps.pdf,263
1511,1511,What responsibilities must the compliance officer of the aggregator undertake?,"The compliance officer is entrusted with a responsibility for monitoring the compliance with rules and regulations, notifications, guidelines or instructions issued by the Authority, including for redressal of subscribers' grievances.",nps.pdf,234
1512,1512,Can the aggregator collect any sum from subscribers towards their own fee or service charges?,"No, the aggregator shall not be authorized to collect any sum from the subscribers towards their own fee or service charges.",nps.pdf,124
1513,1513,What measures must the aggregator take to protect subscribers' records?,The aggregator shall establish adequate procedures and facilities to ensure that its records are protected against loss or destruction and arrangements have been made for maintaining backup facilities.,nps.pdf,201
1514,1514,"Can the Authority undertake an inspection and audit of the aggregator's books, accounts, and records?","Yes, the Authority may undertake directly or through its authorized representative an inspection and audit of the aggregator's books, accounts, records, including telephone records and electronic records and documents, for any purpose, including ascertaining the aggregator's compliance with the regulations.",nps.pdf,308
1515,1515,How much notice must the Authority give to the aggregator before undertaking an inspection or audit?,The Authority must give the aggregator ten working days' notice before undertaking an inspection or audit under regulation 21.,nps.pdf,126
1516,1516,"What is the duty of an aggregator during an inspection or audit under the PFRDA (Aggregator) Regulations, 2015?","The aggregator shall produce to the Authority or its authorized representative or auditor, such books, accounts, records, and other documents in its custody or control and furnish it or him with such statements and information relating to the activities entrusted to it by the Authority, as it may require, within such reasonable period as may be specified.",nps.pdf,357
1517,1517,Can the Authority inspect an aggregator without giving prior notice?,"Yes, provided that no notice shall be required if the Authority is satisfied that an inspection or audit is required for immediate safeguarding of the interest of the subscribers.",nps.pdf,179
1518,1518,"What happens after the completion of an inspection or audit under the PFRDA (Aggregator) Regulations, 2015?","On completion of the inspection or audit, a report shall be submitted to the Authority, which after consideration of the report, may take such action as it may deem fit and appropriate in the interest of the subscribers.",nps.pdf,220
1519,1519,Can the National Pension System Trust inspect an aggregator?,"Yes, the National Pension System Trust shall undertake directly or through its authorized representative, inspection or audit or both of the aggregator, on an annual basis or at such other period as may be specified by the Authority in relation to operational Service Level Agreements.",nps.pdf,285
1520,1520,Under what circumstances can the Authority cancel or suspend the certificate of registration of an aggregator?,"The Authority may cancel or suspend the certificate of registration of an aggregator if it fails to comply with any conditions subject to which a certificate of registration has been granted to it, contravenes any of the provisions of the Act or the rules or the regulations made or guidelines, notifications, directions, instructions or circulars issued by the Authority there under, etc.",nps.pdf,389
1521,1521,What is the procedure for surrendering a certificate of registration by an aggregator?,"An aggregator desirous of giving up its activity and surrendering the certificate of registration, may make a request for such surrender to the Authority, and the Authority may require the concerned aggregator to satisfy the Authority of such factors as it deems fit, including but not limited to the arrangements made by the aggregator for maintenance and preservation of records and other documents, redressal of subscriber grievances, etc.",nps.pdf,442
1522,1522,"What is the effect of suspension, cancellation or surrender of certificate of registration of an aggregator?","On and from the date of suspension or cancellation of the certificate, the concerned aggregator shall not undertake any assignment or collect money or information from the subscriber, allow its subscribers to transfer their money or assignments or allow the National Pension System Trust to withdraw any assignment given to it, etc.",nps.pdf,332
1523,1523,Can an aggregator be permitted to surrender its certificate in respect of which any action for default has been initiated or has been contemplated by the Authority?,"No, no aggregator shall be permitted to surrender its certificate, in respect of which any action for default has been initiated or has been contemplated by the Authority.",nps.pdf,171
1524,1524,Who is entitled to recover expenses incurred for the purposes of inspection or audit undertaken by it or through its authorized representative?,The Authority shall be entitled to recover from the aggregator such expenses incurred by it for the purposes of inspection or audit undertaken by it directly or through its authorized representative.,nps.pdf,199
1525,1525,What is the duty of an aggregator to give to the Authority or its authorized representative in connection with the inspection and audit?,It shall be the duty of the aggregator to give to the Authority or its authorized representative all assistance in connection with the inspection and audit which the Authority or its authorized representative may reasonably require.,nps.pdf,232
1526,1526,What are the obligations of an aggregator upon surrender or cancellation or suspension of its certificate of registration?,"The aggregator shall return the certificate of registration, cease to carry on any activity, transfer its activities to another aggregator, make provisions for liability incurred, and take other actions as required by the Authority.",nps.pdf,232
1527,1527,Under what circumstances may the Authority cancel or suspend the certificate of registration of an aggregator?,"The Authority may cancel or suspend the certificate of registration if the aggregator fails to comply with any condition of registration, contravenes any provision of the Act or regulations, or fails to comply with any direction or circular issued by the Authority.",nps.pdf,265
1528,1528,Who may be appointed as a designated authority to investigate alleged violations by an aggregator?,"An officer not below the rank of Chief General Manager or equivalent may be appointed as a designated authority, provided that no officer who has conducted an investigation or inspection in respect of the alleged violation shall be appointed.",nps.pdf,242
1529,1529,What is the procedure for issuing a notice to an aggregator or other concerned person requiring it to show cause why its certificate of registration should not be suspended or cancelled?,"The designated authority shall issue a notice specifying the contravention alleged to have been committed, annexing copies of documents relied on and extracts of relevant portions of documents, and requiring the noticee to submit a written representation within 21 days.",nps.pdf,270
1530,1530,What action may be taken by the designated authority if the noticee fails to reply to the show-cause notice within the specified time?,"The designated authority may proceed with the matter ex parte, recording reasons for doing so, and make recommendations based on material facts available.",nps.pdf,154
1531,1531,What are the possible actions that may be recommended by the designated authority after considering the representations of the noticee?,"The designated authority may recommend suspension of certificate of registration, cancellation of certificate of registration, prohibition on taking up new assignments, debarment of principal officers or branches, or warning the noticee.",nps.pdf,237
1532,1532,What is the procedure for taking action on the recommendations of the designated authority?,"The designated member shall consider the report and issue a show-cause notice to the noticee, who may submit a written representation within 21 days, and the designated member shall pass an order after considering the reply and providing an opportunity of being heard.",nps.pdf,268
1533,1533,How shall the order passed by the designated member be communicated to the aggregator or other concerned person?,A copy of the order shall be sent to the aggregator or other concerned person and placed on the website of the Authority.,nps.pdf,121
1534,1534,What is the procedure for imposing penalty on an aggregator or person concerned?,"The imposition of penalty shall be in accordance with the provisions of the Act and the Pension Fund Regulatory and Development Authority (Procedure for inquiry by adjudicating officer) Regulations, 2015.",nps.pdf,204
1535,1535,What is the remedy available to an aggregator or person concerned who is aggrieved by an order passed by the designated member?,The aggregator or person concerned may prefer an appeal before the Securities Appellate Tribunal under sub-section (1) of section 36 of the Act.,nps.pdf,144
1536,1536,What is the purpose of the directions issued by the Authority under Chapter V of the regulations?,The purpose of the directions is to secure the proper management of the aggregator and to protect the interests of the subscribers.,nps.pdf,131
1537,1537,What is the process for issuing directions by the Authority under Chapter V of the regulations?,"The Authority shall give the persons concerned a reasonable opportunity of being heard before issuing any directions, unless the circumstances warrant that an interim direction is required to be passed immediately, in which case the Authority shall give the persons concerned a reasonable opportunity of being heard after passing the direction without any undue delay.",nps.pdf,368
1538,1538,What is the purpose of the clarifications and guidelines issued by the Authority under regulation 42?,The purpose of the clarifications and guidelines is to remove any difficulties in the application or interpretation of the regulations.,nps.pdf,135
1539,1539,What is the format for submitting an application for registration as an aggregator under the National Pension System - Swavalamban for government entities?,"The application shall be submitted in the format specified in Schedule I, Form A, which includes a covering letter, aggregator compliance sheet, and annexures 1, 2, and 3.",nps.pdf,171
1540,1540,What is the purpose of the aggregator compliance sheet for government or government-sponsored agencies?,"The purpose of the aggregator compliance sheet is to provide details of the entity's existing customer base and services rendered, and to confirm that the entity is entitled to receive remuneration as specified by the Authority.",nps.pdf,228
1541,1541,What is the format for providing details of beneficiary groups and services rendered by an aggregator under the National Pension System - Swavalamban?,"The details shall be provided in the format specified in Annexure 1, which includes types of services provided to existing groups, details of potential subscribers or target groups, and National Pension System - Swavalamban subscriber base projections for the next five years.",nps.pdf,276
1542,1542,What is the purpose of the commercial undertaking provided by an aggregator under the National Pension System - Swavalamban?,"The purpose of the commercial undertaking is to confirm that the aggregator shall not charge any fees or service charges from subscribers for providing National Pension System - Swavalamban services, and that the aggregator shall only receive a fixed sum towards these services as specified by the Authority.",nps.pdf,308
1543,1543,What is the format for submitting an application for registration as an aggregator under the National Pension System - Swavalamban for non-government entities?,"The application shall be submitted in the format specified in Schedule II, Form B, which includes a covering letter, aggregator compliance sheet, and annexures 1 to 7.",nps.pdf,167
1544,1544,What is the purpose of the governance structure format provided by an aggregator under the National Pension System - Swavalamban?,"The purpose of the governance structure format is to provide details of the aggregator's governance structure, including the names and designations of key personnel, and the roles and responsibilities of each.",nps.pdf,209
1545,1545,What is the purpose of the business plan for National Pension System - Swavalamban provided by an aggregator?,"The purpose of the business plan is to provide details of the aggregator's plans for promoting and distributing National Pension System - Swavalamban products, including marketing strategies, sales projections, and revenue models.",nps.pdf,230
1546,1546,"What is the purpose of the PFRDA (Aggregator) Regulations, 2015?","The purpose of the PFRDA (Aggregator) Regulations, 2015 is to provide a framework for the registration and operation of aggregators under the National Pension System - Swavalamban.",nps.pdf,180
1547,1547,What is the eligibility criteria for an entity to be registered as an aggregator under the National Pension System - Swavalamban?,"The eligibility criteria for an entity to be registered as an aggregator under the National Pension System - Swavalamban includes being registered with a relevant authority, having a minimum net worth of Rs. 1 crore, having a formal governance structure, and having adequate technical infrastructure and manpower capacity.",nps.pdf,322
1548,1548,What is the role of an aggregator under the National Pension System - Swavalamban?,"The role of an aggregator under the National Pension System - Swavalamban is to provide specified services to potential subscribers, including facilitating the enrollment process, providing information and assistance to subscribers, and handling customer grievances.",nps.pdf,266
1549,1549,What are the requirements for an entity to be registered as an aggregator under the National Pension System - Swavalamban?,"The requirements for an entity to be registered as an aggregator under the National Pension System - Swavalamban include submitting an application in the prescribed format, providing necessary documents and information, and paying the prescribed fees.",nps.pdf,251
1550,1550,What is the significance of the Aggregator Compliance Sheet?,"The Aggregator Compliance Sheet is a document that requires the aggregator to provide information about its compliance with the regulations, including its registration status, net worth, governance structure, and technical infrastructure.",nps.pdf,238
1551,1551,What is the purpose of Annexure 1: Details of Customer Base and Services Rendered?,"The purpose of Annexure 1: Details of Customer Base and Services Rendered is to provide information about the aggregator's existing customer base and services rendered, including the types of services provided, customer count, and five-year projections for customer base and National Pension System - Swavalamban coverage.",nps.pdf,322
1552,1552,What is the significance of the Legal Undertaking in Annexure 2?,The Legal Undertaking in Annexure 2 is a declaration by the aggregator that it has not been imposed with any penalties or strictures by any court of law or regulatory body during the last five years.,nps.pdf,199
1553,1553,What is the purpose of the Commercial Undertaking in Annexure 3?,The purpose of the Commercial Undertaking in Annexure 3 is to confirm that the aggregator will not charge any fees or service charges from subscribers for providing National Pension System - Swavalamban services and will only receive a fixed sum towards these services as specified by the Authority.,nps.pdf,299
1554,1554,What is the significance of the Business Plan in Annexure 6?,The Business Plan in Annexure 6 is a document that requires the aggregator to submit a business plan outlining its strategy for providing National Pension System - Swavalamban services and achieving its targets.,nps.pdf,211
1555,1555,What is the purpose of seeking exemption/relaxation of any eligibility criteria in Annexure 7?,"The purpose of seeking exemption/relaxation of any eligibility criteria in Annexure 7 is to allow the aggregator to request exemption or relaxation from any of the eligibility criteria specified in the regulations, if applicable.",nps.pdf,229
1556,1556,"What is the format for providing governance structure as per PFRDA (Aggregator) Regulations, 2015?","The format for providing governance structure includes details of board structure, list of independent directors, monitoring mechanism, cash handling/monitoring mechanism, mechanism for detection/control of frauds, customer grievance redressal process, and any other relevant matter.",nps.pdf,283
1557,1557,"What is the undertaking required for technical and manpower capacity as per PFRDA (Aggregator) Regulations, 2015?","The undertaking requires that the institution has necessary technical and manpower capacity for providing National Pension System-Swavalamban services, including adequate IT infrastructure, necessary infrastructure and capability to demonstrate and electronically transmit National Pension System subscriber contribution and information, and capability to establish necessary back office systems, procedures and software.",nps.pdf,421
1558,1558,"What is the objective of the business plan for National Pension System-Swavalamban as per PFRDA (Aggregator) Regulations, 2015?","The objective of the business plan is to promote National Pension System-Swavalamban across various target groups/geographical areas, including description of target groups, promotion strategy, distribution strategy, persistency maintenance strategy, and special activities to be undertaken.",nps.pdf,291
1559,1559,"What is the format for seeking exemption/relaxation of any eligibility criteria as per PFRDA (Aggregator) Regulations, 2015?","The format for seeking exemption/relaxation of any eligibility criteria includes reference in regulation, extent of deviation, and brief reason for seeking exemption/relaxation.",nps.pdf,177
1560,1560,"What is the fee payable to the Pension Fund Regulatory and Development Authority by the aggregator as per PFRDA (Aggregator) Regulations, 2015?",The fee payable is an application fee of rupee ten thousand only in the form of DD drawn in favour of 'The Pension Fund Regulatory and Development Authority' and payable at New Delhi.,nps.pdf,183
1561,1561,"What is the certification of registration as an aggregator for National Pension System-Swavalamban as per PFRDA (Aggregator) Regulations, 2015?","The certification of registration is granted by the Pension Fund Regulatory and Development Authority, which includes the registration code for the aggregator, and is valid subject to conditions specified in the certificate of registration.",nps.pdf,240
1562,1562,"What is the renewal form for aggregator under National Pension System-Swavalamban as per PFRDA (Aggregator) Regulations, 2015?","The renewal form includes a covering letter, aggregator compliance sheet, annexure 1: legal undertaking, annexure 2: security deposit undertaking, and annexure 3: National Pension System-Swavalamban performance.",nps.pdf,211
1563,1563,"What is the aggregator compliance sheet as per PFRDA (Aggregator) Regulations, 2015?","The aggregator compliance sheet includes details of the entity's net worth, financial status, legal undertaking, and security deposit in the form of bank guarantee/fixed deposit/demand draft.",nps.pdf,191
1564,1564,"What is the legal undertaking required as per PFRDA (Aggregator) Regulations, 2015?","The legal undertaking requires that the entity has not incurred losses in at least 3 years of the past five years, and has not been convicted or restrained by any financial sector regulator or by the court of law in any of the preceding 5 years.",nps.pdf,245
1565,1565,"What is the security deposit required as per PFRDA (Aggregator) Regulations, 2015?","The security deposit is required in the form of bank guarantee/fixed deposit/demand draft from any scheduled bank, and is a prerequisite for registration as an aggregator.",nps.pdf,171
1566,1566,"What is the purpose of the Pension Fund Regulatory and Development Authority (PFRDA) (Aggregator) Regulations, 2015?","The purpose of the regulations is to set standards for the eligibility, governance, organization, and operational conduct of the Central Recordkeeping Agency and for providing centralized recordkeeping, administration, and customer service functions to all subscribers.",nps.pdf,269
1567,1567,"What is the definition of 'personal information' as per the PFRDA (Aggregator) Regulations, 2015?","Personal information means and includes any information that relates to a subscriber or allows a subscriber's identity to be inferred, directly or indirectly, and includes name and contact information, biometric information, information relating to transactions in, or holdings of, financial products, information relating to the use of financial services, or such other information as may be specified by regulations.",nps.pdf,418
1568,1568,What are the obligations of an Aggregator with respect to personal information of subscribers?,"An Aggregator shall not collect personal information relating to a subscriber in excess of what is required for the provision of a National Pension System, maintain the confidentiality of personal information and information relating to any transaction under National Pension System relating to subscribers, make best efforts to ensure that any personal information relating to a subscriber that it holds is accurate, up to date and complete, ensure that subscribers can obtain reasonable access to their personal information, and allow subscribers an effective opportunity to seek modifications to their personal information.",nps.pdf,626
1569,1569,Under what circumstances can a financial service provider disclose personal information relating to a subscriber to a third party?,"A financial service provider can disclose personal information relating to a subscriber to a third party only if it has obtained prior written informed consent of the subscriber for the disclosure, after giving the subscriber an effective opportunity to refuse consent, or if the subscriber has directed the disclosure to be made, or if the PFRDA has approved or ordered the disclosure, or if the disclosure is required under any law or regulations.",nps.pdf,449
1570,1570,"What is the definition of 'I-Pin' as per the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","I-Pin means the Personal Identification Number used to authenticate the subscriber to log in central recordkeeping agency, National Pension System Contributions Accounting Network system through internet.",nps.pdf,204
1572,1572,"What is the definition of 'National Pension System data' as per the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","National Pension System data shall include all proprietary data generated out of operation and transactions, documents and related information including but not restricted to subscriber data which central recordkeeping agency obtains, possesses or processes in the context of providing the services to the subscribers as specified in the regulations and the Service Level Agreement.",nps.pdf,382
1573,1573,"What is the definition of 'nodal office' as per the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","Nodal office means the offices which act as interface between the subscribers and the central recordkeeping agency and shall include the Government offices like Principal Accounts Officer, Directorate of Treasuries and Accounts, Pay and Accounts Officer, District Treasury Office, Drawing and Disbursing Office as well as point of presences and the service providers in the unorganized sector and the National Pension System -Lite Oversight Office and the National Pension System -Lite Accounting Office under the National Pension System -Swavalamban of the National Pension System.",nps.pdf,582
1574,1574,"What is the definition of 'Pay and Accounts Office' as per the PFRDA (Central Recordkeeping Agency) Regulations, 2015?",Pay and Accounts Office (P&AO) means the pay and accounts office under the Central and state government(s) or similar offices under the Government of India or State government(s) or Union Territories or Autonomous bodies responsible for maintaining the contribution details for subscribers covered under National Pension System.,nps.pdf,328
1575,1575,"What is the definition of 'PRAN' as per the PFRDA (Central Recordkeeping Agency) Regulations, 2015?",PRAN means the Permanent Retirement Account Number allotted as a unique identification number to each subscriber.,nps.pdf,113
1576,1576,"What is the definition of a 'whole time or executive director or managing director or Chief Executive Officer' under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?",A whole time or executive director or managing director or Chief Executive Officer is a person who is responsible for the overall management and direction of the central recordkeeping agency.,nps.pdf,191
1577,1577,"What is a 'Service Level Agreement' (SLA) under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","A Service Level Agreement (SLA) is an agreement that provides for quality and performance parameters, specified by the Authority, which the central recordkeeping agency is expected to execute with other intermediaries.",nps.pdf,218
1578,1578,"Who can apply for grant of a certificate of registration as a central recordkeeping agency under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?",Any applicant meeting the eligibility criteria specified in the regulations can apply for grant of a certificate of registration as a central recordkeeping agency.,nps.pdf,163
1579,1579,"What is the eligibility criteria for an applicant seeking to obtain a certificate of registration to act as a central recordkeeping agency under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","The eligibility criteria includes being a company formed and registered under the Companies Act, 1956 or the Companies Act, 2013, having made net profit in any three out of the last five financial years, and not having incurred cash loss during the preceding two years, among other criteria.",nps.pdf,291
1580,1580,"What is the purpose of a 'T-Pin' under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?",A T-Pin is a number used to authenticate the subscriber in the Interactive Voice Response (IVR) system.,nps.pdf,103
1581,1581,"How will the allocation of subscribers between the existing central recordkeeping agency and the other central recordkeeping agency or agencies be done under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?",The allocation of subscribers will be based on a transparent criteria and process as may be notified by the Authority from time to time having regard to the subscribers’ interest.,nps.pdf,179
1582,1582,"What is the application fee for an applicant seeking to obtain a certificate of registration as a central recordkeeping agency under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?",A non-refundable application fee of rupees ten lakh shall be paid by an applicant along with its application to the Authority payable at New Delhi.,nps.pdf,147
1583,1583,"Can an existing central recordkeeping agency continue to operate under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","Yes, the registration granted to existing central recordkeeping agency(s) prior to the notification of this amendment shall continue to remain valid and be in force for all purposes, for the original period so granted, along with any extension thereof.",nps.pdf,252
1584,1584,"What are the responsibilities of a central recordkeeping agency under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","A central recordkeeping agency shall at all times comply with the provisions of the Act or the rules or the regulations made or directions, circulars or guidelines issued by the Authority thereunder, and ensure compliance of the quality of subscriber service or services to other intermediaries.",nps.pdf,295
1585,1585,"What is the consequence of an existing central recordkeeping agency failing to make an application and comply with the provisions of the Act and the regulations under the PFRDA (Central Recordkeeping Agency) Regulations, 2015?","If an existing central recordkeeping agency fails to make an application and comply with the provisions of the Act and the regulations within six months from the date of commencement of these regulations, the existing appointment granted to it is liable to be cancelled.",nps.pdf,270