Section Section 45
1; Or (ii) if his or its principal business is that of receiving of
section 45-1; Or (ii) if his or its principal business is that of receiving of deposits under any scheme or arrangement Or in any other manner or lending in any manner: Provided that nothing contained in this sub-section shall apply to the receipt of money by an individual by way of loan from any of his relatives or to the receipt of money by firm by way of loan from the relative or relatives of any of the partners (2) Where any person referred to in sub-section (Z) holds any deposit on the lst day of April, 1997 which is not in accordance with sub-section (/), such deposit shall be repaid by that person immediately after such deposit becomes due for repayment or within three years from the date of such commencement whichever is earlier: Provided that if the Bank is satisfied on an application made by any person to the Bank that such person is unable to repay part of the deposits for reasons beyond his control Or such repayment shall cause extreme hardship to him, it may, by an order in writing, extend such period by period not exceeding one year subject to such conditions as may be specified in the order. (3) on and from the date of Ist day of April, 1997, no person referred to in sub-section (1) shall issue or cause to be issued any advertisement in any form for soliciting deposit: Explanation.-For the purposes of this section, a person shall be deemed to be a relative of another if, and only if, they are members of a Hindu undivided family; O (ii) they are husband and wife; o (iii) the one is related to the other in the manner indicated in the List of Relatives below: List of Relatives 1 . Father; 2. Mother (including step-mother), 3.Son (including stepson), 4. Son' s wife, 5 . Daughter (including step-daughter) , 6. Father' $ father; 7. Father' $ mother 8_ Mother' s mother; 9_ Mother father; 10. Son's son, 11. Son'$ son S wife, 12. Son s Daughter 13. Son's Daughter' s husband, 14. Daughter' s husband, 15 . Daughter' s son_ 16. Daughter' $ son wife, 17. Daughter' $ daughter, 18. Daughter' $ daughter husband. 19. Brother (including step-brother), 20. Brother's wife, 21. Sister (including step-sister) , 22. Sister' s husband]. 45T. Power to issue search warrants 1) Any court having jurisdiction to issue a search warrant under the Code of Criminal Procedure, 1973 (2 of 1974), may, on an application by an officer of the bank O1 of the State Government authorised in this behalf stating his belief that certain documents relating to acceptance of deposits in contravention of the provisions of
Roop's Law Assist