Section 5: Default in repayment of deposits and interest honouring the commitment

Q: What does Section 5 of The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 (TNPID) deal with?

Section 5 TNPID pertains to "Default in repayment of deposits and interest honouring the commitment". It is part of the The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997, a legislation enacted by the Parliament of India. Section 5 of The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 (TNPID) governs default in repayment of deposits and interest honouring the commitment. As verified on 19 May 2026.

Q: Is Section 5 TNPID still in force?

Yes, Section 5 of the The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 is currently in force across the Republic of India.

Q: What is धारा 5 TNPID?

धारा 5 TNPID is the Devanagari Hindi reference for Section 5 of the The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997. Section 5 of The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 (TNPID) governs default in repayment of deposits and interest honouring the commitment. As verified on 19 May 2026.

Q: What is Dhara 5 TNPID?

Dhara 5 TNPID is the Roman Hindi reference for Section 5 of the The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997. "Dhara" means "Section" in Hindi. Section 5 of The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 (TNPID) governs default in repayment of deposits and interest honouring the commitment. As verified on 19 May 2026.

Q: How to cite Section 5 of The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997?

Cite as: "Section 5, The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 (TNPID)" in legal briefs. For academic writing, use the BlueBook format: The Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997, § 5 (India).

Law on Tips Editorial Board

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