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Kerala Banning of Unregulated Deposit Schemes Rules, 2021

8. Authorization for search and seizure.-

For the purpose of an investigation into any offence under the Act, the officer in charge of a Police Station may, with the authorization in Form 5, search for the following records namely:-

(a) any record, whether physical or electronic, which is used, intended to be used, or suspected to be used, in connection with the promotion or operation of an Unregulated Deposit Scheme;

(b) any books of account maintained in connection with an Unregulated Deposit Scheme;

(c) any deposits acquired or suspected to be acquired in connection with the promotion or operation of an Unregulated Deposit Scheme;

(d) any valuable securities maintained or suspected to be maintained in connection with the promotion or operation of an Unregulated Deposit Scheme;

(e) record of any property, whether movable or immovable, acquired either in the name of the deposit taker or in the name of any other person on behalf of the deposit taker, which is suspected to be acquired in connection with an Unregulated Deposit Scheme;

(f) record of any account with a bank, financial institution, society, body or similar nature market establishment, which is suspected to be used in connection with an Unregulated Deposit Scheme;

(g) any other thing which is suspected to be used in connection with an Unregulated Deposit Scheme.





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