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Scheme of the Act: s.2(c) & s. 2(d)
Before analyzing the provisions of the MPID Act, it is utmost important to understand what, when and how does the MPID Act come into existence in a given case. In order to understand what, when and how provisions of the MPID Act are invoked, let us take a pilot case. For example: If ‘X’ accepted deposits from various persons being A, B & C for the sale of their respective units on the assurance of delivery of flats on time, and failed to do so in spite of repeated reminders a
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