State Act

THE DELHI PROTECTION OF INTERESTS OF DEPOSITORS (IN FINANCIAL ESTABLISHMENTS) ACT, 2001

10. (1) For the purpose of this Act, the Government may, with the concurrence of the Chief Justice of the Delhi High Court, by notification in the official Gazette, constitute one or-more Designated Courts in the Cadre of District and Sessions Judge including Additional District and Sessions Judge for such area or areas or for such cases or group of cases, as may be specified in the notification. (2) No Court including the Court constituted under the Presidency Towns Insolvency Act, 1909 (3 of 1909) and the Provincial Insolvency Act, 1920 (5 of 1920), other than the Designated Court shall have jurisdiction in respect of any matter to which the provisions of this Act is invoked. (3) Any pending case in any other court in respect of which the provisions of this Act is invoked, shall stand transferred to the Designated Courts from the date of notification issued under subsection (2) of section 4 of this Act.