Alka Agrawal vs State Of Maharashtra

The Supreme Court examined whether the amounts invested by appellants fall within the definition of 'deposit' under Section 2(c) of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999. The appellants had invested funds based on assurances of high returns for a resort project, which raised the question of applicability of the Act. The High Court dismissed the revision application, and the Supreme Court granted leave to appeal to clarify the scope of 'deposit' under the statute. The judgment focused on the interpretation of the statutory definition and the nature of the transaction to determine protection under the Act.