Before passing an order under Section 18(2) of the Banning of Unregulated Deposit Schemes Act, 2019,…
Section 18(2) requires the Designated Court to act after giving the Competent Authority "an opportunity of being heard". The Act does not require it to hear every depositor…
Choose your answer
Before passing an order under Section 18(2) of the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court shall:
Answer and explanation
Correct answer B
Section 18(2) requires the Designated Court to act after giving the Competent Authority "an opportunity of being heard". The Act does not require it to hear every depositor or obtain any Government or Reserve Bank approval first.