Before provisional attachment under Section 7(3) of the Banning of Unregulated Deposit Schemes Act,…
Section 7(3) of the BUDS Act requires the Competent Authority to record in writing the reason for its belief before ordering provisional attachment, not to obtain High Court…
Choose your answer
Before provisional attachment under Section 7(3) of the Banning of Unregulated Deposit Schemes Act, 2019, the Competent Authority must:
Answer and explanation
Correct answer B
Section 7(3) of the BUDS Act requires the Competent Authority to record in writing the reason for its belief before ordering provisional attachment, not to obtain High Court permission, consult Parliament or issue only a public notice.