Sale proceeds realised under Section 18(1)(c) of the Banning of Unregulated Deposit Schemes Act, 2019…
Section 18(1)(c) of the BUDS Act requires sale proceeds to be credited to the Competent Authority's bank account, the same account opened under section 13(3), not Government…
Choose your answer
Sale proceeds realised under Section 18(1)(c) of the Banning of Unregulated Deposit Schemes Act, 2019 shall be credited to:
Answer and explanation
Correct answer C
Section 18(1)(c) of the BUDS Act requires sale proceeds to be credited to the Competent Authority's bank account, the same account opened under section 13(3), not Government treasury, the deposit taker's personal account, or a High Court account.