The application under Section 14(1) of the Banning of Unregulated Deposit Schemes Act, 2019 is for:
Section 14(1) requires the Competent Authority to apply to the Designated Court "for making the provisional attachment absolute" and for permission to sell the attached…
Choose your answer
The application under Section 14(1) of the Banning of Unregulated Deposit Schemes Act, 2019 is for:
Answer and explanation
Correct answer B
Section 14(1) requires the Competent Authority to apply to the Designated Court "for making the provisional attachment absolute" and for permission to sell the attached property. Cancellation is an order the Designated Court may pass under section 15(3)(c), not the object of the application.