The Explanation to Section 10 of the Banning of Unregulated Deposit Schemes Act, 2019 clarifies that…
Clause (b) of the Explanation to section 10 makes the intimation requirement apply also to a company accepting deposits under "Chapter V of the Companies Act, 2013". Banking…
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The Explanation to Section 10 of the Banning of Unregulated Deposit Schemes Act, 2019 clarifies that the requirement of intimation applies to:
Answer and explanation
Correct answer A
Clause (b) of the Explanation to section 10 makes the intimation requirement apply also to a company accepting deposits under "Chapter V of the Companies Act, 2013". Banking companies and insurers are not brought in by it.