The liability under Section 25 of the Banning of Unregulated Deposit Schemes Act, 2019 arises in…
Section 25 applies where an offence under the Act has been committed by "a deposit taker other than an individual", such as a company, firm or trust, and fixes liability on…
Choose your answer
The liability under Section 25 of the Banning of Unregulated Deposit Schemes Act, 2019 arises in relation to offences committed by:
Answer and explanation
Correct answer B
Section 25 applies where an offence under the Act has been committed by "a deposit taker other than an individual", such as a company, firm or trust, and fixes liability on those in charge of its business. An individual deposit taker is simply liable for his own offence.