The maximum fine under Section 22 of the Banning of Unregulated Deposit Schemes Act, 2019 may extend to:
Under section 22 of the BUDS Act, the fine may extend to twenty-five crore rupees, or three times the profits from the fraudulent default, whichever is higher, not ten,…
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The maximum fine under Section 22 of the Banning of Unregulated Deposit Schemes Act, 2019 may extend to:
Answer and explanation
Correct answer C
Under section 22 of the BUDS Act, the fine may extend to twenty-five crore rupees, or three times the profits from the fraudulent default, whichever is higher, not ten, twenty or fifty crore rupees as the stated ceiling.