Under Section 13(1) of the Banning of Unregulated Deposit Schemes Act, 2019, an order of provisional…
Section 13(1) gives provisional attachment precedence over other attachments for the listed Government and local-authority dues, to the extent of depositors' claims. Its…
Choose your answer
Under Section 13(1) of the Banning of Unregulated Deposit Schemes Act, 2019, an order of provisional attachment passed by the Competent Authority shall have:
Answer and explanation
Correct answer C
Section 13(1) gives provisional attachment precedence over other attachments for the listed Government and local-authority dues, to the extent of depositors' claims. Its opening saving preserves contrary provision in SARFAESI or the Insolvency and Bankruptcy Code. This is not an unconditional priority over every type of attachment.