Under section 14(1) of the Banning of Unregulated Deposit Schemes Act, 2019, within what period from…
Section 14(1) sets an ordinary thirty-day period from provisional attachment for the confirmation-and-sale application. It expressly permits extension up to sixty days for…
Choose your answer
Under section 14(1) of the Banning of Unregulated Deposit Schemes Act, 2019, within what period from provisional attachment must the Competent Authority apply to the Designated Court for confirmation of attachment and permission to sell the attached property?
Answer and explanation
Correct answer B
Section 14(1) sets an ordinary thirty-day period from provisional attachment for the confirmation-and-sale application. It expressly permits extension up to sixty days for reasons recorded in writing; a bare thirty-day statement should not conceal that qualification.