Under Section 15(4) of the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court shall…
Under section 15(4)(a) and (b) of the BUDS Act, the Designated Court shall not release property from attachment unless satisfied that the deposit taker or the concerned…
Choose your answer
Under Section 15(4) of the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court shall not release property from attachment unless:
Answer and explanation
Correct answer C
Under section 15(4)(a) and (b) of the BUDS Act, the Designated Court shall not release property from attachment unless satisfied that the deposit taker or the concerned person has an interest in it and that sufficient property remains for repayment to depositors, so both conditions must be met.