Under Section 16(1) of the Banning of Unregulated Deposit Schemes Act, 2019, the transferee may be…
Section 16(1) calls on the transferee to show cause why property "equivalent in value" to the property transferred should not be attached. Only an equal value is at stake,…
Choose your answer
Under Section 16(1) of the Banning of Unregulated Deposit Schemes Act, 2019, the transferee may be required to show cause why:
Answer and explanation
Correct answer B
Section 16(1) calls on the transferee to show cause why property "equivalent in value" to the property transferred should not be attached. Only an equal value is at stake, not his whole property, and the notice is not a step in prosecution.