Under Section 16(1) of the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may…
Section 16(1) applies where the Designated Court believes the deposit taker transferred property "otherwise than in good faith and not for commensurate consideration". Both…
Choose your answer
Under Section 16(1) of the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may act when it believes that the deposit taker transferred property:
Answer and explanation
Correct answer C
Section 16(1) applies where the Designated Court believes the deposit taker transferred property "otherwise than in good faith and not for commensurate consideration". Both conditions must be met, so a good-faith sale at a low price or a full-value transfer in bad faith does not qualify.