Under Section 16(2) of the Banning of Unregulated Deposit Schemes Act, 2019, attachment may be ordered…
Section 16(2) lets the Designated Court order attachment where the transferee "does not appear and show cause" on the specified date, or where it is satisfied that the…
Choose your answer
Under Section 16(2) of the Banning of Unregulated Deposit Schemes Act, 2019, attachment may be ordered where the transferee:
Answer and explanation
Correct answer B
Section 16(2) lets the Designated Court order attachment where the transferee "does not appear and show cause" on the specified date, or where it is satisfied that the transfer was not bona fide and not for commensurate consideration. A transferee who proves a full-value transfer in good faith escapes attachment.