Under Section 22 of the Banning of Unregulated Deposit Schemes Act, 2019, the fine may extend to:
Section 22 punishes fraudulent default under section 4 with imprisonment and a fine that may extend to "three times the amount of profits made out of the fraudulent…
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Under Section 22 of the Banning of Unregulated Deposit Schemes Act, 2019, the fine may extend to:
Answer and explanation
Correct answer A
Section 22 punishes fraudulent default under section 4 with imprisonment and a fine that may extend to "three times the amount of profits made out of the fraudulent default". Twice the aggregate funds collected is the measure in section 21(3) for Unregulated Deposit Schemes.