Under Section 22 of the Banning of Unregulated Deposit Schemes Act, 2019, the higher amount between…
Under section 22 of the BUDS Act, the fine is twenty-five crore rupees or three times the profits from the fraudulent default, whichever is higher, not whichever is lower,…
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Under Section 22 of the Banning of Unregulated Deposit Schemes Act, 2019, the higher amount between statutory maximum and profits multiplier shall apply based on:
Answer and explanation
Correct answer B
Under section 22 of the BUDS Act, the fine is twenty-five crore rupees or three times the profits from the fraudulent default, whichever is higher, not whichever is lower, purely discretionary, or based on depositor preference.