Under Section 25(2) of the Banning of Unregulated Deposit Schemes Act, 2019, a person may avoid…
Section 25(2) lets a person escape liability if he proves that the offence was committed "without his knowledge" or that he exercised all due diligence to prevent it. Later…
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Under Section 25(2) of the Banning of Unregulated Deposit Schemes Act, 2019, a person may avoid liability if he proves:
Answer and explanation
Correct answer B
Section 25(2) lets a person escape liability if he proves that the offence was committed "without his knowledge" or that he exercised all due diligence to prevent it. Later resignation or repayment of depositors does not undo liability for an offence already committed.