Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received by a limited liability…
BUDS s.2(4)(e) excludes capital contributed by partners of a partnership firm or a limited liability partnership from deposit, as such capital is not received with a promise…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received by a limited liability partnership from partners towards capital are:
Answer and explanation
Correct answer B
BUDS s.2(4)(e) excludes capital contributed by partners of a partnership firm or a limited liability partnership from deposit, as such capital is not received with a promise of repayment.