Under the Banning of Unregulated Deposit Schemes Act, 2019, the Competent Authority may refer the…
Section 30(1)(a) supplies the location requirement: the relevant depositors, deposit takers or properties are spread over more than one State or Union territory, or outside…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, the Competent Authority may refer the matter for CBI investigation when depositors, deposit takers or properties are located:
Answer and explanation
Correct answer B
Section 30(1)(a) supplies the location requirement: the relevant depositors, deposit takers or properties are spread over more than one State or Union territory, or outside India. Subsection (1)(b) additionally requires an amount of such magnitude as significantly to affect public interest. On the requisite belief about both conditions, referral to the Central Government is mandatory.