Under the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may release property…
Under section 15(4)(a) of the BUDS Act, the Designated Court may release property only if satisfied the deposit taker or the person concerned has an interest in that…
Choose your answer
Under the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may release property only if satisfied that:
Answer and explanation
Correct answer B
Under section 15(4)(a) of the BUDS Act, the Designated Court may release property only if satisfied the deposit taker or the person concerned has an interest in that property, not that the deposit taker has no connection, the property belongs to Government, or depositors consent.