Under the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may issue notice to:
Section 16(1) allows notice to "any transferee" of such property, whether or not he received it directly from the deposit taker. Remote transferees down the chain can…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may issue notice to:
Answer and explanation
Correct answer B
Section 16(1) allows notice to "any transferee" of such property, whether or not he received it directly from the deposit taker. Remote transferees down the chain can therefore be reached, not only the first recipient or the deposit taker's relatives.