Under the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may order attachment…
Section 16(2) permits attachment if the Designated Court is satisfied that the transfer was "not bona fide and not for commensurate consideration". Both defects must exist;…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, the Designated Court may order attachment if satisfied that the transfer was:
Answer and explanation
Correct answer C
Section 16(2) permits attachment if the Designated Court is satisfied that the transfer was "not bona fide and not for commensurate consideration". Both defects must exist; a bona fide transfer at a low price, or a full-price one made in bad faith, is not enough.