Under the Banning of Unregulated Deposit Schemes Act, 2019, while varying or cancelling attachment, the…
When varying or cancelling an attachment, the Designated Court must ensure that property of enough value stays attached for "repayment to the depositors". Government taxes…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, while varying or cancelling attachment, the Court must ensure:
Answer and explanation
Correct answer B
When varying or cancelling an attachment, the Designated Court must ensure that property of enough value stays attached for "repayment to the depositors". Government taxes do not come first, since section 12 gives depositors priority.