Section 21 of BUDS Act : Section 21: Punishment For Contravention Of Section 3

BUDS Act

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Explanation using Example

Imagine a company, QuickReturns Ltd., that advertises a new investment scheme promising exceptionally high returns within a short period. They claim that the investment is for a revolutionary technology project. This entices many individuals to invest their savings. However, QuickReturns Ltd. has not registered this scheme with any regulatory authority, making it an unregulated deposit scheme as per the law.

Under Section 21 of The Banning of Unregulated Deposit Schemes Act, 201...

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