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UNREGULATED DEPOSIT
what is meant by no ban on funds received for business purposes?
Replies (2)
Banning of Unregulated Deposit Ordinance-2019, exempts Individual, Firm, Companies & LLP etc. for taking any loan and deposit for their course of business as per section 2(4) e,f,l and other provisions.
The Banning of Unregulated Deposit Ordinance puts a check only on illicit deposit schemes that dupes gullible investors but it does not prohibit those regulated by law like chit funds.
which kind of offences come under this ordinance ?
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