PROVISIONS OF THE BANNING OF UNREGULATED DEPOSITS SCHEME ACT, 2019 TO BE CHALLENGED BEFORE THE KARNATAKA HIGH COURT A petition filed by Soumya Muraleedharan (Soumya Muraleedharan v UOI & amp; Ors) has been filed before the Karnataka HC that challenges certain provisions of the BUDS Act as unconstitutional. The petitioner in her arguments has specifically focused on Section 1(3) and Section 25(3)(b) and has stated that the former gives retrospective effect to the BUDS Act and violates Article 20(1) of the Constitution as she was penalized for acts done prior to the passing of this legislation and the latter is worded in a vague an arbitrary manner which makes no distinction between the sentence/penalty when an employee violating with an intention to do so and an employee violating due to his negligence which makes it violative of Articles 14, 19 and 21 of the Constitution. Reddy and Reddy Law firm consists of a team of skilled lawyers ready to assist you in matters relating to the corporate and commercial field.