Restriction on cash transactions: recipients must accept loans or deposits only by account-payee cheque, bank draft or prescribed electronic modes. Section 269SS prohibits a recipient from accepting any loan, deposit or specified sum from another person except by an account-payee cheque, account-payee bank draft, electronic clearing system through a bank account, or other electronic mode prescribed under the applicable rule.
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Provisions expressly mentioned in the judgment/order text.
Restriction on cash transactions: recipients must accept loans or deposits only by account-payee cheque, bank draft or prescribed electronic modes.
Section 269SS prohibits a recipient from accepting any loan, deposit or specified sum from another person except by an account-payee cheque, account-payee bank draft, electronic clearing system through a bank account, or other electronic mode prescribed under the applicable rule.
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