Start learning 50% faster. Sign in now
In case the borrower fails to discharge his liability in full within the period specified in section 13 (2), the secured creditor may take recourse to one or more of the following measures to recover his secured debt, namely:— (a) take possession of the secured assets of the borrower including the right to transfer by way of lease, assignment or sale for realising the secured asset; (b) take over the management of the business of the borrower including the right to transfer by way of lease, assignment or sale for realising the secured asset: Provided that the right to transfer by way of lease, assignment or sale shall be exercised only where the substantial part of the business of the borrower is held as security for the debt: Provided further that where the management of whole of the business or part of the business is severable, the secured creditor shall take over the management of such business of the borrower which is relatable to the security for the debt;] (c) appoint any person (hereafter referred to as the manager), to manage the secured assets the possession of which has been taken over by the secured creditor; (d) require at any time by notice in writing, any person who has acquired any of the secured assets from the borrower and from whom any money is due or may become due to the borrower, to pay the secured creditor, so much of the money as is sufficient to pay the secured debt.
A wire is bent to form a square whose sides are of 132 cm. If the same wire is bent to form a circle, then find the area (in cm2) of the circ...
A field is 125m long and 15m wide. A tank 10m ×7.5m×6m was dug in it and the earth thus dug out was spread equally on the remaining field. The level o...
A rectangular lawn is 60 meters X 50 meters and has two roads, each 2 meters wide, in the middle of it, one parallel to its length and the other paralle...
Perimeter of a square field is 160 meters and the area of a rectangular field is 40% more than that of the square field. Find the area (in m2...
What is the difference between (in m2) the area of a circular field of radius 14 metres and area of a rectangular piece of land having its di...
When the breadth of a rectangle is reduced by 4cm (keeping the length constant), its area reduces by 72 cm2 and when the length is reduced by...
A rectangular reservoir of 2800 m3 capacity has length and height equal to 10 m and 40 m respectively. if 420 m3 of water i...
The volume of water measured on a rectangular field 400m 200m is 8000 . Find the depth (amount) of rain that has fallen.
Perimeter of a square and circumference of a circle are in the ratio 15:11, respectively. If area of the square is 225 cm2, then find the rad...