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    Question

    Which of the following acts gave birth to the Asset

    Reconstruction Company?
    A Banking regulation act 1949 Correct Answer Incorrect Answer
    B SEBI Act 1992 Correct Answer Incorrect Answer
    C Companies Act 2013 Correct Answer Incorrect Answer
    D Recovery of Debts due to banks and financial institutions act, 1993 Correct Answer Incorrect Answer
    E SARFAESI Act 2002 Correct Answer Incorrect Answer

    Solution

    Asset Reconstruction Company (Securitization Company/Reconstruction Company) is a company registered under Section 3 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SRFAESI) Act, 2002. It is regulated by Reserve Bank of India as an Non Banking Financial Company (u/s 451 (f) (iii) of RBI Act, 1934).

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