Question
Under the SARFAESI Act, what is the maximum period
within which an Asset Reconstruction Company (ARC) is required to resolve an NPA after acquiring it?Solution
Under the SARFAESI Act, 2002 , Asset Reconstruction Companies (ARCs) are mandated to resolve Non-Performing Assets (NPAs) that they acquire within a maximum period of 8 years . The purpose of this provision is to ensure that ARCs focus on the timely resolution of distressed assets and recover the maximum value for the banks that have sold their NPAs. The 8-year period includes the time for restructuring or recovery of the asset, ensuring that the asset is not left unresolved for an extended period. After acquiring the NPA, the ARC works on the restructuring of the debt , selling the assets , or legal actions to recover the funds. If the resolution is not achieved within 8 years, the ARC is expected to liquidate the asset to recover at least part of the investment made.
The Union Government has launched new scheme for protection of Majuli Island in Assam from flood and erosion.
Choose the word correct synonym:
Regulate
Choose the incorrectly spelt word.
Abjure
Select the most appropiate ANTONYM of the given word.
HUMANE
- Choose the alternative which is closest to the opposite in meaning of the bold word in the sentence.
Despite the team's efforts, their progress rem... Select the most appropriate ANTONYM of the given word.
Consent
The old mansion had a quaint charm.
- Choose a word that is similar in meaning to the given word.
Candid In each question below, four words printed in bold type are given. These are numbered (A), (B), (C) and (D). One these words printed in bold might eit...
