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      Question

      Under the SARFAESI Act, which of the following is a

      right available to the secured creditor to recover a loan?
      A To appoint a receiver and take possession of the borrower’s assets Correct Answer Incorrect Answer
      B To file a civil suit in the court of law Correct Answer Incorrect Answer
      C To seize the borrower’s personal property directly Correct Answer Incorrect Answer
      D To write off the entire loan balance Correct Answer Incorrect Answer
      E To claim the borrower’s assets through bankruptcy proceedings Correct Answer Incorrect Answer

      Solution

      Under the SARFAESI Act, a secured creditor has the right to appoint a receiver and take possession of the borrower’s assets without going to court, provided certain conditions are met.

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