Question

    Which Act provides the legal framework for asset

    reconstruction companies in India?
    A Banking Regulation Act Correct Answer Incorrect Answer
    B FEMA Correct Answer Incorrect Answer
    C SARFAESI Act Correct Answer Incorrect Answer
    D Insolvency and Bankruptcy Code Correct Answer Incorrect Answer
    E SEBI Act Correct Answer Incorrect Answer

    Solution

    The SARFAESI Act, 2002, allows banks and financial institutions to recover dues without court intervention and governs Asset Reconstruction Companies (ARCs).

    Practice Next

    Relevant for Exams: