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    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).

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