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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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