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      Question

      Under SARFAESI Act, 2002, a secured creditor can take

      possession of the asset if the borrower defaults and the dues are not paid for how many days after the notice?
      A 30 days Correct Answer Incorrect Answer
      B 60 days Correct Answer Incorrect Answer
      C 90 days Correct Answer Incorrect Answer
      D 45 days Correct Answer Incorrect Answer
      E 120 days Correct Answer Incorrect Answer

      Solution

      As per Section 13(2) of SARFAESI Act, the borrower is given 60 days to repay the dues after notice.

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