Question

In the context of secured lending, the Right of Lien

Q: Answer-In the context of secured lending, the Right of Lien allows a bank to:

Lien is the right to retain goodsproperty until a debt is discharged. Governed under Indian Contract Act, 1872, it doesnt allow selling unless it is a particular lien. So c is correct.

allows a bank to:

A Sell a borrower’s asset without notice

B Transfer the asset ownership

C Retain possession until dues are cleared

D Demand repayment without any agreement

E Apply SARFAESI provisions

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In the context of secured lending, the Right of Lien

Solution