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      Question

      Which type of creditors are completely excluded from

      using the SARFAESI Act?
      A Public Sector Banks Correct Answer Incorrect Answer
      B Private Sector Banks Correct Answer Incorrect Answer
      C Asset Reconstruction Companies Correct Answer Incorrect Answer
      D Operational/Trade Creditors Correct Answer Incorrect Answer
      E Scheduled Commercial Banks Correct Answer Incorrect Answer

      Solution

      Only banks, financial institutions, and ARCs can use SARFAESI; ordinary individuals or trade/operational creditors cannot use it.

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