To streamline the functioning of asset reconstruction companies (ARCs), a Reserve Bank panel has come out with a host of suggestions including the creation of an online platform for the sale of stressed assets and allowing ARCs to act as resolution applicants during the IBC process. To improve the performance of ARCs, the RBI had appointed the committee to examine the issues and recommend measures for enabling ARCs to meet the growing requirements of the financial sector. The committee, headed by former RBI Executive Director Sudarshan Sen, suggested that the scope of Section 5 of the SARFAESI Act be expanded to permit ARCs to acquire financial assets from all regulated entities, including AIFs, FPIs, AMCs making investment on behalf of MFs and all NBFCs including HFCs. For accounts above ₹500 crore, two bank-approved external valuers should carry out a valuation to determine liquidation value and fair market value. “Also, the final approval of the reserve price should be given by a high-level committee that has the power to approve the corresponding write-off of the loan,”.
For a witness to be examined residing in Jurisdiction of a court situated outside India____________.
Institution of suits is provided under which section of CPC?
As per the Prevention of Money-Laundering Act, 2002 whoever commits the offence of money-laundering shall be punishable with _________________
Who regulates Commodities market in India?
Court fees Act defines fees on document filed, etc. in mufassil courts or in public Office under:
As per the Indian Evidence Act the Court may presume that a man who is in possession of stolen goods soon after the theft_________________
The State shall provide free and compulsory education to all children of the age of ___________________ in such manner as the State may, by law, determine
Rejection of evidence is:
Section 25-A making provision for Directorate of Prosecution in states was inserted in Code of Criminal Procedure, 1973 vide ______.
According to the Depositories Act no depository shall act as a depository unless it obtains a certificate of commencement of business from the__________...