Question
Who shall assist the secured creditor in taking
possession of secured asset?Solution
Section 14 SARFAESI Act Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset.—(1) Where the possession of any secured assets is required to be taken by the secured creditor or if any of the secured assets is required to be sold or transferred by the secured creditor under the provisions of this Act, the secured creditor may, for the purpose of taking possession or control of any such secured assets, request, in writing, the Chief Metropolitan Magistrate or the District Magistrate within whose jurisdiction any such secured asset or other documents relating thereto may be situated or found, to take possession thereof, and the Chief Metropolitan Magistrate or as the case may be, the District Magistrate shall, on such request being made to him— (a) take possession of such asset and documents relating thereto; and (b) forward such asset and documents to the secured creditor
- Which article of the Indian Constitution makes the Right to Property a legal right?
Which of the following pairs is correctly matched?
The sequence of folding a piece of paper and the manner in which the folded paper has been cut is shown below. Choose a figure which would most closely ...
Which country hosted the 3rd Summit for Democracy?
Which coalfield in Jharkhand has been identified as having high potential for coal bed methane generation?
Who has recently unveiled its ambitious plan to build the first lunar railway system?
- Which of the following crops is cultivated during the monsoon (Kharif) season?
'Mycorrhiza' is a symbiotic association between:
Who is awarded PETA India’s person of the year 2022?
Who is the guest country for the World Book Fair 2024?