Question
What does property mean as per section 2(jb) of the
Recovery of Debts Due to Banks and Financial Institutions Act, 1993?Solution
Property means immovable property; movable property; any debt or any right to receive payment of money, whether secured or unsecured; receivables, whether existing or future; intangible assets, being know-how, patent, copyright, trade mark, licence, franchise or any other business or commercial right of similar nature, as may be prescribed by the Central Government in consultation with Reserve Bank.
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