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    Question

    What does property mean as per section 2(jb) of the

    Recovery of Debts Due to Banks and Financial Institutions Act, 1993?
    A Movable property Correct Answer Incorrect Answer
    B Intangible assets Correct Answer Incorrect Answer
    C Immovable property Correct Answer Incorrect Answer
    D All a b & c Correct Answer Incorrect Answer
    E Both a & c Correct Answer Incorrect Answer

    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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