Question

Under Section 2(jb), the definition of 'property' under the RDB Act includes which of the following?

Q: Answer-Under Section 2(jb), the definition of 'property' under the RDB Act includes which of the following?

Section 2jb, inserted by the 2016 Amendment, defines property comprehensively to mean a immovable property b movable property c any debt or right to receive payment of money, whether secured or unsecured d receivables, whether existing or future and e 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 the Reserve Bank. This wide definition ensures that the Recovery Officer can attach and realise all categories of assets - not just land and buildings - for satisfying a recovery certificate.

A Immovable property, movable property, debts or right to receive payment, receivables (existing or future), and intangible assets such as patents, copyrights, trademarks, licences, and franchises

B Only immovable and movable property

C Only property over which a mortgage or charge is created

D Only tangible assets listed in the company's balance sheet

E Only property located within the territorial jurisdiction of the Tribunal

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