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      Question

      According to the SARFAESI Act, what does "asset

      reconstruction company" mean?
      A A company registered with SEBI for the securitization of assets Correct Answer Incorrect Answer
      B A company that directly manages non-performing assets for banks Correct Answer Incorrect Answer
      C A company created by the government solely for debt recovery purposes Correct Answer Incorrect Answer
      D A company registered with the Reserve Bank of India under Section 3 to carry out the business of asset reconstruction or securitization, or both Correct Answer Incorrect Answer

      Solution

      Explanation:  Section 2 (ba) asset reconstruction company means a company registered with Reserve Bank under section 3 for the purposes of carrying on the business of asset reconstruction or securitisation, or both.

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