Question
Which section of SARFAESI Act provides for registration
of asset reconstruction company?Solution
Section 3 - Registration of asset reconstruction companies— (1) No asset reconstruction company shall commence or carry on the business of securitisation or asset reconstruction without— (a) obtaining a certificate of registration granted under this section; and (b) having net owned fund of not less than two crore rupees or such other higher amount as the Reserve Bank, may, by notification, specify.
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