New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A owes Rs 60,000 to B. Before clearing his liability, A

    dies leaving behind an estate worth Rs 40,000. In this case, A’s legal representatives are liable for
    A Rs 20,000 Correct Answer Incorrect Answer
    B Rs 40,000 Correct Answer Incorrect Answer
    C Rs 60,000 Correct Answer Incorrect Answer
    D Rs 1,00,000 Correct Answer Incorrect Answer

    Solution

    As per S. 28 B of SEBI Act 1992. Continuance of Proceedings (4) The liability of a legal representative under this section shall be limited to the extent to which the estate of the deceased is capable of meeting the liability.

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