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Question

What does the term "asset reconstruction" refer to?

A Reallocation of assets within a bank or financial institution Correct Answer Incorrect Answer
B Realization of financial assistance by a bank or financial institution Correct Answer Incorrect Answer
C Transfer of assets from an asset reconstruction company to a bank or financial institution Correct Answer Incorrect Answer
D Acquisition of assets by a bank or financial institution from an asset reconstruction company Correct Answer Incorrect Answer
E Acquisition by an asset reconstruction company of any right or interest of a bank or financial institution in financial assistance for realization purposes Correct Answer Incorrect Answer

Solution

SARFAESI Act Section 2 (b) “asset reconstruction” means acquisition by any asset reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realisation of such financial assistance.

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