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    Question

    Under the SARFAESI Act, 2002, what is the minimum

    percentage of "secured creditors" (by value) required to agree upon the exercise of rights for enforcement of security interest? 
    A 51% Correct Answer Incorrect Answer
    B 60% Correct Answer Incorrect Answer
    C 75% Correct Answer Incorrect Answer
    D 100% Correct Answer Incorrect Answer
    E 90% Correct Answer Incorrect Answer

    Solution

    According to Section 13(9) of the SARFAESI Act, 2002 , in the case of financing a financial asset by more than one secured creditor, no secured creditor shall be entitled to exercise any or all of the rights unless agreed upon by creditors representing not less than 60% in value.

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