Question

Under the SARFAESI Act, 2002, the "Secured Creditor"

Q: Answer-Under the SARFAESI Act, 2002, the 'Secured Creditor' refers to:

Section 2s of the SARFAESI Act, 2002, defines secured creditor as a creditor of a financial asset bank or HFC whose debt is secured by a mortgage, pledge, hypothecation, or other charge on the asset or property of the debtor. This contrasts with unsecured creditors who have no specific claim on assets. The Act empowers secured creditors to enforce their security without court intervention under Section 13.

refers to:

A Any person or entity to whom the bank owes a financial debt

B A bank or financial institution in whose favour a security interest is created

C A creditor of a cooperative society not registered as a bank

D An entity providing an unsecured personal loan to a borrower

E Only those banks that are listed in the First Schedule of the RBI Act

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Under the SARFAESI Act, 2002, the "Secured Creditor"

Solution