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    Question

    Under Section 17 of the SARFAESI Act, 2002, any person

    aggrieved by measures taken by the secured creditor under Section 13(4) may file an application before the Debts Recovery Tribunal (DRT) within:
    A 30 days from the date of such measure, with no provision for condonation of delay Correct Answer Incorrect Answer
    B 60 days from the date on which such measure was taken, extendable by a further period not exceeding 60 days by the DRT on showing sufficient cause Correct Answer Incorrect Answer
    C 45 days from the date on which such measure was taken, extendable by a further period not exceeding 45 days by the DRT on showing sufficient cause Correct Answer Incorrect Answer
    D 90 days from the date on which such measure was taken, with no provision for any extension Correct Answer Incorrect Answer

    Solution

    Section 17(1) of the SARFAESI Act, 2002 provides that any person aggrieved by any of the measures referred to in Section 13(4) may make an application to the Debts Recovery Tribunal having jurisdiction within 45 days from the date on which such measure was taken. The DRT may, if satisfied that there was sufficient cause preventing filing within 45 days, admit the application, but the additional period cannot exceed a further 45 days. The DRT is required to dispose of such applications within 60 days, extendable up to a maximum of 4 months.

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