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A company intends to commence the business of asset reconstruction. Which statutory requirement under…

Section 3(1) bars an asset reconstruction company from commencing or carrying on that business without first obtaining a certificate of registration under that section, so…

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A company intends to commence the business of asset reconstruction. Which statutory requirement under Section 3 of the SARFAESI Act, 2002 must ordinarily be satisfied first?

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Correct answer A

Section 3(1) bars an asset reconstruction company from commencing or carrying on that business without first obtaining a certificate of registration under that section, so registration under section 3 must ordinarily be satisfied first, not High Court approval or Central Registry registration.

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