A director ceases to hold office solely because of action taken under the Securitisation and…
A director's claim to compensation for loss of office caused by action under the Act is directly governed by SARFAESI s.16, which bars payment of any such compensation.
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A director ceases to hold office solely because of action taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and claims statutory compensation for such loss of office. Which provision directly governs the claim?
Answer and explanation
Correct answer C
A director's claim to compensation for loss of office caused by action under the Act is directly governed by SARFAESI s.16, which bars payment of any such compensation.