Section 16 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security…
Section 16 provides that no director or manager of the borrower "shall be entitled to any compensation for the loss of office" when management is taken over. Takeover of…
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Section 16 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 deals with:
Answer and explanation
Correct answer B
Section 16 provides that no director or manager of the borrower "shall be entitled to any compensation for the loss of office" when management is taken over. Takeover of management is section 15, the borrower's right to compensation section 19, and Reserve Bank directions section 12.