The prohibition contained in Section 16 of the SARFAESI Act, 2002 relates specifically to:
Section 16 provides that no director, manager or person in charge of management of the borrower "shall be entitled to any compensation for the loss of office". The…
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The prohibition contained in Section 16 of the SARFAESI Act, 2002 relates specifically to:
Answer and explanation
Correct answer B
Section 16 provides that no director, manager or person in charge of management of the borrower "shall be entitled to any compensation for the loss of office". The borrower's compensation for possession wrongly taken is a separate right under section 19, and cancellation of registration is section 4.