Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest…
A borrower aggrieved by the secured creditor's recovery measures seeks redress under SARFAESI s.17, which provides for a statutory application to the Debts Recovery Tribunal.
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Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, a borrower aggrieved by measures taken by the secured creditor for recovery of secured debt seeks statutory redress. Which provision primarily governs such remedy?
Answer and explanation
Correct answer B
A borrower aggrieved by the secured creditor's recovery measures seeks redress under SARFAESI s.17, which provides for a statutory application to the Debts Recovery Tribunal.