Where management of the business is taken over under the Securitisation and Reconstruction of Financial…
Where management of the business is taken over under the Act, SARFAESI s.15 governs both the procedure of takeover and its legal consequences, unlike ss.13 and 14 which…
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Where management of the business is taken over under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the statutory provision governing both the procedure and its consequences is:
Answer and explanation
Correct answer C
Where management of the business is taken over under the Act, SARFAESI s.15 governs both the procedure of takeover and its legal consequences, unlike ss.13 and 14 which address enforcement and possession.