Which of the following best reflects the object of Section 3 of the SARFAESI Act, 2002?
Section 3 provides that no asset reconstruction company shall "commence or carry on the business of asset reconstruction" without a certificate of registration from the…
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Which of the following best reflects the object of Section 3 of the SARFAESI Act, 2002?
Answer and explanation
Correct answer B
Section 3 provides that no asset reconstruction company shall "commence or carry on the business of asset reconstruction" without a certificate of registration from the Reserve Bank. Registration of a security interest with the Central Registry before enforcement is a different requirement under section 26D, enforcement without court intervention is section 13, and appeals are section 18.