Which of the following statements is correct under Section 15 of the SARFAESI Act, 2002?
Section 15 is headed "Manner and effect of takeover of management". The rule on directors' compensation is section 16 (which denies it), acquisition of financial assets is…
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Which of the following statements is correct under Section 15 of the SARFAESI Act, 2002?
Answer and explanation
Correct answer A
Section 15 is headed "Manner and effect of takeover of management". The rule on directors' compensation is section 16 (which denies it), acquisition of financial assets is section 5, and security receipts are section 7.