Which of the following statements is correct under Section 31 of the SARFAESI Act, 2002?
Section 31 is headed "Provisions of this Act not to apply in certain cases", for example security interest in agricultural land. The power to exempt classes of banks or…
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Which of the following statements is correct under Section 31 of the SARFAESI Act, 2002?
Answer and explanation
Correct answer B
Section 31 is headed "Provisions of this Act not to apply in certain cases", for example security interest in agricultural land. The power to exempt classes of banks or financial institutions is section 31A, protection for good faith acts section 32, and offences by companies section 33.