Which of the following statements is correct under Section 5 of the SARFAESI Act, 2002?
Section 5 is headed "Acquisition of rights or interest in financial assets". Cancellation of registration is section 4, transfer of pending applications to one Debts…
Choose your answer
Which of the following statements is correct under Section 5 of the SARFAESI Act, 2002?
Answer and explanation
Correct answer B
Section 5 is headed "Acquisition of rights or interest in financial assets". Cancellation of registration is section 4, transfer of pending applications to one Debts Recovery Tribunal is section 5A, and notice to the obligor is section 6.