Question

    Under the SARFAESI Act a who can enforce the security

    interest created in his favour without the intervention of the Court or Tribunal?
    A Secured Creditor Correct Answer Incorrect Answer
    B Unsecured Creditor Correct Answer Incorrect Answer
    C Borrower Correct Answer Incorrect Answer
    D Obligor Correct Answer Incorrect Answer
    E All of the above Correct Answer Incorrect Answer

    Solution

    Under the SARFAESI Act a secured creditor can enforce the security interest created in his favour without the intervention of the Court or Tribunal. This power given to the secured creditor, has an overriding effect over the provisions related to mortgage in the Transfer of Property Act, 1882, as in that Act Court intervention is required.

    Practice Next
    More Financial Management Questions

    Relevant for Exams:

    ask-question