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    Question

    Which of the following act provides the legal basis for

    the setting up of Asset Reconstruction Company (ARC) in India?
    A SARFAESI Act Correct Answer Incorrect Answer
    B FEMA Act Correct Answer Incorrect Answer
    C FERA Act Correct Answer Incorrect Answer
    D RBI Act Correct Answer Incorrect Answer
    E SEBI Act Correct Answer Incorrect Answer

    Solution

    The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 provides the legal basis for the setting up of ARCs in India.

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