Question
Which section of SARFAESI Act provides for registration
of asset reconstruction company?Solution
Section 3 - Registration of asset reconstruction companies— (1) No asset reconstruction company shall commence or carry on the business of securitisation or asset reconstruction without— (a) obtaining a certificate of registration granted under this section; and (b) having net owned fund of not less than two crore rupees or such other higher amount as the Reserve Bank, may, by notification, specify.
A company purchased machinery worth ₹5 lakh during the year and repaid a long-term loan of ₹3 lakh. It generated ₹12 lakh from operations. What is...
According to RBI guidelines (aligned with Basel norms), what is the minimum Capital to Risk-Weighted Assets Ratio (CRAR or CAR) that scheduled commercia...
Which of the following is correct about cash equivalents?
Which of the following is recorded under other comprehensive income (OCI) typically?
Read the following information to answer the below questions:
Which Act in India regulates the negotiation and transfer of negotiable instruments such as promissory notes, bills of exchange, and cheques?
Which accounting method is used for long-duration insurance contracts under IND AS 104?
An enterprise consumes 25,600 units of a component annually. The order cost is ₹600 per order, and carrying cost is ₹12/unit/year. A supplier offers...
A company chooses not to record a small calculator worth ₹500 as a fixed asset. Which concept is being applied?
While preparing a Cash Flow Statement using the Indirect method as required under AS 3, which of the following will not be deducted from/added to the Ne...
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