New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The security receipts under SARFAESI Act_______.

    A May or may not be registered Correct Answer Incorrect Answer
    B Shall not require compulsory registration Correct Answer Incorrect Answer
    C Are registered as per government norms Correct Answer Incorrect Answer
    D Need registration on request of the Qualified Buyers Correct Answer Incorrect Answer

    Solution

    Section 8 of SARFAESI Act: Exemption from registration of security receipt.—Notwithstanding anything contained in sub-section (1) of section 17 of the Registration Act, 1908 (16 of 1908),— (a) any security receipt issued by the asset reconstruction company, as the case may be, under sub-section (1) of section 7, and not creating, declaring, assigning, limiting or extinguishing any right, title or interest, to or in immovable property except in so far as it entitles the holder of the security receipt to an undivided interest afforded by a registered instrument; or (b) any transfer of security receipts, shall not require compulsory registration.

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