Banking · SARFAESI Act
Read the following statements carefully: Statement 1: The SARFAESI Act allows secured creditors to take possession of collateral and sell it without the intervention of courts or tribunals. Statement 2: The SARFAESI Act is used exclusively for corporate loans and does not apply to individual borrowers.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both statements are incorrect
- 2Both statements are correct
- 3Only Statement 2 is correct
- 4Only Statement 1 is correct✓
Correct answer
Only Statement 1 is correct
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