Banking · Asset Reconstruction Companies (ARC)
Which legislative act provides the primary legal basis for Asset Reconstruction Companies (ARCs) in India to take possession of a defaulting borrower's collateralized property?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The Consumer Protection Act
- 2The SARFAESI Act, 2002✓
- 3The RBI Credit Restructuring Guidelines
- 4The Indian Companies Act, 2013
Correct answer
The SARFAESI Act, 2002
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