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The Asset Reconstruction Company may perform other functions as are laid down under section 10 of the Act and which does not include _________.
  • a)
    Act as a manager, where no pecuniary liability arises
  • b)
    Act as an agent for any bank or financial institution
  • c)
    Act as receiver if appointed by any court or tribunal
  • d)
    Act for the settlement of dues payable by the borrower
  • e)
    All the above
Correct answer is option 'D'. Can you explain this answer?
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The Asset Reconstruction Company may perform other functions as are la...
Section 10 Other functions of asset reconstruction company (1) Any asset reconstruction company registered under section 3 may (a) act as an agent for any bank or financial institution for the purpose of recovering their dues from the borrower on payment of such fees or charges as may be mutually agreed upon between the parties; (b) act as a manager referred to in clause (c) of sub-section (4) of section 13 on such fee as may be mutually agreed upon between the parties; (c) act as receiver if appointed by any court or tribunal: Provided that no asset reconstruction company shall act as a manager if acting as such gives rise to any pecuniary liability.
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The Asset Reconstruction Company may perform other functions as are laid down under section 10 of the Act and which does not include _________.a)Act as a manager, where no pecuniary liability arisesb)Act as an agent for any bank or financial institutionc)Act as receiver if appointed by any court or tribunald)Act for the settlement of dues payable by the borrowere)All the aboveCorrect answer is option 'D'. Can you explain this answer?
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The Asset Reconstruction Company may perform other functions as are laid down under section 10 of the Act and which does not include _________.a)Act as a manager, where no pecuniary liability arisesb)Act as an agent for any bank or financial institutionc)Act as receiver if appointed by any court or tribunald)Act for the settlement of dues payable by the borrowere)All the aboveCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about The Asset Reconstruction Company may perform other functions as are laid down under section 10 of the Act and which does not include _________.a)Act as a manager, where no pecuniary liability arisesb)Act as an agent for any bank or financial institutionc)Act as receiver if appointed by any court or tribunald)Act for the settlement of dues payable by the borrowere)All the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Asset Reconstruction Company may perform other functions as are laid down under section 10 of the Act and which does not include _________.a)Act as a manager, where no pecuniary liability arisesb)Act as an agent for any bank or financial institutionc)Act as receiver if appointed by any court or tribunald)Act for the settlement of dues payable by the borrowere)All the aboveCorrect answer is option 'D'. Can you explain this answer?.
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