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The Sarfaesi Act amendment bill 2016 provides the facilities that the District Magistrate has to assist in the recovery process of the secured creditors and complete process within
- a)10 days
- b)30 days
- c)45 days
- d)50 days
- e)55 days
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
The Sarfaesi Act amendment bill 2016 provides the facilities that the ...
Explanation:
District Magistrate's Role:
- The Sarfaesi Act amendment bill 2016 requires the District Magistrate to assist in the recovery process of the secured creditors.
- The District Magistrate plays a crucial role in expediting the recovery process and ensuring that it is completed efficiently.
Time Limit:
- According to the amendment bill, the District Magistrate is required to assist in the recovery process and complete the process within 30 days.
- This time limit is set to ensure that the recovery process is completed in a timely manner and to provide a clear timeline for the creditors to work within.
Importance of Timely Recovery:
- Timely recovery of assets is essential for secured creditors to mitigate their losses and maintain the stability of the financial system.
- Setting a specific time limit for the completion of the recovery process helps in streamlining the process and ensuring that it is done promptly.
Conclusion:
- The Sarfaesi Act amendment bill 2016 mandates that the District Magistrate has to assist in the recovery process of the secured creditors and complete the process within 30 days. This provision aims to expedite the recovery process and ensure that it is done efficiently for the benefit of all parties involved.
District Magistrate's Role:
- The Sarfaesi Act amendment bill 2016 requires the District Magistrate to assist in the recovery process of the secured creditors.
- The District Magistrate plays a crucial role in expediting the recovery process and ensuring that it is completed efficiently.
Time Limit:
- According to the amendment bill, the District Magistrate is required to assist in the recovery process and complete the process within 30 days.
- This time limit is set to ensure that the recovery process is completed in a timely manner and to provide a clear timeline for the creditors to work within.
Importance of Timely Recovery:
- Timely recovery of assets is essential for secured creditors to mitigate their losses and maintain the stability of the financial system.
- Setting a specific time limit for the completion of the recovery process helps in streamlining the process and ensuring that it is done promptly.
Conclusion:
- The Sarfaesi Act amendment bill 2016 mandates that the District Magistrate has to assist in the recovery process of the secured creditors and complete the process within 30 days. This provision aims to expedite the recovery process and ensure that it is done efficiently for the benefit of all parties involved.
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The Sarfaesi Act amendment bill 2016 provides the facilities that the ...
The correct answer is B) 30 days. The Sarfaesi Act amendment bill 2016 introduced provisions to expedite the recovery process for secured creditors. According to the amendment, the District Magistrate is required to assist in the recovery process and ensure that it is completed within 30 days. This amendment aimed to streamline and accelerate the recovery of dues by providing a time-bound framework for the resolution of defaulted loans, thereby strengthening the rights of secured creditors in India.
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The Sarfaesi Act amendment bill 2016 provides the facilities that the District Magistrate has to assist in the recovery process of the secured creditors and complete process withina)10 daysb)30 daysc)45 daysd)50 dayse)55 daysCorrect answer is option 'B'. 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 Sarfaesi Act amendment bill 2016 provides the facilities that the District Magistrate has to assist in the recovery process of the secured creditors and complete process withina)10 daysb)30 daysc)45 daysd)50 dayse)55 daysCorrect answer is option 'B'. 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 Sarfaesi Act amendment bill 2016 provides the facilities that the District Magistrate has to assist in the recovery process of the secured creditors and complete process withina)10 daysb)30 daysc)45 daysd)50 dayse)55 daysCorrect answer is option 'B'. Can you explain this answer?.
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