Under the provision of SARFAESI Act 2002 which of the following is not part of the financial asset reconstruction:

take over of management of the unit

re-schedulement of the dues payable by the borrower

taking possession of the assets

Under the provision of SARFAESI Act 2002, what is meant by enforcement of security interest:

sale of charged assets by the secured cdeditor without without court intervention

sale of assets of the borrowing party by the bank

sale of charged assets by the secured creditor through DRT

getting bank's charge registered with Central Registry

I an asset is sold by the secured creditor, what would be the order for the appropriation of proceeds:

first towards costs, charge incidental towards the preservation of securities

first towards the dues of the secured creditor

first towards costs and dues to the secured on prorate basis

secondly, if there is surplus towards other person entitled to the asset

if after sale of secured asset, the dues of the secured creditor are not paid fully, what option does the secured creditor have:

he can file a suit in a civil court

Securitization and reconstruction of financial assets and enforcement of security interest Act

Secularization and reconstruction of financial assets and Ensure of security interest Act

Securitisation of financial assets and enforcement of security interest Act

Securitisation and reconstruction of financial assets and enforcement of security Act

Who can initiate action under the sarfaesi act.

Secured Creditor through Authorized officers

Secured Creditor through empaneled advocate

Who can be Authorized officer

an officer OF SCALE IV AND ABOVE

Who is the competent authority to initiate SARFAESI for proposals falling under the power of Zonal heads in the rank of general manager including The proposals falling in the power of COCC-ED,CACB and MCB, subject to reporting to Recovery department , BCC.

Zonal manager in the rank of General Manager

Branch heads of concerned branch

Before initiating SARFAESI action, branch should ensure that ?

The account si declared NPA as per RBI norms

contratual dues should not be less than 1 lacs

Security document are in order and enforceable

SARFAESI action can not be initiated if ?

contractual amount is below 1 lacs

Security interest is over agricultural land

Amount due is less 20% of principal amount and interest thereon

Any rights of unpaid seller/Properties not laible for attachment or sale

Demand notice is to be issued by the secured creditor through its authorized officer as per standard format on ?

Letter head of empaneled advocate

Letter head of Authorized officer

Demand notice can be served by ------- modes

Hand develivery against proper acknowledgement

Any other means of transmission of documents like fax or electronics mail service

Demand notice under section 13(2) needs to be issued to -------.

All individual borrower and guarantors if any.

If any legal action by the borrower /Gurantor /mortgagor is anctipated against Bank's action under section 13(4) of SARFAESI act then Bank may file CAVET application before -------- and the validity period of such caveat is --------- days.

Either DRT or High court/90 days

Which of the following is not true regarding application to CMM/DM ??

Section 14 of SARFAESi act provides AO this right.

CMM/DM has to pass a suitable orders for taking possession of the secured asset within a period of 30 days from the date of application/affidavit.

CMM/DM are empowered to delay it for maximum period of 60 days after recording of reason.

SARFAESI act permitted secured credtior to sale the secured assets by ----modes

quotation from persons dealing in similar assets

Which of the followings are features of SARFAESI act.

Enforce security interest without the intervention of court/Tribunal.

priority of claims of secured creditor over the dues of other creditors including the dues of the government

In which of following instances SARFAESI actions can not be initiated?

Contractual due is less than 1 lacs

Security interst over Agricultural land

Amount due is less than 20% of principal amount and interest thereon.

Security interest over aircraft or ship/vessel.e)all of the above

NPA_00

Authored by Azhagu Muthu

Professional Development

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

SARFAESI Act 2002 does not concern which of the following aspects:

Securitisation of Financial Assets

Reconstruction of Assets

Authority to enforce without the intervention of the court

Setting up of Central Registry

None of the above

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under the provision of SARFAESI Act 2002, where a transaction of securitisation is registered:

Registrar of Companies

Registrar of Assurances

Registrar of Firms

Registrar of Central Registry

none of the above

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under the provision of SARAESI Act 2002 a charge on moveable property in favour of securd without delivery of possession to the creditor is called:

mortgage

assignment

pledge

lien

hypothecation

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the process of securitisation the non-liquid financial assets (NPA) are converted into markable securities in the form of:

debentures

pass through certificates

security receipts

bonds

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What norm has to be followed by a securitisation company regarding owned funds and the acquired financial assets i.e. owned funds as % age of acquired assets

20%

15%

12.5%

10%

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At the time of take over the bad loans from 3 banks it is found that these banks have field suits in different DRTs. Securitisation company wants to get these cases in one DRT, which can be permitted by:

Central Govt.

Supreme Court

High Court

RBI

DRAT

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the securitisation company fails to realize the securitized assets, the qualified institutional buyers holding _______ % of total value of the security receipts can force the securitisation company for a particular decision:

75%

60%

50%

40%

25%

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NPA_00

SARFAESI Act 2002 does not concern which of the following aspects:

Under the provision of SARFAESI Act 2002, where a transaction of securitisation is registered:

Under the provision of SARAESI Act 2002 a charge on moveable property in favour of securd without delivery of possession to the creditor is called:

In the process of securitisation the non-liquid financial assets (NPA) are converted into markable securities in the form of:

What norm has to be followed by a securitisation company regarding owned funds and the acquired financial assets i.e. owned funds as % age of acquired assets

At the time of take over the bad loans from 3 banks it is found that these banks have field suits in different DRTs. Securitisation company wants to get these cases in one DRT, which can be permitted by:

When the securitisation company fails to realize the securitized assets, the qualified institutional buyers holding _______ % of total value of the security receipts can force the securitisation company for a particular decision:

Under the provision of SARFAESI Act 2002 which of the following is not part of the financial asset reconstruction:

What is the maximum period allowed to a securitisation company for recovery of reconstructed financial asset:

Under the provision of SARFAESI Act 2002, what is meant by enforcement of security interest:

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