B:-There must be a default in repayment of secured debt or instalment thereof
C:-The account must be classified as Non-Performing Asset
D:-The security interest must be a least Rs.20,000
Correct Answer:- Option-D
Question67:-Which of the following does not fall under financial asset as per the SARFAESI Act:
A:-mortgage, charge, hypothecation or pledge of movable property
B:-Any right or interest in the security, whether full or part underlying such debt or receivables
C:-Any financial assistance
D:-Prepaid expenses undertaken with respect to a movable or immovable property
Correct Answer:- Option-D
Question68:-What can a secured creditor do if his dues are not fully satisfied with the sale proceeds of the secured asset:
A:-He cannot take further action. He has to satisfy his claims with the amount received after selling the secure asset
-He can proceed against the debtor by filing an application before Debt Recovery Tribunal
C:-He can proceed against the debtor by filing an application before the High Court
D:-He cannot take further action unless the debtor agrees to the payment of the remainder amount
Correct Answer:- Option-B
Question69:-What is the time limit within which any person aggrieved by any measure taken by secured creditors can file an
application to the Debt Recovery Tribunal:
A:-Within 15 days from the date on which such measure had been taken
B:-Within 30 days from the date on which such measure had been taken
C:-Within 45 days from the date on which such measure had been taken
D:-Within 60 days from the date on which such measure had been taken
Correct Answer:- Option-C
Question70:-Which court shall try offences punishable under the SARFAESI Act:
A:-A Court not inferior to that of Metropolitan Magistrate or a Judicial Magistrate of Second Class
B:-A Court not inferior to that of High Court
C:-A Court not inferior to that of Metropolitan Magistrate or a Judicial Magistrate of First Class
D:-A Court not inferior to that of Principal Junior Civil Judge or a Judicial Magistrate of First Class
Correct Answer:- Option-C
Question71:-The Limitation Act, 1963 applies to
A:-the whole of India except the State of Jammu and Kashmir
B:-the whole of India including the State of Jammu and Kashmir
C:-the whole of India except the North- Eastern States of India
D:-the whole of India except the State of Jammu and Kashmir and the North- Eastern States of India
Correct Answer:- Option-A
Question72:-Under section 2(1) of Limitation Act suit includes
A:-appeal
B:-application
C:-plaint
D:-none of the above
Correct Answer:- Option-C
Question73:-Section 6 of Limitation Act does not apply to
A--insolvent
B:-minor
:-insane
D:-idiot
Correct Answer:- Option-A
Question74:-Section 15 of Limitation Act excludes from computation of limitation
A:-A period of notice
me taken in granting previous consent
C:-time taken in grant of sanction
D:-all the above
Correct Answer:- Option-D
Question75:-Under section 25 of Limitation Act the easement rights are acquired by continuous & uninterrupted user
A:-for 12 years
B:-for 20 years
C:-for 30 years
D:-for 3 years
Correct Answer:- Option-B