FAQ About Taking Over of Management

FAQ About Taking Over of Management

Answer : The asset reconstruction company may take over management of business of a Borrower under Section 9(1)(a) of the Sarfaesi Act, 2002 and any other secured creditor may take over the management of business of a Borrower under Section 13(4)(b) of Sarfaesi Act, 2002

Answer : If a Secured Creditor takes over the management of business of a Borrower, the directors of the borrower company vacate their office and are replaced by new directors or administrator appointed by the secured creditor.

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FAQ About Taking Over of Management

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FAQ About Taking Over of Management

If a Secured Creditor wants to take over the management of business of a Borrower , what will be the manner of taking over of management ?

If a Secured Creditor takes over the management of business of a Borrower , what will be its effect?

Categories

Related FAQs

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FAQ About Taking Over of Management

FAQ About Misc. Provisions of Sarfaesi Act, 2002

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