Module: | KYC, NPAs, Advances & Investment Valuations
Q159: Under the Reserve Bank of India (Treatment of Wilful Defaulters and Large Defaulters) Directions, the term "suit filed account" includes pending proceedings under which Acts?
1. The Insolvency and Bankruptcy Code, 2016.
2. The SARFAESI Act, 2002.
3. Acts governing co-operative societies.
4. The Indian Contract Act, 1872.
2. The SARFAESI Act, 2002.
3. Acts governing co-operative societies.
4. The Indian Contract Act, 1872.
✅ Correct Answer: C
"Suit filed accounts" include accounts where entities have approached courts or tribunals.
This includes the IBC and SARFAESI Act.
It also includes Acts governing co-operative societies.
This includes the IBC and SARFAESI Act.
It also includes Acts governing co-operative societies.