State whether the following statements are True or False with reasons: (1) Lok Adalats are organised under the SARFAISI Act.
CS Professional · Banking - Law and Practice · PYQS · June 2021
State whether the following statements are True or False with reasons: (1) Lok Adalats are organised under the SARFAISI Act.
Answer & Explanation:
False - Lok Adalat is organised by State Authority, District Authority, Supreme Court Legal Service Committee, High Court Legal Service Committee, Taluk Legal Service Committee and Debt Recovery Tribunals whereas SARFAESI is a method of recovering NPAs.
Topics: Debt Recovery
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