Assessment Test- Induction-Specialist Law Officers

What is the maximum time limit in normal circumstances to create charge of Assets of the Private Limited company with ROC?

• 30 days

• 60 days

• 90 days

• 120 days

if the loan account remain overdue for a period of ............................, the account will become NPA.

• 90 days

• less than 90 days

• more than 90 days

• 3 months

When the term loan account will become NPA from the due date of review, if it is NOT reviewed by the credit officer of the bank?

• 3 months

• 6 months

• 3 months + 90 days

• 180 days

If, the principal amount, Interest amount and Charges are demanded on the same in the borrower loan account, which among the above three will be adjusted first?

• Interest Amount

• Charges

• Principal

• As per credit officer's discretion

Under which section of IBC, the operational creditor can file the application with NCLT?

• Section-7

• Section-8

• Section-9

• Section-10

Which Form is used for CREATION of the charge of the company assets with ROC?

• CHG-1

• CHG-2

• CHG-3

• CHG-4

Which Form is used for SATISFCATION of the charge of the company assets with ROC?

• CHG-1

• CHG-2

• CHG-3

• CHG-4

What is the maximum time limit including litigation for Corporate Insolvency Resolution Process under IBC?

• 270 days

• 180 days

• 330 days

• 6 month

For how many years, if the person is convicted with imprisonment, then he is disqualified to become a director in any company?

• 2 years

• 3 years

• 5 years

• 7 years

SARFAESI Stands for.....

• Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act

• Security and Reconstruction of Financial Assets and Enforcement of Security Interest Act

• Securitization and Reconstruction of Financial Assets and Enforcement of Security Instrument Act

• Securitization and Restructuring of Financial Assets and Enforcement of Security Interest Act