Legal Question in Banking Law in India

15 (d)

the directors appointed under this section sha

ll, for all purposes, be the directors of the

company of the borrower and such directors or, as t

he case may be, the administrators

appointed under this section, shall alone be entitl

ed to exercise all the powers of the directors

or, as the case may be, of the persons exercising p

owers of superintendence, direction and

control, of the business of the borrower whether su

ch powers are derived from the

memorandum or articles of association of the compan

y of the borrower or from any other

source whatsoever.

26.05.2016

Dear Sir / Madam,

Yes, the Adm is legally entitled to pass orders under Section 14 of the SARFAESI Act. (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act).

Regards,