Piramal Capital Housing Finance Legal Manager Interview Questions and Answers

Q1. Regarding stamp duty, ownership documents etc etc...
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Q1. Expectations n all..
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Q1. 1. Any current knowledge about legal issues ? 2. Any drafting skills known to you ?
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Q2. Any drafting skills
Ans. 
Yes, I have strong drafting skills with experience in creating legal documents such as contracts, agreements, and policies.
• Proficient in drafting various legal documents

• Experience in creating contracts, agreements, and policies

• Ability to ensure accuracy and compliance with legal requirements

• Strong attention to detail in drafting legal documents
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Q3. No answer at all I don’t know
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GD was held bw two groups pf 10 people

General questions on legal aptitude were asked

Q1. Lasted about 25 minutes. Case scenarios were given and prompt response was asked on it
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Q1. Basic details about bank and industry
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Q2. What your previous role
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Q3. Moderate level Technical question by vertical head
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Q1. Tell me about your work experience?
Ans. 
I have over 10 years of experience working as a Legal Manager in various industries.
• Managed a team of legal professionals to ensure compliance with laws and regulations

• Drafted and reviewed contracts, agreements, and legal documents

• Provided legal advice and guidance to senior management

• Handled litigation and dispute resolution processes

• Developed and implemented company policies and procedures to mitigate legal risks
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Q2. What do you know about the SARFAESI ACT.
Ans. 
SARFAESI Act stands for Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
• SARFAESI Act allows banks and financial institutions to auction residential or commercial properties to recover loans in case of default.

• It provides a faster mechanism for recovery of non-performing assets without court intervention.

• The Act empowers banks to take possession of the secured assets ...read more
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Q3. Tell me about section 13 (8) of SARFAESI ACT and also explain pre requisites for issuing demand notice under SARFAESI ACT.
Ans. 
Section 13(8) of SARFAESI Act allows the borrower to appeal against the measures taken by the bank under the Act.
• Section 13(8) of SARFAESI Act states that the borrower can make an appeal to the Debt Recovery Tribunal (DRT) against the measures taken by the bank under the Act.

• The pre-requisites for issuing a demand notice under SARFAESI Act include the borrower defaulting on repayment of the loan, the bank classifying t...read more
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Q4. What is the notice period under section 138 of NI act and also when the cause of action arises to file a case under section 138.
Ans. 
Notice period under section 138 of NI act and cause of action to file a case.
• Notice period under section 138 is 15 days from the date on which the payee receives the notice of dishonor.

• Cause of action to file a case under section 138 arises when the cheque is dishonored by the bank due to insufficient funds or other reasons.

• The payee must send a legal notice to the drawer within 30 days of dishonor of the cheque to giv...read more
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Q5. Tell me something about Nclt and under which section financial creditors are defined. What is the procedure of liquidation.
Ans. 
NCLT is a quasi-judicial body that adjudicates insolvency and company law cases. Financial creditors are defined under Section 5(7) of the Insolvency and Bankruptcy Code, 2016.
• NCLT stands for National Company Law Tribunal.

• It is a quasi-judicial body established under the Companies Act, 2013.

• Financial creditors are defined under Section 5(7) of the Insolvency and Bankruptcy Code, 2016.

• The procedure of liquidation involv...read more
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