The Centre has approved the setting up of seven new mega textile parks, or PM MITRA parks across the country to help to further the growth of the textile sector in the economy and position India strongly on the Global textiles map.
As per Section 3 of the SARFAESI Act, a company can carry the business of asset reconstruction only after obtaining a certificate of registration from RBI and, having the owned fund of not less than Rs 2 crore.
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