Ans:
Yes, as per the SARFAESI Act, asset management companies can change or take over the management of the debtor's company. Further, they also do the following as a part of restructuring:
It can also sell or lease such a business, offering alternative options for repaying the debts.
It can also enforce the security interest as per the laws.
It can also take possession of such assets that were offered as security.
It also has the power of converting debt into shares.