Section 4(3) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(3)A [asset reconstruction company] [Substituted by Act No. 44 of 2016.] which is holding investments of [qualified buyers] [Substituted by Act No. 44 of 2016.] and whose application for grant of certificate of registration has been rejected or certificate of registration has been cancelled shall, notwithstanding such rejection or cancellation, be deemed to be a [asset reconstruction company] [Substituted by Act No. 44 of 2016.] until it repays the entire investments held by it (together with interest, if any) within such period as the Reserve Bank may direct.
