Section 5(5) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(5)[ On acquisition of financial assets under sub-section (1), the [asset reconstruction company] [Inserted by Act No.1 OF 2013] may with the consent of the originator, file an application before the Debts Recovery Tribunal or the Appellate Tribunal or any court or other Authority for the purpose of substitution of its name in any pending suit, appeal or other proceedings and on receipt of such application, such Debts Recovery Tribunal or the Appellate Tribunal or court or Authority shall pass orders for the substitution of the [asset reconstruction company] [Substituted by Act No. 44 of 2016.] in such pending suit, appeal or other proceedings.][5-A. Transfer of pending applications to any one of Debts Recovery Tribunals in certain cases. [Inserted by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004), Section 5 (w.e.f. 11.11.2004).]
