Section 5(2) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(2)If the bank or financial institution is a lender in relation to any financial assets acquired under sub-section (1) by the [asset reconstruction company] [Substituted by Act No. 44 of 2016.], such [asset reconstruction company] [Substituted by Act No. 44 of 2016.] shall, on such acquisition, be deemed to be the lender and all the rights of such bank or financial institution shall vest in such company in relation to such financial assets.
