Section 10(7) in The Energy Conservation (Partial Risk Guarantee Fund for Energy Efficiency) Rules, 2016
(7)In the event of default the participating financial institution shall exercise its rights, if any, to take over the assets of the borrowers and the amount realised, if any, from the sale of such assets or otherwise shall be credited in proportion to the guarantee given on the total loan amount for that project to Partial Risk Guarantee Fund for Energy Efficiency before it claims the remaining twenty five percent of the claim against guarantee.
