Section 2(1)(h) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002

[Cites 0, Cited by 0] [Section 2(1)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(1)(h) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002

(h)corresponding new bank shall have the meaning assigned to it in clause (da) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);

(ha)[ "debt" shall have the meaning assigned to it in clause (g) of section 2 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and includes- [Substituted by Act No. 44 of 2016.]

(i)unpaid portion of the purchase price of any tangible asset given on hire or financial lease or conditional sale or under any other contract;

(ii)any right, title or interest on any intangible asset or licence or assignment of such intangible asset, which secures the obligation to pay any unpaid portion of the purchase price of such intangible asset or an obligation incurred or credit otherwise extended to enable any borrower to acquire the intangible asset or obtain licence of such asset;]

Legal Document View

Unlock Advanced Research with PRISMAI

Union of India - Subsection

Section 2(1)(h) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002