Section 30D(9) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(9)Where the person to whom the notice is sent under this section, fails to make payment in pursuance thereof to the Reserve Bank, he shall be deemed to be the person in default in respect of the amount specified in the notice and action or proceedings may be taken or instituted against him for the realisation of the amount in the manner provided in this section.
