Section 25(1) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(1)The [asset reconstruction company] [Substituted by Act No. 44 of 2016.] or the secured creditor as the case may be, shall give intimation to the Central Registrar of the payment or satisfaction in full, of any security interest relating to the [asset reconstruction company] [Substituted by Act No. 44 of 2016.] or the secured creditor and requiring registration under this Chapter, within thirty days from the date of such payment or satisfaction.[(1-A) On receipt of intimation under sub-section (1), the Central Registrar shall order that a memorandum of satisfaction shall be entered in the Central Register.] [Inserted by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004), Section 15 (w.e.f. 11.11.2004).]
