Act No. 44 of 2016.] (iiib) asset reconstruction company, whether acting as such or managing a trust created for the purpose of securitisation or asset ... Companies Act, 1956 ( 1 of 1956 ) for the purpose of securitisation;' by Act No. 44 of 2016.] (zb) security agreement means an agreement, instrument
Interest Act, 2002
3. Registration of [asset reconstruction company] [Substituted by Act No. 44 of 2016.] .
(1) No [asset reconstruction company] [Substituted by Act ... asset reconstruction company] [Substituted by Act No. 44 of 2016.] existing on the commencement of this Act, shall make an application for registration
Section 5 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
5. Acquisition of rights or interest in financial ... company is for the purposes other than asset reconstruction or securitisation.] [Inserted by Act No. 44 of 2016.] (2) If the bank or financial institution
Section 20 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
20. Central Registry.
(1) The Central Government ... registration of transaction of securitisation and reconstruction of financial assets and creation of security interest under this Act. (2) The head office of the Central
Section 4 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
4. Cancellation of certificate of registration ... reconstruction company] [Substituted by Act No. 44 of 2016.] , if such company (a) ceases to carry on the business of securitisation or asset reconstruction
Court
analysed the provisions of the Securitisation Act, the State Act and observed:-
"......... if any Central Act provides for first charge, the charge
created ... Finance Corporation Act, 1948 , The State Financial
Corporation Act, 1951 , The Unit Trust of India Act, 1963 , Industrial Reconstruction
Bank of India Act
Assets
and Enforcement of Security Interest Act, 2002 (for short “the
Securitisation Act ”). The auction was confirmed by the bank on 08.11.2005
on the appellant ... Tribunal (for short “the DRT”), Jabalpur under
Section 17 of the Securitisation Act challenging the sale notice dated
08.11.2005. The application was opposed
Act, 2002
10. Other functions of [asset reconstruction company] [Substituted by Act No. 44 of 2016.] .
(1) Any [asset reconstruction company] [Substituted by Act ... asset reconstruction company] [Substituted by Act No. 44 of 2016.] shall act as a manager if acting as such gives rise to any pecuniary liability
Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
22. Register of securitisation, reconstruction and security interest transactions.
(1) For the purposes ... this Act, a record called the Central Register shall be kept at the head office of the Central Registry for entering the particulars
Section 11 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
11. Resolution of disputes.
- Where any dispute relating ... securitisation or reconstruction or non-payment of any amount due including interest arises amongst any of the parties, namely, the bank or financial institution
