Securitisation And Reconstruction of Financial Assets And Enforcement of Security Interest Act, 2002
Section - 1 - Short title, extent and commencementSection - 2 - Definitions
Section - 3 - Registration of securitisation companies or reconstruction companies
Section - 4 - Cancellation of certificate of registration
Section - 5 - Acquisition of rights or interest in financial assets
Section - 5A - Transfer of pending applications to any one of Debts Recovery Tribunals in certain cases
Section - 6 - Notice to obligor and discharge of obligation of such obligor
Section - 7 - Issue of security by raising of receipts or funds by asset reconstruction company
Section - 8 - Exemption from registration of security receipt
Section - 9 - Measures for assets reconstruction
Section - 10 - Other functions of securitisation company or reconstruction company
Section - 11 - Resolution of disputes
Section - 12 - Power of Reserve Bank to determine policy and issue directions
Section - 12A - Power of Reserve Bank to call for statements and information
Section - 12B - Power of Reserve Bank to carry out audit and inspection
Section - 13 - Enforcement of security interest
Section - 14 - Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset
Section - 15 - Manner and effect of take over of management
Section - 16 - No compensation to directors for loss of office
Section - 17 - Right to appeal
Section - 17A - Making of application to Court of District Judge in certain cases
Section - 18 - Appeal to Appellate Tribunal
Section - 18A - Validation of fees levied
Section - 18B - Appeal to High Court in certain cases
Section - 18C - Right to lodge a caveat
Section - 19 - Right of borrower to receive compensation and costs in certain cases
Section - 19A - Transfer of Pending Applications
Section - 20 - Central Registry
Section - 20A - Integration of registration systems with Central Registry
Section - 20B - Delegation of powers
Section - 21 - Central Registrar
Section - 22 - Register of securitisation, reconstruction and security interest transactions
Section - 23 - Filing of transactions of securitisation, reconstruction and creation of security interest
Section - 24 - Modification of security interest registered under this Act
Section - 25 - Securitisation company or reconstruction company or secured creditor to report satisfaction of security interest
Section - 26 - Right to inspect particulars of securitisation, reconstruction and security interest transactions
Section - 26A - Rectification by Central Government in matters of registration, modification and satisfaction, etc
Section - 26B - Registration by secured creditors and other creditors
Section - 26C - Effect of the registration of transactions, etc.
Section - 26D - Right of enforcement of securities
Section - 26E - Priority to secured creditors
Section - 27 - Penalties
Section - 28 - Penalties for non-compliance of direction of Reserve Bank
Section - 29 - Offences
Section - 30 - Cognizance of offences
Section - 30A - Power of adjudicating authority to impose penalty
Section - 30B - Appeal against penalties
Section - 30C - Appellate Authority
Section - 30D - Recovery of penalties
Section - 31 - Provisions of this Act not to apply in certain cases
Section - 31A - Power to exempt a class or classes of banks or financial institutions
Section - 32 - Protection of action taken in good faith
Section - 33 - Offences by companies
Section - 34 - Civil court not to have jurisdiction
Section - 35 - The provisions of this Act to override other laws
Section - 36 - Limitation
Section - 37 - Application of other laws not barred
Section - 38 - Power of Central Government to make rules
Section - 39 - Certain provisions of this Act to apply after Central Registry is set up or cause to be set up
Section - 40 - Power to remove difficulties
Section - 41 - Amendments to certain enactments
Section - 42 - Repeal and saving
Schedule - See section 41
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