आधिकारिक दस्तावेज़ / Official document
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Hindi — official source version
H2002-54.pdf
इस संस्करण को आधिकारिक दस्तावेज़ में पढ़ें। Read this version in its official source document.
Open official source version ↗About this act
- Jurisdiction
- Central
- Enactment date
- 2002-12-17
- Sections available
- 61
Commencement information from the source
21-06-2002
Read the sections
1Short title, extent and commencement.→2Definitions.→3Registration of asset reconstruction companies.→4Cancellation of certificate of registration.→5Acquisition of rights or interest in financial assets.→5ATransfer of pending applications to any one of Debts Recovery Tribunals in certain cases.→6Notice to obligor and discharge of obligation of such obligor.→7Issue of security by raising of receipts or funds by asset reconstruction company.→8Exemption from registration of security receipt.→9Measures for assets reconstruction.→10Other functions of asset reconstruction company.→11Resolution of disputes.→12Power of Reserve Bank to determine policy and issue directions.→12APower of Reserve Bank to call for statements and information.→12BPower of Reserve Bank to carry out audit and inspection.→13Enforcement of security interest.→14Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset.→15Manner and effect of take over of management.→16No compensation to directors for loss of office.→17Application against measures to recover secured debts.→17AMaking of application to Court of District Judge in certain cases.→18Appeal to Appellate Tribunal.→18AValidation of fees levied.→18BAppeal to High Court in certain cases.→18CRight to lodge a caveat.→19Right of borrower to receive compensation and costs in certain cases.→20Central Registry.→20AIntegration of registration systems with Central Registry.→20BDelegation of powers.→21Central Registrar.→22Register of securitisation, reconstruction and security interest transactions.→23Filing of transactions of securitisation, reconstruction and creation of security interest.→24Modification of security interest registered under this Act.→25Asset reconstruction companyor secured creditors to report satisfaction of security interest.→26Right to inspect particulars of securitisation, reconstruction and security interest transactions.→26ARectification by Central Government in matters of registration, modification and satisfaction, etc.→26BRegistration by secured creditors and other creditors.→26CEffect of the registration of transactions, etc.→26DRight of enforcement of securities.→26EPriority to secured creditors.→27Penalties.→28[Omitted.].→29Offences.→30Cognizance of offence.→30APower of adjudicating authority to impose penalty.→30BAppeal against penalties.→30CAppellate Authority.→30DRecovery of penalties.→31Provisions of this Act not to apply in certain cases.→31APower to exempt a class or classes of banks or financial institutions.→32Protection of action taken in good faith.→33Offences by companies.→34Civil court not to have jurisdiction.→35The provisions of this Act to override other laws.→36Limitation.→37Application of other laws not barred.→38Power of Central Government to make rules.→39Certain provisions of this Act to apply after Central Registry is set up or cause to be set up.→40Power to remove difficulties.→41Amendments to certain enactments.→42Repeal and saving.→
Schedules
India Code, Government of India. Text fetched 10 Oct 2026. Source metadata reports last modification: 2019-12-02. Check the linked official text and subsequent notifications when applying a provision.