Lawzonline.com

 

 

 


  Home>>Bare Acts>>Back to Index

 

 

9. Measures for assets reconstruction.-Without prejudice to the provisions contained in any other law for the time being in force, a securitisation company or reconstruction company may, for the purposes of asset reconstruction, having regard to the guidelines framed by the Reserve Bank in this behalf, provide for any one or more of the following measures, namely:-

(a) the proper management of the business of the borrower, by change in, or take over of, the management of the business of the borrower;

(b) the sale or lease of a part or whole of the business of the borrower;

(c) rescheduling of payment of debts payable by the borrower;

(d) enforcement of security interest in accordance with the provisions of this Act;

(e) settlement of dues payable by the borrower;

(f) taking possession of secured assets in accordance with the provisions of this Act.

 

 

 

 

Central Bare Acts
State Bare Acts

   

 

 

 

 

Home | Law Dictionary | Law Schools | Law Digest | Bare Acts | Disclaimer |  Privacy Policy

 
   
   
 

 

 

Copy right : Indu Info (All rights reserved)