Section 1: Short title, extent and commencement

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) 1[An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and to provide for a Central database of security…

Section 2: Definitions

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER- I Preliminary Section 2: Definitions 2. (1) In this Act, unless the context otherwise requires,— (a) “Appellate Tribunal” means a Debts Recovery Appellate…

Section 3: Registration of securitisation companies or reconstruction companies

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial institutions Section 3: Registration of 1[ asset reconstruction companies]. 3. (1)…

Section 4: Cancellation of certificate of registration

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions Section 4: Cancellation of certificate of registration. 4. (1) The Reserve…

Section 5: Acquisition of rights or interest in financial assets.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions Section 5: Acquisition of rights or interest in financial assets. 5.…

Section 5A: Transfer of pending applications to any one of Debts Recovery Tribunals in certain cases.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions Section 5A: Transfer of pending applications to any one of Debts…

Section 6: Notice to obligor and discharge of obligation of such obligor.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions Section 6: Notice to obligor and discharge of obligation of such…

Section 7: Issue of security by raising of receipts or funds by asset reconstruction company

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions Section 7: Issue of security by raising of receipts or funds…

Section 8: Exemption from registration of security receipt.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions Section 8: Exemption from registration of security receipt. 8. Notwithstanding anything…

Section 9: Measures for assets reconstruction.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) CHAPTER-II Regulation of securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions Section 9: Measures for assets reconstruction. 1[9. (1) Without prejudice to…

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