Section 11
Resolution of disputes.
About this Act
An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and to provide for a Central database of security interests created on property rights, and for matters connected therewith or incidental thereto.
Where any dispute relating to securitisation or reconstruction or nonpayment
of any amount due including interest arises amongst any of the parties, namely, the bank, or
financial institution, or 1[asset reconstruction companyor] 2[qualified buyer], such dispute shall be settled
settled by conciliation or arbitration as provided in the Arbitration and Conciliation Act, 1996 (26 of
1996), as if the parties to the dispute have consented in writing for determination of such dispute by
conciliation or arbitration and the provisions of that Act shall apply accordingly.
Notes
1. Subs. by Act 44 of 2016, s. 3, for "securitisation company or reconstruction company" (w.e.f. 1-9-2016).
2. Subs. by s. 3, ibid., for "qualified institutional buyer" (w.e.f. 1-9-2016).
2. Subs. by s. 3, ibid., for "qualified institutional buyer" (w.e.f. 1-9-2016).