Section 24
Modification of security interest registered under this Act.
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.
Whenever the terms or
conditions, or the extent or operation of any security interest registered under this Chapter are or is
1[asset reconstruction company] or the secured creditors, as the case may be, to send to the Central
Registrar, the particulars of such modification, and the provisions of this Chapter as to registration of a
security interest shall apply to such modification modified, it shall be the duty of the 2[asset
reconstruction company] or the of such security interest.
Notes
1. Subs. by s. 3, ibid., for "reconstruction company" (w.e.f. 1-9-2016).
2. Subs. by s. 3,ibid., for "securitisation company" (w.e.f. 1-9-2016).
2. Subs. by s. 3,ibid., for "securitisation company" (w.e.f. 1-9-2016).