Section 26D

Right of enforcement of securities.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

  • Act 54 of 2002
  • Ministry of Finance
  • Department of Financial Services
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.

All sections
    1[26D. Right of enforcement of securities.--Notwithstanding anything contained in any other law for the time being in force, from the date of commencement of the provisions of this Chapter, no secured creditor shall be entitled to exercise the rights of enforcement of securities under Chapter III unless the security interest created in its favour by the borrower has been registered with the Central Registry.]

Notes

1. Ins. by s. 18, ibid. (w.e.f. 24-1-2020).

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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