Act Number: 54

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

Year: 2002

Enactment Date: 2002-12-17

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 30B: Appeal against penalties.
    1[30B. Appeal against penalties.--A person in default, aggrieved by an order passed under sub-section (4) of section 30A, may, within a period of thirty days from the date on which such order is passed, prefer an appeal to the Appellate Authority:
     Provided that the Appellate Authority may entertain an appeal after the expiry of the said period of thirty days, if it is satisfied that there was sufficient cause for not filing it within such period.]
Notes:
1. Ins. by Act 44 of 2016, s. 21 (w.e.f. 1-9-2016).
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