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 34: Civil court not to have jurisdiction.
    No civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which a Debts Recovery Tribunal or the Appellate Tribunal is empowered by or under this Act to determine and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any power conferred by or under this Act or under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993).
Previous Section Next Section
Scroll to Top