LawgistThe Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act
12APower of Reserve Bank to call for statements and information
1[12A. Power of Reserve Bank to call for statements and information.-- The Reserve Bank may at any time direct a 2[asset reconstruction company] to furnish it within such time as may be specified by the Reserve Bank, with such statements and information relating to the business or affairs of such 2[asset reconstruction company] (including any business or affairs with which such company is concerned) as the Reserve Bank may consider necessary or expedient to obtain for the purposes of this Act.]
Download our fully-offline, High speed android app.- Click here
1. Ins. by Act 30 of 2004, s. 7 (w.e.f. 11-11-2004).
2. Subs. by Act 44 of 2016, s. 3, for "securitisation company or reconstruction company" (w.e.f. 1-9-2016).
REGULATION OF SECURITISATION AND RECONSTRUCTION OF FINANCIALASSETS OF BANKS AND FINANCIALINSTITUTIONS
- 3 Registration of asset reconstruction companies
- 4 Cancellation of certificate of registration
- 5 Acquisition of rights or interest in financial assets
- 5A Transfer of pending applications to any one of Debts Recovery Tribunals in certain cases
- 6 Notice to obligor and discharge of obligation of such obligor
- 7 Issue of security by raising of receipts or funds by asset reconstruction company
- 8 Exemption from registration of security receipt
- 9 Measures for assets reconstruction
- 10 Other functions of asset reconstruction company
- 11 Resolution of disputes
- 12 Power of Reserve Bank to determine policy and issue directions
- 12A Power of Reserve Bank to call for statements and information
- 12B Power of Reserve Bank to carry out audit and inspection
