Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI)

Section 0: Preamble, Long Title & Enacting Formula Section 1: Section 1: Short title, extent and commencement Section 2: Section 2: Definitions Section 3: Section 3: Registration of 3[asset reconstruction companies] Section 4: Section 4: Cancellation of certificate of registration Section 5: Section 5: Acquisition of rights or interest in financial assets Section 6: Section 6: Notice to obligor and discharge of obligation of such obligor Section 7: Section 7: Issue of security by raising of receipts or funds by 2[asset reconstruction company] Section 8: Section 8: Exemption from registration of security receipt Section 10: Section 10: Other functions of 1[asset reconstruction company] Section 11: Section 11: Resolution of disputes Section 12: Section 12: Power of Reserve Bank to determine policy and issue directions Section 13: Section 13: Enforcement of security interest Section 15: Section 15: Manner and effect of take over of management Section 16: Section 16: No compensation to directors for loss of office Section 17: Section 17: 2[Application against measures to recover secured debts] Section 18: Section 18: Appeal to Appellate Tribunal Section 20: Section 20: Central Registry Section 20B: Section 20B: Delegation of powers Section 21: Section 21: Central Registrar Section 22: Section 22: Register of securitisation, reconstruction and security interest transactions Section 24: Section 24: Modification of security interest registered under this Act Section 25: Section 25: 9[Asset reconstruction company] or secured creditors to report satisfaction of security interest Section 26: Section 26: Right to inspect particulars of securitisation, reconstruction and security interest transactions Section 26B: Section 26B: Registration by secured creditors and other creditors Section 26C: Section 26C: Effect of the registration of transactions, etc Section 26D: Section 26D: Right of enforcement of securities Section 26E: Section 26E: Priority to secured creditors Section 27: Section 27: Penalties Section 28: Section 28: [Penalties for non-compliance of direction of Reserve Bank.] Omitted by the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016(44 of 2016) s Section 29: Section 29: Offences Section 30B: Section 30B: Appeal against penalties Section 30C: Section 30C: Appellate Authority Section 30D: Section 30D: Recovery of penalties Section 31: Section 31: Provisions of this Act not to apply in certain cases Section 32: Section 32: Protection of action taken in good faith Section 33: Section 33: Offences by companies Section 34: Section 34: Civil court not to have jurisdiction Section 35: Section 35: The provisions of this Act to override other laws Section 36: Section 36: Limitation Section 37: Section 37: Application of other laws not barred Section 38: Section 38: Power of Central Government to make rules Section 39: Section 39: Certain provisions of this Act to apply after Central Registry is set up or cause to be set up Section 40: Section 40: Power to remove difficulties Section 41: Section 41: Amendments to certain enactments Section 42: Section 42: Repeal and saving