for securitisation companypany or a reconstruction companypany by Act 44 of 2016, S. 3 i w.e.f.
for Ordinance by S.O. 103 E , dated 2 2 2007 w.e.f.
4 11 2016 .
Having said this, the Court went on to examine the 2002 Rules and held Thus, Rule 8 deals with the stage anterior to the issuance of sale certificate and delivery of possession under Rule 9.
Explanation.
15 1 2013 .
for Right to appeal by Act 44 of 2016, S. 14 i w.e.f.
for sub sections 2 and 3 by Act 30 of 2004, S. 10 w.r.e.f.
for When the management of business of a borrower is taken over by a secured creditor by Act 30 of 2004, S. 9 w.r.e.f.
3 11 2016 w.e.f.
reasons for number acceptance of the representation or objection to the borrower Provided that the reasons so companymunicated or the likely action of the secured creditor at the stage of companymunication of reasons shall number companyfer any right upon the borrower to prefer an application to the Debts Recovery Tribunal under Section 17 or the Court of District Judge under Section 17 A. In case the borrower fails to discharge his liability in full within the period specified in sub section 2 , the secured creditor may take recourse to one or more of the following measures to recover his secured debt, namely a take possession of the secured assets of the borrower including the right to transfer by way of lease, assignment or sale for realising the secured asset b take over the management of the business of the borrower including the right to transfer by way of lease, assignment or sale for realising the secured asset Provided that the right to transfer by way of lease, assignment or sale shall be exercised only where the substantial part of the business of the borrower is held as security for the debt Provided further that where the management of whole, of the business or part of the business is severable, the secured creditor shall take over the management of such business of the borrower which is relatable to the security for the debt Subs.
1 9 2016 .
for may prefer an appeal by Act 30 of 2004, S. 10 w.r.e.f.
Till the time of issuance of sale certificate, the authorised officer is like a Court Receiver under Order 40 Rule 1 CPC.
11 11 2004 .
21 6 2002 .
11 11 2004 .
3 11 2016 w.e.f.
11 11 2004 .
by Act 30 of 2004, S. 10 w.r.e.f.
2 2 2007 .
21 6 2002 .
borrower, aggrieved by any of the measures referred to in sub section 4 of Section 13 taken by the secured creditor or his authorised officer under this chapter, 9may make an application along with such fee, as may be prescribed, to the Debts Recovery Tribunal having jurisdiction in the matter within forty five days from the date on which such measure had been taken Provided that different fees may be prescribed for making the application by the borrower and the person other than the borrower.
F. NARIMAN, J. Leave granted.
11 11 2004 .
1 9 2016 .
by Act 30 of 2004, S. 8 w.r.e.f.
11 11 2004 .
by Act 30 of 2004, S. 8 w.r.e.f.
for Rule 9 by G.S.R. 1046 E , dt.
for within one week by Act 1 of 2013, S. 5 a w.e.f.
1 9 2016 .
by G.S.R. 1046 E , dt.
