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

Section 26D. Right of enforcement of securities.

1[26D. Right of enforcement of securities.--Notwithstanding anything contained in any other law for the time being in force, from the date of commencement of the provisions of this Chapter, no secured creditor shall be entitled to exercise the rights of enforcement of securities under Chapter III unless the security interest created in its favour by the borrower has been registered with the Central Registry.]

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

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