Section 12 SARFAESI ACT, 2002 (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002): Power of Reserve Bank to determine policy and issue directions.

Section 12 SARFAESI ACT, 2002 (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002): Power of Reserve Bank to determine policy and issue directions.

Power of Reserve Bank to determine policy and issue directions.—
(1) If the Reserve Bank is satisfied that in the public interest or to regulate financial system of the country to its advantage or to prevent the affairs of any securitisation company or reconstruction company from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such securitisation company or reconstruction company, it is necessary or expedient so to do, it may determine the policy and give directions to all or any securitisation company or reconstruction com­pany in matters relating to income recognition, accounting standards, making provisions for bad and doubtful debts, capital adequacy based on risk weights for assets and also relating to deployment of funds by the securitisation company or reconstruction company, as the case may be, and such company shall be bound to follow the policy so determined and the directions so issued.
(2) Without prejudice to the generality of the power vested under sub-section (1), the Reserve Bank may give directions to any securitisation company or reconstruction com­pany generally or to a class of securitisation companies or reconstruction companies or to any securitisation company or reconstruction company in particular as to—
(a) the type of financial asset of a bank or financial institution which can be acquired and procedure for acquisition of such assets and valuation thereof;
(b) the aggregate value of financial assets which may be acquired by any securitisation company or reconstruction company.

 

About us:

Verma Law Associates is an offspring of Advocate Anoop Verma and other experienced Advocates/Lawyers.

At our law firm, we are dedicated to providing top-tier legal services for a wide range of legal matters. Our advocates specialize in

Criminal Law,

Banking Law/DRT,

Civil Law,

Family Disputes,

Consumer Laws,

Service Law/Service Matters,

Company Law/NCLT,

Motor Accident Claims,

Property Law;

Our team of experienced and skilled advocates possesses a deep understanding of the complex legal landscape and is committed to providing our clients with the highest level of personalized attention and support.

We take great pride in our ability to deliver exceptional results for our clients. Our mission is to help our clients navigate the legal system with confidence and ease, regardless of the complexity of their case. We understand that legal disputes can be stressful and overwhelming, and we work tirelessly to ensure that our clients are fully informed and comfortable throughout the legal process.

Our commitment to excellence extends beyond our legal services. At our law firm, we believe in building lasting relationships with our clients based on trust, transparency, and accountability. We strive to create a collaborative and supportive environment that fosters innovation, creativity, and a commitment to excellence in everything we do.

When you choose our law firm, you can rest assured that you are in good hands. We are dedicated to providing our clients with the highest level of personalized attention and support, and we are committed to helping you achieve the best possible outcome for your legal matter.

Have a Question? Schedule a Consultation.

Contact Us.

 

Leave a Reply