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Sec 24, SARFAESI Act 2002: Modification Of Security Interest Registered

Section 24 (Modification of security interest registered under this Act) under Chapter IV (Central Registry) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 —

Whenever the terms or conditions, or the extent or operation of any security interest registered under this Chapter are or is asset reconstruction company or the secured creditors, as the case may be, to send to the Central Registrar, the particulars of such modification, and the provisions of this Chapter as to registration of a security interest shall apply to such modification modified, it shall be the duty of the asset reconstruction company or the of such security interest.

Extra Notes for Readers

(1) Section 24 of SARFAESI Act, 2002 was modified by the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016 (Act 44 of 2016), sec. 3, (w.e.f. 1-Sep-2016).

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