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Sec 30B, SARFAESI Act 2002: Appeal Against Penalties

Section 30B (Appeal against penalties) under Chapter V (Offences and penalties) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 —

A person in default, aggrieved by an order passed under sub-section (4) of section 30A, may, within a period of thirty days from the date on which such order is passed, prefer an appeal to the Appellate Authority:

Provided that the Appellate Authority may entertain an appeal after the expiry of the said period of thirty days, if it is satisfied that there was sufficient cause for not filing it within such period.




Extra Notes for Readers

(1) Section 30B of SARFAESI Act, 2002 was inserted by the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016 (Act 44 of 2016), sec. 21, (w.e.f. 1-Sep-2016).

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