Search results
Results from the WOW.Com Content Network
By virtue of the SARFAESI Act 2002, the Reserve Bank of India has the authority to register and regulate Asset Reconstruction Companies (ARCs). Under this act secured creditors (banks or financial institutions) have many rights for enforcement of security interest under section 13 of SARFAESI Act, 2002.
CERSAI is owned by the Indian Central Government, Public Sector Banks and National Housing Bank for the purpose of operating a Registration System under the provisions of Chapter IV of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. (SARFAESI Act).
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [2]
The most recent version of the Act is the Uniform Securities Act of 2002 which was last revised in 2005. [ 5 ] [ 6 ] As of January 2009 [update] , the 2002 Act has been enacted in Georgia , Hawaii , Idaho , Indiana , Iowa , Kansas , Maine , Minnesota , Missouri , Oklahoma , South Carolina , South Dakota , Vermont , Wisconsin and the US Virgin ...
Generally speaking, once a security interest is effectively created, it gives certain rights to the holder of the security and imposes duties on the party who grants that security. [2] However, in many legal systems, additional steps --- perfection of the security interest --- are required to enforce the security against third parties such as a ...
It was amended in the years 1995, 1999, and 2002 to meet the requirements of changing needs of the securities market. It was the 15th Act of 1992. The Act provides for the establishment of Securities and Exchange Board of India following the Harshad Mehta scam. The Act contains 10 Chapters and 91 Sections. [1]
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
The Sarbanes–Oxley Act of 2002 is a United States federal law that mandates certain practices in financial record keeping and reporting for corporations.The act, Pub. L. 107–204 (text), 116 Stat. 745, enacted July 30, 2002, also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and ...