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Securitisation Asset Reconstruction and Enforcement of Security Interests

Securitisation Asset Reconstruction and Enforcement of Security Interests

  • ₹2,995.00

In Stock
  • Author(s): Vinod Kothari
  • Publisher: LexisNexis
  • Edition: 6 Ed 2020
  • ISBN 13 9789389991468
  • Approx. Pages 1220 + contents
  • Format Hardbound
  • Approx. Product Size 24 x 16 cms
  • Delivery Time Normally 7-9 working days
  • Shipping Charge Extra (see Shopping Cart)

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Description
The advent of the SARFAESI Act in 2002, and that of the Insolvency and Bankruptcy Code (IBC) in 2016, together, introduced a phenomenal change in the way credit is perceived by businesses. SARFAESI sent an unmistakeable signal that if there are corporate assets or assets of guarantors backing a secured loan that has defaulted, the repossession of such assets by the creditor will be sure, speedy, and largely free of adjudicatory delays. IBC, with its powerful anti-defaulter stance in terms of section 29A, sent yet another signal - that if the borrower loses the faith of the creditors by a default, then, without even waiting for the non-performing status of the loan, the creditors may have to right to gain the control of the business of the borrower, and if the process of IBC gets initiated, the borrower will irretrievably lose his very business to the acquirer who comes through the process of the Code. Thus, what SARFAESI does to assets, IBC does to the entire business. The two legislations, of course, do not compete - the former is an individual remedy, while the latter is a collective remedy. The former is focused on foreclosure and sale, while the latter is focused on resolution, albeit by forcing a change in the management. The phenomenal change that we referred to is that borrowers' perceptions about leverage and security interest have undergone major change. It may take time to realize this, but this slow and certain change will have a long-lasting effect on businesses. Businesses will take proper capitalisation, debt servicing abilities and limits to leverage far more seriously than ever in the past. Additionally, the lines of distinction between unsecured credit, credit on generic assets backed by floating charges, and secured credit will emerge far clearer, as the regime of priorities gets settled.
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Contents
Part I  :  Introduction to Securitisation, Asset Reconstruction and
Enforcement of Security Interest

Chapter 1  :   Introduction to Securitisation
Chapter 2  :   The Indian Securitisation Market
Chapter 3  :   RBI's Guidelines on Securitisation of Performing Assets
Chapter 4  :   Taxation of Securitisation Transactions in India
Chapter 5  :   Non-Performing Loans-A Global Problem
Chapter 6  :   Asset Management Companies and Resolution of NPLs
Chapter 7  :   Non-Performing Loans-A Slew of Measures
Chapter 8  :   Asset Reconstruction Companies in India : Genesis and Performance
Chapter 9  :   Law and Practice of Asset Reconstruction in India
Chapter 10 :  Introduction to Global Laws on Security Interests
Chapter 11 :  Debt Recovery Law in India: An Overview
Part II  :  Securitisation and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002

Chapter 1   :   Preliminary
Chapter 2   :   Regulation of Securitisation and Reconstruction of Financial
                          Assets of Banks and Financial Institutions
Chapter 3   :   Enforcement of Security Interest
Chapter 4   :   Central Registry
Chapter 5   :   Offences and Penalties
Chapter 6   :   Miscellaneous
Part III  :  Subordinate Law (Rules, Directions, etc.) With Comments
1.   Security Interest (Enforcement) Rules, 2002
App. I : Panchnama        
App. II : Inventory
App. II A : Sale Notice
App. III : ertificate of Sale
App. IV : Possession Notice
App. IV A : Sale Notice
App. IV A : Form
App. VII : Application Under Sub-Section (1) of Section 17 to the Secularization and Reconstruction
                   of Fixed  Assets and Enforcement of Security Interest Act, 2002 
App. VIII : Application Under Sub-Section (6) of Section 17 of the Securitisation and Reconstruction 
                    of Financial Assets and Enforcement of Security Interest Act, 2002
App. IX : Appeal Under Section 18 of the Securitisation and Reconstruction of Financial Assets and
                 Enforcement of Security Interest Act, 2002
App. X : Application Under Sub-Section (1) of Section 17 Read with Sub-Section (4) of Section 17 of the Act
2.  Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central 
      Registry) Rules, 2011
3.  SAFAESI Act (Removal of Difficulties) Order, 2004 
Subject
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Author Details
Vinod Kothari :
Chartered Accountant, Chartered Secretary,
Director, Indian Securitisation Foundation, 
Mr. Vinod Kothari is a Chartered Accountant and a Company Secretary. He is internationally recognized as an author, trainer and consultant on specialized financial subjects, viz., housing finance, securitisation, credit derivatives, accounting for financial instruments, structured finance, banking regulations etc. He has delivered lectures and trained people on finance and securitization throughout the world. He leads his own firm Vinod Kothari and Company, which has its offices in Kolkata, Mumbai and Delhi. Currently, he holds the position of Director in Vinod Kothari Consultants Private Limited and Indian Securitization Foundation.
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