Asset Reconstruction company

This query is : Resolved 

14 March 2011 What is the process to form asset reconstruction company?

14 March 2011 Asset Reconstruction Company

ASSET RECONSTRUCTION COMPANIES ( ARCs), created under Section 3 of the "Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002". acquire NPAs / Stressed Assets from Banks and FIs.

The role played by ARCs is crucial in cleaning up the Balance Sheets of Banks and also in reviving the Sick / Non-Performing Companies, through Restructuring, to "Turn- around" and operate profitably.

RBI, SEBI and the Companies Act, 1956, have set the Guidelines under which an ARC can operate.

14 March 2011 See:Section 3 (Registration of securitisation companies or reconstruction compnaies.-) of the THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002

Link: http://www.legalindia.in/securitisation-act


Also see below links.

http://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=5847

http://www.indialawoffices.com/pdf/asset_reconstruction_process_companies.pdf





You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries