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SECURITY INTEREST (ENFORCEMENT) RULES, 2002

In exercise of the powers conferred by subsection (1) and CL (b) of sub-section (2) of Sec. 38 read with sub-sections (4), (10) and (12) of Sec. 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), the Central Government hereby makes the following rules, namely:


INDEX

1. Short title and commencement
2. Definitions
3. Demand notice
3A. Reply to Representation of the borrower
4. Procedure after issue of notice
5. Valuation of movable secured assets
6. Sale of movable secured assets
7. Issue of certificate of sale
8. Sale of immovable secured assets
9. Time of sale, issue of sale certificate and delivery of possession, etc.
10. Appointment of Manager
11. Procedure for recovery of shortfall of secured debt
12. Application to the Tribunal / Appellate Tribunal
13. Fees for applications and appeals U/s 17 and 18 of Act

Appendix
  1. Panchanama
  2. Inventory
  3. Certificate of Sale
  4. Possession Notice
  5. Sale Certificate
  6. Application U/s.13(1 0)
  7. Application U/s (1 ) of Section 17
  8. Application U/s (6) of Section 17
  9. Appeal under Section 18










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