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Start Free TrialEnforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Chapter 2
Title: Amendments to the Securitisation and Reconstructionof Financial Assets and Enforcement of Security Interest Act, 2002
State: Central
Year: 2004
.....section 18 or section 18A, holds that the possession of secured assets by the secured creditor is not in accordance with the provisions of this Act and rules made thereunder and directs the secured creditors to return such secured assets to the concerned borrowers, such borrower shall be entitled to the payment of such compensation and costs as may be determined by such Tribunal or Court of District Judge or Appellate Tribunal or the High Court referred to in section 18B.". Section 15 - Amendment of section 25 In section 25 of the principal Act,-- (a) after sub-section (1), the following sub-section shall be inserted, namely:-- "(1A) On receipt of intimation under sub-section (1), the Central Registrar shall order that a memorandum of satisfaction shall be entered in the Central Register." (b) in sub-section (2), for the words "The Central Registrar shall, on receipt of such intimation", the words, brackets and figures "If the concerned borrower gives an intimation to the Central Registrar for not recording the payment or satisfaction referred to in sub-section (1), the Central Registrar shall on receipt of such intimation" shall be substituted. Section 16 -.....
View Complete Act List Judgments citing this sectionEnforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Preamble 1
Title: Enforcement of Security Interestand Recovery of Debts Laws (Amendment) Act, 2004
State: Central
Year: 2004
The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 [Act No. 30 of 2004] An Act To amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and further to amend the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and the Companies Act, 1956. Be it enacted by Parliament in the Fifty-fifth Year of the Republic of India as follows :-
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 2004 Preamble 1
Title: Securities Laws (Amendment) Act, 2004
State: Central
Year: 2004
THE SECURITIES LAWS (AMENDMENT) ACT, 2004 [Act, No. 1 of 2005] [6th January, 2005] PREAMBLE A Act further to amend the Securities Contracts (Regulation) Act, 1956 and the Depositories Act 1996. Be it enacted by Parliament in the Fifty Fifth year of Republic of India as follows:-
View Complete Act List Judgments citing this sectionEnforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Complete Act
Title: Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004
State: Central
Year: 2004
Preamble1 - ENFORCEMENT OF SECURITY INTEREST AND RECOVERY OF DEBTS LAWS (AMENDMENT) ACT, 2004 Chapter 1 Section1 - Short title and commencement Chapter 2 Section2 - Amendment of section 2 Section3 - Amendment of section 3 Section4 - Amendment of section 4 Section5 - Insertion of new section 5A Section6 - Amendment of section 7 Section7 - Insertion of new section 12A Section8 - Amendment of section 13 Section9 - Amendment of section 15 Section10 - Amendment of section 17 Section11 - Insertion of new section 17A Section12 - Amendment of section 18 Section13 - Insertion of new sections 18A and 18B Section14 - Substitution of new section for section 19 Section15 - Amendment of section 25 Section16 - Amendment of section 28 Section17 - Amendment of section 31 Section18 - Amendment of section 38 Chapter 3 Section19 - Amendment of section 2 Section20 - Amendment of section 19 Chapter 4 Section21 - Amendment of section 4A Section22 - Amendment of section 424A Chapter 5 Section23 - Repeal and saving
List Judgments citing this sectionSecurities Laws (Amendment) Act, 2004 Complete Act
Title: Securities Laws (Amendment) Act, 2004
State: Central
Year: 2004
Preamble1 - SECURITIES LAWS (AMENDMENT) ACT, 2004 Chapter 1 Section1 - Short title and commencement Chapter II Section2 - Amendment of Section 2 Section3 - Insertion of new Sections 4A and 4B Section4 - Amendment of Section 5 Section5 - Insertion of new Section 8A Section6 - Insertion of new Section 12A Section7 - Amendment of Section 13 Section8 - Insertion of new Section 21A Section9 - Substitution of new Section for Section 22F Section10 - Amendment of Section 23 Section11 - Insertion of new Sections 23A to 23O Section12 - Amendment of Section 25 Section13 - Substitution of new Section for Section 26 Section14 - Insertion of new Section 27B Section15 - Amendment of Section 30 Section16 - Insertion of New Section 31 Chapter III Section17 - Insertion of new Sections 19A, 19B, 19C, 19D, 19E, 19F, 19G, 19H, 19-I and 19J Section18 - Substitution of new Section for Section 20 Section19 - Substitution of new Sections for Section 22 Section20 - Amendment of Section 23A Section21 - Substitution of new Section for Section 23F Section22 - Amendment of Section 24 Chapter IV Section23 - Repeal and Saving
List Judgments citing this sectionSecurities Laws (Amendment) Act, 2004 Chapter II
Title: Amendments to the Securities Contracts (Regulation) Act, 1956
State: Central
Year: 2004
In Section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Chapter referred to as the principal Act),- (i) clause (aa) shall be re-lettered as clause (ac) thereof and before the clause (ac) as so re-lettered, the following clauses shall be inserted, namely:- '(aa) "corporatisation" means the succession of a recognised stock exchange, being a body of individuals or a society registered under the Societies Registration Act, 1860 (21 of 1860), by another stock exchange, being a company incorporated for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities carried on by such individuals or society; (ab) "demutualisation" means the segregation of ownership and management from the trading rights of the members of a recognised stock exchange in accordance with a scheme approved by the Securities and Exchange Board of India; (ii) clause (ga) shall be re-lettered as clause (gb) thereof and before the clause (gb) as so re-lettered, the following clause shall be inserted, namely:- '(ga) "scheme" means a scheme for corporatisation or demutualisation of a recognised stock exchange which may.....
View Complete Act List Judgments citing this sectionEnforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Section 17
Title: Amendment of Section 31
State: Central
Year: 2004
In section 31 of the principal Act, in clause (g), for the words "any properties not liable to attachment", the words and brackets "any properties not liable to attachment (excluding the properties specifically charged with the debt recoverable under this Act)" shall be substituted.
View Complete Act List Judgments citing this sectionEnforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Section 10
Title: Amendment of Section 17
State: Central
Year: 2004
.....security are in accordance with the provisions of this Act and the rules made thereunder. (3) If, the Debts Recovery Tribunal, after examining the facts and circumstances of the case and evidence produced by the parties, comes to the conclusion that any of the measures referred to in sub-section (4) of section 13, taken by the secured creditor are not in accordance with the provisions of this Act and the rules made thereunder, and require restoration of the management of the business to the borrower or restoration of possession of the secured assets to the borrower, it may by order, declare the recourse to any one or more measures referred to in sub-section (4) of section 13 taken by the secured creditors as invalid and restore the possession of the secured assets to the borrower or restore the management of the business to the borrower, as the case may be, and pass such order as it may consider appropriate and necessary in relation to any of the recourse taken by the secured creditor under sub-section (4) of section 13. (4) If, the Debts Recovery Tribunal declares the recourse taken by a secured creditor under sub-section (4) of section 13, is in accordance with the.....
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 2004 Section 3
Title: Insertion of New Sections 4a and 4b
State: Central
Year: 2004
.....of 1956), or any other law for the time being in force, have full effect. (8) Every recognised stock exchange, in respect of which the scheme for corporatisation or demutualisation has been approved under sub-Section (2), shall, either by fresh issue of equity shares to the public or in any other manner as may be specified by the regulations made by the Securities and Exchange Board of India, ensure that at least fifty-one per cent. of its equity share capital is held, within twelve months from the date of publication of the order under sub-Section (7), by the public other than shareholders having trading rights: Provided that the Securities and Exchange Board of India may, on sufficient cause being shown to it and in the public interest, extend the said period by another twelve months.'.
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 2004 Section 6
Title: Insertion of New Section 12a
State: Central
Year: 2004
After Section 12 of the principal Act, the following Section shall be inserted, namely:- "12A. Power to issue directions.-- If, after making or causing to be made an inquiry, the Securities and Exchange Board of India is satisfied that it is necessary - (a) in the interest of investors, or orderly development of securities market; or (b) to prevent the affairs of any recognised stock exchange, or, clearing corporation, or such other agency or person, providing trading or clearing or settlement facility in respect of securities, being conducted in a manner detrimental to the interests of investors or securities market; or (c) to secure the proper management of any such stock exchange or clearing corporation or agency or person, referred to in clause (b), it may issue such directions, - (i) to any stock exchange or clearing corporation or agency or person referred to in clause (b) or any person or class of persons associated with the securities market; or (ii) to any company whose securities are listed or proposed to be listed in a recognised stock exchange, as may be appropriate in the interests of investors in securities and the securities market.".
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