Secured Creditor
Legal definition for Indian law research
Definition
Secured creditor, means any bank or financial institution or any consortium or group of banks or financial institutions and includes, (i) debenture trustee appointed by any bank or financial institution; or (ii) securitisation company or recon-struction company; or (iii) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due repayment by any borrower of any financial assistance. [Securitisation and Recon-struction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zd)]
Secured creditor, means any bank or financial institution or any consortium or group of banks or financial institutions and includes--
(i) debenture trustee appointed by any bank or financial institution; or
(ii) securitization company or reconstruction company; or
(iii) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due repayment by any borrower of any financial assistance. [The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, s. 2(zd)]
Secured creditor, means any bank or financial institution or any consortium or group of banks or financial institutions and includes--
(i) debenture trustee appointed by any bank or financial institution; or
(ii) securitization company or reconstruction company; or
(iii) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due repayment by any borrower of any financial assistance. [The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, s. 2(zd)]
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.