Asset Reconstruction - Law Dictionary Search Results
Home Dictionary Name: asset reconstructionAsset reconstruction
Asset reconstruction, means acquisition by any securitistion company or reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realisation of such financial assistance. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2 (1) (b)]...
Reconstruction company
Reconstruction company, means a company formed and registered under the Companies Act, 1956 (1 of 1956) for the purpose of asset reconstruction. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(v)]Reconstruction of a company, upon a voluntary winding-up the company may sell its undertaking for property of (including profits in) the purchas-ing company; see Companies Act, 1929, s. 234....
Originator
Originator, means the owner of a financial asset which is acquired by a securitisation company or reconstruction company for the purpose of securiti-sation or asset reconstruction. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(r)]...
Non-performing asset
Non-performing asset, means an asset or account of a borrower, which has been classified by a bank or financial institution as sub-standard, doubtful or loss asset, in accordance with the directions or under guidelines relating to assets classifications issued by the Reserve Bank. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2 (1) (o)]...
Financial asset
Financial asset, means debt or receivables and includes--(i) a claim to any debt or receivables or part thereof, whether secured or unsecured; or(ii) any debt or receivables secured by, mortgage of, or charge on, immovable property; or(iii) a mortgage, charge, hypothecation or pledge of movable property; or(iv) any right or interest in the security, whether full or part underlying such debt or receivables; or(v) any beneficial interest in property, whether movable or immovable, or in such debt, receivables, whether such interest is existing, future, accruing, conditional or contingent; or(vi) any financial assistance. [Securitisation and Reconstruction of Financial Assets and Enforce-ment of Security Interest Act, 2002 (54 of 2002), s. 2(1)(l)]...
Reconstructive
Reconstructing tending to reconstruct as a reconstructive policy...
asset
asset [back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez enough] 1 : the entire property of a person, business organization, or estate that is subject to the payment of debts used in pl. compare equity 2 : an item of property owned admitted asset : an asset allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry appointive asset : an asset in an estate that is to be distributed under a power of appointment capital asset : a tangible or intangible long-term asset esp. that is not regularly bought or sold as part of the owner's business ;specif : any asset classified as a capital asset by law (as section 1221 of the Internal Revenue Code) cur·rent asset : a short-term asset (as inventory, an account receivable, or a note) that can be quickly converted into cash equitable asset : an asset esp. in an estate that is sub...
Demolish or reconstruct
Demolish or reconstruct, Demolition involves the physical act of destruction and reconstruction is equivalent to rebuilding, and contemplates a state of affairs where there has been a measure of demolition falling short of total demolition, Ivorygrove Ltd. v. Global Grange Ltd., (Ch D), (2003) 1 WLR 2090....
Reconstruction
Reconstruction, means 'repair' and construction of a property undertaken after a disaster. [The Gujarat State Disaster Management Act, 2003, s. 2(p)]Reconstruction, means construction or restoration of any property after a disaster. [The Disaster Man-agement Act, 2005, s. 2(o)]...
Reconstruction of business
Reconstruction of business, Reconstruction of business involves the idea of substantially the same persons carrying on substantially the same busi-ness, Textile Machinery Corporation Ltd. v. Commissioner of Income Tax, West Bengal, AIR 1977 SC 1134 (1140): (1997) 2 SCC 368. [Income Tax Act, 1922, s. 15(C)]...
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