Securitisation - Law Dictionary Search Results
Home Dictionary Name: securitisationSecuritisation
Securitisation, means acquisition of financial assets by any securitisation company or reconstruction company from any originator, whether by raising of funds by such securitisation company or recon-struction company from qualified institutional buyers by issue of security receipts representing undivided interest in such financial assets or otherwise. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(z)]...
Securitisation company
Securitisation company, means any company formed and registered under the Companies Act, 1956 (1 of 1956) for the purpose of securitisation. [Securitisation and Reconstruction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (za)]...
Scheme
Scheme, a 'scheme' is a carefully arranged and systematic programme of action. A transaction under which, one party deposits with the other or lends to that other a sum of money on promise of being paid interest at a rate higher than the agreed rate of interest cannot, without more, be a money circulation scheme' within the meaning of s. 2(c) of the Act, howsoever high the promised rate of interest may be in comparison with the agreed rate, State of West Bengal v. Swapan Kumar Guha, AIR 1982 SC 949 (953): (1982) 1 SCC 561: (1982) 3 SCR 121.Means a scheme inviting subscription to security receipt proposed to be issued by a securitisation company or reconstruction company under that scheme. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(y)]1. A systematic plan; a connected or orderly arrangement, esp. of related concepts 2. An artful plot or plan usu. to deceive others, Black's Law Dictionary, 7th Edn., p. 1346....
Secured creditor
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 r...
Security receipt
Security receipt, means a receipt or other security, issued by a securitisation company or reconstruc-tion company to any qualified institutional buyer pursuant to a scheme, evidencing the purchase or acquisition by the holder thereof, of an undivided right, title or interest in the financial asset involved in securitisation. [Securitisation and Reconstruc-tion of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1)(zg)]...
Borrower
Borrower, means any person who has been granted loan or any other credit facility by a credit institution and includes a client of a credit institution [Credit Information Companies (Regulation) Act, 2005 (30 of 2005), s. 2(b)]--Means any person who has been granted financial assistance by any bank or financial institution or who has given any guarantee or created any mortgage or pledge as security for the financial assistance granted by any bank or financial institution and includes a person who becomes borrower of a securitisation company or recon-struction company consequent upon acquisition by it of any rights or interest of any bank of financial institution in relation to such financial assistance. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, s. 2(1) (f)] The expression 'borrower' in s. 7 need not be given a restricted meaning merely because the Act applies to all communities. Hence a father who is the Karta of the Joint fa...
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)]...
Asset 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)]...
Bank
Bank, Commercially it is a place where money is deposited for the purpose of being lent out at interest, returned by exchange, disposed of to profit, or to be drawn out again as the owner shall call for it. Special provisions are contained in the (English) Companies Act, 1929 relating to Banks. By s. 358, no company, association or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of balance sheets, see s. 129 and ANNUAL RETURNS, ss. 108 and 361. See also JOINT STOCK BANKS and LIMITED LABILITY, and consult Grant, Paget, or Walker on Banking, Chitty's Statutes, tit. 'Bank.'Means financial institution engaged in the accepting of deposits of money, granting...
Banking company
Banking company, shall have same meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949) [Income Tax Act, 1961 (43 of 1961), s. 47 (vi-aa) Exp. (i).]--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949)...
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