After the appropriate haircuts are the Arcs set up to obtain bad loans from banks and financial institutions and issue security receipts (SRS).
In the notification of the Gazette issued on February 28, SEBI said, “All NBFCs, including HFCs regulated by the Reserve Bank India F India (RBI), should be given to the SARFAC Act (Security and Reconciliation of Security Security Interests of Security. The Intersa Act, 2002 (2002) has been specified as “.
This comes with safety to avoid defaulting promoters by claiming property protected by SRS.
“The NBFC, including HFC, will have to ensure that defaulting promoters, including HFC, or their concerned parties, directly or indirectly get access to secure property, such as NBFCS, such as HFC, such as RBI, such as RBI can specify on time.”
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According to the Surfacey Act, only qualified buyers can invest in security receipts.
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