Section 27 SARFAESI ACT, 2002 (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002): Penalties.
Penalties.—If a default is made—
(a) in filing under section 23, the particulars of every transaction of any securitisation or asset reconstruction or security interest created by a securitisation company or reconstruction company or secured creditor; or
(b) in sending under section 24, the particulars of the modification referred to in that section; or
(c) in giving intimation under section 25, every company and every officer of the company or the secured creditor and every officer of the secured creditor who is in default shall be punishable with fine which may extend to five thousand rupees for every day during which the default continues.
About us:
Verma Law Associates is an offspring of Advocate Anoop Verma and other experienced Advocates/Lawyers.
At our law firm, we are dedicated to providing top-tier legal services for a wide range of legal matters. Our advocates specialize in
Criminal Law,
Banking Law/DRT,
Civil Law,
Family Disputes,
Consumer Laws,
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Motor Accident Claims,
Property Law;
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