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Section 11 of Sarfaesi Act - Resolution of disputes

Section 11 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 : Resolution of disputes

Where any dispute relating to securitisation or reconstruction or non-payment of any amount due including interest arises amongst any of the parties, namely, the bank, or financial institution, or *[asset reconstruction company] or **[qualified buyer], such dispute shall be settled by conciliation or arbitration as provided in the Arbitration and Conciliation Act, 1996 (26 of 1996), as if the parties to the dispute have consented in writing for determination of such dispute by conciliation or arbitration and the provisions of that Act shall apply accordingly.

 

 

 

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*Subs. by Act 44 of 2016, s. 3, for "securitisation company or reconstruction company" (w.e.f. 1-9-2016)

**Subs. by s. 3, ibid., for "qualified institutional buyer" (w.e.f. 1-9-2016)

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