asset reconstruction company asset reconstruction company india asset reconstruction company upsc asset reconstruction company (india) limited asset reconstruction meaning asset reconstruction company rbi asset reconstruction company investopedia asset reconstruction company wiki asset reconstruction and securitisation asset reconstruction and npa management in india asset reconstruction address pridhvi asset reconstruction and securitisation company ltd pridhvi asset reconstruction and securitisation company limited public asset reconstruction agency pridhvi asset reconstruction and securitisation asset reconstruction company auction a asset reconstruction company an asset reconstruction company in india is associated with the asset reconstruction start an asset reconstruction company asset reconstruction business asset reconstruction business in india asset reconstruction bank asset reconstruction company business model asset reconstruction company bangalore asset reconstruction company benefits asset reconstruction company books asset reconstruction company bill asset reconstruction company in delhi j.c. flowers asset reconstruction company j.c. flowers asset reconstruction private limited j.c. flowers asset reconstruction company (jcf arc) asset reconstruction division kotak asset reconstruction division asset reconstruction definition asset reconstruction company definition asset reconstruction company delhi asset reconstruction company debt kotak mahindra bank asset reconstruction division international asset reconstruction company delhi asset reconstruction example asset reconstruction edelweiss asset reconstruction company example asset care & reconstruction enterprise limited asset care & reconstruction enterprise limited (acre) asset care & reconstruction enterprise ltd asset reconstruction company edelweiss asset care & reconstruction enterprise asset reconstruction fund asset reconstruction fund wiki asset reconstruction firm asset reconstruction company functions asset reconstruction company funding asset reconstruction company fdi first asset reconstruction company in india asset reconstruction company net owned fund asset reconstruction company guidelines asset reconstruction company gktoday asset reconstruction company rbi guidelines encore asset reconstruction company gurgaon encore asset reconstruction company gurgaon address encore asset reconstruction company glassdoor global asset reconstruction companies asset reconstruction how it works asset reconstruction company how it works asset reconstruction company head asset reconstruction company hindi asset reconstruction companies in hyderabad asset reconstruction meaning in hindi asset reconstruction company the hindu how asset reconstruction company works in india asset reconstruction india asset reconstruction india limited asset reconstruction industry in india asset reconstruction images asset reconstruction importance asset reconstruction company in india asset reconstruction company (india) ltd asset reconstruction jobs asset reconstruction jobs in mumbai asset reconstruction company jobs jm asset reconstruction company jm asset reconstruction j m financial asset reconstruction j m financial asset reconstruction company j m financial asset reconstruction co. ltd j m financial asset reconstruction company limited asset reconstruction company in kolkata kotak asset reconstruction company kkr asset reconstruction company kotak asset reconstruction rare asset reconstruction limited asset reconstruction company limited rare asset reconstruction ltd suraksha asset reconstruction limited asset reconstruction company list rare asset reconstruction limited auctions asset reconstruction company ltd iifl asset reconstruction limited asset reconstruction meaning in tamil asset reconstruction management asset reconstruction mumbai asset reconstruction company meaning asset reconstruction company mumbai asset reconstruction fund meaning asset reconstruction company names asset reconstruction company nbfc asset reconstruction company news asset reconstruction company norms asset reconstruction company latest news asset reconstruction company in nehru place asset reconstruction process asset reconstruction pdf asset reconstruction private limited cfm asset reconstruction private limited suraksha asset reconstruction private limited asset reconstruction company ppt indiabulls asset reconstruction private limited rare asset reconstruction pvt. ltd asset reconstruction company quora asset reconstruction company registration asset reconstruction company regulations asset reconstruction company rbi regulations asset reconstruction company requirements asset reconstruction company rbi master circular asset reconstruction company registered with rbi are asset reconstruction companies nbfcs asset reconstruction services asset reconstruction sarfaesi act asset reconstruction services thane asset reconstruction services thane reviews asset reconstruction sector asset reconstruction summary asset reconstruction under sarfaesi act asset reconstruction company trust asset reconstruction company thane asset reconstruction company taxation top asset reconstruction companies in india asset reconstruction company uganda asset reconstruction company under sarfaesi act asset reconstruction companies in usa uv asset reconstruction company limited uv asset reconstruction company uv asset reconstruction u v asset reconstruction co. ltd u v asset reconstruction company alchemist asset reconstruction vs hotel gaudavan asset reconstruction wiki asset reconstruction working asset reconstruction company wikipedia asset reconstruction company working asset reconstruction company working model asset reconstruction company website asset reconstruction company (india) limited zauba top 5 asset reconstruction companies in india #assetreconstruction #assetreconstructioncompanies #assetreconstructioncompany #assetreconstructionfirm
Asset Reconstruction Company Registration
Asset Reconstruction
Company Registration
BY- HARSHIT SHARMA
WHY ASSET RECONSTRUCTION
COMPANIES?
WORKING OF ASSET
RECONSTRUCTION COMPANIES IN
INDIA
HISTORCIAL JOURNEY OF
SARFAESI & ARC’s IN INDIA
In 1997 by Government of India, the problem of
recovery from NPAs was recognized. In the
Narasimhan Committee Report it is mentioned
about the important aspect of the continuing
reform process was to reduce the high level of NPAs
as a means of banking sector reform. It was
expected that new NPAs in the future could afford
to be lower with the combination of policy and
institutional development.
ARC’s FOUNDATIONAL PRINCIPLES:
SHOWCASING THE FLOW OF WORK
Facilitating
Freeing the Financial
Isolating Non Performing development
System to work on Core
Loans (NPLs) of market for
Activities distressed
assets
Functions of Asset
Reconstruction Company (ARC)
• Enforcement
• of Security Interest • Change or takeover Acquisition of (as per section 13(4)
of Management /
financial assets (as • Rescheduling of of SRFAESI Act,
Sale or Lease of
defined u/s 2(L) of Debts; 2002)
Business of the
SARFAESI Act, 2002); Settlement of dues
Borrower;
payable by the
borrower.
Registration Process of Asset
Reconstruction Companies
Step-1: Obtaining Certificate of
Registration
Steps of Registration Cont.….
• STEP-2:
Having net owned fund of not less than two crore
rupees or such other amount not exceeding fifteen per
cent of total financial assets acquired or to be acquired
by the securitization company or reconstruction
company, as the Reserve Bank may, by notification,
specify.
Steps of Registration Cont.….
• STEP-3
Every securitization company or reconstruction company shall make an application
for registration to the Reserve Bank in such form and manner as it may specify.
• STEP-4
Reserve Bank of India may for the purpose of considering the application for
registration of asset Reconstruction Company requires to be satisfied by inspection
of records or books of such company.
OTHER CONDITIONS TO BE FULFILLED FOR ASSET
RECONSTRUCTION COMPANY TO GET DULY
REGISTERED
• Reconstruction
company has not
incurred losses in any of
the three preceding
financial years.
•Such reconstruction company has made adequate arrangements for realisation of
the financial assets acquired for the purpose of asset reconstruction and shall be
able to pay periodical returns and redeem on the investments on respective due
dates made in company by the qualified institutional buyers or other persons.
• Directors of the reconstruction
company have adequate professional
experience in matters related to finance,
securitization and reconstruction.
OTHER CONDITIONS TO BE FULFILLED FOR ASSET
RECONSTRUCTION COMPANY TO GET DULY
REGISTERED
• Board of directors of such reconstruction company do not consist more
than half of its total number of directors who are either nominees of any
sponsor or associated in any manner with the sponsor or any of its
subsidiaries.
• Any of the directors has not
been convicted of any offence
involving moral turpitude.
• Sponsor is not a holding company of the Securitization Company or
Reconstruction Company or does not otherwise hold any controlling
interest in such Securitization Company or reconstruction company
• Such securitization company or reconstruction company
has complied with or is in a position to comply with
prudential norms specified by the Reserve Bank of India.
THE FINAL STEP!
The Reserve Bank of IIndiia may after beiing satitisfified the condiititions speciifified iin sub-sectition (3) are fullfifilllled,, grant a certitifificate of
regiistratition to the securiititizatition company or the reconstructition company to commence or carry on busiiness of securiititizatition or
asset reconstructition,, subjject to such condiititions,, whiich iit may consiider,, fifit to iimpose..
The Reserve Bank may rejject the applliicatition made under sub-sectition (2) iif iit iis satitisfified that the condiititions speciifified iin sub-
sectition (3) are not fullfifilllled::
Proviided that before rejjectiting the applliicatition,, the applliicant shallll be giiven a reasonablle opportuniity of beiing heard..
Every securiititizatition company or reconstructition company shallll obtaiin priior approvall of the Reserve Bank of IIndiia,, whereby the
deciisiion of the Apex bank wiillll be Fiinall..
Comments