This notification, S.O. 856(E), issued by the Ministry of Finance, Department of Financial Services on February 24, 2020, specifies Non-Banking Financial Companies (NBFCs) with assets of Rupees one hundred crore and above as financial institutions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. This specification entitles these NBFCs to enforce security interest in secured debts of Rupees fifty lakh and above. This notification supersedes previous notifications S.O. 2641(E) dated August 5, 2016, S.O. 4176(E) dated August 27, 2018, and S.O. 5391(E) dated October 24, 2018, except for actions taken or omitted before this supersession. The relevant section of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is sub-clause (iv) of clause (m) of sub-section (1) of section 2. The relevant section of the Reserve Bank of India Act, 1934 is clause (f) of section 45I. The issuing authority is Jt. Secy Vandita Kaul, F. No. 31522018-DRT.
Key Entities Referenced
Ministry of Finance: A department of the Government of India.
New Delhi: The location where the notification was issued, New Delhi, Delhi
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: An Indian law related to securitization and reconstruction of financial assets.
Reserve Bank of India Act, 1934: An Indian law governing the Reserve Bank of India.
Central Government: The executive authority in India.
VANDITA KAUL: Jt. Secy. Ministry of Finance
Department of Financial Services: A department under the Ministry of Finance.
non banking financial companies: Companies defined in clause f of section 45I of the Reserve Bank of India Act, 1934
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99
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सी.जी.-डी.एलxx.x-GअI.D-E2x5x0x 22020-216392
CG-DL-E-25022020-216392
असाधारण
EXTRAORDINARY
भाग II—खण्ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 783] नई ददल्ली, मगं लिार, फरिरी 25, 2020/फाल्ग नु 6, 1941
No. 783] NEW DELHI, TUESDAY, FEBRUARY 25, 2020/PHALGUNA 6, 1941
जित्त मत्रं ालय
(जित्तीय सिे ाएं जिभाग)
अजधसचू ना
नई ददल्ली, 24 फरिरी, 2020
का.आ. 856(अ).—केन्द्रीय सरकार, जित्तीय आजस्ट्तयों का प्रजतभूजतकरण और पनु गगठन तथा प्रजतभूजत जित
का प्रितगन अजधजनयम, 2002 (2002 का 54) की धारा 2 की उप-धारा (1) के खंड (ड) के उप-खंड (iv) द्वारा प्रदत्त
िजियों का प्रयोग करते हुए और भारत सरकार, जित्त मंत्रालय की अजधसूचना सं. का.आ. 2641(अ), 05 अगस्ट्त,
2016, का.आ. 4176(अ), 27 अगस्ट्त, 2018 और का.आ. 5391(अ), 24 अिूबर, 2018 को अजधक्ांत करत े हुए,
जिन्द्ि ें अजधक्मण स े पिल े दकया गया ि ै या करने का लोप दकया गया ि ै भारतीय ररिि ग बैंक अजधजनयम, 1934
(1934 का (2) की धारा 45-झ के खंड (च) में यथा जनधागररत एक सौ करोड़ रुपए या उससे अजधक की आजस्ट्त िाली
ऐसी गैर-बैंककारी जित्तीय कंपजनयों िो पचास लाख रुपए और उससे अजधक के सभी प्रजतभूत ऋणों के संबंध म ें
प्रजतभूजत जित को लाग ू करने के जलए िकदार िोंगी, को उि अजधजनयम के प्रयोिनों के जलए जित्तीय संस्ट्थाओं के रूप
में जिजनर्ददष्ट करती ि।ै
[फा. सं. 31/52/2018-डीआरटी]
िंददता कौल, संयुि सजचि
1124 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 24th February, 2020
S.O. 856(E).—In exercise of the powers conferred by sub-clause (iv) of clause (m) of sub-
section (1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002 (54 of 2002), and in supersession of the notifications of the Government
of India, Ministry of Finance numbers S.O. 2641(E), dated the 5th August, 2016, S.O. 4176 (E) dated
the 27th August, 2018, and S.O. 5391(E) dated 24th October, 2018, except as respects things done or
omitted to be done before such supersession, the Central Government hereby specifies such non-
banking financial companies as defined in clause (f) of section 45-I of the Reserve Bank of India Act,
1934 (2 of 1934), having assets worth rupees one hundred crore and above, which shall be entitled for
enforcement of security interest in secured debts of rupees fifty lakh and above, as financial
institutions for the purposes of the said Act.
[F. No. 31/52/2018-DRT]
VANDITA KAUL, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.