Section 25, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29-VV5]
As at 7 September 2026. In force from 16 March 2020.
25. Registration of secureds creditor.—(1) Every secured creditor shall, within seven days from the commencement of this Act or, where such person begins the enforcement of security interest after such commencement, within seven days from the date of such beginning, make an application for registration to the Reserve Bank in Form B, accompanied by a fee of two thousand rupees. (2) The Reserve Bank shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No secured creditor shall carry on the enforcement of security interest unless registered under this section.
Defined terms in this text (2)
Reserve Bank: Section 2, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29V4Y] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
security interest: Section 2, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29V4Y] (In this Act, unless the context otherwise requires,—): "security interest" means right, title or interest of any kind upon property created in favour of a secured creditor
security interest: 17 more definitions.
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