In force · As amended up to 2026-08
24. Modification of security interest registered under this Act.— Whenever the terms or conditions, or the extent or operation of any security interest registered under this Chapter are or is 7[asset reconstruction company] or the secured creditors, as the case may be, to send to the Central Registrar, the particulars of such modification, and the provisions of this Chapter as to registration of a security interest shall apply to such modification modified, it shall be the duty of the[8] [asset reconstruction company] or the of such security interest.
25.[9] [ Asset reconstruction company ] or secured creditors to report satisfaction of security interest.— (1) The[9] [asset reconstruction company] or the secured creditors as the case may be, shall give intimation to the Central Registrar of the payment or satisfaction in full, of any security interest relating to the[10] [asset reconstruction company] or the secured creditors and requiring registration under this Chapter, within thirty days from the date of such payment or satisfaction.
1. Section 23 numbered as sub-section (1) by Act 44 of 2016, s. 17 (w.e.f. 24-1-2020).
2.The certain words omitted by s. 17, ibid . (w.e.f. 24-1-2020).
3. The proviso omitted by s. 17, ibid . (w.e.f. 24-1-2020).
4. Ins. by Act 1 of 2013, s.8 (w.e.f. 15-5-2013).
Source: India Code