Legal glossary

“borrower”

Defined in 3 Acts. A definition holds for the Act that gives it; the same word can mean something else in another Act.
  1. The National Housing Bank Act, 1987 · s. 36C

    (d) "borrower" means any person to whom any assistance has been given by an approved institution for the purposes of purchase, construction, repairs, extension or renovation of a residential house;
    Read section 36C
  2. The Reserve Bank of India Act, 1934 · s. 45A

    (b) "borrower" means any person to whom any credit limit has been sanctioned by any banking — company, whether availed of or not, and includes
    Read section 45A
  3. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 · s. 2

    (f) "borrower" means[1] [any person who, or a pooled investment vehicle as defined in clause (da) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) which,] has been granted financial assistance by any bank or financial institution or who has given any guarantee or created any mortgage or pledge as security for the financial assistance granted by any bank or financial institution 2[and includes a person who, or a pooled investment vehicle which,] becomes borrower of a 3[asset reconstruction company] consequent upon acquisition by it of any rights or interest of any bank or financial institution in relation to such financial assistance[4] [or who has raised funds through issue of debt securities];
    Read section 2