Asset Reconstruction Company Registration | JR Compliance
What is an Asset Reconstruction Company? Under the Companies Act, 2013, Asset Reconstruction Company is a specialised financial institution engaged in purchasing bad loans, NPAs from banks, and financial institutions to clean their balance sheet. Moreover, it acts as a bank recovery agent as it takes over the loans and advances from the bank and financial institutions for recovery. This company has been set up with an objective of securitization, and it also needs registration from RBI. Also, it is regulated by Section 3 of the SARFAESI Act, 2002.
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