Notwithstanding anything contained in sub-section (1) of section 17 of the Registration Act, 1908 (16 of 1908),- (a) any security receipt issued by the 1[asset reconstruction company], as the case may be, under sub-section (1) of section 7, and not creating, declaring, assigning, limiting or extinguishing any right, title or interest, to or in immovable property except in so far as it entitles the holder of the security receipt to an undivided interest afforded by a registered instrument; or (b) any transfer of security receipts, shall not require compulsory registration.
Section 3 Registration of asset reconstruction companies
Section 4 Cancellation of certificate of registration
Section 5 Acquisition of rights or interest in financial assets
Section 5A Transfer of pending applications to any one of Debts Recovery Tribunals in certain cases
Section 6 Notice to obligor and discharge of obligation of such obligor
Section 7 Issue of security by raising of receipts or funds by asset reconstruction company
Section 8 Exemption from registration of security receipt
Section 9 Measures for assets reconstruction
Section 10 Other functions of asset reconstruction company
Section 11 Resolution of disputes
Section 12 Power of Reserve Bank to determine policy and issue directions
Section 12A Power of Reserve Bank to call for statements and information
Section 12B Power of Reserve Bank to carry out audit and inspection