Measures to be taken by Assets Reconstruction or Securitisation Company for the purpose of Assets Reconstruction.

Measures that can be taken by Assets Reconstruction or Securitisation Company for the purposes of asset reconstruction having regard to the guidelines framed by the Reserve Bank in this behalf are: Proper management of the business of the borrower, by change in, or takeover of the management of the business of the borrower; Sale or lease of a part or whole of the business of the borrower; Rescheduling of payment of debts payable by the borrower; Enforcement of security interest in accordance with the provisions of the Act; Settlement of dues payable by the borrower; Taking possession of secured assets in accordance with the provisions of the Act; To convert any portion of debt into share of a borrower company. Provided that conversion of any part of debt into shares of a borrower company shall be deemed always to have been valid, as if the provisions of this clause were in force at all material times.