Right to lodge a "Caveat" under (SARFAESI) Act, 2002.

Section 18C of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 deals with Right to lodge a caveat. Section 18C(1) states that where an application or an appeal is expected to be made or has been made under section 17 or section 17A or section 18 or section 18B, the secured creditor or any person claiming a right to appear before the Tribunal or the Court of District Judge or the Appellate Tribunal or the High Court, as the case may be, on the hearing of such application and appeal, may lodge a caveat in respect thereof. Where a caveat has been lodged the secured creditor by whom the caveat (hereafter referred to as the caveator) has been lodged shall serve notice of the caveat by registered post, acknowledgement due, on the person by whom the application has been or is expected to be made under sub-section (1); after a caveat has been lodged under sub-section (1), any application or appeal is filed before the Tribunal or the court of District Judge or the Appellate Tribunal or the High Court, as the case may be, the Tribunal or the District Judge or the Appellate Tribunal or High Court, as the case may, shall serve a notice of application or appeal filed by the applicant or the appellant on the caveator. Where a caveat has been lodged under sub-section (1), such caveat shall not remain in force after the expiry of the period of ninety days from the date on which it was lodged unless the application or appeal referred to in sub-suction (1) has been made before the expiry of the said period.