What are the various measures taken by assets reconstruction or securitisation company for the purpose of assets reconstruction? What are its other functions ?

Asset Reconstruction Company or Securitisation Company can take the following measures for the purposes of asset reconstruction: Proper management of the business of the borrower, by change in, or takeover of, the management of the business of 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. Securitisation or Reconstruction Company may do the following functions also in accordance with Section 10 of the Act: act as an agent for any bank or financial institution for the purpose of recovering their dues from the borrower on payment of such fees or charges as may be mutually agreed upon between the parties; act as a manager referred to in clause (c) of Sub-section (4) of Section 13 on such fee as may be mutually agreed upon between the parties; act as receiver if appointed by any court or Tribunal. No securitisation company or Reconstruction Company shall act as a manager if acting as such gives rise to any pecuniary liability. Securitisation company or re-construction company which has been granted a certificate of registration cannot commence or carry on any business other than that of securitisation or asset reconstruction without prior approval of the Reserve Bank.