1[26A.Rectification by Central Government in matters of registration, modification and satisfaction, etc.—(1) The Central Government, on being satisfied—
may, on the application of a secured creditor or 2[asset reconstruction company] or any other person interested on such terms and conditions as it may seem to the Central Government just and expedient, direct that the time for filing of the particulars of the transaction for registration or modification or satisfaction shall be extended or, as the case may require, the omission or mis-statement shall be rectified.
(2) Where the Central Government extends the time for the registration of transaction of security interest or securitisation or asset reconstruction or modification or satisfaction thereof, the order shall not prejudice any rights acquired in respect of the property concerned or financial asset before the transaction is actually registered.]1. Ins. by Act 1 of 2013, s. 9 (w.e.f. 15-1-2013). 2. Subs. by Act 44 of 2016, s. 3, for "securitisation company or reconstruction company " (w.e.f. 1-9-2016).