law: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
  10. Other functions
  
  of securitisation company or reconstruction company.- 
  1.     
  
    Any
  
  securitisation company or reconstruction company registered under section 3
  
  may-
  a.      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;
  b.     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;
  c.      act as receiver if
  
  appointed by any court or tribunal:
  Provided that no
  
  securitisation company or reconstruction company shall act as a manager if
  
  acting as such gives rise to any pecuniary liability.
  1.     
  
  
  2.     
  
    Save
  
  as otherwise provided in sub-section (1), no securitisation company or
  
  reconstruction company which has been granted a certificate of registration
  
  under sub-section (4) of section 3, shall commence or carry on, without prior
  
  approval of the Reserve Bank, any business other than that of securitisation or
  
  asset reconstruction:
  Provided that a
  
  securitisation company or reconstruction company which is carrying on, on or
  
  before the commencement of this Act, any business other than the business of
  
  securitisation or asset reconstruction or business referred to in sub-section
  
  (1), shall cease to carry on any such business within one year from the date of
  
  commencement of this Act.
  Explanation-For the
  
  purposes of this section, securitisation company or reconstruction company does
  
  not include its subsidiary.