{"id":252590,"date":"2021-08-12T16:30:39","date_gmt":"2021-08-12T11:00:39","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=252590"},"modified":"2021-08-12T17:16:18","modified_gmt":"2021-08-12T11:46:18","slug":"every-factor-shall-register-transaction-with-registry-under-sarfeasi-vide-factoring-regulation-amendment-act-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/12\/every-factor-shall-register-transaction-with-registry-under-sarfeasi-vide-factoring-regulation-amendment-act-2021\/","title":{"rendered":"Every factor shall register transaction with registry under SARFAESI, vide Factoring Regulation (Amendment) Act, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\">The Parliament passes the Factoring Regulation (Amendment) Act, 2021 on 7th August, 2021, amending the Factoring Regulation Act, 2011.<\/p>\n<h4><\/h4>\n<h4 style=\"text-align: justify;\"><span style=\"color: #800000;\">Key changes enacted by the amendment are:<\/span><\/h4>\n<ul>\n<li style=\"text-align: justify;\">The amendment states that every factor shall register the particulars of every transaction of assignment of receivables in his favor with the Central Registry set-up under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.<\/li>\n<li style=\"text-align: justify;\">In cases where any trade receivables are financed through a Trade Receivables Discounting System, the particulars shall be filed with the Central Registry on behalf of the factor by the Trade Receivables Discounting System. Trade Receivables Discounting System refers to a payment system authorized by the Reserve Bank under the Payment and Settlement Systems Act, 2007 for the purpose of facilitating financing of trade receivables.<\/li>\n<li style=\"text-align: justify;\">The Reserve has the power to make regulations and carry out the provisions of the Act.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #0000ff;\">*Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Parliament passes the Factoring Regulation (Amendment) Act, 2021 on 7th August, 2021, amending the Factoring Regulation Act, 2011. Key changes enacted <\/p>\n","protected":false},"author":121,"featured_media":108571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[],"class_list":["post-252590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-statutes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Every factor shall register transaction with registry under SARFAESI, vide Factoring Regulation (Amendment) Act, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/12\/every-factor-shall-register-transaction-with-registry-under-sarfeasi-vide-factoring-regulation-amendment-act-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Every factor shall register transaction with registry under SARFAESI, vide Factoring Regulation (Amendment) Act, 2021\" \/>\n<meta property=\"og:description\" content=\"The Parliament passes the Factoring Regulation (Amendment) Act, 2021 on 7th August, 2021, amending the Factoring Regulation Act, 2011. 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of Finance has notified Registration of Assignment of Receivables (Amendment) Rules, 2021 vide notification dated October 11, 2021. It amends the Registration of Assignment of Receivables Rules, 2012 in the following manner: Rule 3 of the Registration of Assignment of Receivables Rules, 2012, dealing with registration of transactions\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":253093,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/21\/factoring-regulation-amendment-act-2021-comes-into-force-on-august-23-2021\/","url_meta":{"origin":252590,"position":1},"title":"Factoring Regulation (Amendment) Act, 2021 comes into force on August 23, 2021","author":"Prachi Bhardwaj","date":"August 21, 2021","format":false,"excerpt":"The Ministry of Law and Justice has appointed the 23rd day of August, 2021, as the date on which the provisions of the Factoring Regulation (Amendment) Act, 2021 shall come into force vide notification dated August 19, 2021. The Parliament has enacted the Factoring Regulation (Amendment) Act, 2021 on August\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-162.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-162.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-162.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-162.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-162.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":35121,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/02\/08\/securitisation-and-reconstruction-of-financial-assets-and-enforcement-of-security-interest-central-registry-amendment-rules-2016\/","url_meta":{"origin":252590,"position":2},"title":"Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Amendment Rules, 2016","author":"Sucheta","date":"February 8, 2016","format":false,"excerpt":"The Central Government hereby makes the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Amendment Rules, 2016 in order to amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011. 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The guidelines shall come into force from November 1, 2021. \u00a0 Key highlights of the revised guidelines are: The guidelines set out the regulatory framework to: promote sustainable and healthy development\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":246308,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/31\/amendments-in-schedule-iii-of-companies-act-2013-and-new-trade-payables-ageing-schedule-notified\/","url_meta":{"origin":252590,"position":4},"title":"Amendments in Schedule III of Companies Act, 2013 and New Trade Payables Ageing Schedule, notified","author":"Prachi Bhardwaj","date":"March 31, 2021","format":false,"excerpt":"The Ministry of Corporate Affairs amends Schedule III of the Companies Act, 2013. It shall come into effect on April 1, 2021. Key changes in the Schedule vide the amendment are as follows: \u00a0 In Division I, under heading \u201cGeneral instructions for preparation of Balance Sheet and statement of P&L\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":289432,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/04\/14\/nclt-ibc-application-rejected-nclat-appeal-invoice-discounting-receivable-operational-creditor-dismissed-scc-blog-legal-research-news\/","url_meta":{"origin":252590,"position":5},"title":"Application U\/S 7 IBC not maintainable if Financial Creditor steps into the shoes of Operational Creditor; NCLAT upholds NCLT&#8217;s order","author":"Ritu","date":"April 14, 2023","format":false,"excerpt":"NCLAT held that the application preferred by the appellants in the second appeal under S. 7 IBC has rightly been held to be not maintainable and was rightly relegated to avail their remedy of filing the application under S. 9 IBC in relation to invoice discounting of the receivables by\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/252590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=252590"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/252590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/108571"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=252590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=252590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=252590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}