Section 11
Power Of The Fund In Case Of A Default Of An Agreement
(1) In case a debtor breaches the terms and conditions provided in the agreement made pursuant to Section 10 by not repaying debt, its interest and amount
taken as advance or in case there are adequate grounds that the amount of such loan can not be recovered, the Fund may, despite the time limitations to clear the loan is not expired, call back the payment of amount to be
recovered from the debtor or seize, posses, rent and lease the collateral or other property of such debtor or sell the said property by auction through open basis or by sealed bids or by negotiation.
(2) In case the property of the debtor sold through auction by open bids or calling sealed bids or by negotiation pursuant to sub-section (1) , the Fund shall return back the residual amount of the concerned debtor after
recovering the amount to be recovered by it.
(3) In case the property of the debtor could not be sold through auction by open bids, calling sealed bids or by negotiation despite the attempt of time and again or in case it is sold in the received value that
would not be the in the interest of the Fund, the Fund shall take itself the ownership of such property by determining value of the said property as prescribed.
taken as advance or in case there are adequate grounds that the amount of such loan can not be recovered, the Fund may, despite the time limitations to clear the loan is not expired, call back the payment of amount to be
recovered from the debtor or seize, posses, rent and lease the collateral or other property of such debtor or sell the said property by auction through open basis or by sealed bids or by negotiation.
(2) In case the property of the debtor sold through auction by open bids or calling sealed bids or by negotiation pursuant to sub-section (1) , the Fund shall return back the residual amount of the concerned debtor after
recovering the amount to be recovered by it.
(3) In case the property of the debtor could not be sold through auction by open bids, calling sealed bids or by negotiation despite the attempt of time and again or in case it is sold in the received value that
would not be the in the interest of the Fund, the Fund shall take itself the ownership of such property by determining value of the said property as prescribed.