(1) In case any corporate body breaches the terms and condition of document executed for the Trust by not repaying, as per the agreement, any debt, its interest
and amount taken as advance or in case the Committee considers that there is reasonable ground to take control over the operation of financial transaction of such body , despite the time limitation to clear the loan not being expired, Trust may recover its amount by controlling the management or financial transaction of borrowing corporate body or seize, possess, rent or lease the collateral accepted in consideration of the loan or other assets of such body or sell the said property by auction through open bids or by sealed bids or by negotiation
(2) In case the collateral provided by the borrowing corporate body pursuant to Section (1) or other asset of the said body sold through auction by open bids or calling sealed bids upon taking possession, after recovering the amount by the Trust, it shall return back the residual amount to the concerned corporate body
(3) In case the asset of the borrowing corporate body sold pursuant to Section (1) through auction by open bids or calling sealed bids, or the said asset could not be sold by auction despite the efforts of time and again, or the trust decided to take the ownership of the asset by itself as it occluded if sold in the received value that is not being in the interest of the Trust; the Office authorized for registration and to give effect transmission shall register and give to effect transmission of such asset in the name of the person taking through auction or of the Trust as the case may be.