State Act
30
Section 30. Rights of Lenders
The Andhra Pradesh Infrastructure Development Enabling Act, 2001.
Act no. 36 of 20012001In forceAndhra Pradesh (State Act)
30. Rights of Lenders – The Lenders will be entitled to recover their dues from the Developer and Project receivables in the form of User Levies and in the event of default by the Developer in completing or implementing a Project, the Lenders will have the right to substitute the Developer with the consent of the Government and subject to the approval of such substituted Developer by the Government Agency or the Local Authority and by the 1[Government], on the same terms and conditions as applicable to the previous Developer or with such modifications as may be specifically approved by the 1[Government].