Section 13(13) of the SARFAESI Act imposes a specific restriction on the borrower after receipt of a Section 13(2) notice. What restriction does this sub-section impose?

Section 13(13) imposes an important post-notice restriction: after the borrower receives the Section 13(2) demand notice, no borrower shall transfer by way of sale, lease or otherwise any of their secured assets referred to in the notice, without the prior written consent of the secured creditor. The exception is transactions in the 'ordinary course of business.' This provision prevents the borrower from alienating or dissipating the secured assets during the 60-day notice period, which would frustrate the secured creditor's enforcement rights. A transfer in violation of Section 13(13) would not be protected and the secured creditor could challenge such a transfer. This is a key provisional restriction, not an absolute bar on all business activity.