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5 days ago · The SARFAESI Act full form is – “ Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act ”. The SARFAESI Act allows banks and other financial institutions for auctioning commercial or residential properties to recover a loan when a borrower fails to repay the loan amount.
Jun 12, 2024 · In this landmark judgment, a division Bench of Hon’ble High Court of Allahabad explains in detail, the law of tenancy/lease rights in case of secured creditors has initiated proceedings: (i) How are tenancy rights determined beyond the period of 1 year under the TPA 1882?
Jun 17, 2024 · SARFAESI Act of 2002 addresses India's non-performing assets. Section 13 empowers secured creditors to enforce security interests without court proceedings, streamlining debt recovery.
Jun 17, 2024 · Section 13 of the SARFAESI Act provides secured creditors with a streamlined debt recovery approach that avoids protracted judicial proceedings. The provision makes it easier to reclaim nonperforming assets quickly, which improves lending institutions' financial stability.
Jun 26, 2024 · Section 14 of the SARFAESI Act is instrumental in empowering lenders to enforce security interests effectively, especially in cases of loan defaults. It provides a structured approach to recover outstanding dues while safeguarding the interests of both borrowers and lenders.
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Jun 28, 2024 · SARFAESI Act Section 17 provides that borrowers can approach the Debt Recovery Tribunal to rectify their grievances against the creditor or authorised officer.
