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5 days ago · What is SARFAESI Act, 2002? 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.
3 days ago · 3) In the Securitisation Application filed under Section 17(1) of the SARFAESI Act, 2002, the borrower cannot be permitted to challenge the proceedings initiated from the date of issuance of section 13(2) Notice till the date of taking physical possession by preparation of panchnama on 03.11.2018, subsequent to Section 14 order passed by the competent authority.
3 days ago · The Orissa High Court has observed that the consumer commission lacks inherent jurisdiction to grant an injunction or any other relief which is a subject matter under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI’).
5 days ago · The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, plays a crucial role in the valuation and management of NPAs by banks and financial institutions. Understanding Non-Performing Assets (NPAs) NPAs refer to loans or advances that have ceased to generate income for the lender. They ...
5 days ago · Adherence to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) Maintaining a well-documented policy and Fair Practices Code for credit card operations; Assessing customer credit limits based on self-declaration or credit information from CICs
3 days ago · As no step was taken for repayment of loan despite of demand notice, further notice under Section 13(4) of the SARFAESI Act read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 for ...
3 days ago · Since steps were not taken to repay the loan, another notice was issued under Section 13(4) of the SARFAESI Act read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 for possession of the property. Thereafter, the opposite party filed an appeal under Section 17(1), after which the petitioner published an e-auction sale notice.
