Section 13 (2)

Limitation to proceed U/s. 13 (2) & 13 (4) of SARFAESI Act, 2002?

Finance - Despite the clear objective behind enacting SARFAESI Act, 2002, while implementing the provisions of the Act, many complications have arisen and the Hon’ble Courts have cleared some complications making a good balance between the interests of the borrowers and the objective of Act to reduce the alarming levels of Non-performing Assets (...

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Clubbing of many loan Accounts/transactions – Bank’s ‘Right of lien’ – SARFAESI Act, 2002?

Finance - The enactment of ‘Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002’ has facilitated an easy mode of recovery of loan for the banks where there is a ‘Secured Asset’ and it will definitely reduce the rate of ‘Non-performing Assets (NPA)’. Non-performing Assets (NPA) effect the ...

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Cause of Action to Appeal to DRT continues at various stages under SARFAESI Act, 2002?

Finance - It is felt that enormous powers are conferred on Banks or Public Financial Institutions under SARFAESI Act, 2002 from the stage of determination of outstanding due, entertaining objections, taking possession of the property and selling the property through private treaty at times and in public auctions very often. The borrower too has got...

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NPA classification/SARFAESI Act – discretion of Bank/Secured Creditor?

Finance - The Banks or Secured Creditors do feel comfortable in recovering their dues using the provisions of SARFAESI Act, 2002. The object of the enactment, as everybody knows, is to enable the Banks/Secured Creditors to reduce the level of ‘Non-performing ...

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SARFAESI Act, 2002/Debt Recovery Tribunal – important points to be noted?

Finance - The object of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is to regulate Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest and for matters connected...

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Recent Posts in "Section 13 (2)"

Limitation to proceed U/s. 13 (2) & 13 (4) of SARFAESI Act, 2002?

Despite the clear objective behind enacting SARFAESI Act, 2002, while implementing the provisions of the Act, many complications have arisen and the Hon’ble Courts have cleared some complications making a good balance between the interests of the borrowers and the objective of Act to reduce the alarming levels of Non-performing Assets (...

Read More
Posted Under: Finance |

Clubbing of many loan Accounts/transactions – Bank’s ‘Right of lien’ – SARFAESI Act, 2002?

The enactment of ‘Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002’ has facilitated an easy mode of recovery of loan for the banks where there is a ‘Secured Asset’ and it will definitely reduce the rate of ‘Non-performing Assets (NPA)’. Non-performing Assets (NPA) effect the ...

Read More
Posted Under: Finance |

Cause of Action to Appeal to DRT continues at various stages under SARFAESI Act, 2002?

It is felt that enormous powers are conferred on Banks or Public Financial Institutions under SARFAESI Act, 2002 from the stage of determination of outstanding due, entertaining objections, taking possession of the property and selling the property through private treaty at times and in public auctions very often. The borrower too has got...

Read More
Posted Under: Finance |

NPA classification/SARFAESI Act – discretion of Bank/Secured Creditor?

The Banks or Secured Creditors do feel comfortable in recovering their dues using the provisions of SARFAESI Act, 2002. The object of the enactment, as everybody knows, is to enable the Banks/Secured Creditors to reduce the level of ‘Non-performing ...

Read More
Posted Under: Finance |

SARFAESI Act, 2002/Debt Recovery Tribunal – important points to be noted?

The object of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is to regulate Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest and for matters connected...

Read More
Posted Under: Finance |

SARFAESI Act, 2002 – order of District Magistrate under section 14 – taking physical possession of Secured Asset – compl

What normally happens is that when the borrower fails to get an order of stay of proceedings by the Bank under the provisions of SARFAESI Act, 2002 under section 17 or where there is no restraint from the competent forum, the Bank will proceed with taking physical possession of the property and then proceed with auctioning the same in acc...

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Posted Under: Finance |

Collusion between Bank Officials and Builders – SARFAESI Act – a Case Study

I strongly believe that implementing the provisions of the SARFAESI Act, 2002 making a good balance between the object and the interests of the borrower is a very complicated exercise. There are so many judgments on the provisions of the SARFAESI Act, 2002 and still certain areas remain complicated. I would like to share a typical case pr...

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Posted Under: Finance |

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