SARFAESI Act, 2002: Applicability, Objectives, and Process of NPA Recovery

BRBL, NPA management

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), is a landmark legislation enacted to empower banks and financial institutions with the ability to recover non-performing assets (NPAs) without the need for court intervention. The Act was later amended by the Enforcement of Security Interest and Recovery of…

SARFAESI ACT 2002:Applicability,Objectives and process of NPA recovery

BRBL, Law related to collateral-securities, Loans and advances, Risk Management23 Comments

The SARFAESI ACT  is the acronym of Securitisation And Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002. The Act has been amended by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act 2004. The SARFAESI Act provides for Enforcement of Security Interest for the realization of the dues without the intervention of Courts or Tribunals which is treated as one…