Auction properties of defaulters.

SARFAESI Matters

Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 banks in India have been granted the authority to take possession of the security provided by the defaulting borrower against the loan and sell it to recover losses, without the need for intervention by a court of law. Consult KTR Law Firm regarding any kind of SARFAESI issues, our top lawyers will help you out.

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What is SARFAESI Act?

SARFAESI stands for Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest. The SARFAESI Act empowers banks to take possession of and auction the pledged securities of defaulting borrowers, to recover the pending dues.

The SARFAESI Act primarily provides legal assistance in cases involving:

Registration of asset reconstruction companies

Acquisition of rights or interest in financial assets

Measures for assets reconstruction

Resolution of disputes

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