Sarfaesi Act
General

SARFAESI RULES

INTRODUCTION The 2002 Act of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest, hereinafter referred to as the SARFAESI Act was passed on December 17, 2002.  The purpose of the Act is to help the lenders to recover their debt as soon as possible. The SARFAESI Act assigns great powers to the banks and other financial…

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Sarfaesi Act 2002
General

Analysis of Section 14 of the SARFAESI Act 2002

Introduction  Section 14 of the SARFAESI Act, 2002 states the power of the Chief Metropolitan Magistrate (CMM) and District Magistrate (DM) to assist secured creditor in taking possession of secured assets. According to section 14 of the Act when the secured creditor takes possession of the secured asset or wants to sell or transfer any secured assets as per the…

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sarfaesi Act
General

Enforcement of Security Interest: SARFAESI Act,2002

Introduction In developing countries, the financial sector has played a vital role as it has increased the economy of the Country. Securities and debt are the latest systems that are introduced in the financial sector. As the latest techniques are introduced, the law should also be adapted according to the changes made in society to keep pace. As there are…

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