Sarfaesi Act

– Sarfaesi Act, 2002

-Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest

-this law is applicable only on secured loans

-it allows banks & other financial institutions to auction residential & commercial properties to recover loan

-Act was passed to recover NPA’s from secured loan defaulters by taking possession over the collateral without the intervention of the Court or Tribunal

》Unsecured loans

-loans below 1 L

-or remaining debt is less than 20% of the original principal

With Great Love,

Er. Amit Yadav
http://www.stayfoolish.in

Life is easy..!

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s