| ID | 045318 |
| Title Proper | Modifying the 'Sarfaesi Act, 2002' |
| Language | ENG |
| Author | Kumar K S Hareesh |
| Summary / Abstract (Note) | To expedite recoveries by the Banks, the law called the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest, 2002, popularly called the SARFAESI Act, has been enacted. A secured creditor Bank can enforce its securities without the intervention of courts and by following the procedure as prescribed under the said Act. This has been proven to be the second-best tool for recovery of NPAs after the advent of the Insolvency and Bankruptcy Code, 2016.
However, there are certain inconsistencies and ambiguities in the legislation passed by the Parliament and the Rules framed by the Government of India, which are ambiguous and hence causing difficulty for both the Banks and Auction purchasers. |
| `In' analytical Note | In The Indian Banker 2026-07-01 [Vol. XIII Issue. 11]. 2026-07-01. |
| Journal Source | The Indian Banker 2026-07 XIII, 11 |