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NA – Newsletter – Oct 2023 Download PDF

 It true that the Banks suffer a lot in recovering the outstanding dues from the borrowers in the absence of special enactment like SARFAESI Act and the object of the enactment is really laudable. It is a procedural change basically to enable the Banks to recover the loans speedily and, in my opinion, it is […]

It is very clear that the Banks should follow RBI guidelines on Asset-Classification before classifying any loan account as ‘Non-performing Asset (NPA)’. There were judgments saying that it is mandatory for the Banks to follow RBI guidelines while classifying an account as ‘Non-Performing Asset (NPA)’ and any deviation in this regard can vitiate the proceedings initiated […]

I was concentrating and writing on few complicated issues under SARFAESI Act, 2002. I was also writing that there was no clarity on the issue of jurisdiction of Civil Court in entertaining SARFAESI matters in view of clear bar under section 34 of SARFAESI Act, 2002. There was a reference in the Mardia Chemicals case on the issue of Civil […]

We all aware of the object behind SARFAESI Act, 2002 and it is to enable the banks to recover the debts speedily and to enable the banks to reduce NPAs. Despite lot of criticism that SARFAESI Act, 2002 is draconian law and it enables the Banks to harass the borrowers, Banks suffer to recover their […]