The object of the SARFAESI Act is speedy recovery of non-performing assets. The book details the action/steps under the Act and discusses the related Law on the subject. It will be useful in understanding the practical aspects of the laws applicable to debt recovery through invoking the provisions of the SARFAESI Act.
Provisions of the SARFAESI ACT discussed:
- Scheme of sarfaesi act and its effectiveness
- Realisable assets under sarfaesi act
- Symbolic v/s. Physical possession of the assets
- Forum or remedies available to the borrowers
- Powers of civil court under sarfaesi act, etc.
Also given the text of
- The Securitisation and Reconstruction of Financial Assests and Enforcement of Security Interest Act, 2002
- The Security Interest Enforcement Rules, 2002
- Reserve Bank of India Guidelines on Asset Classification
- Reserve Bank of India Guidelines on Recovery Agents Engaged by Banks