SARFAESI
Securitisation and reconstruction of financial assets and enforcement of security interest.
Articles
Frequently Asked Questions
It applies to secured loans above a specified threshold extended by banks and notified financial institutions; it generally does not apply to unsecured loans or, with some exceptions, to agricultural land used as security.
A borrower can approach the DRT to challenge the process, or can repay the outstanding dues (or reach a settlement with the bank) before the sale is finalised to halt further action.