SARFAESI Act, 2002 Proceedings
End-to-end counsel for secured creditors enforcing security interests under the SARFAESI Act, from demand notice to possession.
The SARFAESI Act gives secured creditors a powerful, time-bound route to recover dues without first approaching a civil court. That speed only holds up if every notice, affidavit, and possession step is executed without procedural error, a single defective notice can undo months of recovery effort. We advise and represent banks, NBFCs, and small finance banks at every stage of the SARFAESI process, and defend borrowers and guarantors who believe that process has been misapplied against them.
What This Covers
- Drafting and vetting Section 13(2) demand notices
- Responding to and evaluating Section 13(3A) representations
- Section 13(4) symbolic and physical possession proceedings
- Sale notices and compliance with Security Interest (Enforcement) Rules
- Defending borrowers/guarantors against procedurally defective SARFAESI action
Six stages. One statute. No room for procedural error.
Select any stage below to see exactly what it requires, for the secured creditor enforcing it, and the borrower responding to it.
Section 13(2) Demand Notice
Once a loan account is classified as a non-performing asset, the secured creditor must issue a demand notice under Section 13(2), giving the borrower 60 days to repay the outstanding dues in full. The notice must correctly state the amount due and identify the secured assets, errors here are the single most common ground for later challenge.
Facing a recovery matter, or need panel counsel for one?
Speak directly with Advocate Hansal Shukla about your SARFAESI, DRT, or banking recovery matter.