Sarfaesi act
•Download as DOCX, PDF•
3 likes•4,106 views
The SARFAESI Act allows banks and financial institutions to recover non-performing assets without court intervention through securitization, asset reconstruction, or enforcing security interests. The Act applies to NPA loans over Rs. 1 lakh and allows banks to issue demand notices, recover secured assets from borrowers or their transferees, and collect payments from debtors. Borrowers can appeal enforcement actions but must first deposit 50% of dues and cannot approach regular civil courts.
Report
Share
Report
Share
Recommended
Sarfaesi act
The document discusses the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act of 2002 in India. It provides a history of debt recovery laws in India prior to SARFAESI. SARFAESI allows banks and financial institutions to auction residential or commercial properties to recover loans in case of default. It enables banks to reduce non-performing assets by taking possession of secured assets without court intervention. The act established asset reconstruction companies and empowers banks to seize assets and sell them off in order to strengthen banks' ability to recover non-performing assets faster.
Taxmann's Guide to SARFAESI Act 2002 & Recovery of Debts and Bankruptcy Act 1993
This document provides an overview of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It discusses the background and objectives of the Act, key features such as enforcement of security, securitization, and asset reconstruction. It also examines related topics such as the constitutional validity of the Act, applicability to different entities, and interactions with other laws like the Recovery of Debts and Bankruptcy Act, 1993 and Insolvency and Bankruptcy Code, 2016. The document outlines the procedures for enforcement of security, sale of secured assets, appeals and penalties under the SARFAESI Act.
Sarfaesi
The document discusses securitization and asset reconstruction in India. It states that Section 5 of the Securitization and Reconstruction of Financial Assets and Enforcement Security Interest Act mandates that only banks and financial institutions can securitize their financial assets. It provides an example of how a bank called XYZ Bank can securitize its loan assets by transferring them to a special purpose vehicle, removing the assets from its books and freeing up capital for new lending. The special purpose vehicle then issues securities to investors to raise funds that are passed back to the originating bank.
Note on Securitisation and Reconstruction of Financial Assets and Enforcement...
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) allows banks and financial institutions to recover non-performing assets without court intervention through securitization, asset reconstruction, or enforcing security. The Act defines banks, financial institutions, secured creditors, and borrowers. To use SARFAESI powers, an institution must fall under the definition of a bank or financial institution, which includes certain public institutions and those notified by the central government. The Ministry of Corporate Affairs also provides guidelines for an institution to be declared a public financial institution.
C.f
This document provides an overview of term loans, including:
1. It was submitted by 7 individuals and contains an introduction and sections on the Indian scenario of term loans, characteristics, advantages/disadvantages, how they can be availed, benefits, specialized financial institutions, and purpose.
2. Term loans are long-term debt obtained from banks and financial institutions, usually to finance large projects. They have fixed repayment schedules and interest rates.
3. Examples of term loans in India are provided from Bank of Baroda for SMEs, outlining eligibility, amounts, rates, security requirements and processes.
Presentation on SARFAESI Act_Anurag Ghosh_16PGDMBFS08
The document provides an overview of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) which allows banks to auction residential and commercial properties when borrowers default on loans. It discusses the history and provisions of the act, including giving banks the power to take possession of secured assets without court intervention. It also analyzes the rising level of non-performing assets (NPAs) in Indian banks and how the SARFAESI Act is important for helping banks reduce their NPAs by recovering assets.
securitization Act 2002
Powerpoint slides on Securitization Act 2002. This a financial term. This powerpoint will create good awareness regarding securitization. how this does happen, who have right to do this process etc. people get to know how do banks manage their NPAs.
Securitisation and reconstruction
The SARFAESI Act 2002 aims to allow banks and financial institutions to realize secured assets of borrowers in an expeditious manner upon default. Key aspects include allowing asset reconstruction and securitization, enforcement of security interests without court intervention, and establishing a central registry for registration of transactions. It applies to all banks, financial institutions, and housing finance companies. Various terms related to loans, securities, and recovery processes are also defined in the document.
Recommended
Sarfaesi act
The document discusses the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act of 2002 in India. It provides a history of debt recovery laws in India prior to SARFAESI. SARFAESI allows banks and financial institutions to auction residential or commercial properties to recover loans in case of default. It enables banks to reduce non-performing assets by taking possession of secured assets without court intervention. The act established asset reconstruction companies and empowers banks to seize assets and sell them off in order to strengthen banks' ability to recover non-performing assets faster.
Taxmann's Guide to SARFAESI Act 2002 & Recovery of Debts and Bankruptcy Act 1993
This document provides an overview of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It discusses the background and objectives of the Act, key features such as enforcement of security, securitization, and asset reconstruction. It also examines related topics such as the constitutional validity of the Act, applicability to different entities, and interactions with other laws like the Recovery of Debts and Bankruptcy Act, 1993 and Insolvency and Bankruptcy Code, 2016. The document outlines the procedures for enforcement of security, sale of secured assets, appeals and penalties under the SARFAESI Act.
Sarfaesi
The document discusses securitization and asset reconstruction in India. It states that Section 5 of the Securitization and Reconstruction of Financial Assets and Enforcement Security Interest Act mandates that only banks and financial institutions can securitize their financial assets. It provides an example of how a bank called XYZ Bank can securitize its loan assets by transferring them to a special purpose vehicle, removing the assets from its books and freeing up capital for new lending. The special purpose vehicle then issues securities to investors to raise funds that are passed back to the originating bank.
Note on Securitisation and Reconstruction of Financial Assets and Enforcement...
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) allows banks and financial institutions to recover non-performing assets without court intervention through securitization, asset reconstruction, or enforcing security. The Act defines banks, financial institutions, secured creditors, and borrowers. To use SARFAESI powers, an institution must fall under the definition of a bank or financial institution, which includes certain public institutions and those notified by the central government. The Ministry of Corporate Affairs also provides guidelines for an institution to be declared a public financial institution.
C.f
This document provides an overview of term loans, including:
1. It was submitted by 7 individuals and contains an introduction and sections on the Indian scenario of term loans, characteristics, advantages/disadvantages, how they can be availed, benefits, specialized financial institutions, and purpose.
2. Term loans are long-term debt obtained from banks and financial institutions, usually to finance large projects. They have fixed repayment schedules and interest rates.
3. Examples of term loans in India are provided from Bank of Baroda for SMEs, outlining eligibility, amounts, rates, security requirements and processes.
Presentation on SARFAESI Act_Anurag Ghosh_16PGDMBFS08
The document provides an overview of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) which allows banks to auction residential and commercial properties when borrowers default on loans. It discusses the history and provisions of the act, including giving banks the power to take possession of secured assets without court intervention. It also analyzes the rising level of non-performing assets (NPAs) in Indian banks and how the SARFAESI Act is important for helping banks reduce their NPAs by recovering assets.
securitization Act 2002
Powerpoint slides on Securitization Act 2002. This a financial term. This powerpoint will create good awareness regarding securitization. how this does happen, who have right to do this process etc. people get to know how do banks manage their NPAs.
Securitisation and reconstruction
The SARFAESI Act 2002 aims to allow banks and financial institutions to realize secured assets of borrowers in an expeditious manner upon default. Key aspects include allowing asset reconstruction and securitization, enforcement of security interests without court intervention, and establishing a central registry for registration of transactions. It applies to all banks, financial institutions, and housing finance companies. Various terms related to loans, securities, and recovery processes are also defined in the document.
SARFAESI ACT 2002
The SARFAESI Act allows banks to auction residential and commercial property to recover loans from borrowers who have defaulted on repayments. It aims to help banks reduce non-performing assets. Banks can seize collateral like land for secured loans without court intervention. The Act provides three methods for asset recovery - securitization, asset reconstruction, and enforcement of security interests. It established regulations for securitization companies and allows borrowers to appeal repossession decisions in Debt Recovery Tribunals.
Securitisation and reconstruction of financial assets and enforcement of secu...
The SARFAESI Act enables secured creditors like banks and financial institutions to enforce their security without court intervention. It allows creditors to take possession of secured assets, sell them, or assign rights over them to recover loans in case of default. The Act established mechanisms for asset reconstruction companies to acquire financial assets from banks and issue security receipts to investors. It defines terms like borrower, financial asset, and non-performing asset. The constitutional validity of the Act was upheld by the Supreme Court. Methods of recovery include securitization, asset reconstruction, and direct enforcement of security. Amendments allowed debt to equity conversion and banks to purchase auctioned properties under certain conditions.
SARFAESI Act, 2002
The SARFAESI Act allows banks and financial institutions to recover non-performing assets without court intervention. It aims to expedite recovery of NPAs. The act empowers lenders to issue recovery notices giving 60 days to pay dues and take possession of secured assets if dues are not paid. It provides three methods for NPA recovery - securitization, asset reconstruction, and enforcement of security. The act applies to NPAs over Rs. 1 lakh and was expanded to include NBFCs.
SARFAESI Act
This document provides a summary of the SARFAESI Act of 2002 and the evolution of debt recovery systems in the Indian banking sector. It discusses how non-performing assets piled up in the sector due to inadequate debt recovery mechanisms and long civil court processes. This led to various committees and reforms over time to improve recovery of debts, including the establishment of Debt Recovery Tribunals, introduction of prudential norms, and reductions in statutory reserve requirements. A key reform was the enactment of the SARFAESI Act in 2002, which allowed banks and financial institutions to enforce security interests without court intervention.
Debt recovery tribunal act
The document summarizes the Debt Recovery Tribunal Act of 1993 in India. Key points:
- It establishes Debt Recovery Tribunals and Appellate Tribunals to facilitate recovery of debts owed to banks and financial institutions exceeding 10 lakh rupees.
- The Tribunals have jurisdiction over cases where the debtor resides or operates within specified areas. Banks can apply to the Tribunals to recover debts.
- The Tribunals determine the amount owed and issue certificates to Recovery Officers to attach/sell debtor properties, arrest the debtor, or appoint receivers to recover the debt. Debtors can appeal amounts but must deposit 75% of the determined debt.
Handout On SARFAESI
The SARFAESI Act allows banks and financial institutions to recover non-performing assets (NPAs) through securitization or asset reconstruction. It established provisions for registration and regulation of securitization companies and asset reconstruction companies. These companies can acquire financial assets from banks, issue security receipts to qualified institutional buyers, and employ measures to resolve NPAs such as debt restructuring, taking possession of collateral, and changing borrower management. However, issues with the SARFAESI Act include a thin investor base limited to qualified buyers and investor appetite focused only on short-term, highly-rated securities.
Sarfaesi Act
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) allows banks and financial institutions to seize assets like property from borrowers who have defaulted on loans above Rs. 1 lakh. Under this Act, banks can take possession of secured assets without court intervention and auction them to recover unpaid debts. It aims to reduce non-performing assets of banks by expediting the recovery process. The Act also establishes Asset Reconstruction Companies that can acquire NPAs from banks to help resolve bad loans.
Sarfaesi Act 2002
The SARFAESI Act allows secured creditors like banks to enforce security interest for recovery of dues without court intervention. It gives banks the power to take possession of secured assets, sell them, or take over management upon default. The key steps are issuing a 60-day demand notice, taking possession if not paid, appointing an authorized officer, valuating and auctioning the assets. The debtor can raise objections within 15 days of notice or approach DRT within 45 days, otherwise the bank may proceed to sell the assets to recover dues.
The Enforcement of Security Interest and Recovery of Debts Laws and Miscellan...
This document summarizes key changes made to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) through an amendment act passed in 2016. Some major changes include renaming securitization companies as asset reconstruction companies, allowing non-institutional investors to invest in security receipts, expanding the definition of secured creditor and secured interest, and granting additional powers to the Reserve Bank of India to regulate and audit asset reconstruction companies. The amendments updated various definitions, widened the scope of certain provisions, and exempted asset reconstruction companies from stamp duty in certain asset acquisition transactions.
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)
The document discusses the Debt Recovery Tribunal (DRT) process in India for recovering debts owed to banks and financial institutions. It provides details on the structure and jurisdiction of DRTs and Debt Recovery Appellate Tribunals (DRATs). The summary is:
[1] DRTs are special quasi-judicial forums established under the Recovery of Debts due to Banks and Financial Institution Act, 1993 to allow for the speedy recovery of loans owed to banks and financial institutions.
[2] The document outlines the procedures for banks to file recovery applications with the DRT, including prerequisites taken before filing and requirements for the application.
[3] It also describes the DRT procedures after an
Comparative analysis of TOPS and SARFAESI act
This document provides an overview and summary of key sections under the Transfer of Property Act (TOPA) related to mortgage rights and securitization. It discusses:
1) Sections 68-69 which outline the rights of a mortgagee to sue for mortgage money in specific cases and the power of sale without court intervention if certain conditions are met.
2) Section 69A which allows a mortgagee to appoint a receiver to collect income from mortgaged property, outlines the receiver's powers and responsibilities, and how income received is to be applied.
3) It provides context that TOPA established the framework for mortgagee rights in India that the SARFAESI Act later built upon, allowing secured creditors to sell
Debts recovery tribunal
The document discusses the Debt Recovery Tribunal (DRT) established by the Government of India through the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Act created a separate tribunal system to ensure speedy resolution of loan recovery matters. The DRT handles cases involving debts owed to banks and financial institutions over Rs. 10 lakh. Appeals from DRT decisions can be made to Debts Recovery Appellate Tribunals (DRAT). DRTs have been set up in various cities to help banks and financial institutions recover debts through this legal framework.
Collective Investment Schemes in India
Collective Investment Schemes (CIS) refer to schemes where money is pooled from investors and managed on their behalf by a third party. The Securities and Exchange Board of India regulates CIS through the CIS Regulations of 1999. To operate a CIS legally in India, an entity must register as a Collective Investment Management Company with SEBI. This involves meeting eligibility criteria like a minimum net worth and having experienced directors. SEBI takes strict action against unregistered entities operating illegal CIS through courts, imposing penalties and prosecuting for offenses. Notable cases include orders to wind up schemes against Alchemist Infra Realty and Maitreya Services.
Recovery Management In Banking
Youtube Video Link - https://youtu.be/AJsUYo2GqvE
Banks need to recover the money lent to the borrowers. In case the funds lend becomes npa; it hampers whole banking business and decrease profitability.
“Recovery” is defined as the process of regaining and saving something lost and “Management” is the process of planning, organizing and controlling activities to achieve the objectives of business efficiently.
Recovery Management is thus concerned with designing and implementing a collection of strategy to recover the debts without losing customers.
Recovery measures could be legal and non-legal :- Banks could adopt legal measures to recover loans by filing a suit in civil court or filing an application before the DRTs. Before taking legal actions banks generally give frequent reminders by calls, messages, mails and visit to borrower’s place which is considered as non-legal measures without intervention of court.
Major reasons behind defaults :- Lack of credit evaluation, Inadequacy of collateral security/ equitable mortgage against loan, Lack of follow up measures, Default due to natural calamities etc.
Thank You For Watching
Please Subscribe To DevTech Finance
Taxmann's Consumer Protection Law & Practice
This book is a Comprehensive Guide to New Consumer Protection Law, which is enforced with effect from 20-7-2020/24-7-2020.
What sets this book apart is the compact-comprehensive-commentary supplemented by compilation of the annotated text of the new Consumer Protection Law with Act, Rules, Regulation, Circulars & Notifications, and Draft Rules & Regulations.
The Present Publication is the Latest Edition, updated till 28th July 2020. Coverage of this book includes:
• Guide to Consumer Protection Act, 2019 [Commentary]
○ Background of Consumer Protection Act, 2019
○ What is Consumer Dispute
○ Deficiency in Service
○ Unfair Contracts and Restrictive and Unfair Trade Practices
○ Product Liability
○ Constitution of Consumer Disputes Redressal Commission
○ Constitution & Procedural Aspects of Consumer Disputes
Redressal Commission
○ Mediation
○ Central Consumer Protection Authority
○ Offences and Penalties
○ Consumer Protection Councils
○ Regulation of E-Commerce
○ Direct Selling
○ Other Provisions of the Consumer Protection Act
• Consumer Protection Act, 2019
• Rules & Regulation Framed under the Consumer Protection
Act, 2019
○ Consumer Protection (Central Consumer Protection Council)
Rules, 2020
○ Consumer Protection (Consumer Disputes Redressal
Commissions) Rules, 2020
○ Consumer Protection (General) Rules, 2020
○ Consumer Protection (Mediation) Rules, 2020
○ Consumer Protection (Salary, Allowances and Conditions of
Service of President and Members of the State Commission
and District Commission) Model Rules, 2020
○ Consumer Protection (Qualification for Appointment, Method
of Recruitment, Procedure of Appointment, Term of Office,
Resignation and Removal of the President and Members of
the State Commission and District Commission) Rules, 2020
○ Consumer Protection (E-Commerce) Rules, 2020
○ Consumer Protection (Consumer Commission Procedure)
Regulation, 2020
○ Consumer Protection (Administrative Control over the State
○ Commission and the District Commission) Regulation, 2020
○ Consumer Protection (Mediation) Regulations, 2020
• Circulars and Notifications
• Draft Rules and Regulations Framed under the Consumer
Protection Act, 2019
• Tables:
○ Tables showing sections of the Consumer Protection Act 2019
& corresponding provisions of Consumer Protection Act 1986
and vice-versa
○ Tables showing the date of enforcement of sections of the
Consumer Protection Act, 2019
Accounts of Banking Companies (1.90MB)
This document provides an overview of the accounting and statutory requirements for banking companies in India. It discusses key provisions of the Banking Regulation Act of 1949 regarding minimum capital and reserves, restrictions on commissions and dividends, statutory reserves, cash reserves, restrictions on loans and advances, books of accounts, provisioning of non-performing assets, and preparation of final accounts using the prescribed formats in the Third Schedule of the Act. The document also outlines the various types of business activities permitted for banks and restrictions placed on certain activities.
DRT and DRAT has been of immense help to the bank and the borrower.
The document discusses the Debt Recovery Tribunal (DRT) Act and its purpose of helping banks recover bad loans through a legal process. It established tribunals to more efficiently recover debts owed to banks. The DRT is overseen by a presiding officer and handles cases over 20 lakh rupees. Its judgments can be appealed to the Debt Recovery Appellate Tribunal. The Act aimed to reduce banks' non-performing assets and help their financial position by expediting the debt recovery process.
Asset reconstruction company
Asset Reconstruction company means acquisition by any securitization company or reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realization of such financial assistance. Asset Reconstruction company is a company registered under section 3 of the Securitization & Reconstruction of financial assets & Enforcement of security interest ( SARFAESI ) Act 2002.
It is regulated by RBI as a Non – banking Financial company
RBI has exempted ARCs from the compliances under section 45- 1A ( Requirement of registration & net owned fund ) , Section 45 – 1B ( Maintenance of liquid assets ) , Section 45 – 1C ( Creation of reserve fund ) of the Reserve Bank Act, 1934 .
ARC Functions like an AMC within the guidelines issued by RBI.
The ARC transfers the acquired asset to one or more trusts at the price at which the financial assets were acquired from the originator
https://enterslice.com/nbfc-registration.html
Debt Recovery Tribunal
These slides will give overview of the Debt Recovery Tribunal and its Working of the Tribunal. Further it will help in understanding the requirements for filing an application under the Act.
AMENDMENTS TO SARFAESI ACT/RULES/DRT ACT AND RULES WHICH HAVE BEEN ENFORCED
The document summarizes key amendments to the Security Interest (Enforcement) Rules, 2002 and the Debt Recovery Tribunal (Procedure) Rules, 1993 in India that came into effect from November 4, 2016. Some of the major changes include:
1) Allowing delivery of notices by hand delivery in addition to other modes.
2) Reducing the notice period for subsequent auctions of secured assets from 30 days to 15 days.
3) Allowing service of notices via email in addition to other modes.
4) Providing for public auctions, including e-auctions of secured assets.
5) Reducing timelines for filing written statements and replies in DRT recovery applications.
SARFAESI ACT
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In a single sentence, it pitches the idea of using Haiku Deck to easily design presentations.
Securitisation
This document discusses key aspects of securitization under the SARFAESI Act in India. It defines important terms related to securitization such as originator, obligor, asset reconstruction, and qualified institutional buyer. It describes the steps involved in a securitization transaction, from loan origination to the issuance of asset-backed securities. The advantages of securitization to investors, sellers/originators, and financial markets are provided. Finally, some legal and regulatory issues pertaining to securitization in India are outlined.
More Related Content
What's hot
SARFAESI ACT 2002
The SARFAESI Act allows banks to auction residential and commercial property to recover loans from borrowers who have defaulted on repayments. It aims to help banks reduce non-performing assets. Banks can seize collateral like land for secured loans without court intervention. The Act provides three methods for asset recovery - securitization, asset reconstruction, and enforcement of security interests. It established regulations for securitization companies and allows borrowers to appeal repossession decisions in Debt Recovery Tribunals.
Securitisation and reconstruction of financial assets and enforcement of secu...
The SARFAESI Act enables secured creditors like banks and financial institutions to enforce their security without court intervention. It allows creditors to take possession of secured assets, sell them, or assign rights over them to recover loans in case of default. The Act established mechanisms for asset reconstruction companies to acquire financial assets from banks and issue security receipts to investors. It defines terms like borrower, financial asset, and non-performing asset. The constitutional validity of the Act was upheld by the Supreme Court. Methods of recovery include securitization, asset reconstruction, and direct enforcement of security. Amendments allowed debt to equity conversion and banks to purchase auctioned properties under certain conditions.
SARFAESI Act, 2002
The SARFAESI Act allows banks and financial institutions to recover non-performing assets without court intervention. It aims to expedite recovery of NPAs. The act empowers lenders to issue recovery notices giving 60 days to pay dues and take possession of secured assets if dues are not paid. It provides three methods for NPA recovery - securitization, asset reconstruction, and enforcement of security. The act applies to NPAs over Rs. 1 lakh and was expanded to include NBFCs.
SARFAESI Act
This document provides a summary of the SARFAESI Act of 2002 and the evolution of debt recovery systems in the Indian banking sector. It discusses how non-performing assets piled up in the sector due to inadequate debt recovery mechanisms and long civil court processes. This led to various committees and reforms over time to improve recovery of debts, including the establishment of Debt Recovery Tribunals, introduction of prudential norms, and reductions in statutory reserve requirements. A key reform was the enactment of the SARFAESI Act in 2002, which allowed banks and financial institutions to enforce security interests without court intervention.
Debt recovery tribunal act
The document summarizes the Debt Recovery Tribunal Act of 1993 in India. Key points:
- It establishes Debt Recovery Tribunals and Appellate Tribunals to facilitate recovery of debts owed to banks and financial institutions exceeding 10 lakh rupees.
- The Tribunals have jurisdiction over cases where the debtor resides or operates within specified areas. Banks can apply to the Tribunals to recover debts.
- The Tribunals determine the amount owed and issue certificates to Recovery Officers to attach/sell debtor properties, arrest the debtor, or appoint receivers to recover the debt. Debtors can appeal amounts but must deposit 75% of the determined debt.
Handout On SARFAESI
The SARFAESI Act allows banks and financial institutions to recover non-performing assets (NPAs) through securitization or asset reconstruction. It established provisions for registration and regulation of securitization companies and asset reconstruction companies. These companies can acquire financial assets from banks, issue security receipts to qualified institutional buyers, and employ measures to resolve NPAs such as debt restructuring, taking possession of collateral, and changing borrower management. However, issues with the SARFAESI Act include a thin investor base limited to qualified buyers and investor appetite focused only on short-term, highly-rated securities.
Sarfaesi Act
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) allows banks and financial institutions to seize assets like property from borrowers who have defaulted on loans above Rs. 1 lakh. Under this Act, banks can take possession of secured assets without court intervention and auction them to recover unpaid debts. It aims to reduce non-performing assets of banks by expediting the recovery process. The Act also establishes Asset Reconstruction Companies that can acquire NPAs from banks to help resolve bad loans.
Sarfaesi Act 2002
The SARFAESI Act allows secured creditors like banks to enforce security interest for recovery of dues without court intervention. It gives banks the power to take possession of secured assets, sell them, or take over management upon default. The key steps are issuing a 60-day demand notice, taking possession if not paid, appointing an authorized officer, valuating and auctioning the assets. The debtor can raise objections within 15 days of notice or approach DRT within 45 days, otherwise the bank may proceed to sell the assets to recover dues.
The Enforcement of Security Interest and Recovery of Debts Laws and Miscellan...
This document summarizes key changes made to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) through an amendment act passed in 2016. Some major changes include renaming securitization companies as asset reconstruction companies, allowing non-institutional investors to invest in security receipts, expanding the definition of secured creditor and secured interest, and granting additional powers to the Reserve Bank of India to regulate and audit asset reconstruction companies. The amendments updated various definitions, widened the scope of certain provisions, and exempted asset reconstruction companies from stamp duty in certain asset acquisition transactions.
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)
The document discusses the Debt Recovery Tribunal (DRT) process in India for recovering debts owed to banks and financial institutions. It provides details on the structure and jurisdiction of DRTs and Debt Recovery Appellate Tribunals (DRATs). The summary is:
[1] DRTs are special quasi-judicial forums established under the Recovery of Debts due to Banks and Financial Institution Act, 1993 to allow for the speedy recovery of loans owed to banks and financial institutions.
[2] The document outlines the procedures for banks to file recovery applications with the DRT, including prerequisites taken before filing and requirements for the application.
[3] It also describes the DRT procedures after an
Comparative analysis of TOPS and SARFAESI act
This document provides an overview and summary of key sections under the Transfer of Property Act (TOPA) related to mortgage rights and securitization. It discusses:
1) Sections 68-69 which outline the rights of a mortgagee to sue for mortgage money in specific cases and the power of sale without court intervention if certain conditions are met.
2) Section 69A which allows a mortgagee to appoint a receiver to collect income from mortgaged property, outlines the receiver's powers and responsibilities, and how income received is to be applied.
3) It provides context that TOPA established the framework for mortgagee rights in India that the SARFAESI Act later built upon, allowing secured creditors to sell
Debts recovery tribunal
The document discusses the Debt Recovery Tribunal (DRT) established by the Government of India through the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Act created a separate tribunal system to ensure speedy resolution of loan recovery matters. The DRT handles cases involving debts owed to banks and financial institutions over Rs. 10 lakh. Appeals from DRT decisions can be made to Debts Recovery Appellate Tribunals (DRAT). DRTs have been set up in various cities to help banks and financial institutions recover debts through this legal framework.
Collective Investment Schemes in India
Collective Investment Schemes (CIS) refer to schemes where money is pooled from investors and managed on their behalf by a third party. The Securities and Exchange Board of India regulates CIS through the CIS Regulations of 1999. To operate a CIS legally in India, an entity must register as a Collective Investment Management Company with SEBI. This involves meeting eligibility criteria like a minimum net worth and having experienced directors. SEBI takes strict action against unregistered entities operating illegal CIS through courts, imposing penalties and prosecuting for offenses. Notable cases include orders to wind up schemes against Alchemist Infra Realty and Maitreya Services.
Recovery Management In Banking
Youtube Video Link - https://youtu.be/AJsUYo2GqvE
Banks need to recover the money lent to the borrowers. In case the funds lend becomes npa; it hampers whole banking business and decrease profitability.
“Recovery” is defined as the process of regaining and saving something lost and “Management” is the process of planning, organizing and controlling activities to achieve the objectives of business efficiently.
Recovery Management is thus concerned with designing and implementing a collection of strategy to recover the debts without losing customers.
Recovery measures could be legal and non-legal :- Banks could adopt legal measures to recover loans by filing a suit in civil court or filing an application before the DRTs. Before taking legal actions banks generally give frequent reminders by calls, messages, mails and visit to borrower’s place which is considered as non-legal measures without intervention of court.
Major reasons behind defaults :- Lack of credit evaluation, Inadequacy of collateral security/ equitable mortgage against loan, Lack of follow up measures, Default due to natural calamities etc.
Thank You For Watching
Please Subscribe To DevTech Finance
Taxmann's Consumer Protection Law & Practice
This book is a Comprehensive Guide to New Consumer Protection Law, which is enforced with effect from 20-7-2020/24-7-2020.
What sets this book apart is the compact-comprehensive-commentary supplemented by compilation of the annotated text of the new Consumer Protection Law with Act, Rules, Regulation, Circulars & Notifications, and Draft Rules & Regulations.
The Present Publication is the Latest Edition, updated till 28th July 2020. Coverage of this book includes:
• Guide to Consumer Protection Act, 2019 [Commentary]
○ Background of Consumer Protection Act, 2019
○ What is Consumer Dispute
○ Deficiency in Service
○ Unfair Contracts and Restrictive and Unfair Trade Practices
○ Product Liability
○ Constitution of Consumer Disputes Redressal Commission
○ Constitution & Procedural Aspects of Consumer Disputes
Redressal Commission
○ Mediation
○ Central Consumer Protection Authority
○ Offences and Penalties
○ Consumer Protection Councils
○ Regulation of E-Commerce
○ Direct Selling
○ Other Provisions of the Consumer Protection Act
• Consumer Protection Act, 2019
• Rules & Regulation Framed under the Consumer Protection
Act, 2019
○ Consumer Protection (Central Consumer Protection Council)
Rules, 2020
○ Consumer Protection (Consumer Disputes Redressal
Commissions) Rules, 2020
○ Consumer Protection (General) Rules, 2020
○ Consumer Protection (Mediation) Rules, 2020
○ Consumer Protection (Salary, Allowances and Conditions of
Service of President and Members of the State Commission
and District Commission) Model Rules, 2020
○ Consumer Protection (Qualification for Appointment, Method
of Recruitment, Procedure of Appointment, Term of Office,
Resignation and Removal of the President and Members of
the State Commission and District Commission) Rules, 2020
○ Consumer Protection (E-Commerce) Rules, 2020
○ Consumer Protection (Consumer Commission Procedure)
Regulation, 2020
○ Consumer Protection (Administrative Control over the State
○ Commission and the District Commission) Regulation, 2020
○ Consumer Protection (Mediation) Regulations, 2020
• Circulars and Notifications
• Draft Rules and Regulations Framed under the Consumer
Protection Act, 2019
• Tables:
○ Tables showing sections of the Consumer Protection Act 2019
& corresponding provisions of Consumer Protection Act 1986
and vice-versa
○ Tables showing the date of enforcement of sections of the
Consumer Protection Act, 2019
Accounts of Banking Companies (1.90MB)
This document provides an overview of the accounting and statutory requirements for banking companies in India. It discusses key provisions of the Banking Regulation Act of 1949 regarding minimum capital and reserves, restrictions on commissions and dividends, statutory reserves, cash reserves, restrictions on loans and advances, books of accounts, provisioning of non-performing assets, and preparation of final accounts using the prescribed formats in the Third Schedule of the Act. The document also outlines the various types of business activities permitted for banks and restrictions placed on certain activities.
DRT and DRAT has been of immense help to the bank and the borrower.
The document discusses the Debt Recovery Tribunal (DRT) Act and its purpose of helping banks recover bad loans through a legal process. It established tribunals to more efficiently recover debts owed to banks. The DRT is overseen by a presiding officer and handles cases over 20 lakh rupees. Its judgments can be appealed to the Debt Recovery Appellate Tribunal. The Act aimed to reduce banks' non-performing assets and help their financial position by expediting the debt recovery process.
Asset reconstruction company
Asset Reconstruction company means acquisition by any securitization company or reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realization of such financial assistance. Asset Reconstruction company is a company registered under section 3 of the Securitization & Reconstruction of financial assets & Enforcement of security interest ( SARFAESI ) Act 2002.
It is regulated by RBI as a Non – banking Financial company
RBI has exempted ARCs from the compliances under section 45- 1A ( Requirement of registration & net owned fund ) , Section 45 – 1B ( Maintenance of liquid assets ) , Section 45 – 1C ( Creation of reserve fund ) of the Reserve Bank Act, 1934 .
ARC Functions like an AMC within the guidelines issued by RBI.
The ARC transfers the acquired asset to one or more trusts at the price at which the financial assets were acquired from the originator
https://enterslice.com/nbfc-registration.html
Debt Recovery Tribunal
These slides will give overview of the Debt Recovery Tribunal and its Working of the Tribunal. Further it will help in understanding the requirements for filing an application under the Act.
AMENDMENTS TO SARFAESI ACT/RULES/DRT ACT AND RULES WHICH HAVE BEEN ENFORCED
The document summarizes key amendments to the Security Interest (Enforcement) Rules, 2002 and the Debt Recovery Tribunal (Procedure) Rules, 1993 in India that came into effect from November 4, 2016. Some of the major changes include:
1) Allowing delivery of notices by hand delivery in addition to other modes.
2) Reducing the notice period for subsequent auctions of secured assets from 30 days to 15 days.
3) Allowing service of notices via email in addition to other modes.
4) Providing for public auctions, including e-auctions of secured assets.
5) Reducing timelines for filing written statements and replies in DRT recovery applications.
What's hot (20)
Securitisation and reconstruction of financial assets and enforcement of secu...
Securitisation and reconstruction of financial assets and enforcement of secu...
The Enforcement of Security Interest and Recovery of Debts Laws and Miscellan...
The Enforcement of Security Interest and Recovery of Debts Laws and Miscellan...
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)
DRT and DRAT has been of immense help to the bank and the borrower.
DRT and DRAT has been of immense help to the bank and the borrower.
AMENDMENTS TO SARFAESI ACT/RULES/DRT ACT AND RULES WHICH HAVE BEEN ENFORCED
AMENDMENTS TO SARFAESI ACT/RULES/DRT ACT AND RULES WHICH HAVE BEEN ENFORCED
Viewers also liked
SARFAESI ACT
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In a single sentence, it pitches the idea of using Haiku Deck to easily design presentations.
Securitisation
This document discusses key aspects of securitization under the SARFAESI Act in India. It defines important terms related to securitization such as originator, obligor, asset reconstruction, and qualified institutional buyer. It describes the steps involved in a securitization transaction, from loan origination to the issuance of asset-backed securities. The advantages of securitization to investors, sellers/originators, and financial markets are provided. Finally, some legal and regulatory issues pertaining to securitization in India are outlined.
Onicra Vendor Rating
Onicra Credit Rating Agency provides vendor rating and management services to help companies evaluate, monitor, and manage their vendor base. This presentation outlines Onicra's vendor rating methodology which comprehensively assesses vendors across several parameters including promoter profile, group details, managerial dynamics, financial performance, operations, quality, and more. The goal is to help clients identify risks, benchmark vendors, and select the right partners through an objective, data-driven process. Onicra's ratings also benefit vendors by enhancing their acceptability and access to financing.
3a740 Role Of Rbi
The document provides an overview of the role and functions of the Reserve Bank of India (RBI), which serves as the central bank of India. It establishes that the RBI was established in 1935 according to the Reserve Bank of India Act of 1934. The key responsibilities of the RBI include issuing and managing currency, serving as the banker to the government, supervising commercial banks, and regulating money supply and credit in India to promote monetary stability and economic growth. The RBI utilizes various monetary policy tools and techniques to achieve its objectives of maintaining price stability and controlling expansion of bank credit in India.
Indian financial system
This document provides an overview of the Indian financial system, including its key components and institutions. It discusses the three main parts of a financial system: financial assets, financial institutions, and financial markets. It describes various financial assets and instruments, money market instruments, types of financial institutions, and different financial markets. It also provides details on the evolution of banking in India, including the nationalization of banks, branch expansion, and the increasing role of commercial banks. The document summarizes recommendations to improve bank profitability and reduce non-performing assets. Finally, it concludes with a brief overview of the Indian capital market and various financial intermediaries.
HISTORY OF BANKING LAW IN INDIA
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In just one sentence, it pitches the idea of using Haiku Deck to easily create engaging slideshows.
THE BANKERS' BOOK EVIDENCE ACT, 1891
This document summarizes the Bankers' Book Evidence Act of 1891 in Bangladesh. The act aims to amend laws related to admitting bankers' books as evidence in legal proceedings. It allows certified copies of entries in bankers' books to be admitted as prima facie evidence. It also prevents bank officers from being compelled to produce bank books or appear as witnesses, unless ordered by the court. The act grants courts power to order parties to inspect and copy bank entries, and banks must prepare certified copies of relevant entries. It gives courts discretion over costs related to applying the act.
Banking Law (Reserve Bank of India)
The document summarizes the Banking Laws (Amendment) Act of 2012 in India. The Act aims to strengthen regulatory powers of the Reserve Bank of India (RBI) and further develop the banking sector. Key changes include allowing nationalized banks to raise capital through stock issues without authorization limits, and increased oversight powers for RBI including superseding bank boards if needed to protect depositor interests. The Act also establishes a Depositor Education and Awareness Fund and requires RBI approval for acquiring over 5% ownership of a bank.
Securitization and debt recovery ii
The document discusses the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, which was passed to facilitate the speedy adjudication of matters relating to recovery of debts owed to banks and financial institutions. It established Debt Recovery Tribunals and Debt Recovery Appellate Tribunals across India to handle such cases. The tribunals have similar powers to civil courts and follow procedures to allow banks/FIs to file applications, defendants to respond, and include provisions for appeals, interim orders, and debt recovery. As of now, there are 29 DRTs and 5 DRATs constituted across the country to help banks/FIs recover bad debts efficiently.
Banking and finance laws
The document discusses several key banking and finance laws in India. It provides an overview of the objectives and importance of studying banking and finance laws in India. It then summarizes some of the major laws administered by the Department of Financial Services, including the Negotiable Instruments Act of 1881, the Reserve Bank of India Act of 1934, the Banking Regulation Act of 1949, the Deposit Insurance and Credit Guarantee Corporation Act of 1961, and the Sick Industrial Companies Act of 1985. The document outlines the purpose and some key aspects of these important banking and finance laws in India.
Understanding the Reserve Bank Of India
The Reserve Bank of India (RBI) is the central bank of India established in 1935 in Kolkata. Some key roles and responsibilities of RBI include acting as the banker to the central and state governments in India, regulating the country's banking and financial system, managing the country's foreign exchange and gold reserves, acting as a lender of last resort to banks, and formulating and implementing the country's monetary policy to control inflation and ensure financial stability. RBI oversees various functions including currency issue, development initiatives, and clearing house operations across major cities. It regulates commercial banks through various policies related to licensing, management, branch expansion, and inspections.
Banking Ombudsman Complaints profile
- The Banking Ombudsman scheme provides an inexpensive forum for bank customers to resolve complaints relating to certain banking services.
- In 2012-13, 15 Banking Ombudsmen covering 29 states and 7 union territories received a total of 70541 complaints, a 3% decline from the previous year.
- The majority of complaints were received from individual customers, accounting for 93% of total complaints. New Delhi, Kanpur, Mumbai and Chennai OBOs received the highest number of complaints, over 5000 each.
Practise of principles of banking & insurance (ppbi)
The document provides an overview of the origin and evolution of banking in India. It begins with the earliest forms of banking in ancient times in India and Babylon. It then discusses the establishment of the first banks by the East India Company in India in the 1800s and the subsequent nationalization of banks in the 1950s and 1960s. It also outlines some key reforms and developments in the banking sector in India after independence, including the liberalization of the sector starting in the 1990s. The key functions and regulations governing banking as per the Banking Regulation Act of 1949 are also summarized.
Banking law module_2_2012
The document discusses the evolution and development of the Indian banking sector. Some key points:
- Banking concepts existed in India prior to British rule through money lending practices mentioned in ancient texts. The modern concept of banking was introduced by the British in the 18th century.
- Several private banks were established between the 18th-early 20th century like the Bank of Hindustan, Bank of Calcutta. Limited liability for banks was introduced in 1860.
- Between 1906-1913, several Swadeshi movement banks were started in response to the British. The period was followed by a crash in 1913-1917.
- In 1920, the Imperial Bank of India was formed through the merger of
Vendor/Supplier rating
This document outlines a scoring system for evaluating supplier quality performance. It includes scoring criteria in four categories: quality performance, on-time delivery (OTD), quality apparent, and situation response. Quality performance and OTD are each scored out of 1.0, while the total score is calculated as the product of all four category scores, with a maximum total score of 4.0. Deviations are classified as major or minor and deduct from the quality performance score. OTD score is based on receipt date relative to targets. Quality apparent considers inspection results. Situation response is judged by the buyer. The document provides examples of applying the scoring methodology and interprets the final score ratings.
Recovery of debt due to bank and financial institutions, 1993
1. The document discusses the establishment, jurisdiction, powers, and procedures of Tribunals and Appellate Tribunals established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
2. Tribunals have the jurisdiction to entertain and decide applications from banks and financial institutions for recovery of debts. Appellate Tribunals have jurisdiction over appeals against Tribunal orders.
3. Tribunals are headed by a Presiding Officer, while Appellate Tribunals are headed by a Chairperson. Their qualifications, terms, resignation process, and removal process are outlined.
4. The document also describes the application and appeal procedures before these bodies, their powers, and the process
RBI & Its role in the Indian Banking Sector
The Reserve Bank of India (RBI) is India's central bank and regulates the entire banking system. It was established in 1935 and nationalized in 1949. RBI controls monetary policy, issues currency, acts as a banker and debt manager to the government, regulates and supervises banks, and plays a developmental role in the economy. As the regulator of banks, RBI uses various tools like cash reserve ratio, statutory liquidity ratio, repo and reverse repo rates, open market operations, and the marginal cost of funds based lending rate to regulate money supply and control inflation in the country.
Securitization
The document discusses securitization, which involves a corporation transferring assets like mortgages or receivables to a special purpose vehicle (SPV) that issues securities backed by those assets. The key aspects of securitization include bankruptcy remoteness of the assets, credit enhancement to obtain high credit ratings, and structuring cash flows and securities to meet investor needs.
Joseph taradyna project about banking
Joseph taradyna: DEFINITION OF BANKING Banking Regulation Act 1949 defines banking as, “ACCEPTING FOR THE PURPOSE OF LENDING AND INVESTMENT, OF DEPOSITS OF MONEY FROM THE PUBLIC, REPAYABLE ON DEMAND, ORDER OR OTHERWISE AND WITHDRAWABLE BY CHEQUE,DRAFT,ORDER OR OTHERWISE”
RBI and its role presentation
This document provides an overview of the Reserve Bank of India (RBI), including its history, functions, monetary policy tools, and credit controls. It establishes that the RBI was established in 1935 and nationalized in 1949. It acts as the central bank, banker to the government, lender of last resort, and controller of money supply and credit in India through various monetary policy tools like bank rate, cash reserve ratio, and open market operations.
Viewers also liked (20)
Practise of principles of banking & insurance (ppbi)
Practise of principles of banking & insurance (ppbi)
Recovery of debt due to bank and financial institutions, 1993
Recovery of debt due to bank and financial institutions, 1993
Similar to Sarfaesi act
Banking law
This document provides an overview of the Banking Offense and Punishment Act 2064 of Nepal. It outlines the Act's 5 chapters which establish banking offenses, corresponding punishments, and legal proceedings. Key offenses include unauthorized account opening, loan activities, and credit/resource misuse. Punishments include fines and imprisonment depending on the offense and claimed amount. The Act aims to curb banking crimes and outlines investigative powers and procedures to effectively prosecute offenses.
Be aware of the legal consequences of issuing guarantee cheques in uae
The bank Guarantee in UAE is governed under Civil Transaction law No 5 of 1985 owing to its commercial nature heedless of the capacity of the party to whom such an instrument is issued or the reason for which it is issued. The concerned article by Civil lawyers of Dubai not only discuss the meaning of guarantee cheque but the legal consequences surrounding such cheques when issued in UAE.
securitisation.pptx
The SARFAESI Act gives banks powers to recover loans from defaulting borrowers. It allows banks to issue a 60-day notice for loan repayment. If unpaid, banks can take possession of secured assets and sell them to recover dues. The Act established Asset Reconstruction Companies regulated by RBI to acquire NPAs from banks. ARCs must be registered with RBI and meet net worth requirements. They can issue security receipts to qualified buyers and investors for acquired assets. The DRT provides an avenue for borrower appeals, which must be filed within 45 days with 50% of claimed dues deposited.
BANKING p (2)
Bankers have important rights and obligations regarding their customers. Some key rights include the right of lien, which allows bankers to retain customer goods/securities until debts are repaid, and the right of set-off, which lets bankers adjust debit and credit balances in different customer accounts. Bankers also have obligations like honoring customer checks if sufficient funds are available and maintaining secrecy of customer accounts, though some disclosure is permitted by law or to protect the banker's interests.
12. npa & recovery management
This document discusses non-performing assets (NPAs) in banks. It notes that NPAs are loan accounts that do not generate income for the bank. Common causes of NPAs include poor selection of borrowers, lack of timely support, and failure to monitor loans. The document outlines the classification standards for NPAs as standard, sub-standard, doubtful, and loss. It also discusses various legal recovery mechanisms available to banks for recovering NPAs, including Debt Recovery Tribunals, SARFAESI Act, and sale of NPAs to asset reconstruction companies.
What is the procedure for corporate insolvency resolution under the IBC.pdf
A recovery method made available to creditors under the Insolvency and Bankruptcy Code (IBC) is the Corporate Insolvency Resolution Process (CIRP). The concerned creditor or the corporate entity (the debtor) itself may start CIRP in the event that a corporate entity becomes insolvent (unable to repay debt).
Loans & deposits as per new companies act 2013
The document discusses the key changes in the Companies Act, 2013 regarding loans and deposits for companies. Some of the main points covered are:
1) Private companies can now only borrow from directors and financial institutions, removing shareholders and relatives of directors from the list of permitted lenders.
2) Strict limits are placed on accepting deposits, with private companies only allowed to accept from directors. Compliance with additional rules is required to accept deposits from non-directors.
3) Loans to directors and other interested parties are prohibited, with some exceptions. Shareholder approval is required if total borrowings exceed paid-up capital and reserves.
4) Strict rules also govern acceptance of deposits from the public, including
ESCROW AGREEMENT
ESCROW AGREEMENT FORMAT
FREE LEGAL AND ACCOUNTANT FORMATS
KANOON KE RAKHWALE INDIA
HIRE LAWYER ONLINE
LAW FIRMS IN DELHI
CA FIRM DELHI
VISIT : https://www.kanoonkerakhwale.com/
VISIT : https://hirelawyeronline.com/
fair practices codes and lenders liability
This document outlines guidelines for fair lending practices and lender liability according to the Reserve Bank of India (RBI). It discusses how lenders should process loan applications within certain timeframes depending on loan size. It also covers how lenders should appraise loans, communicate terms and conditions to borrowers, disburse loans, conduct post-disbursement supervision, handle complaints, and minimize liability issues. Lenders must avoid discrimination, harassment of borrowers, and handle recovery and security release appropriately according to the guidelines.
Unfair claims-settlement-practices-act
The purpose of this Act is to set forth standards for the investigation and disposition of claims arising under policies or certificates of insurance issued to residents of different states. Cease and Desist and Penalty Orders. Unfair Claims Practices Defined.
Banning of Unregulated Deposit Schemes Act, 2019 with connected Rules and Not...
This document summarizes key aspects of the Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) in India. The Act bans unregulated deposit schemes and establishes authorities to regulate deposits. It defines regulated and unregulated deposits, outlines offenses and punishments for violating the Act, and establishes designated courts to handle related cases. The Act aims to curb financial crimes involving large sums of money from unregulated deposits and provide relief to victims.
Malaysia Home Loan
Malaysia home loan and Malaysia Property guide to home and housing loans in Malaysia, offering all banks in Malaysia!
borrowing powers
The document discusses the borrowing powers and restrictions on borrowing for companies under Indian law. It provides details on:
- Companies have implied power to borrow, while non-trading companies must include this power in their memorandum.
- The key restrictions on borrowing include limits based on paid-up capital and reserves, and requirements for shareholder authorization for amounts over these limits.
- Borrowings must be registered within 30 days for charges over specific assets like property or within 300 days with a late fee. Lenders can also register in some cases. The registrar issues certificates of registration and satisfaction.
Bankruptcy Act 1997 (By BU AIS 2nd Batch)
This document is a presentation on the Bankruptcy Act of 1997 given by a group of students at the University of Barisal. It defines key terms related to bankruptcy such as adjudication, creditors, debtors, and discharge. It explains that bankruptcy is a legal process that allows individuals who cannot pay their debts to eliminate or discharge most of their debts and get a fresh start. It discusses who can and cannot be declared bankrupt under the Act and the conditions for creditors and debtors to file bankruptcy petitions. The effects of an order of adjudication are that the bankrupt must assist in realizing and distributing their property to creditors, all non-exempt property vests in the receiver or court, and the bankrupt loses power to enter transactions binding creditors
General Concepts of Loan
Learn about general concepts of lending process in a bank. To whom a bank can give Loan? When a bank cannot give loan?
Collective investment scheme
This document defines and explains collective investment schemes under Indian law. It notes that a collective investment scheme pools contributions from investors which are then used to generate profits, income or property for the investors, with investors having no day-to-day control over management. It provides examples of schemes that are not considered collective investment schemes, defines collective investment management companies, and outlines regulations around existing schemes, raising new funds, registration requirements, investor rights and redressal mechanisms.
Recoveries & Foreclosures.ppt
This document provides information about housing finance, foreclosures, types of foreclosures (judicial sale, power of sale, strict foreclosure), mortgage law in Pakistan, types of mortgages (simple, conditional sale, usufructuary, English, equitable, anomalous), relevant sections of the Financial Institutions (Recovery of Finances) Ordinance 2001, and formats for demand notices issued under Section 15(2) of the Ordinance. The document defines key terms, outlines the legal processes and rights involved in foreclosures and recovery of finances through mortgaged properties in Pakistan.
The insolvency and bankruptcy code,2016
The document summarizes India's Insolvency and Bankruptcy Code of 2016. It consolidates previous bankruptcy laws into a single code and establishes mechanisms for insolvency resolution, regulation, and adjudication. The code aims to promote business and availability of credit. It outlines procedures for insolvency resolution and liquidation of corporate entities. If resolution fails, assets are liquidated according to the order of priority of payments to secured creditors, wages, financial and unsecured debts. The code establishes a new framework for addressing insolvency and bankruptcy in India.
drtppt-170218092906.pdf
The document provides an overview of Debt Recovery Tribunals (DRTs) in India. Key points:
- DRTs were constituted under the Recovery of Debts Due to Banks and Financial Institutions Act to allow for faster recovery of debts compared to civil courts.
- DRTs have jurisdiction over cases where the debt owed is over Rs. 10 lakhs. They are aimed to settle cases within 180 days.
- DRTs are headed by a Presiding Officer who must be qualified as a district judge. Recovery Officers execute orders to recover debts.
- Original Applications are filed with the DRT to recover debts, along with documents as proof. Interim orders can restrain sale of assets until the
Overview of Debt Rcovery Tribunal
These Slides will help in understanding the procedure of Debt Recovery Tribunal briefly along with the requirement for filing an application before the Tribunal.
Similar to Sarfaesi act (20)
Be aware of the legal consequences of issuing guarantee cheques in uae
Be aware of the legal consequences of issuing guarantee cheques in uae
What is the procedure for corporate insolvency resolution under the IBC.pdf
What is the procedure for corporate insolvency resolution under the IBC.pdf
Banning of Unregulated Deposit Schemes Act, 2019 with connected Rules and Not...
Banning of Unregulated Deposit Schemes Act, 2019 with connected Rules and Not...
More from Abhishek Jain
Call Centre Management
The document discusses a call center management system that allows managers to measure, control, and optimize call center performance. It provides real-time monitoring of call volume and agent activity across multiple sites. The system includes applications for call center configuration, real-time reporting, historical reporting, and wall displays. The latest version adds additional real-time monitoring windows, report scheduling and distribution enhancements, and a new "mini" wall display unit.
Failure mode effect analysis
FMEA is a systematic method for identifying and preventing potential problems or failures in a design, product or process. It was developed in the 1960s for the aerospace industry. The key purposes of FMEA are to identify potential failure modes and their causes, eliminate or reduce risks, and document the analysis. FMEA is applied in both design processes and operational processes to improve quality by minimizing failures. Common mistakes include applying FMEA too late, having the wrong team members, and overdependence on numerical ratings.
Telecom interface
India has the second largest telecommunications network in the world based on total telephone users. It also has one of the lowest call rates globally and the third largest Internet user base. Major sectors of the Indian telecom industry are telephony, internet, and television broadcasting.
An automatic call distributor is a system that routes incoming phone calls to available call center agents based on rules. It uses hardware, phone lines, and software to determine the best agent to handle each call based on data collected from the caller. Originally, this system was internal to private phone exchanges, but external computing devices now make routing decisions.
Job sheets are documents created by managers to clearly define the tasks and responsibilities of employee positions. They aim to
Value stream mapping
Value stream mapping is a lean management tool used to analyze and improve the flow of materials and information needed to deliver a product or service to customers. It involves mapping the current process, identifying waste, and designing a future state with minimum waste. The goal is to provide optimum value to customers through efficient flow and elimination of waste at each step from design to delivery and throughout the product lifecycle. Value stream mapping provides an overall vision to connect separate improvement activities and strengthen gains across the entire process.
Social Media and its effects on youth
This document discusses social media and its effects on youth. It provides statistics on social media usage, such as the amount of time teens spend on social platforms versus other online activities. The document also explores some negative impacts of social media and excessive screen time on teens, such as lower academic achievement, shorter attention spans, anxiety, and increased risk of cyberbullying. Studies discussed found links between media exposure and increased aggression as well as greater activation in the brain regions associated with emotion and memory. The document concludes with some ways to help combat these negative effects, such as media literacy education and moderating media consumption.
Technology as A Tool for Turnaround: A Case of Scooter India Limited
- Scooter India Limited (SIL) was incorporated in 1972 as a joint venture to manufacture scooters but faced many initial problems including delays, inadequate human resource planning, and prioritizing low cost over technology.
- Its first product, the Vijay Deluxe scooter, developed a poor reputation due to inferior quality and frequent breakdowns. SIL also experienced its first labor strike in 1977 over issues of payment and bonuses.
- Through the 1970s and 1980s, SIL struggled with increased competition, financial difficulties, and deteriorating quality as it took on additional businesses like three-wheelers and precision instruments that performed poorly.
- By the late 1980s, SIL was losing money
Role of knowledge management in banking sector
Knowledge management is important for banking organizations to capture valuable information from employees and make it accessible to others. Common knowledge management applications in banking include risk management, customer relationship management, marketing, and performance evaluation. While most banks use some knowledge management practices, comprehensive knowledge management systems could help banks improve decision making, customer service, and gain a competitive advantage. The paper reviews literature on knowledge management in banking and identifies common applications and growing techniques in the sector.
fiscal cliff
The fiscal cliff refers to the combination of tax increases and spending cuts scheduled to take effect in January 2013 as a result of previous legislation. If Congress does not act, the fiscal cliff could cut GDP by 4% and cause a recession with higher unemployment. However, Congress still has opportunities to compromise and pass replacement legislation to avoid the full impact. The term "fiscal cliff" is somewhat misleading because Congress can still retroactively change the scheduled policies after January 2013.
process of floating of ipo and role of merchant banker
The document discusses the role of merchant bankers in the initial public offering (IPO) process. It explains that when a company wants to raise funds through an IPO, it appoints a merchant banker to handle the process. The merchant banker assesses the company's performance and earnings potential to determine an appropriate issue price. It is responsible for completing all required documentation for regulatory approval. For large IPOs, a syndicate of merchant banks may work together with one leading the process. The key roles of the merchant banker include managing debt and equity offerings, placement and distribution of securities, providing corporate advisory services, assisting with project financing, loan syndication, and venture capital financing.
Patent Disputes in IT Industry
The document discusses patent disputes in the IT industry. It provides background information on information technology and defines patents. Patents provide exclusive rights to inventors for a limited time in exchange for publicly disclosing inventions. The document outlines patent application requirements and processes. It gives examples of patent disputes between major companies, such as Apple v Samsung over smartphone design patents, where Apple was awarded over $1 billion, and Nokia v RIM related to wireless network technology licensing agreements.
Gmr group family business ppt
GMR Group was founded by G.M. Rao after he received a jute mill from his brothers when they separated their family trading business. He expanded the business into various infrastructure sectors such as airports, highways, power and urban development. Rao established strong family governance practices through a family constitution and council to oversee transition of the business across generations. The constitution aimed to professionalize management while maintaining family control over strategy. It addressed issues like performance reviews, internships and separating family and business values to help sustain the business for future generations.
Harvest gold
Harvest Gold was started in 1993 by two entrepreneurs who saw an opportunity in the untapped bread market in Delhi. They launched white bread and saw instant success, reaching Rs. 400 million in turnover within five years. While Modern and Britannia dominated the market, Harvest Gold was able to gain market share during issues those companies faced with distribution and restructuring. Through strong distribution and mobile branding on their trucks, Harvest Gold continued growing and became the market leader in Delhi with 80% market share and a turnover of Rs. 1.2 billion within two years of their launch. They expanded their product line and faced challenges from copycats, requiring them to focus on branding and humorous advertising to differentiate themselves in the competitive market.
Wallmart's suppy chain management service
Wal-Mart has highly efficient supply chain management practices that have contributed to its success. It uses advanced IT systems and large distribution centers to procure goods directly from manufacturers. This allows Wal-Mart to replenish stores within 2 days, faster than competitors. Wal-Mart also owns thousands of trucks that deliver goods, keeping transportation costs lower than competitors. Through constant communication between stores and suppliers, Wal-Mart keeps close track of inventory levels and sales data to forecast demand. These integrated supply chain practices help Wal-Mart offer consistently low prices that drive high sales volumes.
The office grapevine
this presentation is about office grapewine and how the management can use this as a tool of effective communication
Holy quran
The document discusses several topics related to the Qur'an including its essence and philosophy, universal values mentioned within, and how its teachings can help manage conflict and stress. Some key points:
1) The Qur'an deals with problems related to concepts like God, the world, the soul, good and evil while also addressing existence, attributes, human destiny, and more.
2) It promotes values like worshipping God alone, kindness to parents, avoiding wastefulness, not killing children, prohibiting adultery and unjust killing.
3) Managing stress can be done by practicing Qur'anic teachings like accepting that everything belongs to God, not mourning losses beyond our control, and finding
More from Abhishek Jain (15)
Technology as A Tool for Turnaround: A Case of Scooter India Limited
Technology as A Tool for Turnaround: A Case of Scooter India Limited
process of floating of ipo and role of merchant banker
process of floating of ipo and role of merchant banker
Recently uploaded
The Genesis of BriansClub.cm Famous Dark WEb Platform
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Top mailing list providers in the USA.pptx
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
2022 Vintage Roman Numerals Men Rings
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
一比一原版(QMUE毕业证书)英国爱丁堡玛格丽特女王大学毕业证文凭如何办理
永久可查学历认证【微信：A575476】【(QMUE毕业证书)英国爱丁堡玛格丽特女王大学毕业证成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
Digital Transformation Frameworks: Driving Digital Excellence
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka Indian satta Matka Dpboss Matka Kalyan Chart Matka Boss otg matka Guessing Satta Profiles of Iconic Fashion Personalities.pdf
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Business storytelling: key ingredients to a story
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
DearbornMusic-KatherineJasperFullSailUni
My powerpoint presentation for my Music Retail and Distribution class at Full Sail University
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
Call8328958814 satta matka Kalyan result satta guessing
Satta Matka Kalyan Main Mumbai Fastest Results
Satta Matka ❋ Sattamatka ❋ New Mumbai Ratan Satta Matka ❋ Fast Matka ❋ Milan Market ❋ Kalyan Matka Results ❋ Satta Game ❋ Matka Game ❋ Satta Matka ❋ Kalyan Satta Matka ❋ Mumbai Main ❋ Online Matka Results ❋ Satta Matka Tips ❋ Milan Chart ❋ Satta Matka Boss❋ New Star Day ❋ Satta King ❋ Live Satta Matka Results ❋ Satta Matka Company ❋ Indian Matka ❋ Satta Matka 143❋ Kalyan Night Matka..
Hamster Kombat' Telegram Game Surpasses 100 Million Players—Token Release Sch...
Hamster Kombat' Telegram Game Surpasses 100 Million Players—Token Release Schedule Unveiled
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
9356872877Sattamatka.satta.matka.satta matka.kalyan weekly chart.kalyan chart.kalyan jodi chart.kalyan penal chart.kalyan today.kalyan open.fix satta.fix fix fix Satta matka nambar.Recently uploaded (20)
The Genesis of BriansClub.cm Famous Dark WEb Platform
The Genesis of BriansClub.cm Famous Dark WEb Platform
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Digital Transformation Frameworks: Driving Digital Excellence
Digital Transformation Frameworks: Driving Digital Excellence
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf
Call8328958814 satta matka Kalyan result satta guessing
Call8328958814 satta matka Kalyan result satta guessing
Hamster Kombat' Telegram Game Surpasses 100 Million Players—Token Release Sch...
Hamster Kombat' Telegram Game Surpasses 100 Million Players—Token Release Sch...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
Sarfaesi act
- 1. Sarfaesi Act
- 2. SARFAESI Act The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) empowers Banks / Financial Institutions to recover their non-performing assets without the intervention of the Court. The Act provides three alternative methods for recovery of non-performing assets, namely: - Securitisation Asset Reconstruction Enforcement of Security without the intervention of the Court The provisions of this Act are applicable only for NPA loans with outstanding above Rs. 1.00 lac. NPA loan accounts where the amount is less than 20% of the principal and interest are not eligible to be dealt with under this Act. Non-performing assets should be backed by securities charged to the Bank by way of hypothecation or mortgage or assignment. Security Interest by way of Lien, pledge, hire purchase and lease not liable for attachment under sec.60 of CPC, are not covered under this Act The Act empowers the Bank: To issue demand notice to the defaulting borrower and guarantor, calling upon them to discharge their dues in full within 60 days from the date of the notice. To give notice to any person who has acquired any of the secured assets from the borrower to surrender the same to the Bank. To ask any debtor of the borrower to pay any sum due or becoming due to the borrower. Any Security Interest created over Agricultural Land cannot be proceeded with. If on receipt of demand notice, the borrower makes any representation or raises any objection, Authorised Officer shall consider such representation or objection carefully and if he comes to the conclusion that such representation or objection is not acceptable or tenable, he shall communicate the reasons for non acceptance WITHIN ONE WEEK of receipt of such representation or objection. A borrower / guarantor aggrieved by the action of the Bank can file an appeal with DRT and then with DRAT, but not with any civil court. The borrower / guarantor has to deposit 50% of the dues before an appeal with DRAT. If the borrower fails to comply with the notice, the Bank may take recourse to one or more of the following measures: Take possession of the security Sale or lease or assign the right over the security Manage the same or appoint any person to manage the same