Everything to Know About SARFAESI Act, 2002

21/12/2018 Financial & Legal Services

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The SARFAESI Act allows banks and other financial institutions to auction residential or commercial properties for the purpose of recovering loan. It allows the banks to auction properties of the borrowers when they fail to repay their loan amount. Thus, the SARFAESI Act, 2002 enables the bank to reduce their non-performing assets by way of measures of recovery and reconstruction.

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