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SARFAESI Act Lawyer in Delhi
Expert legal assistance for bank recovery and borrower rights under SARFAESI Act
SARFAESI Act Legal Services
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
The SARFAESI Act allows banks and financial institutions to enforce security interests without court intervention for NPAs. Our lawyers represent both banks and borrowers in SARFAESI proceedings including Section 13 notices, Section 17 appeals before DRT, and property auctions.
Key Sections of SARFAESI Act
Section 13
Enforcement of security interest
Section 13(2)
Demand notice to borrower
Section 13(4)
Measures for enforcement
Section 14
Chief Metropolitan Magistrate assistance
Section 17
Appeal to DRT
Section 18
Appeal to DRAT
SARFAESI Process
NPA Declaration
Account classified NPA
Demand Notice
Section 13(2) notice
Possession Notice
Section 13(4) notice
Take Possession
Physical/constructive possession
Property Auction
Sale of secured asset
Deficit Recovery
Balance from borrower
Borrower Rights Under SARFAESI
Important Timelines
Documents Required
Frequently Asked Questions
What is SARFAESI Act?
Allows banks to enforce security interest without court intervention for NPAs.
When can bank take action under SARFAESI?
When loan is classified as NPA for more than 60 days.
What is Section 17 of SARFAESI?
Remedy for borrower to challenge bank's action before DRT within 45 days.
Can borrower stay auction proceedings?
Yes, by filing Section 17 application and obtaining stay from DRT.
What is one-time settlement (OTS)?
Settlement with bank for reduced amount to close the loan.
What are legal fees for SARFAESI matters?
Based on claim amount. Free consultation available.
Facing SARFAESI Action?
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