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SARFAESI Act

86 acres bought by Polyhose near Chennai

86 acres bought by Polyhose near Chennai
The country’s largest manufacturer of hydraulic, industrial and automotive hoses, Polyhose India has gained 86 acre land parcel which earlier belonged to Presidency Kids Leather, nearby Chennai. Under the SARFAESI Act the land was acquired through an auction conducted by Syndicate Bank. The deal size is said to be close to Rs 100 crore, including [...] Continue Reading »

RBI disagree with the plan to give Sarfaesi powers to HFCs

RBI disagree with the plan to give Sarfaesi powers to HFCs
The Reserve Bank of India (RBI) disagrees with finance ministry’s plan to give Sarfaesi Act-powers automatically to all housing finance companies (HFCs) registered with the National Housing Bank (NHB). An official says that the ‘stringent’ Sarfaesi powers should not be given to institutions without proper due diligence of their management, track-record, borrower profile and default [...] Continue Reading »

Indian Bank puts Gautham Menon’s property on the block

Indian Bank puts Gautham Menon’s property on the block
A property belonging to film producer and director Gautham Vasudev Menon in Adyar is at auction by The Kotturpuram branch of Indian Bank which is also inviting tenders for it. The auction process for the property located on First Main Road in Indira Nagar, has begun with the tender value being quoted at 12.26 crore, [...] Continue Reading »

CIBIL and CERSAI to join hands to help lenders with credit worthiness of realty

CIBIL and CERSAI to join hands to help lenders with credit worthiness of realty
Kolkata- Credit Information Bureau (India) Ltd (CIBIL) and the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) are together planning to offer a single window facility to check credit worthiness and legal status of property to lenders. The two organizations have planned to sign an agreement on 10th December. Once the [...] Continue Reading »



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