Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act
Banks will now be relieved if the amendments to the Sarfaesi laws is done very soon! Under the proposed amendments in Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Sarfaesi), banks wil now be allowed to seize the defaulter borrower’s property in any case. They can even buy the asset [...] Continue Reading »
Central registry to prevent frauds in loan cases involving multiple lending on the same immovable property. Finance minister Pranab Mukherjee had announced creation of such a registry in Budget 2011-12. RV Verma, CMD of National Housing Bank, has been given additional charge as the central registrar for three months. The government on Thursday operationalised the [...] Continue Reading »
