Chapter-Heads I-5
List of Circulars/Notifications I-23
BOOK ONE
SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002
DIVISION ONE GUIDE TO SARFAESI ACT, 2002 1
OVERVIEW OF SARFAESI ACT
2
ENFORCEMENT OF SECURITY INTEREST
I-11
2.2
2.6-5
PROCEDURE FOR SALE OF ASSETS
I-13
3.3-2
3.3-3
1.75 3.6-1 1.75 3.6-2 1.76 3.6-3 1.76 3.6-4 1.77
APPLICATION, APPEALS AND PENALTY UNDER SARFAESI ACT
4.2-2
4.3 1.83 4.3-1 1.83 4.3-2 1.85 4.3-3 1.85
5.7-4 1.100 I-14
SECURITISATION
I-15
ASSET RECONSTRUCTION COMPANIES
7
REGISTRATION OF TRANSACTIONS UNDER SARFAESI ACT
DIVISION TWO
SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002
DIVISION THREE RULES
DIVISION FOUR
CIRCULARS/DIRECTIONS/NOTIFICATIONS/ORDERS
DIVISION FIVE
CASE LAWS DIGEST UNDER SARFAESI ACT, 2002 5.3
BOOK TWO
RECOVERY OF DEBTS AND BANKRUPTCY ACT, 1993
DIVISION SIX
GUIDE TO RECOVERY OF DEBTS AND BANKRUPTCY ACT, 1993 1
BACKGROUND OF RDB ACT
2
ORIGINAL APPLICATION (OA) TO DRT FOR RECOVERY OF DEBTS
DEBT RECOVERY TRIBUNAL 3.1 6.22 3.2 6.24 3.2-1 6.24 3.3 6.26 I-18
3
3.3-1
4
APPEAL AGAINST ORDER OF DRT BEFORE DRAT
5
RECOVERY AFTER ORDER
POWERS AND LIMITATIONS OF TRIBUNAL
8
RBI DIRECTIONS ON RESOLUTION OF STRESSED ASSETS
DIVISION SEVEN
RECOVERY OF DEBTS AND BANKRUPTCY ACT, 1993
DIVISION EIGHT RULES
DIVISION NINE NOTIFICATIONS
DIVISION TEN
CASE LAWS DIGEST UNDER RECOVERY OF DEBTS AND BANKRUPTCY ACT, 1993
Enforcement of Security Interest
2.1 Bank can recover loans by enforcing security interest
2.1-1 When security can be enforced
No action in certain specified cases
SARFAESI provisions not applicable to security interest in agricultural land
Narendra State of Madhya Pradesh
Sundaram Home Finance Rahul Jayvantrao Kaulavkar
K. Sreedhar
Raus Constructions (P.) Ltd.
No action if debt time barred
Debenture trustees can initiate action for enforcement of security if there is default proviso
2.1-2 Meaning of ‘debt’ ha includes .
2.1-3 Financial lease ma
Negotiable document –na
2.2 Meaning of ‘security interest’
2.2-1 Meaning of ‘property’
, as may be prescribed by Central Government in consultation with RBI t
2.2-2 Hypothecation
Infrastructure Leasing and Financial Services Ltd BPL Ltd.
2.2-3 Exclusions from ‘security interest’
b c d e
g h i j
Residential property mortgaged can be attached Joseph George Joint Registrar g
Lien under Contract Act
Pledge of movables
Right of unpaid seller
Lease
Hire purchase owner hirer
Marikar Motors Ltd. STO
Damodar Valley Corpn. State of Bihar
Exclusion of pledge etc. for all purposes ? i.e.
any beneficial right, title or interest in any tangible asset given on hire or financial lease or conditional sale or under any other contract which secures the obligation to pay any unpaid portion of the purchase price of such asset or an obligation incurred or
credit otherwise provided to enable the borrower to acquire such tangible asset; or ( ) any right, title or interest on any intangible asset or licence or assignment of such intangible asset, which secures the obligation to pay any unpaid portion of the purchase price of such intangible asset or an obligation incurred or credit otherwise extended to enable the borrower to acquire such intangible asset or obtain licence of the intangible asset; or vi
2.2-5 Financial Assistance - Meaning including funds provided for the purpose of acquisition of any tangible asset on hire or financial lease or conditional sale or under any other contract or obtaining assignment or licence of any intangible asset or purchase of debt securities
2.3 Who is ‘secured creditor’
Asset Reconstruction company -
2.3-1 Meaning of ‘bank’
SARFAESI Act applies to cooperative banks and regional rural banks vide vide Cooperative Banks eligible as secured creditor
Pandurang Ganpati Chaugule Vishwasrao Patil Murgud Sahakari Bank
2.3-2 Financial Institution
* Debenture trustee registered with SEBI and appointed for secured debt securities * Asset Reconstruction Company whether acting as such or managing a trust for purpose of securitization or asset reconstruction
Secured debt
2.3-3 Public Financial Institution
SFC can take action under the SARFAESI Act
Golden Wvg. Mills Tamil Nadu Industrial Investment Corpn. Ltd.
2.4 When an action for enforcement of security can be initiated
and
2.4-1 Who is ‘Borrower’ or a pooled investment vehicle as defined in section 2(da) of SCRA which or a pooled investment vehicle which f vide
2.4-2 Security agreement
2.4-3 Meaning of ‘Default’
2.4-4 Secured debt
2.4-5 Foreclosure of loan
2.4-6 Meaning of Non-Performing Asset
