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Sarfaesi Act, 2002
What does SARFAESI stand for?
SARFAESI stands for Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Under SARFAESI Act, which section empowers secured creditors to issue a notice to borrowers?
Section 13(2) empowers secured creditors to issue demand notice.
What is the primary objective of the SARFAESI Act, 2002?
The primary objective is to enable banks and financial institutions to recover non-performing assets (NPAs) without court intervention by enforcing security interests.
What is the full form of DRT as used under the SARFAESI Act?
Debt Recovery Tribunal.
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