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SARFASI ACT 2002
What does SARFAESI stand for?
SARFAESI stands for Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Under which section of SARFAESI Act can a secured creditor issue a demand notice to the borrower?
Section 13(2) of the SARFAESI Act.
What is the primary objective of the SARFAESI Act, 2002?
The primary objective is to enable banks and financial institutions to recover NPAs (Non-Performing Assets) by enforcing security interests without court intervention.
What is the minimum net owned fund required for registration as an ARC under SARFAESI?
Minimum net owned fund of Rs. 100 crore.
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