• Mr. Chandra Mohan Bairwa
• Dr. Kshipra Gupta

“ SARFAESI Act was based on recommendations of a) Committee on Banking Sector reforms (Narasimham Committee Report II) and b) Restructuring of Weak Public sector Banks (Verma Committee). The Government passed the SARFAESI Act on 21 June 2002 in order to give teeth to the banks to proceed against the “willful defaulter”, and affect recoveries without the intervention of courts and tribunals. This Act aims at speedy recovery of defaulting loans and to reduce the mounting levels of Non-performing Assets of banks and financial institutions. The provisions of the Act enable the banks and financial institutions to realize long-term assets, manage problems of liquidity and asset liability disparities and to improve recovery by exercising powers to take possession of securities, sell them and reduce non-performing assets by adopting measures for recovery or reconstruction. The Act provides three alternative methods for recovery of NPAs, viz; Securitization, Asset Reconstruction, Enforcement of Security without intervention of the court.”

LEGISLATION FOR SECURITIZATION AND EMPOWERING BANKS AND FINANCIAL INSTITUTIONS TO GAIN POSSESSION OF THE SECURITIES AND TO SELL THEM WITHOUT ANY INTERVENTION OF THE COURT.

"LEGISLATION FOR SECURITIZATION AND EMPOWERING BANKS AND FINANCIAL INSTITUTIONS TO GAIN POSSESSION OF THE SECURITIES AND TO SELL THEM WITHOUT ANY INTERVENTION OF THE COURT.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 5, page no.1228-1235, May-2019, Available :http://www.jetir.org/papers/JETIR1905S84.pdf

"LEGISLATION FOR SECURITIZATION AND EMPOWERING BANKS AND FINANCIAL INSTITUTIONS TO GAIN POSSESSION OF THE SECURITIES AND TO SELL THEM WITHOUT ANY INTERVENTION OF THE COURT.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 5, page no. pp1228-1235, May-2019, Available at : http://www.jetir.org/papers/JETIR1905S84.pdf