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Lok Adalat Loan Recovery: Everything You Need to Know
Most guides cover how to get to a Lok Adalat settlement. This one covers what happens after you sign: your award becomes a court decree immediately, and defaulting on it triggers direct execution, not a fresh negotiation.
SARFAESI vs IBC: What's the Difference? (Part 1)
SARFAESI enables a secured creditor to enforce its security interest without first filing a civil suit, while the IBC creates a collective insolvency process for resolving a corporate debtor's financial distress. Here's what genuinely separates them, and why a bank sometimes has to choose one over the other.
Central Registry Under SARFAESI, Explained: What It Means for Borrowers
There's a public search tool most people don't know exists, and it catches mortgages a standard property document check never will. Here's how to actually use CERSAI's registry yourself, and why relying on an Encumbrance Certificate alone leaves a real gap.
Symbolic Possession Under SARFAESI: Explained: What It Means for Borrowers
Symbolic possession under SARFAESI is a legal, paper-only step, the bank affixes a notice on your property and publishes it, asserting legal control over the asset. It does not mean you've been evicted or that anyone is coming to remove you that day. Physical removal, if it happens at all, is a separate, later step under a different provision entirely.
Section 17 of the SARFAESI Act: Meaning, Process and What It Means for You (Part 1)
Section 17 of the SARFAESI Act is the provision that lets a person aggrieved by a secured creditor's measures under Section 13(4), taking possession, selling an asset, or appointing a manager, challenge that action before the Debt Recovery Tribunal by filing a Securitisation Application (SA). It's the actual mechanism behind everything referred to elsewhere as "your Section 17 remedy," and it comes with a 45-day filing window that courts have treated very strictly, though whether it can ever be extended is still genuinely being argued in courts today.
Sale Certificate Under SARFAESI: What It Means for Borrowers
A sale certificate under SARFAESI is the document a bank issues to confirm the sale of a secured property once the auction is complete and the winning bidder has paid in full. For the borrower, this generally marks the final, formal transfer of ownership away from them.
क्या सरफेसी एक्ट प्लॉट पर लागू हो सकता है?
क्या सरफेसी एक्ट प्लॉट पर लागू हो सकता है? यह इस बात पर निर्भर करता है कि जमीन किस तरह की है। अगर प्लॉट खेती वाली जमीन नहीं है और लोन के लिए गिरवी रखा गया है, तो आमतौर पर सरफेसी एक्ट लागू होता है। लेकिन खेती की जमीन को इस कानून से साफ तौर पर बाहर रखा गया है, और यह तय करना जितना आसान लगता है, उतना है नहीं।
Can You Reschedule a Loan After a SARFAESI Auction Date?
Can you reschedule a loan after a SARFAESI auction date is fixed? Your options narrow significantly at this stage, but the law still gives you a window to pay off dues in full and stop the process, and that window closes earlier than most people assume, at the publication of the auction notice, not the sale date itself.
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