Definition
Under SARFAESI, a person or entity that has obtained credit facilities from a secured creditor and against whom a security interest has been created. Includes guarantors in respect of the secured debt.
Need Expert Advice on Borrower?
For specific advice on how Borrower applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 25+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates