Definition
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Allows secured creditors (banks, NBFCs, HFCs) to enforce security interests — take possession of and sell secured assets — without approaching a court, upon a borrower's default and NPA classification. The most powerful extrajudicial recovery tool in India.
Need Expert Advice on SARFAESI?
For specific advice on how SARFAESI 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