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SARFESI ACT
Bank auctioned pledged land after borrower defaulted but buyer took 2 years to pay 75% money; borrower cleared the dues, fought and won the case in SC to get his land backThe Supreme Court agreed with the Madras High Court's call to cancel the auction of Mr. Rama's family property. The bank was trying to sell...- LIC Housing Finance takes possession of property whose guarantor was Essel Group's Subhash ChandraLIC Housing Finance took symbolical possession of a property in Churchgate, Mumbai, for which Essel Group Chairman Subhash Chandra acted as...
- What to do if you have defaulted on a home loanIn case the bank decides to name the borrowers as defaulters, it will then send a full and final 60 days’ notice under a law called SARFESI...
- Yes Bank takes possession of Anil Dhirubhai Ambani Group's headquarters in MumbaiIn a public notice, Yes Bank said it has issued notice to Reliance Infrastructure under the SARFAESI Act to recover its dues and after the ...
- ‘Gujarat High Court views could delay Insolvency Code resolutions’While the court has validated the IBC, its observation that the NCLT may proceed in accordance with law but without undue pressure 'may giv...
- India pitches for rating upgrade with FitchFinance ministry officials also highlighted reform initiatives, which include bankruptcy code, creation of interest rate setting monetary p...
- India pitches for ratings upgrade with FitchFitch Ratings had in December affirmed India's 'BBB-' rating with a stable outlook, and has forecast 8 per cent growth for 2016-17.
- SBI says bankruptcy code can't solve all problems for banksSBI raised questions over the bankruptcy code being readied by the government, citing past experiences, while stressing on the need for a c...
- LIC Housing Finance puts Orbit Corp’s Andheri project on block to recover duesLIC Housing Finance had taken possession of the property following the developer defaulting on loans worth 96 crore out of total dues of Rs...
- Sale of KS Oils' edible oil business assets failsK S Oils today said the auction process for sale of its edible oil business assets, initiated by SBI and other lenders of the company.
- Banks get RBI, government support on need to check overt vigilance"The bona fide mistakes made by the bankers while taking commercial decisions should be protected by the Government," RBI Governor Raghuram...
- Rising NPAs: How to reform borrowers who are not co-operativeThe fear of SARFESI Act with the right to take possession was no doubt able to bring some degree of fear in the minds of borrowers.
- Upcoming elections holding back businesses: Fred Hochberg, US Exim Bank headThe US Exim Bank head Fred Hochberg today said there is more clarity in policymaking now in India but businesses are still adopting a "wait...
- Jammu and Kashmir to enact SARFAESI legislationThe act is not presently in force in Jammu and Kashmir due to the special status of the state under Article 370 of the constitution.
- India to be No 1 market for US Exim Bank this yearThe US Exim Bank today said India will overtake Mexico to emerge as the biggest market by its fund commitments this year.
- Tata Capital says new norms to eat into bottom lines of NBFCsTata Capital expresses reservations over RBI's proposed changes in the norms of NBFCs, as it will impact profits and raise lending rates.
- Kotak Mahindra Bank takes symbolic possession of Deccan Chronicle's printing assetsKotak Mahindra Bank, one of its lenders, has taken 'symbolic possession' of the publishing house's printing press assets located in Kondapu...
- Retail done, next, Banking Regulation Amendment and Sarfesi Amendment BillBoth the Banking Regulation Amendment Bill and Sarfesi Amendment Bill are likely to be brought for consideration and passage on Monday,” P ...
- NBFCs urge govt to ensure level-playing field with banksAccusing the Finance Ministry of adopting a discriminating policy, Punjab and Haryana Finance Companies' Association on Satarday demanded a...
- Banks want registry to check asset strippingBankers the world over often worry about not just interest rate movements, but also stripping of assets, among other things, by unscrupulou...
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