Impediments in Recovery of Non-performing Assets

Recently, there have been some judicial pronouncements by the apex court determining the scope of powers of enforcement of securities without the intervention of the courts, by the banks and FIs under the SARFAESI Act. The apex court has reiterated the need to protect the interest of borrowers, and emphasized that the exercise of extraordinary powers of recovery , by banks and FIs must be in compliance with the provisions of the SARFAESI Act.............

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