SARFAESI News

Non-Performing Assets: Money Down the Drain

Non-Performing Assets: Money Down the Drain

If the bankers had been a bit more socially responsible and not indiscriminately used the SARFAESI Act, India could have perhaps avoided the tragedy of farmers committing suicide due to losing their land and feeling humiliated. Its full force is felt ...

RBI Deputy Governor on inflation: 'Inflation prediction tough when markets not stable'

RBI Deputy Governor on inflation: 'Inflation prediction tough when markets not stable'

Reserve Bank of India Deputy Governor Viral Acharya on Thursday said forecasting inflation was relatively easier when markets are stable over a period of time. ... “Once the Sarfaesi Act was implemented, banks did actually use the Sarfaesi to fix the ...and more »

Want a good deal on flat or shop? Participate in SBI's mega e-auction of property today

Want a good deal on flat or shop? Participate in SBI's mega e-auction of property today

For, the much-awaited SBI mega e-auction is here! The State Bank of India – India's largest bank – has announced the sale of properties through a mega e-auction, which is going to be held across the country tomorrow. You can visit http://sbi ...

SBI Announces Mega Auction Of Properties

SBI Announces Mega Auction Of Properties

State Bank of India (SBI) has announced a sale of properties through a mega e-auction on June 23, 2017. This was said by the country's largest bank on microblogging site Twitter. The bank will auction off 150 properties, including residential ...and more »

Vijaya Bank ED Rama Rao gets Skoch award

Vijaya Bank ED Rama Rao gets Skoch award

SARFAESI (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) accounts were taken up for a logical end till the properties were auctioned. As part of this, the bank introduced several attractive schemes of ...and more »

PTC India Fin uses Sarfaesi law to recover dues from 2 projects

PTC India Fin uses Sarfaesi law to recover dues from 2 projects

"SARFAESI is a good tool. But it has to have enabling administrative system to expeditiously take over the assets and dispose them off", Haldia said adding that PFS may also take similar action if promoters of stressed projects are not found to be ...and more »

Kingfisher House auction fails for 5th time

Kingfisher House auction fails for 5th time

The 17-lender consortium led by State Bank of India had lowered the reserve price of the property by 10 per cent to Rs 93.50 crore from Rs 103.50 crore in the previous auction held in March. Before that, in December auction, the reserve price was set ...

Full Text of Supreme Court Judgement on SARFAESI ACT

Full Text of Supreme Court Judgement on SARFAESI ACT

1. The Constitution of India is a mosaic drawn from the experience of nations worldwide. The federal structure of this Constitution is largely reflected in Part XI which is largely drawn from the Government of India Act, 1935. The State of Jammu ...

HC stays recovery proceedings against real estate developer

HC stays recovery proceedings against real estate developer

"The sarfaesi (recovery) proceedings shall remain stayed for the duration of the arbitration proceeding," it said. The court said the director of M/S Proto Developers and Technologies Ltd, the real estate developer, will pay a sum of Rs 50 lakh in ...and more »

Bombay High Court to take over assets of Orbit Corporation

Bombay High Court to take over assets of Orbit Corporation

Five years after Orbit Corporation, defaulted on sanctioned loans of Rs. 140 crore, a metropolitan magistrate has appointed a court commissioner to take possession of its plush Lower Parel project. This will include all the residential and or ...and more »