SARFAESI News

Payback time?

Payback time?

Prior to the IBC, insolvency had been governed by the Companies Act, 1956/2013, the Sick Industrial Companies Act, 1985 (SICA), the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), and the ...and more »

Government reforms are music to our ears: KKR's Sanjay Nayar

Government reforms are music to our ears: KKR's Sanjay Nayar

Mumbai: Sanjay Nayar, chief executive officer of private equity giant KKR's India arm, in an interview talks about the macroeconomic situation, the bankruptcy and insolvency code, and the challenges and opportunities it presents, as well as KKR's focus ...

RBI: New ARCs must have minimum net owned fund of Rs 100 crore

RBI: New ARCs must have minimum net owned fund of Rs 100 crore

Under amended SARFAESI Act, 2016, no ARC are allowed to commence or carry on the business of securitisation or asset reconstruction without having NOF of not less than Rs 2 crore. Similarly, the ARCs have to maintain a capital adequacy ratio of 15% of ...

View: Why Modi govt's track record is better than UPA's

View: Why Modi govt's track record is better than UPA's

The government has promoted schemes like Skill India and Micro Units Development and Refinance Agency (MUDRA). Their impact is yet to be seen. Expenditure on social schemes is seen to be another problem point of this government. The aim of the ...

Telangana govt looks to cure sick MSMEs in a big way

Telangana govt looks to cure sick MSMEs in a big way

Majority of micro, small and medium enterprises (MSMEs) are facing problems from banks owing to Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). Sarfaesi notices have become a ...

Roadblocks frustrating mandate of ARCs

Roadblocks frustrating mandate of ARCs

The SARFAESI or the Securitisation and Reconsturction of Financial Assets and Enforcement of Security Interest Act, passed by Parliament in 2002, provides for the establishment for ARCs. As of this day, around 19 ARCs operate in India that can purchase ...

Jammu & Kashmir: A settled issue

Jammu & Kashmir: A settled issue

The Jammu & Kashmir High Court had ruled that the SARFAESI Act could not be made applicable to the State as it was a Central law and that Jammu & Kashmir State was sovereign. The Supreme Court verdict was unambiguous: Indian Constitution is ...and more »

Pledged personal properties turn sour grapes for banks after NCLT order

Pledged personal properties turn sour grapes for banks after NCLT order

Sameer Kakar, an insolvency professional registered with the Insolvency and Bankruptcy Board of India and partner of News Insolvency Professionals LLP, said, "Under this judgement, the bankers will refrain from selling personal assets of the guarantor ...and more »

India: Moratorium Applicable Only To Properties Owned By The Corporate Debtor And Not Of A Personal Guarantor

India: Moratorium Applicable Only To Properties Owned By The Corporate Debtor And Not Of A Personal Guarantor

Before I part with it is necessary to clarify my humble view that the SARFAESI Act may come within the ambits of Moratorium if an action is to foreclose or to recover or to create any interest in respect of the property belonged to or owned by a ...

Hyderabad High Court fines Rs 25000 to export firm

Hyderabad High Court fines Rs 25000 to export firm

The companies had filed the plea against Bank of India for taking recourse to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, to execute the recovery certificate issued by the DRT ...