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SARFAESI ACT 2002 | Section 13 | Enforcement of Security Interest | Joint Financing | DRT | Part 7

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Corporate and Allied Laws: CA; SARFAESI ACT 2002 (Part 7) | Section 13 | Enforcement of Security Interest | Joint Financing | DRT; It is the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 : - Basic Meaning Section - 13 Enforcement of Security Interest ( It Already ask also in CA Final Nov 2011 . - No Intervention of any court - If borrower defaults, Account ,not performing - If Borrower Defaults the period of 60 days - Subsequent transfer would be valid . - Expenses would be recovered from the borrower - In case of joint Financing - Appeal to DRT for unsatisfied dues - Right against guarantor Video by Edupedia World (www.edupediaworld.com), Free Online Education; Download our app from play store: Download our App : https://goo.gl/1b6LBg Click here https://www.youtube.com/playlist?list=PLJumA3phskPH5YoBcfqxge34jimmM72XO for more videos on Corporate and Allied Laws- CA; All Rights Reserved.
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Text Comments (11)
rashmi yadav (6 months ago)
In my case bank has misused sarfaesi act for a remaining balance Rs 133000/_while my house has collapsed partially due to my source of income has stopped. however a legal case is already in the court for damages against my neighbor but bank did not consider all this. Interestingly my house insurance was arranged by the same bank but refused to settle my claim. Now my question how it is possible to impose a sarcfaesi act. for small amount while another court case is already going on. Now i do not know these banks are not touching big borrowers but forcing small people to pay
hema singh (3 months ago)
rashmi yadav i am already of victim of sarfaesi act i dont know wat i do
Anuveeta Datta Chowdhury (7 months ago)
Very good and clear lecture
Edupedia World (7 months ago)
Thank You and Stay Tuned!
DivyaG (1 year ago)
how does secured creditor means bank ?
Jyoti Yadav (1 year ago)
As you mentioned in previous lecture that in this process once the asset is transferred to the SR co. by the bank, the rights now on the obligor lies with the SR CO., so as per this lecture, who are you referring to as secured creditor? because you have been using "bank" repeatedly for secured creditor.... kindly clarify.... Thanks in advance...
I am very much obliged to you sir for your generous efforts for this education......
Nikita Agarwalla (2 years ago)
your kind help will b appreciated
Nikita Agarwalla (2 years ago)
very nice explanation sir I have a query sir if u can solve: is the time period for communication of reasons for not accepting representation/ objection under Sec 13(3) 7 days or 15 days?? in my institute mat it's written 15 days while in your lecture it's 7 days??
Nikita Agarwalla (2 years ago)
+Abhinay Gupta thank u so much sir.. :)
Abhinay Gupta (2 years ago)
+Nikita Agarwalla The correct section is Sec 13(3A).. and the time period is 15 days.

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