The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, allows banks and Financial institutions to take possession and auction of the secured assets/ properties (residential and commercial) when borrowers fail to repay their loans. It enables bank to reduce its non-performing assets (NPAs) by adopting measures for recovery or asset reconstruction. The SARFAESI Act provides guidelines / rules for enforcement of security interests by a secured creditor without the intervention of a court or tribunal.
Our SAFE division offers consultancy and legal support services to Banks and Financial institutions for successful resolution of Non performing Accounts (NPA)PAN India.
In the last two Financial years, the division has handled 625 assignments For Banks / Financial Institutions / Assets Reconstruction Companies and Co-operative Banks.