Context
Banks have invoked the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act against telecom infrastructure provider GTL to recover their pending dues.
About
SARFAESI Act:
Elements of the SARFAESI Act:
The SARFAESI Act is applied to the entire country of India. The SARFAESI Act, 2002 provisions are in effect for modifying the four laws listed below:
Aim of the SARFAESI Act:
The SARFAESI Act has two main objectives:
Need for the SARFAESI Act
What powers do banks have under the law?
Verifying, please be patient.