Section 13(4) vs. Section 17 of the SARFAESI Act | Loan Recovery vs. Borrower’s Rights

Описание: The SARFAESI Act, 2002 empowers banks and financial institutions to recover non-performing assets (NPAs) without court intervention. But what happens when borrowers want to challenge these actions? This video explains the key differences and correlation between Section 13(4) and Section 17 of the SARFAESI Act, 2002 and how they impact both banks and borrowers.

Links of other relevant sections of the SARFAESI Act, 2002. Watch them to fully understand the concept.

Link to watch Part 1 video wherein section 13(1), (2), (3) and 3(A) are explained which deal with the default by the borrower and notice issued to enforce security interest if the liability is not discharges within 60 days.

   • Section 13 of SARFAESI Act, 2002 Made Easy...  

Link to watch Part 2 video wherein section 13(4) and 13(5) are explained which are related with measures to be taken by the bank in case the default of loan continues:

   • SARFAESI Act 13(4) EXPLAINED! | What Happe...  

Link to watch Part 3 video wherein section S. 13 (5A), (5B) & 5 (C) are explained which are related with sale of immovable properties by the banks possession whereof taken under section 13(4) for enforcement of the security interest. Also, section 9 of the Banking Regulation Act, 1949 is explained in this video.

   • Section 13 of the SARFAESI Act, 2002 Made ...  

Case Summary of Landmark judgement on the SARFAESI ACT, 2002 i.e. Mardia Chemicals Ltd. V. Union of India

   • Mardia Chemicals Ltd. v. Union of India (2...  


Key Takeaways from the Video:
✅ What is Section 13(4) of SARFAESI Act?
✅ How banks seize and sell assets under Section 13(4)
✅ What is Section 17 of SARFAESI Act?
✅ How borrowers can challenge bank actions in DRT
✅ Can you stop a bank auction using Section 17?
✅ Legal remedies for borrowers under SARFAESI Act
✅ Details of case Indian Overseas Bank V. Ashok Saw Mill (2009) 8 SCC 366

🔍 Who is this video for?
This video is perfect for law students, professionals preparing for exams, or anyone interested in understanding the SARFAESI Act’s loan recovery mechanism.

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FOLLOWING QUERIES ARE ADDRESSED IN THIS VIDEO (Section 13(4) vs. Section 17 of the SARFAESI Act, 2002):

1. What is Section 13(4) of the SARFAESI Act?
2. What powers do banks have under Section 13(4)?
3. What is Section 17 of the SARFAESI Act?
4. Can borrowers challenge bank action under Section 13(4)?
5. How does Section 17 help borrowers against SARFAESI proceedings?
6. What is the Debt Recovery Tribunal (DRT) process under Section 17?
7. Can a borrower stop a property auction under SARFAESI?
8. What is the legal time limit to file an appeal under Section 17?
9. What happens if a borrower fails to challenge bank action under Section 17?
10. What steps should a borrower take after receiving a notice under Section 13(4)?
11. What is the relation between section 13(4) and section 17 of the SARFAESI Act, 2002?
12. What are the possible defenses for borrowers under SARFAESI Act?
13. How does SARFAESI Act impact home loan defaulters?
14. Can a borrower approach the High Court or Supreme Court against SARFAESI action?
15. What legal documents are required to challenge SARFAESI proceedings?
16. Can a bank take possession of assets without court approval under Section 13(4)?
17. What are the borrower’s rights when a bank takes over secured assets
18. How to negotiate with the bank to avoid SARFAESI action?
19. What are the details of the case Indian Overseas Bank V. Ashok Saw Mill (2009) 8 SCC 366

TIME STAMPS:

00:05 Introduction of correlation between section 13(4) and section 17 of the the SARFAESI Act, 2002
00:29 correlation between section 13(4) and section 17 of the the SARFAESI Act, 2002
02:21 Details of case Indian Overseas Bank V. Ashok Saw Mill (2009) 8 SCC 366
04:36 Discussion on invoking writ jurisdiction after measures have been taken by the secured creditor under section 13(4) of the SARFAESI Act, 2002


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