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
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