Pioneer in SARFAESI
Enforcement & Recovery

Empowers banks and financial institutions to enforce security interest without court intervention for recovery of NPAs. The primary statute under which FINNRECO operates.

• Sec. 13(2) — Demand Notice to Borrower
• Sec. 13(4) — Taking Possession of Secured Asset
• Sec. 14 — District Magistrate / CMM Assistance
• Sec. 17 — Borrower's Right to Appeal before DRT
• Sec. 13(8) — Tender of Dues before Sale
• Sec. 26E — Priority of Secured Creditors

Prescribes detailed procedure, timelines, and formats for Authorised Officers and Enforcement Agents under the SARFAESI Act.

• Rule 3 — Notice of Demand (Form I)
• Rule 4 — Taking Possession (Form II / III)
• Rule 6 — Sale by Public Auction / Tender / Private Treaty
• Rule 8 — Sale Notice (Form VI / VIII / IX)
• Rule 9 — Sale Certificate (Form X)
• Rule 11 — Application to DM / CMM u/s 14

Establishes Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) for expeditious adjudication and recovery of bank debts.

• Sec. 17 — Jurisdiction of DRT (OA Filing)
• Sec. 18 — Bar of Jurisdiction of Civil Courts
• Sec. 19 — Application for Recovery (OA)
• Sec. 20 — Appeal to DRAT (SA / Appeal)
• Sec. 22 — Procedure of Tribunal
• Sec. 25 — Recovery Officer — Certificate of Recovery

Consolidates laws on insolvency and bankruptcy of companies, partnerships, and individuals. Time-bound resolution before NCLT and NCLAT.

• Sec. 7 — CIRP by Financial Creditor before NCLT
• Sec. 9 — CIRP by Operational Creditor
• Sec. 14 — Moratorium on all proceedings
• Sec. 30/31 — Resolution Plan approval by NCLT
• Sec. 33 — Liquidation Order
• Sec. 61 — Appeal to NCLAT