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Security Enforcement Process under SARFAESI Act, 2002 | Explained in Simple Language

Are you wondering how banks can take possession of a borrower’s property without going to court? 🤔 This video explains the step-by-step process of security enforcement under the SARFAESI Act, 2002, in a way that’s easy to understand for entrepreneurs, borrowers, law students, and professionals alike.

Whether you are a Law student, Advocate, Banking professional, Chartered Accountant, Company Secretary or Cost Management Accountant or borrower, this video provides complete clarity on:

✅ What is Security Enforcement?
✅ How does the SARFAESI Act, 2002 empower banks and financial institutions?
✅ The meaning of Section 13(2), 13(4) and other key provisions
✅ Legal notices, possession and process
✅ Rights of borrowers & safeguards
✅ Real-world implications for loan defaults
✅ What is Security Enforcement process under the SARFAESI Act, 2002?
✅ How bank proceed after 13(2) and 13(4) notice?
✅ How to stop bank from taking possession of the property?
✅ How bank take the possession of the property?
✅ How bank sells the mortgaged property?
✅ What steps bank can take in case of Loan Default?
✅ What are the Powers of banks under the SARFAESI Act, 2002?
✅ How banks recover money under the SARFAESI Act, 2002?

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OTHER RELEVANT VIDEOS ON THE SARFAESI ACT, 2002

Link to watch a video on Introduction of the SARFAESI Act, 2002 which describes the objective, meaning, structure and purpose of the SARFAESI Act, 2002.

   • Introduction of SARFAESI Act, 2002 | Loan ...  

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...  

What is NPA?

   • What Are Non-Performing Assets? #npa #bank...  

Section 13(4) and Section 17 of the SARFAESI ACT, 2002 - Comparison and relationship.

   • Section 13(4) vs. Section 17 of the SARFAE...  

Link to watch a video on How file application with DRT under section 17(1) of the SARFAESI Act, 2002 wherein the provisions for filing application with DRT, format of application and other related details are discussed.

   • DRT Application Under Section 17 of the SA...  

Link to watch video on How DRT Protects Borrowers? wherein Powers of DRT under Section 17 of the SARFAESI Act, 2002 are explained and how it can help the borrowers in case of loan defaults.

   • How DRT Protects Borrowers | POWERS OF DRT...  
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Link to Download the SARFAESI ACT, 2002, The Security Interest (Enforcement) Rules, 2002 and format of application under section 17(1) of the SARFAESI ACT, 2002

https://drive.google.com/drive/folder...

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TIME STAMPS:

00:01 Introduction of process followed by bank in seizing and selling the mortgaged immovable property in case of loan default
01:34 Meaning of Security Enforcement
02:05 Security Enforcement process OVERVIEW and Steps involved
03:28 STEP 1 - CLASSIFICATION of Account as Non Performing Asset
04:17 STEP 2 - Issuance of DEMAND NOTICE u/s 13(2)
05:12 STEP 3 - REPRESENTATION/ OBJECTION by Borrower u/s 13(3A)
06:09 STEP 4 - Taking POSSESSION of Immovable Property u/s 13(4)
07:03 STEP 5 - PUBLICATION of POSSESSION Notice
08:30 STEP 6 - SALE of IMMOVABLE PROPERTY u/r 8 and 9
11:12 STEP 7 - SALE certificate and TRANSFER of TITLE
12:19 Key Legal provisions related to Security Enforcement Process

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