Rights of Borrowers under SARFAESI Act 2002 | Complete Legal Guide
Are you facing loan recovery action under the SARFAESI Act, 2002? Do you know your legal rights as a borrower? Lack of awareness of the Borrowers of their rights under the SARFAESI Act, 2002 may lead to loss of property and other actions by the the Secured creditors including banks and financial institutions.
In this detailed video, we explain:
✅ What is the SARFAESI Act, 2002?
✅ How banks and financial institutions recover loans under SARFAESI
✅ Borrower’s rights and protections against wrongful recovery
✅ Legal remedies available to loan defaulters in India
✅ 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?
✅ 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?
💡 This video is a must-watch for borrowers, guarantors, entrepreneurs, and legal professionals, adcocates, CA/CS/CMA and law Students who want to understand the rights and protections under Indian banking laws.
📍 Why this matters:
Many borrowers lose property due to lack of awareness. Knowing your rights under SARFAESI can help you take the right legal action and negotiate effectively with banks.
🔔 Don’t forget to Like, Share & Subscribe to the channel “Legal Intelligence” for more such informative videos on company law, debt recovery laws, SARFAESI Act, 2002, contracts, corporate laws, civil and criminal laws, and business compliance.
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...
Link to watch video on How Banks Seize Property Under the SARFAESI Act | Security Enforcement Process under the SARFAESI Act, 2002.
• How Banks Seize Property Under the SARFAES...
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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...
📢 Have more questions? Drop them in the comments! 👇
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TIME STAMPS:
00:55 Introduction of Rights of Borrowers under the SARFAESI Act, 2002
01:21 Overview of Borrowers' Rights
05:48 Right to Notice u/s 13(2)
06:40 Right to Representation u/s 13(3A)
08:15 Right to Challenge Action before DRT u/s 17
09:32 Right to Compensation u/s 19
10:13 Right of Redemption of Property u/s 13(8)
11:31 Right to Proper Valuation and Sale Process
12:44 Right to file Appeal to DRAT u/s 18
14:02 Right against Arbitrary action
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