.............................................................................................................................
Description
An in-depth analysis of various types of recovery mechanisms to be adopted by
the Banks/FIs with a practical approach to recovery methods.
• The complete process of initiating action under the Securitisation Act to restrain
the borrower from transfer/lease/sale of secured assets, including issuance of
notices to the debtors of the borrower.
• Action to be taken for enforcement of the security interest in respect of
immovable property which was originally agricultural property but converted
into non-agricultural one at the time of taking action under the Act.
• Salient features under the English Mortgage vis-a-vis Securitisation Act.
• The role and responsibility of the Authorised Officer (AO), and precautions to be
taken while exercising the powers conferred on the AO under the Act, along with
the relevant check list.
• Practical Tips for taking possession of the movable and immovable assets
and sale procedure thereof.
• Means and methods to get the reference under BIFR abated under the Act and
system of CDR Mechanism.
• Powers of State Government under the Bombay Relief Undertaking Act, 1958.
• Procedure to be adopted for taking action under the Securitisation Act
in the suit filed cases.
• Procedure and system of acquisition of assets by Assets Reconstruction
Companies (ARCs).
• Mechanism of Central Registry.
• Readymade formats that are to be used while taking action under the
Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 and other recovery mechanisms, etc.
• Powers of Recovery Officers under DRT Act and execution of decree. Negotiating
skills for settlement of cases in Recovery Camp/Lok Adalat.
• Case studies and important legal decisions of various courts to give a
practical orientation
.............................................................................................................................
Contents
1. Securitisation and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002
2. Practical Tips for Taking Action under SRFAESI Act
3. Scheme of SRFAESI Act and Security Interest (Enforcement) Rules, 2002
4. Check List: For Banks/Financial Institutions to be Followed While Taking
Action under Act
5. Role and Responsibility of Authorised Officer
6. Frequently Asked Questions
7. Central Registry
8. Types of Recovery Mechanisms
9. Recovery Camps, Settlement of NPAs
10. Lok Adalat
11. Recovery of Debts Due to Banks and Financial Institutions Act, 1993
12. Recovery Through State Recovery Acts
13. BIFR Scheme for Settlement
14. Bombay Relief undertaking (Special Provision) Act, 1958
15. Corporate Debt Restructuring
16. Securitisation and Reconstruction of Assets through ARCs
17. Annexures
18. Important legal Decisions Affecting Banks
19. Case Studies
20. Amendments & Notifications
Appendices
• Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002
• Recovery of debts due to Banks and Financial Institutions Act, 1993
• Enforcement of Security Interest and Recovery of Debts
Laws (Amendment) Act, 2004
• Security Interest (Enforcement) Rules, 2002
.............................................................................................................................
Author Details
R.C. Kohli
Ex-General Manager
(Recovery & Law)
Oriental Bank of Commerce
............................................................................................................................. |
