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Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
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Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 : ウィキペディア英語版
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (also known as the Sarfaesi Act) is an indian law .It allows banks and other financial institution to auction residential or commercial properties to recover loans. The first asset reconstruction company (ARC) of India, ARCIL, was set up under this act.〔
==Summary==

The law does not apply to unsecured loans, loans below or where remaining debt is below 20% of the original principal. This law allowed the creation of asset reconstruction companies (ARC) and allowed banks to sell their non-performing assets to ARCs. Banks are allowed to take possession of the collateral property and sell it without the permission of a court.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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