The banks and financial institutions offer loans and advances for the need of the borrower. These loans are often secured with assets. The incapacity of the borrower to repay the loan many a times poises difficulty on the banks and financial institutions to survive. This money which is being lent is pubic money and if the chain of continuity breaks the monetary circulation is affected and in turn the economy.
The assets which were mortgaged to lend money by the banks and financial institutions, they are difficult to be sold and recover money owing to the fact that the assets are under the ownership of the borrower and he holds the title of it. The right to property being a constitutional right and failure to repay loans by borrowers owing to different circumstances did not allow the banks to sell the property easily. This requirement brought the enactment of SARFAESI Act,2002. Now the banks and financial institutions can create charge on the assets and thereby create security of it.
This course will individually deal with the provisions of SARFAESI Act, 2002, the Security Enforcement Rules, 2002 and DRT Act and Rules in light of the benefit of borrower and secured creditor with regard to the provisions of the abovementioned Act and Rules.
The course has categorically analysed the various provisions in light of the Supreme Court of India and various High Courts and Debt Recovery Tribunals and Debt Recovery Appellate Tribunals.
The course has been designed to meet the requirement of both banks as well as borrowers. The representative of banks will understand the points which will enable them to bring merits for the recovery to be easy and on the other side the representatives of the borrower will get insight on the points which will enable them to protect their assets in case there is violation of the statutes and mandates by Supreme Court of India along with Reserve Bank of India. A careful and proper understanding of the subject will help a lot to each one of them in planning their cases. The students who are new to the practical field will get confident on the subject.
Studying this course the following persons will be benefited:
|Preamble, Purpose of Enactment||6 Hrs|
|Mortgage, Classification, Charge, Hypothecation, Pledg||4 Hrs|
|What is NPA, NPA how made, prerequisites before classif||4 Hrs|
|Enforcement of security interest (sec13)||4 Hrs|
|Section 13(2) - notice of 60 days||4 Hrs|
|Representation by borrower whether confers right to com||4 Hrs|
|One Time Settlement Scheme||3 Hrs|
|Establishment of Tribunals under the Act and Modes of R||2 Hrs|
|Fees to approach DRT and Appeal to Appellate Tribunal||2 Hrs|