The SARFAESI Act empowers banks and financial institutions to recover non-performing assets (NPAs) without court intervention. While this may sound daunting, it includes safeguards for borrowers. For instance, under Section 13(2), lenders must notify borrowers of overdue payments, allowing 60 days to respond. If payments aren’t made, Section 13(4) permits banks to take possession of secured assets. Stay informed about your rights and options—contact MAR ASSOCIATES for expert guidance on the SARFAESI Act!
Visit us:-https://marassociates.in/npa-sarfaesi-act
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