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Learn more →Banks and financial institutions recover debts of ₹20 lakh or more through the Debt Recovery Tribunal, and can enforce security without going to court under the SARFAESI Act, 2002 — issuing a 60-day demand notice under Section 13(2) and then taking possession under Section 13(4).
Borrowers and guarantors can challenge SARFAESI action by filing a securitisation application before the DRT within 45 days, and appeal DRT orders to the Debt Recovery Appellate Tribunal on a pre-deposit. We also negotiate one-time settlements.
When you may need this
- You have received a SARFAESI notice under Section 13(2)
- The bank has taken or is taking possession of your property
- A bank has filed a recovery application against you
- You are a guarantor facing recovery
- You want a one-time settlement
How we handle it
- We review the loan documents and the bank's notices
- We reply to the notice within time
- We file a securitisation application or defend the recovery case
- We seek a stay where the law allows
- We negotiate settlement or appeal to DRAT
Documents to bring
- Loan sanction letter and agreements
- Account statements
- SARFAESI notices and possession notices
- Correspondence with the bank
- Property documents of the security