A notified NBFC may invoke the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, once the account is a non-performing asset and the statutory thresholds are met. CERSAI registration of the security interest is not a courtesy; it is how priority is proved.
The borrower who receives a section 13(2) notice has a short window to make a representation. Silence is treated as a fact. A section 17 application before the DRT is the principal challenge to a measure under section 13(4) — not a writ filed in haste.
Lenders who skip classification papers, valuation, or service will meet those gaps in the Tribunal. Borrowers who skip the 13(2) reply will meet that gap too.
General information. Not a view on any live NPA.
General information under Indian law. Not an opinion, not a retainer, not a substitute for a conference on your papers.