F.A.Q
Borrowers Consultancy
01.
The SARFAESI Act, 2002 empowers banks and financial institutions to recover defaulted loans without court intervention by seizing and auctioning secured assets. The SARFAESI Rules, 2002 define the process for issuing notices, taking possession, and conducting auctions. Our FAQs clarify borrower rights, timelines, legal remedies, and key compliance steps under this Act. This section helps borrowers understand how to respond effectively and legally protect their interests.
02.
The Recovery of Debts and Bankruptcy Act, 1993 enables banks to recover unpaid loans through specialized tribunals called DRTs (Debt Recovery Tribunals). It ensures faster resolution of debt cases and provides a structured process for insolvency of individuals and firms. Our FAQs cover the role of DRTs and DRATs, case filing procedures, borrower rights, and appeal mechanisms. This section helps borrowers navigate legal actions and prepare effective responses.
03.
This section addresses common issues borrowers face beyond loans and NPAs, such as credit report errors, frozen accounts, loan statement disputes, and restructuring delays. Our FAQs provide clear guidance on how to raise complaints, seek corrections, and deal with unfair banking practices. Whether it’s EMI miscalculations or account-related concerns, we help you understand your rights and take the right steps.