Applicabilty of Sarfaesi Act

Querist : Anonymous (Querist) 01 March 2010 This query is : Resolved
Whether Sarfaesi Act is applicable in case of a borrower having taken loans below Rs. 10 lakhs from a bank?

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nishad (Expert) 01 March 2010
Yes my friend...the act is applicable for any amount greater than one lacs...so go ahead and make the bank proud..

Sachin Bhatia (Expert) 01 March 2010
Yes the act is applicable.

Y V Vishweshwar Rao (Expert) 02 March 2010
The said Act is applicable if the due amount is over one lack / or/ 25 % of the loan amount and the security is non Agri Proeprty .