Micro Finance

Querist : Anonymous (Querist) 03 April 2011 This query is : Open
Respected Experts,

As the SARFAESI ACT 2002 is applicable only when amount due is more than 1 Lakhs .

so could anybody provide some some knowledge on how the Micro Financial Institution realized their loan amount back from defaulter if the default amount is less than 1 Lakhs i.e in case of Rs 40000/-,Rs 50000/-.Is there any specific law on that by parliament.

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