somnath mallick (member) 04 December 2020

Need answer. urgent.

non tribal property purchase by tribal, home loan taken from bank and the said loan turned into NPA,is the sarfaesi act enforceable

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Quick Summary

This discussion explores the enforceability of the SARFAESI Act when a tribal individual purchases non-tribal property using a bank home loan that subsequently becomes NPA (Non-Performing Asset). The consensus suggests the Act's provisions for debt recovery are generally applicable, without specific exemptions based on borrower class or caste. Professional legal advice is recommended for a thorough understanding of individual circumstances.

3 Replies

G.L.N. Prasad (Retired employee.) 05 December 2020

As per my knowledge the acts speaks of borrowed amount recovery and there was no such distinct protection to any class of borrower on such caste basis.. Whatever can be recovered through court can be followed as per eligibility by the bank under the Act.