What can a Professional NPA-SARFAESI Act Consultant do?
Under SARFAESI Act, Banks enjoy unfettered powers to get possession of the mortgaged properties in a loan after classifying the same as NPA. For taking possession under SARFAESI Act the Bank appoints an Authorised Officer who enjoys the powers to administer the SARFAESI Procedures and he need not to take permission of the Court. Normally, Civil Court has no jurisdiction to interfere in the Bank action the SARFAESI Act.
An experienced NPA Resolution Advisor who is also well versed with the SARFAESI Act, SARFAESI Rules and SARFAESI procedures is always of an immense help to the Banks or to the Borrowers or to the SARFAESI Auction Purchasers/bidders, who so ever engage them for legal advice and consultation services.