Property Possessed under SARFAESI Act, 2002
As per the Reserve Bank of India's circular dated September 25, 2023, Regulated Entities (REs) that qualify as secured creditors under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, are required to disclose details of borrowers whose secured assets have been taken into possession under the Act.
This measure aims to enhance transparency in financial operations.
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