Non-performing assets (NPAS): An analysis of SARFAESI act.
By: Rasool, Romisa
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Material type: 
BookPublisher: Kashmir Journal of Legal Studies Description: 9(1), 2022: p.169-194.Subject(s): SARFAESI act, NPA, Securitisation, Security interest
In:
Kashmir Journal of Legal StudiesSummary: The banks and financial institutions are backbone of the economy. The growing figures of non-performing assets (NPA’s) have adversely affected the functioning of the banks. The problem of illiquidity and concentration of risk caused due to NPA’s called for special measures. In order to address the issue, Parliament of India came up with special legislations. Securitisation and Reconstruction of Financial Assets Act, 2002 (SARFAESI) is one such promising legislation which aimed to deal with the issue of NPA’S. The SARFAESI Act conferpower in the banks and financial institution to recover the bad debts without taking recourse to judicial machinery. The paper aims to trace out the legislative measures enacted from time to time to curb NPA’S. The critical analysis of the important provisions of the SARFAESI Act is carried out with a view to highlight the loopholes in the legislation. The working and efficacy of the legislation is also discussed. – Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 9(1), 2022: p.169-194 | Available | AR126831 |
The banks and financial institutions are backbone of the economy. The growing figures of non-performing assets (NPA’s) have adversely affected the functioning of the banks. The problem of illiquidity and concentration of risk caused due to NPA’s called for special measures. In order to address the issue, Parliament of India came up with special legislations. Securitisation and Reconstruction of Financial Assets Act, 2002 (SARFAESI) is one such promising legislation which aimed to deal with the issue of NPA’S. The SARFAESI Act conferpower in the banks and financial institution to recover the bad debts without taking recourse to judicial machinery. The paper aims to trace out the legislative measures enacted from time to time to curb NPA’S. The critical analysis of the important provisions of the SARFAESI Act is carried out with a view to highlight the loopholes in the legislation. The working and efficacy of the legislation is also discussed. – Reproduced
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