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Is SARFASI Act applicable to multistate co-operative bank ?
21-Sep-2023 (In Corporate Law)
if the SARFSI Act aaplicable to the multistate co-operative bank, then how would they get registered with SARFASI ACT for their NPA assets?
Sarfaesi Act applies to multi state cooperative banks. The sale of NPAs by a multi state cooperative bank to a securitization company or an asset reconstruction company will be governed by Guidelines on Sale of Financial Assets to Securitisation Company/ Reconstruction Company (SC/RC) by Multi State Urban Cooperative Banks issued by the Reserve Bank of India.
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Adv. Ananya Gupta
Mumbai | 25+ Answers
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