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Is Sar Farsi act applicable on small principal home loan


22-Jul-2023 (In Banking / Finance Law)
My npa of balance home loan of Rs 133000/-is being treated under Sarfarsi act overruling pending court case and published in newspaper for possession of my house what I do now as well as Sar farsi act is applicable on remaining small balance while paid much more than principle loan what could I do now
Answers (1)

Answer #1
872 votes
Sarfaesi act is applicable on non agriculture property and not dependent on smallnor big loan . And the bank has every right to take possesssion . You can write for waive off of some interest amount . And all these things have to be considered before takong loan . Now see if there is some govt scheme for some waive off.

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