Urmil
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CA Sandeep Bohra
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Hi..
> Can the secure creditor also take action under SARFAESI against a
> company in liquidation?
--The full form of SARFAESI Act is Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
--Banks utilize this act as an effective tool for bad loans ( NPA) recovery. It is possible where non-performing assets are backed by securities charged to the Bank by way of hypothecation or mortgage or assignment
-- As far as your query is concern, the secured creditor can take action against a company in liquidation in respect of its dues secured by the assets of the company.
-- However, as per the provisions of the SARFAESI act, the secured creditor shall keep the Official Liquidator informed/updated about the steps being taken by it for liquidating the assets.
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Anil
answered
Hello Friend,
I check your interesting queries i.e Can the secure creditor also take action under SARFAESI against a company in liquidation?
Yes, the secured creditor can take action against a company in liquidation in respect of its dues secured by the assets of the company. However, the secured creditor shall keep the Official Liquidator informed/updated about the steps being taken by it for liquidating the assets.
