Frequently Asked Questions
Everything you need to know about bank property auctions, legal due diligence, EMD deposits, and the online bidding process.
When a borrower defaults on a secured loan from a bank or financial institution, the creditor can initiate recovery proceedings under the SARFAESI Act, 2002 or through the Debts Recovery Tribunal (DRT). The mortgaged collateral property is auctioned publicly to recover unpaid dues, typically at 20% to 40% below prevalent open market rates.
Category: General
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