Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI)2002
Non-judicial enforcement of secured creditors' rights.
Practice area · Indian legal practice
Banking and Finance
SARFAESI, RDDB, DRT, recovery proceedings, NCLT for IBC.
Banking and finance practice in India is anchored in the SARFAESI Act 2002, the Recovery of Debts and Bankruptcy Act 1993 (DRT/DRAT), and increasingly the IBC 2016 for corporate insolvency. Forums include the Debts Recovery Tribunal, the Debts Recovery Appellate Tribunal, NCLT for corporate-debtor proceedings, and the High Courts in writ jurisdiction.
Key statutes
Recovery of Debts and Bankruptcy Act (RDDB)1993
DRT/DRAT regime for recovery proceedings by banks and financial institutions.
Insolvency and Bankruptcy Code (IBC)2016
Corporate insolvency for defaulting corporate borrowers.
Reserve Bank of India Act1934
RBI regulation; PCA framework references.
Banking Regulation Act1949
Banking-licence framework.
Primary forums
- Debts Recovery Tribunal (DRT) — original applications under RDDB
- Debts Recovery Appellate Tribunal (DRAT) — appeals
- NCLT — for IBC proceedings against corporate borrowers
- High Court — writ jurisdiction (challenges to DRT orders, SARFAESI proceedings)
- Supreme Court of India
Common matters
- Original applications under Section 19 of the RDDB Act
- SARFAESI Section 17 applications challenging Section 13(4) measures
- Recovery certificates under Section 19
- Section 7 IBC applications against defaulting corporate borrowers
- Auction-sale challenges and confirmation
- Writ petitions challenging DRT orders
Limitation periods
RDDB Section 19(2) — applications by banks within 3 years from cause of action. SARFAESI Section 17 — applications within 45 days from impugned measure under Section 13(4). DRT appeals to DRAT under Section 18 within 30 days; condonation discretionary.
CourtNetra workflow for banking and finance
Banking matters in CourtNetra track DRT case numbers, NPA classification dates, and SARFAESI notice service. Section 13(4) measures and Section 17 challenges are surfaced together with countdown timers. NyayaLens AI surfaces precedent on SARFAESI standing, IBC moratorium, and DRT jurisdictional questions.
Run your banking and finance practice on CourtNetra
3-day free trial — no card required. Add a matter, watch court auto-fetch, run NyayaLens AI on your real brief.