SARFAESI Act 2002-2

•Provides the legal framework for securitization activities in India.
•law does not apply to unsecured loans, loans below ₹100,000 or where remaining debt is below 20% of the original principal.
•News - Supreme Court Verdict : Co-operative Banks come under the SARFAESI Act and Parliament has legislative competence to provide procedures for recovery of loans under the Sarfaesi Act.