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Thursday, May 14, 2020

CO-OP BANKS COME UNDER SARFAESI ACT-----SUPREME COURT

Image may contain: possible text that says 'Banking Today co-op banks come under sarfaesi Act: Supreme Court Supreme Court Tuesday cooperative the related banking covered within company' legislative competence provide for procedure recovery under that mean- Securitisation Reconstruction Finan- Assets Enforcement Security Interest (Sarfaesi) financial institutions to auction properties (residential commercial) borrowers repay their enables reduce their n-performing assets adopting measures for reconstruction. A five-judge Constitution bench by Justice Mishra opinion, of Constitution be to meaning of banking' to the banking' particular Regulation 1949. incorporated decision Rustom Cavasjee Cooper (1970 vividly banking cooperative the ambit of Entry covered Banking Economic'
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