Legal Question in Banking Law in India
What is the procedure of taking over the management of the Company under SARFAESI Act u/s 13(4)(b)? A guideline for ARC's are there but not for Bank's/NBFC's. Whether any secured creditor has initiated such action(taking over the management not the possession of the property). Is there any case law or procedure for the same? How to initiate such action. Please provide a solution for the same.
Asked on 2/02/15, 3:19 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
02.02.2015
Repeat query. Already answered. Any further advice or guidance only on prepayment.
Answered on 2/02/15, 4:21 am
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