Kamal's Commentaries On Securitisation And Reconstruction Of Financial Assets & Enforcement Of Security Interest Act, 2002 - 2nd Edition 2026
| Author : | S.P. Sengupta |
|---|
| Commentaries on the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by S.P. Sengupta, published by Kamal Law House, Kolkata, is a section-by-section commentary on the SARFAESI Act - the statute that lets secured creditors enforce their security without the intervention of a court. This Second Edition, 2026 reads each provision against the amendments Parliament has made and the case law of the Supreme Court and High Courts, and incorporates the RBI (Non-Banking Financial Company - Securitisation Transactions) Directions, 2025, updated to 19 May 2026. It covers NPA classification, the section 13(2) demand notice and the measures under section 13(4), taking possession under section 14, sale of secured assets, remedies before the DRT and DRAT, the Central Registry, offences and penalties, and the allied Acts, Rules and Guidelines. Hardbound. |
Tags: Banking Law, Securitisation, Non-Banking Financial Companies, Banking and Debt Recovery
Commentaries on the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by S.P. Sengupta, published by Kamal Law House, Kolkata, is a section-by-section commentary on the SARFAESI Act — the statute that allows secured creditors to enforce their security without the intervention of a court. This is the Second Edition, 2026, hardbound.
The commentary reads each provision against the amendments Parliament has made to the Act and the case law of the Supreme Court and the High Courts, and this edition incorporates the Reserve Bank of India (Non-Banking Financial Company — Securitisation Transactions) Directions, 2025, updated to 19 May 2026.
Key Features
- Second Edition, 2026, published by Kamal Law House
- Section-by-section commentary on the SARFAESI Act, 2002
- Recent amendments read together with the case law of the superior courts
- Incorporates the RBI NBFC Securitisation Transactions Directions, 2025, updated to 19 May 2026
- Allied Acts, Rules and Guidelines included
- Hardbound, English
Coverage
The commentary follows the scheme of the Act itself:
- Preliminary — definitions, including "financial asset", "non-performing asset", "secured creditor" and "security interest"
- Regulation of securitisation and reconstruction of the financial assets of banks and financial institutions — the registration and functioning of asset reconstruction companies
- Enforcement of security interest — classification of the account as an NPA, the demand notice under section 13(2), the borrower's representation, the measures available under section 13(4), assistance of the Chief Metropolitan Magistrate or District Magistrate under section 14 for taking possession, and the sale of secured assets
- Remedies — the application to the Debts Recovery Tribunal under section 17 and the appeal to the Debts Recovery Appellate Tribunal under section 18
- Central Registry — registration of securitisation, reconstruction and security interest transactions
- Offences and penalties
- Miscellaneous provisions, including the bar of civil court jurisdiction
- Allied Acts, Rules and Guidelines
Who Should Buy This Book?
- Banking lawyers and advocates practising before the DRT and DRAT
- Authorised Officers of banks and financial institutions
- Recovery and legal departments of banks, NBFCs and housing finance companies
- Asset reconstruction companies and their legal teams
- NBFC compliance teams working under the RBI securitisation directions
- Counsel for borrowers and guarantors challenging enforcement measures
- Corporate litigators handling asset reconstruction and recovery proceedings
- Presiding Officers of Debts Recovery Tribunals and judicial officers
- Law libraries, bank libraries and institutional collections
Why Choose This Book?
SARFAESI practice turns on procedure. An enforcement measure that is sound in substance can still be set aside because the demand notice was defective, the borrower's objection was not answered, or the sale notice fell short of the time the Rules require. The commentary is organised so that each step can be checked against the provision, the Rules and the decided cases before it is taken — or before it is challenged.
The 2026 edition also brings in the RBI directions governing securitisation by NBFCs, which now sit alongside the Act for any lender outside the banking sector. For practitioners on either side of a SARFAESI proceeding, a current commentary that holds the Act, the Rules and the regulatory directions together in one volume is the working reference.
