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The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act) is an Indian law.It allows banks and other financial institutions to auction residential or commercial properties of defaulters to recover loans. [1]
Court auction is an auction which takes place at a public location designated by the court. If a property owner fails to pay the mortgage, the mortgage holder can foreclose on that property. If the owner is unable to make sufficient payments, the property can be sold at auction. The time and place of the auction is published in official records ...
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
India Today is a 24-hour English language television news channel based in Noida, Uttar Pradesh that carries news, current affairs and business programming in India. The channel is owned by TV Today Network Ltd , which is a part of Living Media .
In 1985, the bank pledged $450 million to finance the Sardar Sarovar dam and canal, the keystone of an effort to turn the Narmada River into a series of reservoirs that would serve the state’s most drought-prone regions. The bank estimated in 1987 that 60,000 people would be affected by the project.
The English auction is commonly used for selling goods, most prominently antiques and artwork, [2] but also secondhand goods and real estate. Auction by the candle. A type of auction, used in England for selling ships, in which the highest bid laid on the table wins after a burning candle goes out.
In the United States, public auctions to satisfy judgments are usually conducted under the authority of the sheriff of the county or city in which the property to be auctioned was seized pursuant to the judgment, and an auction held for such a purpose is also called a sheriff's sale or sheriff sale. [5] [6] [7]
The Financial Express specialises in Indian and international business and financial news. [1] Its editor is Shyamal Majumdar. [2] Previous logo. The paper publishes 11 editions from a number of Indian cities. It also gives out two noteworthy awards - FE India's Best Bank Awards and FE-EVI Green Business Leadership Awards. [3]