Section 13(8) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 Archives

Ownership of secured asset in a statutory sale under SARFAESI is transferred upon issuance of sale certificate: Bombay HC

“On losing merely the right of redemption, a borrower does not automatically lose ownership rights over the secured asset and that the ownership right is ultimately lost only upon issuance of sale certificate in accordance with Rule 9(6) of the SARFAESI Rules.”