Foreclosure India Blog

Posted in Articles on Oct 02, 2022

A pre-approved loan is – An in-principal approval Valid for a limited period Subject to change in loan terms The benefits are – Focus on your property search Better negotiation power with sellers Quick loan processing

Gold loans saw good growth, demand in Q2: George Alexander Muthoot, Muthoot Finance
Posted in Articles on Aug 10, 2021


Synopsis "If you are in the money, why should we trouble a customer. We can definitely hold those loans as stage 3 and still work in the company so that it does not affect our growth."

In quarter two we have seen good growth and demand in the gold loans. I hope that it will be there in the quarter three and quarter four also, said George Alexander Muthoot, MD, Muthoot Finance Edited excerpts:

You had earlier said that you would use auctions as a last resort, and we have not seen any auctions. Does that indicate that to a certain extent the pressure that you were seeing on asset quality is so...

Advantages of buying properties through Bank Auction
Posted in Articles on Nov 18, 2017

Here are just a few of the reasons that homeowners and investors are going to the Bank Auctions / foreclosure market.

Amendment in SARFAESI Act on NPA constitutionally valid: Supreme Court
Posted in Articles on Oct 28, 2017

NEW DELHI: Supreme Court today upheld the constitutional validity of an amendment in the provision of the securitisation law which authorises the creditor to classify the account of a borrower as Non Performing Assets (NPA) in accordance with RBI guidelines and directions. The apex court passed the judgement while dealing with the amended definition of the expression ‘NPA’ under Section 2(1)(o) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

Checklist for action under SARFAESI Act
Posted in Articles on Oct 28, 2017

Sri C P S Rama Chary garu, Practiced law in City Civil Courts, Industrial Tribunal & High Court of AP for about 9 1/2 years. Served in Law Department of Andhra Bank for about 23 years. Retired Presiding Officer ( DRT3 at Chennai ). Sl.N. STAGE WISE ACTION SUGGESTION/ADVISE 1 Sarfaesi Act poroceeds on the basis that borrower created security interest in favour of bank and his liability stood crystalised on account of his default and his account is classified as NPA Sec.13(2): Where any borrower, who is under a liability to a secured creditor under a security agreement, makes any defau...

Seven Steps to buy properties in Bank Auctions
Posted in Articles on Oct 28, 2017

The following are the seven steps to buy properties in Bank Auctions ( / Foreclosure properties (