Legal Knowledge & Updates

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Acts & sections

SARFAESI Act

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Enables banks and financial institutions to enforce security interest without court intervention, including possession and sale of secured assets.

India · enforcement · 2002

Banking Regulation Act

Banking Regulation Act, 1949

Primary statute governing licensing, management and supervision of banking companies in India.

India · banking · 1949

RBI Master Directions

Consolidated regulatory instructions issued by the Reserve Bank of India across banking, NBFC, KYC and recovery subjects.

India · regulatory

RDB Act

Recovery of Debts and Bankruptcy Act, 1993

Establishes Debts Recovery Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions.

India · recovery · 1993

NI Act

Negotiable Instruments Act, 1881

Governs promissory notes, bills of exchange and cheques, including Section 138 dishonour proceedings.

India · banking · 1881

Contract Act

Indian Contract Act, 1872

Codifies the law relating to contracts, including formation, performance, breach and indemnity and guarantee.

India · contracts · 1872

TP Act

Transfer of Property Act, 1882

Governs transfer of immovable property, mortgages, charges and leases.

India · property · 1882

Companies Act

Companies Act, 2013

Regulates incorporation, governance, charges and winding up of companies; relevant sections include charge registration.

India · corporate · 2013

DPDP Act

Digital Personal Data Protection Act, 2023

Framework for processing digital personal data, consent, data fiduciary obligations and borrower data handling.

India · data · 2023