Case Law Analysis
|Andhra Pradesh High Court
SARFAESI Act Section 13(3A) | Banks Must Consider Loan Rescheduling Requests During Natural Calamities Before Auction: Andhra Pradesh HC
Andhra Pradesh High Court rules that banks cannot proceed with SARFAESI auctions without first considering bona fide loan rescheduling requests from borrowers affected by natural calamities. The judgment reinforces RBI guidelines on procedural fairness, requiring banks to assess financial distress before enforcing security interests.