Case Law Analysis
|Calcutta High Court
90-Day Default Required for NPA Classification under SARFAESI Sec 13(2) | RBI Master Circular Overrules Premature Bank Notice : Calcutta HC
The Calcutta High Court set aside a bank’s SARFAESI notice, ruling that under the RBI’s Master Circular an account can be classified as non-performing only after a continuous 90-day default. This safeguards borrowers from premature NPA status and compels banks to follow RBI guidelines.