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ganesh ramaswamy (Regional Manager)     05 July 2010

Absconding Borrowers and SARFaESI act

when loan borrower defaults  and the borrower is  not tracable(from the banks prespective), can the banks/institutions use sarfaesi act to take possession of the property and transfer the property by auction/sale to third party?  under this circumstance how is the interest of the legal heirs of  the borower would be addressed?



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