The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, commonly referred to as the SARFAESI Act, is a significant legislation in India aimed at the recovery of non-performing assets (NPAs) by banks and financial institutions. One of the primary objectives of the Act is to provide a legal framework for the securitization of financial assets, the reconstruction of financial institutions, and the enforcement of security interests without the intervention of the courts, thereby accelerating the recovery process and reducing the burden on judicial infrastructure. A salient feature of the Act is its applicability to banks and financial institutions, which include both public and private sector banks as well as scheduled cooperative banks. Under this Act, these entities are empowered to take possession of secured assets when a borrower defaults in repayment of loans or other financial obligations. The Act covers both movable and immovable assets, making it comprehensive in scope. Additionally, it allows for the creation of asset reconstruction companies (ARCs), which are specialized entities that acquire non-performing assets from banks and financial institutions with the objective of restructuring, rehabilitating, or recovering them efficiently. Securitization under the Act involves the process of