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Sec 1, SARFAESI Act 2002: Short Title, Extent & Commencement

Section 1 (Short title, extent and commencement) under Chapter I (Preliminary) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 —

(1) This Act may be called the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

(2) It extends to the whole of India.

(3) It shall be deemed to have come into force on the 21st day of June, 2002.




Extra Notes for Readers

(1) In the 'Preamble' part of the Act - for the long title, the following was substituted, by Act 44 of 2016, s. 2, (w.e.f. 1-Sep-2016):—

 "An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and to provide for a Central database of security interests created on property rights, and for matters connected therewith or incidental thereto.".

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