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The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act) is an Indian law.It allows banks and other financial institutions to auction residential or commercial properties of defaulters to recover loans. [1]
In the history of modern India, this doctrine was challenged twice (broadly speaking) once when land reform was initiated and another time when Banks were nationalized. [14] The Constitution of India originally provided the right to property is a legal right under government only (which includes land) under Articles 19 and 31. Article 19 ...
The law was amended through Regulation 7 of 1799 which now made auctions of the property of Zamindars who defaulted on taxes yearly events not monthly. [2] [5] There was tension and conflict between the new landlords, who bought the title in auction, and the peasants, known as Raiyats, who were supported by the dispossessed Zamindars. [6]
It can be directly offered for sale to the private sector or indirectly done through a bidding process. The Public Enterprises Survey (2015–16), brought out by the Department of Public Enterprises, Ministry of Heavy Industries , Government of India on the performance of Central Public Sector Enterprises (CPSEs) was placed in both the Houses ...
Another special case of a combinatorial auction is the combinatorial clock auction (CCA), which combines a clock auction, during which bidders may provide their confirmations in response to the rising prices, with a subsequantial sealed bid auction, in which bidders submit sealed package bids. The auctioneer uses the final bids to compute the ...
Consignment is a process whereby a person gives permission to another party to take care of their property while retaining full ownership of the property until the item is sold to the final buyer. [1] It is generally done during auctions, shipping, goods transfer, or putting something up for sale in a consignment store. [2]
A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
In the United States, public auctions to satisfy judgments are usually conducted under the authority of the sheriff of the county or city in which the property to be auctioned was seized pursuant to the judgment, and an auction held for such a purpose is also called a sheriff's sale or sheriff sale. [5] [6] [7]