High Court of Karnataka Quashes SARFAESI Notices Against MSME Borrower for Non-Compliance with Mandatory Pre-Action Protocol. Bank's failure to follow RBI Circular dated 29.05.2015 requiring classification as NPA only after 90 days and issuance of 60-day notice before invoking SARFAESI renders proceedings invalid.
29 Apr 2025The petitioners, M/s. Metro Steel Section (Firm) and its partners, are MSME borrowers who availed credit facilities from the State Bank of India. The ...
