Section 13(11) of the SARFAESI Act contains an important provision regarding guarantors and pledged assets. What does Section 13(11) permit the secured creditor to do?

Section 13(11) expressly provides that, without prejudice to the rights conferred on the secured creditor under or by Section 13, the secured creditor shall be entitled to proceed against the guarantors or sell the pledged assets 'without first taking any of the measures specified in clauses (a) to (d) of sub-section (4) in relation to the secured assets under this Act.' This means the secured creditor does not have to first exhaust enforcement of mortgage or hypothecation over the principal borrower's assets before pursuing the guarantor or selling pledged property. This provision ensures maximum flexibility for banks in recovery and prevents guarantors from raising the defence of requiring the bank to first exhaust primary security.