MN Bank classified the loan account of borrower B as a non-performing asset and issued a notice under Section 13(2) of the SARFAESI Act 2002 demanding repayment of ₹50 lakh. B makes a representation to the bank in response. Under Section 13(3

Section 13(3A) of the SARFAESI Act 2002 provides that a borrower may make a representation or raise an objection against the notice issued under Section 13(2) within sixty days of receipt of the notice. Where such a representation or objection is made, the secured creditor is required to consider it and, if the representation is not accepted, to communicate the reasons for non-acceptance within fifteen days of receipt of the representation or objection. Enforcement measures under Section 13(4), which include taking possession of the secured assets, can proceed only after the representation is considered. The fifteen day period for consideration, or for communicating reasons of non-acceptance, is therefore the operative time-frame under Section 13(3A), and the other figures offered do not correspond to the statutory periods.