Question
Under the SARFAESI Act, 2002, what is the minimum
percentage of "secured creditors" (by value) required to agree upon the exercise of rights for enforcement of security interest?ÂSolution
According to Section 13(9) of the SARFAESI Act, 2002 , in the case of financing a financial asset by more than one secured creditor, no secured creditor shall be entitled to exercise any or all of the rights unless agreed upon by creditors representing not less than 60% in value.
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