The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, popularly known as SRFAESI Act or SRFAESIA empowers Banks to auction off assets held by them as mortgages and recover their dues.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SRFAESI Act), has certain inbuilt procedures that has to be followed before an asset can be auctioned.

Persons interested in purchasing assets directly from the Banks should have brief understanding of the Act so that they do no commit any mistakes, and also do not participate in any auction which is irregular or is likely to be set aside at a latter date.