https://www.taxtmi.com/article/detailed?id=15676 The SARFAESI regime requires a creditor to be a secured creditor by virtue of a security interest created in the secured asset per the Act; a separate guarantee by a village council does not itself constitute such a security interest, and absent a mortgage, charge or security agreement meeting the Act's requirements the statutory enforcement procedure under the Act cannot be invoked, leaving the creditor to pursue ordinary remedies against the borrower and guarantor subject to Nagaland's land transfer and customary constraints. en-us Tue, 30 Dec 2025 09:34:47 +0530 Tue, 30 Dec 2025 09:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15676 The SARFAESI regime requires a creditor to be a secured creditor by virtue of a security interest created in the secured asset per the Act; a separate guarantee by a village council does not itself constitute such a security interest, and absent a mortgage, charge or security agreement meeting the Act's requirements the statutory enforcement procedure under the Act cannot be invoked, leaving the creditor to pursue ordinary remedies against the borrower and guarantor subject to Nagaland's land transfer and customary constraints. Articles Other Topics Tue, 30 Dec 2025 09:34:47 +0530 https://www.taxtmi.com/article/detailed?id=15676