KLH’s The Commentaries on Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 by S.P. Sengupta – 2nd Edition 2026.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, is the bedrock of non-judicial debt recovery for Indian banks and financial institutions. KLH’s Commentaries on the SARFAESI Act (2nd Edition, August 2026) provides an exhaustive, section-by-section analysis of this powerful statute. Authored by the highly prolific S.P. Sengupta, this newly released edition synthesizes recent, drastic parliamentary amendments with a massive volume of fresh jurisprudence from the High Courts and the Supreme Court, ensuring litigators are operating with the absolute latest legal interpretations.

Enforcement, Reconstruction & Recovery

The commentary breaks down the aggressive enforcement machinery granted to secured creditors, detailing the procedural safeguards borrowers can invoke:

• Asset Classification & NPA: Deep analysis of the legal triggers for classifying an account as a Non-Performing Asset (NPA) and the issuance of statutory demand notices under Section 13(2).

• Taking Possession & Sale: Step-by-step procedural guidance on taking physical/symbolic possession of secured assets under Section 13(4), navigating the Chief Metropolitan Magistrate/District Magistrate mechanisms under Section 14, and auction procedures.

• DRT & DRAT Litigation: Comprehensive coverage of the appellate remedies available to borrowers and guarantors before the Debt Recovery Tribunal (DRT) and the Debt Recovery Appellate Tribunal (DRAT), including mandatory pre-deposit rules.

The New RBI NBFC Securitisation Directions (2025/2026)

What distinctly separates this 2026 edition from prior works is its extensive coverage of the rapidly evolving Non-Banking Financial Company (NBFC) sector.

• Complete Regulatory Text: The book reproduces and analyzes the Reserve Bank of India (Non-Banking Financial Companies – Securitisation Transactions) Directions, 2025.

• Latest Amendments: Fully updated with Notification No. GSR(E) dated May 19, 2026, providing crucial guidance on how NBFCs must structure and execute securitisation transactions under the purview of the RBI.

Who Should Buy This Book?

• Banking & Finance Lawyers: An indispensable courtroom reference for litigating SARFAESI notices and challenging/defending possession actions before the DRT.

• Bank Authorized Officers & Recovery Agents: Provides the exact statutory procedures required to enforce security interests without triggering judicial stays.

• NBFC Legal & Compliance Teams: Essential for structuring securitisation transactions in strict accordance with the latest 2026 RBI Directions.

• Corporate Litigators: A vital resource for advising corporate guarantors and promoters facing asset reconstruction or takeover proceedings.

About the Author

S.P. Sengupta

S.P. Sengupta is one of India’s most prolific and respected legal authors and revisers. His unparalleled command over Indian statutes spans both civil and criminal law. He is the author of foundational commentaries on the Evidence Act, Negotiable Instruments Act, Essential Commodities Act, Consumer Protection Act, and the Criminal Procedure Code, among many others.

As a highly sought-after revising author, he has updated classical treatises such as Mortgage by Rashbehari Ghosh, the Indian Penal Code, and the Limitation Act. His meticulous, structured approach to legal drafting ensures that this commentary on the SARFAESI Act provides practitioners with unmatched clarity and jurisprudential depth.

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