Short Title : The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002. Long Title : An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and to provide for a Central database of security interests created on property rights and for matters connected therewith or incidental thereto. SARFAESI Act is an Indian law. It extended to the whole of India . The Act was enacted by Parliament of India on 17 th Dec, 2002. The act was amended by "Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, passed by Lok Sabha. Before this Act took effect, financial institutions had to take recourse to civil suits in the courts to recover their dues, which is a lengthy and time-consuming process. As per the SARFAESI Act, if a borrower defaults on a loan financed by a bank against collateral, then the bank gets sweeping...