Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016

The Parliament passed the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016 empowering banks to confiscate security in the case of loan default. The bill approved amends four laws, that is, SARFAESI Act, DRT Act, Indian Stamp Act and Depositories Act.