SARFAESI -- Secured Creditor May Take Physical Possession Directly Where No Resistance From Borrower
A secured creditor is not mandatorily required to invoke Section 14 of the SARFAESI Act, 2002 for taking physical possession of secured assets. Section 13(4) read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 empowers direct possession where no resistance is faced. Section 14 is an enabling provision for administrative assistance, not a mandatory precondition for possession. The distinction between symbolic and physical possession has no statutory basis under the SARFAESI framework.
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