Tag: As is where is” and “as is what is basis

THE PRINCIPLE OF “AS IS WHERE IS” AND “AS IS WHAT IS BASIS” IN RELATION TO SECURED ASSETS PURCHASED IN PUBLIC AUCTION UNDER SARFAESI ACT,2002

INTRODUCTION As the Legal frame work and mechanism for curtailing and controlling mounting Non- Performing Assets (“NPA”) has become inadequate and outdated which resulted in tardy recovery of defaulting loans by the Financial Institutions arising