The Securitization Act, 2002 has been enacted to ensure speedy recovery of debt through mortgage. As the mortgage is regulated by Transfer of Property Act, 1882 and the procedure for recovery of mortgage money is through the ordinary process of law given in Civil Procedure Code, 1908.Therefore there is a need to make a critical study of the impact of Securitization Act, 2002 on mortgage transaction vis-a-vis recovery of mortgage money. This article examines as to how far the Law is lender friendly/unfriendly.

There is a need to make an in-depth study of the Securitization Act vis a vis mortgage transaction specially in the wake of free market, globalization and Foreign Direct Investment in real estate. Therefore the present scholar seeks to make a brief study of the legal provisions relating mortgage as given in the Transfer of Property Act, 1882 and then to understand a critical study of the salient features of the Securitization Act, 2002 vis-à-vis the object and reasons of the law and to critically examine the impact of these provisions on the Mortgage transaction.

This article aimed to find out the relevancy of the SARFEASI Act in the economic growth of the nation and how far this Act helping the banks and financial institutions in reducing their non-performing assets (NPAs) and what is the impact of this Act on the mortgage transaction in India?

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The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002