Demand Notice Under Section 13(2) of the SARFAESI Act, 2002
Aug 11, 2026 • Arjuman Rafath13 • Legal Announcements / Legal Notices
Source:
the hitavada
This image shows a formal demand notice issued by Cholamandalam Investment and Finance Company Limited under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, listing three loan default accounts and their corresponding secured assets in Chhattisgarh.Legal Basis: Issued under Section 13(2) of the SARFAESI Act, 2002, requiring borrowers to clear outstanding dues within 60 days to avoid enforcement action against secured assets.Loan Accounts Listed: Three accounts involving borrowers/co-borrowers in Dabha, Raipur, and Dhamtari (Chhattisgarh) with outstanding amounts ranging from ₹37.13 lakh to over ₹2.40 crore as of late July 2026.Action Required: Recipients are called upon to pay outstanding dues along with future interest from the date of the notice to prevent the financial institution from exercising its rights over the mortgaged properties.