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  1. SARFAESI Act 2002 is the sward given to the Banks by Parliament. They misuse it.

    Under SARFAESI Act 2002, Bank’s notification in news paper that they took symbolic possession is sufficient without actual physical possession. The persons participating in Auction/Tender has the responsibility of vacating the tenant after getting sale certificate from the Bank. That is why the Bank Auction Properties are sold at very low rates than the market rates. Muscle powered people use the opportunity of Bank’s Auction/Tender to make good money.