Hello, The Sarfaesi act covers any asset, movable or immovable, given as security whether by way of mortgage, hypothecation or creation of a security interest. There are some exceptions in the act such as personal belongings. However, only that property given as security can be proceeded under the provisions of SARFAESI Act. If the property of the borrower is his own mortgaged residential house, it is also NOT exempted from the Sarfaesi act.

Hi.. > What assets are covered under SARFAESI? --**The Act stipulates four conditions for enforcing the rights by a creditor**. -The debt is secured The debt has been classified as an NPA by the banks -The outstanding dues are one lakh and above and more than 20% of the principal loan amount and interest there on. -The security to be enforced is not an Agricultural land. -The Sarfaesi act covers any asset, movable or immovable, given as security whether by way of mortgage, hypothecation or creation of a security interest. There are some exceptions in the act such as personal belongings. However, only that property given as security can be proceeded under the provisions of SARFAESI Act. If the property of the borrower is his own mortgaged residential house, it is also NOT exempted from the Sarfaesi act.

Hii, the assets are covered under SARFAESI is briefly mentioned here . i.e Any asset, movable or immovable, given as security whether by way of mortgage, hypothecation or creation of a security interest in any other form except those excluded u/s 31 of the Act.So this is the major assets are covered under SARFAESI. Please check this...