Question

Under sarfesai act a notice to the borower to be given to discharge his full liabilities within a period

Answer 1

The SARFAESI Act, 2002 gives powers of "seize and desist" to bank.
Bank can give a notice in writing to the defaulting its liabilities within 60 days . If the borrower fails to comply with the notice,the bank may take recourse.the borrowers can at any time before the sale in concluded,remit the dues and avoid loosing the security.