The Gujarat High Court has issued notice in a challenge to Rule 8 (8) of the Security Interest (Enforcement) Rules, 2002 [‘2002 Rules’].In the event of a loan default and subsequent invocation of the Securitisation Act, 2002, Rule 8 (8) of the 2002 Rules effectively enables secured creditors to disregard methods such as a public auction/public tender and sell the immovable secured assets of the borrowed by means of a written settlement or a private treaty with the proposed purchaser. After a 2016 amendment, it states,