Answer:
OA stands for Original Application, which is filed most of the time by banks/ financial institutions for recovery of dues. SA means Securitisation Application, which is usually filed by borrowers/guarantors/tenants/auction purchasers of the property or any other person aggrieved by the SARFAESI actions like notice of possession, sale, auction etc.
The Ministry of Finance has itself clarified that OA cases are filed by banks/financial institutions and SA cases are SARFAESI applications filed by borrowers/guarantors/third parties.
By Advocate BK Singh
Supreme Court | High Court | Tribunals
