Our Services' Scope
Physical inspection/survey, an inspection of legal documents, and an assessment of overall viability for taking action under the SARFAESI Act are all part of the pre-takeover examination of identified units/assets.
Finalizing and serving notices as required by the SARFAESI Act and Rules, such as a demand notice under section 13(2), a letter for symbolic possession of secured assets, a notice for physical possession, and a notice for the sale of secured assets, among others.
Update with the borrower to educate and try and convince him to repay his bank debts, as well as to inform him of the impacts of the SARFAESI Act's provisions.
Trying to take symbolic possession of the bank's secured assets on its behalf.
Applying for District Magistrate/Chief Metropolitan Magistrate assistance/orders as needed for taking physical possession of secured assets, as well as the achieve quickly to obtain the order.
Going to apply for police protection all through physical possession and following up to see if they are available.
For and on behalf of the banks, obtaining physical possession of secured assets (movable or immovable) with the assistance of police and other security personnel, eviction of occupants and their belongings, preparation of all legal documents at the time of seizure, and publication of recommended notices.
With the consent of the bank, arranging security, watch and ward for the preservation and protection of Secured Assets, and so on.
After the physical takeover, acting as Custodian and Manager of Secured Assets.
Supporting the bank with the sale of seized assets, market price of movable and immovable secured assets, and recommended price fixation, among other things.
Supporting the bank in the sale of acquired assets via auction, direct sales, or other means, using a large list of potential buyers/investors with ready funds for the purchasing decision of secured assets in distress sales.
Finalizing and assisting the bank in the newspaper of approved notices for effecting the sale of the secured asset and aiding the buyer's receipt of a sale certificate.
Advising the financial institution banks in removing any legal obstacles, such as stays issued by the Court/DRT, etc.
Enabling negotiations with borrowers for the repayment of bank loans.
Any other assistance or steps are necessary to recover debt obligations within the SARFAESI Act's legislative structure.