Drafting of Demand Notice after borrower's account has been classified as Non- Performing Asset (NPA), we furnish a written demand notice to the borrower to discharge its liabilities within sixty (60) days. The demand notice shall contain details of the amount payable by the borrower and the secured assets intended to be enforced by the secured creditor in the event of non-payment. (Section 13(2) and Section 13(3)]-
SARFAESI PROCEEDING
- Any objection received will be replied u/s [Section 13(3A)], the same shall be communicated to the borrower within 15 days with written reasons for non- acceptance.
- [Section 13(4)] Possession is taken either Symbolic or Physical
- [Section 14] Pursuing order from CJM/ CMM Courts.
- Enforcement — Where arrangements are made for taking possession by co — ordinating with advocate of secured properties.
DRT PROCEEDING
- To draft and file original applications before DRT.
- To pursue RC (Recovery Certificate) after the OA is decreed
- To execute the RC / Auction of movables/immovables / Publication.
- Contest any litigation challenging DRT orders in DRAT
NCLT PROCEEDINGS
- If a company or a Private Limited Company defaults in payment of a debt which is more than 1 crore rupee then we pursue through NCLT by filing application before NCLT.
- Pursue with the advocate for admission of the application filed under Sec.7 of the IBC code.
- Appointment of RP/IRP and conducting COC.
- If resolution plan is not received, filing an application for liquidation of Company.