Well, for most of us now it is clear that the banks are there to recover their money at any cost pulling out different maneuvers. Small businessman's are really petrified with the chunk of loan they have on their shoulders. Their one of the biggest reasons to panic, as it is a matter of existence which may even lead to declaration of bankruptcy and ultimately liquidation of company.
MSME's are really under the impressions of the banks; not because that they are guilty but they are unaware of certain laws such as NCLT as acronymed (National Company Law Tribunal) and DRT (Debt recovery Tribunal) built to protect them. However, most of the experts do not stand by this laws as it requires a huge haircut which may even be at 90%. Which is nothing but a heavy pinch to pocket of the public.
However NCLT sheer focus is on the survival of the company. As it's a clear indication that the survival of the company will in turn pay off the debts as in such borrowed by them.
The law is not really old; as it was established during late 2016. However, it's effects clearly states that, since the law came into being 2434 fresh cases have been filed under NCLT and 2304 cases are for seeking winding up of companies have been shifted to High court. Out of these cases, 2750 cases have been disposed off and 1988 cases were under review during December, 2017. According to a revert at the Lok Sabha by minister of the state for finance, Shiv Pratap Shukla.
NPA consultants is a team of thorough professionals, under the leadership of Dr. Vishwas Paanse, an exquisite personality and experienced name in the market makes it sure that every client who enters through the doors must get properly enlightened about their rights and get the proper resolution for the malpractices regarding N.P.A procedures.