We minutely scrutinize the notice issued under section 13(2) of SARFAESI Act, 2002 & Draft objections against the said notice. The reply is quite exhaustive comprising of mistakes on part of the lending institution/ Bank, latest RBI guidelines, internal Bank circulars, case studies and judgments with citations passed by the various courts in favour of borrowers.
Dealing with 13(4) notice and taking action against the wrongful action taken if any.
Monitoring the matters filed by the financial institution in CMM Court / District Magistrate court to obtain forceful possession of the mortgaged assets & suggest ways to safeguard the mortgaged assets.
Guidance on restoring the possession of the assets illegally taken by the financial institution including challenging the process of possession, process of auction, process of confirmation of sale etc.
It is observed that the Financial Institutions / Banks easily obtain orders in their favour from CMM, DM, Co-operative courts, DRT etc. under various provisions of law for the recovery of their dues, including obtaining forceful physical possession of the mortgaged assets. Thus it is important that the borrower should not ignore the communications, notices issued by them from time to time. It is essential to reply to each of such communications in writing & within the limitation period.
The Borrowers must seek guidance to be aware of their rights under law & take action against any illegal actions if adopted by the lending institutions which would call for breach of constructive trust, misuse of fiduciary relationship, unlawful gain for adopting unfair trade practices.
We provide out of the box solutions to Genuine Borrowers in a pre or post NPA situation. Time being the essence, we provide time tested solutions to safeguard the assets, borrow time legally which otherwise is not given by the Banker, which will enable the borrower to gain strong negotiation grounds. Our intervention between the borrower and its Bank helps to ultimately redevelop healthy relations between the two. We address and assist in Corporate Restructuring, Mergers & Acquisitions & Corporate Litigation.