NPA Doctor a unique service - Advice by ex-Banker Lawyer
NPA ACCOUNT RESOLUTION & SARFAESI ACT CONSULTATION
Legal-strategic consultation for effective management and resolution of NPA Accounts.
The Banks and Financial Institutions often invoke SARFAESI Act on defaulted loans, after declaring them NPA (Non-performing Assets). Broadly, a loan is declared NPA, if it continues in default atleast for a period of 90 days. Under SARFAESI Act, the Banks and FI’s have huge powers to take possession of the hypothicated and mortgaged assets of an NPA classified loan account and to put it on Sale through Public Auction or Private Treaty for the realisation of their dues.
Whereas, we help the Client Banks to procedurally implement the SARFAESI Act for effecting recovery of NPA Loans; we also help the Client Borrowers to avoid coercive action of the Banks and FI’s under the provisions of SARFAESI Act and reach an amicable settlement by way of OTS or otherwise and where it is feasible also to ensure continuity of business.
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