When secured loans get overdue for more than three months then it is best to take possession and dispose it to recover the loan. Our observation is that earlier and faster the action ,the better the results are for both the financier and borrowers as well. Normally the more the delay in action the more is the loss for both parties.
The repossession can be undertaken by both the specific performance of the agreement or under SRFAESI Act 2002.
Seizure can be initiated only for secured assets, whatsoever, moveable, or immoveable, wherein interest of financier is created on the ownership of the asset. Effective implementation of legal rights by observing all legal formalities is very essential.
We have separate team for it. We undertake repossession of secured asset under specific performance of agreement, decree, order or under Securitization.
We are a private limited company undertaking assignments in securitization and restructuring of financial assets for institutionalized creditors. We undertake assignments in credential verification, identification, collection of due amounts, recovery of overdue amounts, repossession of secured assets, seizure of absconding secured assets.
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