Sarfaesi Act 13(2) - Business Loans, npa, Npa finance, Npa Account, Sarfaesi

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Sarfaesi Act 13(2)

Contact NPA Doctor to draft reply to the Demand Notice 13(2) SARAESI Act
How to defend yourself under the SARFAESI Act ?
When a Demand Notice issued under Section 13)2) of the SARFAESI Act, 2002, do not allow your hurt emotions to overtake you, do not lose your equilibrium and turn to despair.  It is normal that the notices are posted by various alternate modes (viz. Registered, Courier, speed-post and courier, simulatenously) to all the borrowers and guarantors by the Bank, just to build pressure.  Don't let the Bank succeed in building undue pressure, the stress is dangerous for health and hampers wisdom in taking independent decisions.

The Notice u/s 13(2) represents the one sided version of the Bank, and may be containing false and baseless or not legally sustainable set of information.  The possibility of concoctted grounds is also there.

Strictly speaking a 13(2) Notice is not a punishment, but necessarily it is an impending threat.

Sit with cool mind and do not hasten in coming up with reaction, do not show your fear to the Bank Officers.  Just calmly recollect the Bank's dealings and collect citations from the corresspondance entertained with the Bank.  Collect the documents to evidence negligence, errors and malicious intention on part of the Bank management.

Precisely, you should prepare your self for the expected possession action by the Bank.  Section 13(4) of the SARFAESI Act confers vast powers to the Authorised Officer.  He can take possession of mortgaged assets and auction those to recover the Banks dues.  But like every powerful creature, he too has certain soft points to hit strategically, being not discussed here as these steps , depending upon circumstances of each individual case are to be exercised with great caution.

To restrain the Bank from lawfully going with  13(4)  You need to take following steps:

i. Recollect from all sources including stretching of your memory to pool all facts, documents and particulars about the "Issues-in-dispute" and have a rough compilation of the material particulars;

ii. Please send copies of material collected by you along with copy of memo / charge sheet to us through email (support@npadoctor.com or npadoctor@gmail.com), but only after briefing us over phone;

iii. Based on the material provided and the scheme of our service adopted, we start safeguarding your legitimate interests, saving you from the high-handedness of the Bank(s);

iv.  The 13(2) Notice and the Authorised Oficer appointed by the Bank are to be viewed as a neutral forum.  It provides you 60 days time to present well drafted objections. Your efforts at this stage should be oriented towards making using these proceedings to redeem yourself and to establish your case;  

v.  Practically, it is seen, that in almost all the cases, either the Authorised Officer is not well aware of the provisions of Indian law, not having a legal bent of mind, or working under undue pressure of his bosses in the Bank.   If you feel procedural violations  jeopardising your interest, just bring it to the notice of the Authorised Officer under complaint of grievance to his one step (or more) higher authorities in the Bank, requesting him to record your statement in the SARFAESI proceedings.

vi. The Authorised Officer is required under the law to pass orders whereas the senior Bank authorities to investigate the complaint received. At this stage the matter should rest with that.  There findings may be unfair, but this will provide a good ground to raise dispute at the judicial forum.

v.  The Authorised Officer is rquired to function as quasi-judicial court. You have to bring out your competence and courage in a background of cool mode of calmness and self-confidence.

To handle the matter with more perfectness, let the 'NPA Doctor' handle your case and face the Bank in meetings as well.


For details, may contact at:
mobile: 83606-96178  
or
email : npadoctor@gmail.com

Sarfaesi Act


Defending the mortgaged assets




In the area of Sarfaesi Act, the 'NPADoctor' is Highly Specialized to magically hit the target with legal bullets.  A brief description is of our services in regard to Sarfaesi Act are narrated below:

A. Demand Notice issued under Sec.13(2) of the “SARFAESI Act, 2002’ by the Bank:
1. We prepare well drafted objection petition to Challenge the Demand Notice issued under Sec.13(2) of the SARFAESI Act by the Bank.  This is done  as per provisions of Section 13 (3A) of the SARFAESI Act.

2. We prepare the legal strategy for Saving the assets from being auctioned under the SARFAESI Act and prepare the matter for filing SA in DRT / Application to stay the SARFAESI action initiated by the Bank.

B. Symbolic Possession taken by the Bank u/s Sec.13(4) of the “SARFAESI Act, 2002’ by the Bank:
We prepare the legal strategy for Saving the assets from being auctioned under the SARFAESI Act and prepare the matter for filing SA in DRT / Application to stay the SARFAESI action initiated by the Bank and to legally invalidiate the Bank's action.

C. Physical Possession taken by the Bank u/s Sec.13(4) of the “SARFAESI Act, 2002’ by the Bank:
We prepare the legal strategy for Saving the assets from being auctioned under the SARFAESI Act and prepare the matter for filing SA in DRT / Application to stay the SARFAESI action initiated by the Bank and to legally invalidiate the Bank's action.

D. Asets auctioned by the Bank under SARFAESI Act, 2002:
We examine the case to find legal technicalities to challenge the Bank's action and to get the asset back along with compensation from the Bank.

E. For suit filed account:
1. Engagement of and sitting with lawyer for drafting of reply/arguments etc to counter the  Recovery Suits/OA in DRT file by the Bank.

2. Filing counter claim against the Bank(s), for their lapses /mistakes (such as not following RBI guidelines, Delay in disbursement of loan, Wrongful action/publication under  etc), under the various enactments with legal  justification.

3. To see if there are grounds for release of Personal Guarantee.

4. Challenging the unlawful attachment/sale of assets by the Bank.

F. For Non-suit filed accounts :
1. Rehabilitation/Restructuring of sick units/NPA Accounts with reliefs & concessions, and additional finance.  

2. Prepare cases suitable to pray scope of restructuring before the  BIFR/AAIFR/CDR.

3. Enhancement of existing credit limits, wherever required and justified.

4. Switch-over of accounts to other banks with lower rate of interest/additional finance (for non-NPA accounts only).

G. For all NPA accounts :
1. Consultation for One-Time Settlements (OTS) in favour of borrower.

2. Advice on legal aspects of banking.

3. Suggesting various ways to save the assets (including personal property), irrespective of their being mortgaged/ hypothecated/ charged or otherwise, from being attached/sold by the Bank.

4. Arranging temporary loans from NBFC at reasonable rate of interest for making payment of shortfall in the  amount of  approved OTS to the Bank.

5. Finding out customers for ideal assets for arranging funds for the business of the clients.
Finding strategic investors / technical/ marketing collaborators for the business of our clients.

H. For Standard Accounts :
1. Preparing project reports and arranging Working Capital Cash Credit Limits, Term Loan and non-fund based facilities including Bank Guarantees and Letters of Credit.

2. Arranging ECB (External Commercial Borrowings) for import of Machinery/Equipment, Raw Materials at LIBOR linked cheaper rate of interest.

3. Enhancement of existing credit limits.

4. Switch-over of accounts to another Bank for lower rate of interest/additional finance.

5. Arranging Venture Capital.

I.  What if my business problems are unique in nature, not described above ?
Please feel free to share your issues, hopefully, we take up all sorts of business issues, pertaining from Credit, Banking disputes, Wrongful invoking of Bank Guarantees and disputes between the partners, inter se or the business disputes with third parties as well, besides the NPA Management and strategically rebutting the Sarfaesi Action and leading for settlement of loan by way of compromised OTS with the Bank.

For details, may contact at:
mobile: 83606-96178  
or
email : npadoctor@gmail.com

 
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