The Company specializes in undertaking outsourcing of entire procedure and legal actions as laid down under Chapter III of THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 (in short referred to as SARFAESI ACT) and THE SECURITY INTEREST ENFORCEMENT RULES, 2002. The Chapter III of SARFAESI Act deals with the second part of the act i.e. ENFORCEMENT OF SECURITY INTEREST (Sections 13 to 18A of the SERFAESI ACT, which deals with the procedures for issuing demand notices; taking symbolic and physical possession of the secured assets; valuation and sale of secured assets; procedure of sale; and security and management of the secured assets, etc.
The Company is impaneled with 21 leading Public Sector Banks in India and 3 leading private sector banks and 5 Gramin Banks and is doing regular business with them. The Company’s operations are spread over 7 States across the country i.e. Delhi/ NCR, Punjab, Haryana, Uttaranchal, Uttar Pradesh, Bihar and Jharkhand. The Company is also expanding its operations to the states of Madhya Pradesh, Rajasthan, Himachal Pradesh, Gujarat and West Bengal.
List of Client Banks
The Company is engaged in this segment of outsourcing since inception of the SARFAESI Act. The process started with the education of constituent of the customer on the provisions and applicability of SARFAESI Act and identification of cases which could fall under the ambit of this Act.
During the journey of 7 years, the Company’s achievements can be enumerated as under:-
Large Customer base i.e. impaneled and doing business with 21 leading public sector banks in India; 3 leading private sector bank; 5 Gramin Banks and Ariel. Having 7 Regional offices in 7 States and 31 Branches
Regional Offices & Branches (Geographical Coverage Page)
- Well equipped with complete infrastructure i.e. Advocates on Panel, Availability of security guards, large database of prospective investors for the easy sale of secured assets.
- Successfully handled more than 4000 cases and recovered more than Rs. 150 Crores.
- Successfully taken 601 Physical possession of secured assets/properties and 1449 symbolic possessions.
- Well qualified and experienced staff have completed 100 hours training as laid down by IIBF/RBI