To analyse/study all Non Performing Asset(NPA) cases with respect to exposure, security, status of existing operation, any other issues and devise recovery strategy.
To implement the recovery strategies through various actions including legal actions such takeover of properties under SARFAESI/SFC act and other actions such as CIRP process through NCLT for recovery of loans out of NPA cases.
To oversee and manage the recovery out of NPA cases by way of follow up with companies/promoters through meeting/ correspondence, visit to the units/company offices and through various legal actions including takeover /disposal of assets /one time settlement / restructuring of the dues and other legal actions including suit against company/ guarantors, criminal complaints, wilful defaulter proceedings etc.
Takeover and disposal of assets under SARFAESI/SFC act.
Handling of NCLT cases involving submissions of claims, co- ordination and follow up with Resolution professionals/COC/other lenders, attending Creditors meetings, study of resolution plans /deciding on stand on various voting matter and voting on the resolution plan, submissions of plans to management etc .
Co-ordination and follow up with advocates/solicitor firms for various legal actions including filing of suits/CMM applications, vetting of plaints/replies, furnishing information, formulation of our view to be presented at the hearing etc.
Co-ordination with Statutory Auditors, Internal Auditors, RBI Auditors, Advocates, Property Consultants, Valuers, Security Agencies, Government agencies, police etc. including submissions of information required by them.
Review of legal matters/legal actions of all cases with advocate and legal team from time to time.
Submission of proposals for OTS/ Sale of assets to the Board/Recovery Committee, Communication of approval to parties and monitoring/follow up for recovery.
Post Recovery work including execution of legal documents/sale certificate/ release of securities and issuance of no dues certificatesRoles and Responsibilities
