BankDRT - Making Sense of NPA

Have a dedicated lawyer on call, any time, any number of time.

2018-03-31T16:52:00.000-07:00

Greetings from Team BankDRT

Team BankDRT in association with Bagur & Associates has brought up a scheme to provide best legal consultation services to its members, all from the comfort of their homes/ offices, for 90 days, for just Rs. 5000/- only!!

You can fix up an appointment at any time, for any day, and consult top lawyers, any number of times for the next 90 days. No need to drive, park or go to Lawyer’s Office late in the evening.

Who can be benefited?
a) A person having a legal issue or Court Case on hand. He can discuss issues about his case, proceedings and other matters as the case proceeds
b) Businessmen who are having either a running or sick business, or have any plans for start up or any other matter relating to a business they wish to undertake.
c) People interested in seeking information on how to participate in Bank auctions.

Most people, especially businessmen know the value of having a seasoned lawyer to consult before taking a decision. With this scheme it should be possible for every one to have the benefit of legal consultations virtually “on tap”.

Payments made up to 09-04-2018 are entitled for the above scheme. For more information please contact Deepika [9910578612] or Ms. Sharma [9910578615] or mail us at info@bankdrt.com

For more details visit this link

NPA norms relaxed for GST registered MSN me units.

2018-03-27T10:27:00.001-07:00

The Reserve Bank Of India has relaxed the norms for classification of accounts as Non-Performing Assets in respect of GST registered MSME units. The time period is now is 180 days instead of earlier being 90/120 days of delinquency in respect of loans from banks and NBFCs.

Read the full details

Ugadi Wishes for entrepreneurs of New India

2018-03-18T05:37:00.004-07:00

Dear Sir

Greetings on the occasion of Gudi Padwa, Ugaadi, Cheti Chand & Hindu New Year. May God shower peace, prosperity and bliss on all of us for making India the super power.

The coming year or years are going to be most decisive in the country's growth and projection as World super power. Each one of us have a role to play, and the entrepreneurs of the country have a the biggest responsibility caste upon them to lead the charge the world over.

At BankDRT we would put in place a safe and predictable legal environment in which the entrepreneurs can operate with confidence. It will go a long way in helping our entrepreneurs function with confidence and peace of mind.

Team BankDRT awaits to know what you look forward to in the coming years! You can even WhatsApp 9968265868.

http://bit.ly/2FSHrHG

Bank Customers and Consumer Protection Act.

2018-03-14T22:03:00.000-07:00

Today is World Consumer Rights Day. Whether Bank Customer can seek any remedy under the Consumer Protection Act? If the Bank moves the Debts Recovery Tribunal is the jurisdiction of the Consumer Courts barred? If the customer uses his account to do some commercial activity, is he not a 'consumer' within the meaning of the Consumer Protection Act? What are the points that one must keep in mind before approaching the Consumer Court?

The above questions have been addressed in this article below. If you have any more questions, then do let us know, we will be happy to answer them. You can even WhatsApp the questions on 9969265868 too.

http://bit.ly/2ItxvpW

Do you have rights under Consumer Protection Act ?

2018-03-10T01:38:00.000-08:00

On the occasion of World Consumer Rights Day (15-03-2018) watch out for BankDRT special release on rights of Borrowers, Guarantors and customers.

The new venture is expected to put you heads and toes ahead in understanding your rights, exercising them for your benefit.

Do you have a story to tell, story of turn around, story of wrongful NPA or any thing? Send it to us, we will help others to get inspired from you.
Want to become a smart bank borrower? Check some of the mini workshops lined up for you in 2018. It save your business and life!
Looking to invest in good opportunity or to off load your industry, talk to us. We may help you.
In case you wish to contact us for any reason, please click here.
In case you wish to be unsubscribed from receiving this mails, please return this mail with subject bar "UNSUBSCRIBE"

With Best wishes From Team BankDRT for your rights under the Consumer Protection Act.

BankDRT Greetings

2018-03-02T22:39:00.000-08:00

Do you have a story to tell, story of turn around, story of wrongful NPA or any thing? Send it to us, we will help others to get inspired from you.
Want to become a smart bank borrower? Check some of the mini workshops lined up for you in 2018. It save your business and life!
Looking to invest in good opportunity or to off load your industry, talk to us. We may help you.
In case you wish to contact us for any reason, please click here.
In case you wish to be unsubscribed from receiving this mails, please return this mail with subject bar "UNSUBSCRIBE"

With Best wishes From Team BankDRT for a Happy, Prosperous and Joyful Holi festival.

BankDRT News letter for smart bank customer!

2018-02-27T23:27:00.000-08:00

Greetings from Team BankDRT,

The recent detection and exposure of high value frauds committed by some unscrupulous ‘borrowers’ on banks has made the Government, the regulatory agencies, the banks as well as the oversight bodies to look at all the borrowers through a common prism of fraud, forgery, breach of trust, as well as diversion of funds. Banks, as a thumb rule have started to file and FIR under sections 406/420 read with sections 34 and 120-A of the Indian penal code. Borrowers and Guarantors should take precautionary measures against activities of some hyperactive or timid bank officers.

For more details [Click Here]

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Title:: Don’t litigate as a reflex action.

The moment a Notice is received from a Bank, most borrowers simply litigate as if in a reflex action. A good advocate will help you understand the best way out of a situation, and, in a most profitable way out.

For more details [Click Here]
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Title:: Top Jeweler & Bank Officials arrested for bank fraud.

In the sledge hammer onslaught against willful defaulters, the Central Bureau of Investigation (CBI) arrested top jeweler, his brother, wife and some Bank Officials in bank fraud case.

For more details [Click Here]
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Title:: Pune Businessman Poisons Wife and 2 Daughters, Hangs Self; Suicide Note Reveals Financial Woes

A 38 years or old businessman man from Pune committed suicide by hanging after poisoning his wife (33 years old) and his two daughters aged nine and seven years old. It is reported that the businessman took the extreme step due to financial stress being faced by him.

For more details [Click Here]
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Do you have a story to tell, story of turn around, story of wrongful NPA or any thing? Send it to us, we will help others to get inspired from you.
Want to become a smart bank borrower? Check some of the mini workshops lined up for you in 2018. It save your business and life!
Looking to invest in good opportunity or to off load your industry, talk to us. We may help you.
In case you wish to contact us for any reason, please click here.
In case you wish to be unsubscribed from receiving this mails, please return this mail with subject bar "UNSUBSCRIBE"

With Best wishes From Team BankDRT for a Happy, Prosperous and Joyful Holi festival.

Regards

Team BankDRT

News letter for alert, intelligent and smart bank customer!

2018-02-03T01:22:00.000-08:00

Greetings from Team BankDRT,
As time races towards 31st March 2018, Banks are racing against time in what could be the most tumults 2018-19.

Banks are staring at about Rs. 9 lakh cores of NPA, and huge cash crunch resulting in lending problems, strong Reserve Bank of India regulatory mechanism and question of survival on market dynamics.

On top of all the above, extremely alert and intelligent borrower who no longer shows subservience and loyalty to a bank as before.

And to make our members intelligent, alert and smart we bring here some tit-bits that may interest you:

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Title:: Are Bank are misusing SARFAESI Act
The SARFAESI Act was placed in the hands of the Banks, in trust for a purpose. Have the banks lived up to the trust reposed in them by the Legislature? Here is one mail received from one our esteemed site members which will give you one more insight to think over

For more details [click here]
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Title:: Banks bank heavily on the bankruptcy and insolvency code
Is the Bankruptcy and Insolvency Code (BIC) some magical potion which will transform an ugly duckling into a beautiful Cinderella girl! Banks think so that all their NPAs owes will disappear hereafter!

For more details [click here]
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Title:: Director of a Company arrested for Rs. 5000 Cr Bank Fraud.
As Banks go hammer and tongs at NPAs, a Director of Gujarat-based pharma firm was arrested a Rs. 5,000 Cr. Bank fraud.

For more details [click here]
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Title:: MD of REI Agro Ltd arrested for Bank Fraud.
Siphoning off and diversion of bank funds through shell companies is one old hat with some CAs and professional borrowers. Here’s how they got trapped.

For more details [click here]
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Title:: Buy assets at bank auctions only after due diligence
About Rs. 8.5 lakh crores of NPA has a lot of collateral coming up for auctions. How to go about investing in stressed with least risk is an art which every investor need to master in his own way. Here are some tips for you to follow:

For more details [click here]
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Do you have a story to tell, story of turn around, story of wrongful NPA or any thing? Send it to us, we will help others to get inspired from you.
Want to become a smart bank borrower? Check some of the mini workshops lined up for you in 2018. It save your business and life!
Looking to invest in good opportunity or to off load your industry, talk to us. We may help you.
In case you wish to contact us for any reason, please click here.
In case you wish to be unsubscribed from receiving this mails, please return this mail with subject bar "UNSUBSCRIBE"

Thanking you.
Yours sincerely

Team BankDRT

Open House Meet

2018-01-30T22:14:00.003-08:00

Warm Greetings from BankDRT

Namaskar,

It gives us pleasure to inform you that as part of our social objective we are holding open house meet on 03.02.2018 at 02:00 PM at our Delhi Office.

At the open house you can meet our legal experts and discuss case matters on macro level. There is absolutely no fees for the same. However you will have to pay a nominal fee of Rs. 50/- towards clerk-age.

As the number of persons who can be accommodated in the Open House meet is limited, prior registration is a must. For registration please call 011-43570137, +91-9910578612 or mail to info@bankdrt.com

Documents related to the case should be handed over at least 3 days in advance, either in physical format or in pdf formats via email. The documents in physical format may be sent to "BankDRT Services, B-7, 2nd Floor, Street No. 13, Madhu Vihar, I.P. Extension, Patparganj, New Delhi - 110092". Documents in pdf format may send to crm.bankdrt@gmail.com

Have a nice Day.

With Regards

Team BankDRT

Ph: 011-43570137

Mob: +91-9910578612

Stuck with GST Credits? Take Loans against it through SBI’s MSME Assit!

2017-11-01T04:10:00.000-07:00

News Letter

Dear esteemed BankDRT Member,

Stuck with GST Credits? Take Loans against it through SBI’s MSME Assit!
Many MSME units are having problems with their GST credit inputs which is blocking their working capital. Now banks are coming with schemes to offer loans against GST credits with MSME units.
Read More - http://bit.ly/2yBXZ6F

No money to put up for litigation? Consider indigence route!
There many instances where a person has to either defend a case or institute a case, but has no money to do so. In such situations there is a provision to peruse his legal remedies without having to pay Court Fees.
Read More – http://bit.ly/2zHRooR

Expect more aggressive resolution of NPAs by SBI.
The State Bank of India is most likely to enter into a more aggressive NPA resolution mode in the coming weeks or months.
Read More – http://bit.ly/2gHr0H2

Are you blue-chip customer? Now you are the King!
Blue-chip customers, also known as customers with good credit rating, or customers with no defaults would be a pampered lot. Now a blue-chip customer can seek lower rate of interests, higher working capital, other short-term benefits. If your bank fails to accommodate you, there will be some other bank waiting with the carpet.
Read More - http://bit.ly/2y2SHl7

This Diwali plan to take a Law Firm on Board!
Diwali is time for planning for next year and the years beyond. One good idea could be to have a law firm on board to help you hedge off possible unexpected costly legal expenses. In long term a Law Firm on board will give the confidence to go for aggressive expansion and take on competition.
Read More - http://bit.ly/2gqx9r6

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Ø Follow BankDRT on twitter and be abreast of Banking law scenarios

Ø Join BankDRT Face Book page and share your thoughts or your story

Ø Need legal assistance, there is help around the corner. Try it.

And Team BankDRT is always there for any assistance you may need.

Team BankDRT
Ph: 011-43570137, 22247128
Mob: +91-9910578612

This Diwali plan to take a Law Firm on Board!

2017-10-18T02:58:00.000-07:00

News Letter

Dear esteemed BankDRT Member,

This Diwali plan to take a Law Firm on Board!
Diwali is time for planning for next year and the years beyond. One good idea could be to have a law firm on board to help you hedge off possible unexpected costly legal expenses. In long term a Law Firm on board will give the confidence to go for aggressive expansion and take on competition.

Read more: http://bit.ly/2gqx9r6

GST credit linked WCDL on offer.

SBI has introduced a new short term loan called as SME Assist. Under this scheme, SBI will provide a short term working capital demand loan (WCDL) to MSMEs on their input credit claims under GST at a concessional rate of interest for a period of nine months.

Read more- http://bit.ly/2xOaUmq

Your cash flow could be new credit rating.

As of now banks rate a borrower by the value of collaterals he keeps with them to cover their risk. This could soon be a thing of the past. The cash flows could be bench marked as your repaying capacity and trust worthiness. Well what more can a honest business man ask for?

Team BankDRT wishes all its members a very Happy and Prosperous Diwali and year to come

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Ø Follow BankDRT on twitter and be abreast of Banking law scenarios

Ø Join BankDRT Face Book page and share your thoughts or your story

Ø Need legal assistance, there is help around the corner. Try it.

And Team BankDRT is always there for any assistance you may need.

Team BankDRT
Ph: 011-43570137, 22247128
Mob: +91-9910578612

Banks market OTS Schemes aggressively. Take Advantage.

2017-10-03T21:36:00.001-07:00

News Letter

Dear esteemed BankDRT Member,

Some of the important news items that you might have missed during the past few months have been encapsulated below.

Banks market OTS Schemes aggressively. Take Advantage.

All most all banks, especially the PSU Banks, have come out with new and modified “One Time Settlement” (OTS) Scheme. With a slight nudge from the Reserve Bank of India, the Banks have become bolder and even lower rank officials have become emboldened to negotiate a OTS with their borrowers. Earlier the officials were scared of going in for OTS for fear of some Departmental inquiry or other hence would prefer the litigated route even though it may mean either less or no recovery.

So if you have an account that has become NPA, especially if it is old, try to find out what OTS scheme are available with your bank. It is a opportune time to close and settle your NPA account, unless you have other issues like counter claim or criminal proceedings etc.

Taking fresh loan? Be cautious. Have a expert to advise you on portents.

In the last generation, if that is the correct word to use, most borrowers became NPA on the very first day of the first installment of loan being released. While some borrowers realized what is happening and took some corrective steps, but most did not even know what has happened to them until they received recall notice from the Bank and then consulted a proper banking expert advocate.

There are numerous reasons why your account will become NPA even though your project is techno-economically viable and you can see the picture. It is because the liquidity in the account was sucked out by the bank itself long before the first installment was released, or sooner or latter thereafter. You need to understand how liquidity gets sucked out and take corrective actions long before your jugular is held on to by creditors.

It is no longer a wise idea to hire a retired bank clerk or accountant to handle matters related to bank and other financial matters. It would be good idea if you are able to afford a full time Advocate or Legal Expert on the Board, or at least hire a Advocate on retainer ship. Small MSME Units and businessmen will find it profitable to have top-notch advocates on retainer ship, who would not only do a continuous legal audit of all your dealings, but would also fore-warn you of some possible events yet to occur or may occur.

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Ø Follow BankDRT on twitter and be abreast of Banking law scenarios

Ø Join BankDRT Face Book page and share your thoughts or your story

Ø Need legal assistance, there is help around the corner. Try it.

And Team BankDRT is always there for any assistance you may need.

Team BankDRT
Ph: 011-43570137, 22247128
Mob: +91-9910578612

Updating on Bank Debt Resolution

2017-05-27T04:13:00.000-07:00

News Letter

Dear esteemed BankDRT Member,

Some of the important news items that you might have missed during the past few months have been encapsulated below. If the news item interests you please follow the link to read the whole article.

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Tenant cannot be evicted under the DRT Act.

The Supreme Court has held that a tenant can be evicted only by a due process of law and the tenancy has to be determined by a proper process established. They cannot be evicted by the use of brute force under provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act 2002 or Recovery of Debts Due to Banks and Financial (RDBFI) Act 1993.

[Click here to read more]

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Continuing Guarantee does not extent period of limitation.

It has been held that agreement of continuing guarantee does not increase the period of limitation available to the bank. An agreement contrary to the provisions of the statue cannot be enforced even though the guarantor had voluntarily signed it. There can be no estoppel against the statute. The surety is discharged if there is any variation in the contract without surety’s consent.

[Click here to read more]

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Ordinance promulgated for quick resolution of stressed assets.

An ordinance has been promulgated for a quick resolution of stressed assets of banks and to balance the interests of other stakeholders. The new ordinance aims to utilize the provisions of the Insolvency and Bankruptcy Code (IBC) 2016 for the purpose.

[Click here to read more]

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How Banks are likely to use the new ordinance under the Banking Regulations Act?

The government of India has promulgated a ordinance aimed at quick resolution of stressed assets of banks and to balance the interests of other stakeholders. At first look, there is nothing earthshaking or anything extraordinary in the new ordinance. However the business community, the bankers and the consultants are talking animatedly about something big to happen out of the Ordinance. What could then be?

[Click here to read more]

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Guarantors beware you have no protection before DRTs.

At law guarantors responsibility and liability is more than that of the principle borrower. But does not mean that we must stop standing as guarantors for our near and dear ones. Take simple precautions and look after your interests.

[Click here to read more]

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Government allows 100% vulture funds into ARC’s.

The government of India has notified 100% ‘Foreign Direct Investment’ (FDI) in the security receipts issued by Asset Reconstruction Companies (ARCs) through the automatic route. This announcement was made by Department of Industrial Policy and Promotion (DIPP) on 7th May 2016.

[Click here to read more]

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Auction purchasers are not required to make any pre-deposit of amount for filing appeal to the DRAT.

Pre-deposit for filing an appeal to DRAT is only from the borrowers and guarantors, and not from others.

Purchaser of mortgaged property does become a borrower or debtor of the Bank hence he is not required to make a pre-deposit of debt due to the bank.

[Click here to read more]

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Ø Follow BankDRT on twitter and be abreast of Banking law scenarios

Ø Join BankDRT Face Book page and share your thoughts or your story

Ø Need legal assistance, there is help around the corner. Try it.

And Team BankDRT is always there for any assistance you may need.

Team BankDRT
Ph: 011-43570137, 22247128
Ph: 080-49538322
Mob: +91-9910578612

Change in Bangalore Office Number

2017-05-22T22:48:00.000-07:00

Hi valuable BankDRT Members,

Due to administrative reasons we are discontinuing our Telephone No: 080-222458383 at our Bangalore Office. The new number would be 080-49538322.

Kindly note the change in number. The other number, being 8884342463 will also be available. The Bangalore Office work can also be coordinated through our Delhi Office numbers as well. For any urgency in the matter, you can also send messages on our dedicated WhatsApp number 9968265868.

Regards

Team BankDRT

Ph: 011-43570137, 22247128

Mob: +91-9910578612

BankDRT WhatsApp number for seamless communication

2017-05-13T02:03:00.000-07:00

BankDRT’s WhatsApp number for seamless communication

Dear valuable member of BankDRT,

With a view to help our members get inputs and assistance on the go, and to be in touch with our law officers, we have activated a WhatsApp number.

The number is 9968265868.

Hope this new facility will be an added facility to improve connectivity and communication between BankDRT and its members.

Regards

Team BankDRT

Resolving Debt burden smartly

2017-03-17T00:43:00.001-07:00

Having problems with debt burden? BankDRT’s Workshop may show you light at the end of the tunnel !!

As you are aware, with a view to bring in ease of doing business, the Parliament has passed the “Insolvency & Bankruptcy Code 2016”, modified ‘Recovery of Debts & Bankruptcy Act’ and amended the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, and brought in other changes as well.

Proper use of the new laws provide good options to resolve debt issues, exit and start afresh. If not done properly the issue could become intractable problem spoiling your future. The one day intensive workshop aims to provide comprehensive overview of laws, procedures, rules, regulations and help take best possible exit option.

About Workshop

Venue :: Delhi

Date of work shop :: April 30, 2017

Fee :: Rs.8050/- per participant (inclusive of lunch, tea, snacks, hand outs).

To Book seat :: Make payment to: Account Name: BankDRT Informatic Services, Account No.: 213400201000151, Corporation Bank, Patpargunj (I.P. Extension), Delhi-92, IFSC Code: CORP0002134, and send us the payment details, name of the Participant, along with contact details.

For further details/ inquiry regarding workshop, please contact Mr. Manoj Kumar (+91-8882170004), Ms. Payal Anand (+91-11-43570137, 22247128), or email to info@bankdrt.com

2016-06-09T02:06:00.000-07:00

News Letter

Dear Member,

The Supreme Court has held that tenants are entitled to protection under the tenancy laws of the respective state governments.

A tenant can be evicted only by a due process of law and the tenancy has to be determined by a proper process established. They cannot be evicted by the use of brute force under provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act 2002 .

The banks contended that the SARFAESI Act 2002 is a special law and prevails over the State tenancy laws. Is was also argued by the banks that if there was ever a clash between the State and the Central laws, the Central law will prevail over the State law. It was also submitted that if the contention of the tenants was accepted, then the Central Act would be rendered nugatory as the mortgagors would set up benami tenants and frustrate the efforts of the bank in reducing their NPA which will have a deleterious effect on the economy.

The Supreme Court was tasked in resolving the complicated issues when a large number of tenants came up before them and sought protection from being evicted under the provisions of SARFAESI Act, and determination of the tenancy under the respective tenancy acts of the State.

Read full text of the judgment and for your benefits.

Ø Follow BankDRT on twitter and be abreast of Banking law scenarios

Ø Join BankDRT Face Book page and share your thoughts or your story

Ø Need legal assistance, there is help around the corner. Try it.

And Team BankDRT is always there for any assistance you may need.

News Letter on Bank Debt Resolution.

2015-01-21T03:38:00.002-08:00

Greetings from team BankDRT for the new year 2015 and all of us from here wish you and your family health, happiness and prosperity.

Thank you very much for being a member of BankDRT. In 2014 we have worked very hard to give our members cutting edge information about resolution of bank debts, how to grow during recession, how to capitalize during boom period, and how to hedge possible cash crunch crisis. We bring to you in this news letter some of the quintessence of news and judgments on matters relating resolution of bank debts that you might have missed reading :

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Rules and Procedures for classification of accounts as NPA should be uniform and non discriminatorybetween customers of various banks.

Banks cannot adopt different standards for declaring accounts as NPAs within the bank.

Only RBI can stipulate rules and procedures for treating accounts of NPA. Individual Banks cannot draft their own rules for treating accounts as NPA.

The RBI rules stipulating different periods for accounts to be treated as NPA in banks and NBFCs is not violative of Article 14 of the Constitution of India.

READ FULL JUDGMENT

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The CMM/ DMM cannot dispossess a tenant/ lessee of a mortgaged property.

The remedy of appeal to DRT by ‘any aggrieved person’ is not a good remedy for a tenant or lessee, as the DRT has no powers to put a dispossessed tenant/ lessee back into the property.

The DRT has powers to put only the owner of the asset back into the property, but no one else.

The CMM/ DM should hear and decide whether the person staying in the mortgaged property is a tenant/ lessee and has a right to stay in the property before accepting an application of a bank to eject any person staying in the mortgaged property.

Maharashtra Rent Control Act is not saved by the SARFAESI Act hence a tenant/ lessee of a mortgaged property cannot go to the Court of Rent Controller over the order or CMM/DM u/s 14 of the SARFAESI Act.

READ FULL JUDGMENT

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Writ petition seeking directions for the bank to not start proceeding under the SRFAESI Act and allow time to the petitioner to repay the amount due.

READ FULL JUDGMENT

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Remedies provided under Sections 29 and 31 of the State Financial Corporation Act are without prejudice to each other. However, a corporation cannot avail the benefit of both the sections simultaneously.

READ FULL JUDGMENT

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Sec. 29 of the SFC Act does not empower a financial corporation to proceed against assets of third party to recover its dues from a defulting borrower.

Under sec. 29 of the SFC Act a financial corporation can proceed only against assets of the defaulting borrower, and not against the assets of third party.

READ FULL JUDGMENT

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A person being charged as wilful defaulter has the right to seek copies of all the documents that the bank relies upon.

A person being charged as wilful defaulter has the right to be represented by an advocate of his choice.

The mere fact that the committee does not have any legally trained person does not bar a person being charged as wilful defaulter to be represented by an advocate.

The decision of the committee to declare a person as wilful defaulter has serious consequences and as such adequate opportunity should be given to the person to defend himself and have his say.

READ FULL JUDGMENT

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Some important RBI Circulars

1. Non-Cooperative Borrowers

2. Master Circular ‐ Lending to Micro, Small & Medium Enterprises (MSME) Sector

3. External Commercial Borrowings (ECB) Policy - Refinance / Repayment of Rupee loans raised from domestic banking system

For more RBI Circular click here

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Should you need any assistance and/or guidance to help resolve your bank debt issues please feel free to revert back to us.

BankDRT Specialized Services

2015-01-21T03:04:00.000-08:00

BankDRT Offers highly specialized services and assistance in the following spheres:

Turnaround of MSME Units

BankDRT Subscription Dhamaka!

2014-12-30T01:31:00.000-08:00

BankDRT's
New Year Subscription Festival!

Subscribe for 90 days and get additional 90 days FREE!

Subscribe for 180 days and get additional 180 days absolutely FREE!

Offer valid till 15 January 2015

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8 Presiding Officers appointed in various Debt Recovery Tribunal’s in the Country

2014-12-30T01:01:00.003-08:00

The Central Government has issued notifications appointing eight Presiding Officers to various Debt Recovery Tribunal’s (DRT) in the country. This will help speed up pending matters in various DRTs due absence of Presiding Officers, or non availability of link Presiding Officers during the leave of a Presiding Officers.

Superstar Rajnikant too haunted by SARFAESI Act !!!

2014-12-30T01:00:00.001-08:00

For all of us Rajnikant fans and having grown up on Rajnikant jokes this one too should be joke. The media is full of news (or rumors) that valuable assets of Rajnikant’s wife have been put up for auction by IDBI Bank under the SARFAESI Act !!.

BankDRT Specialized Services

2014-12-29T23:37:00.002-08:00

BankDRT Offers highly specialized services and assistance in the following spheres:

Turnaround of MSME Units

2014-12-07T22:22:00.003-08:00

DO YOU KNOW:

Sec. 29 of the SFC Act does not empower a financial corporation to proceed against assets of third party to recover its dues from a defulting borrower.

Under sec. 29 of the SFC Act a financial corporation can proceed only against assets of the defaulting borrower, and not against the assets of third party.

Read Full Judgment...

Why throttle NPA account holders?

2014-12-07T21:52:00.003-08:00

Recently the Reserve Bank of India (RBI) made the Non Banking Companies (NBFC) on par with other scheduled commercial banks in the matter of classifying and reporting of Non Performing Assets. This step is likely to create more problems for honest borrowers who wish to borrow funds form outside sources and repay the banks, and on the other more difficulties for the banks to recover their NPAs resulting in ballooning of debt recovery matters.

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