Latest Achievement
A PSU Bank case from Bodinayakanur, Theni Dist
This case has taken more then 11 months and it has come to us in a dire situation that these group of farmers have lost all their hope to recover from this. We received this file when it was processed in DRT for sale proceedings and we withheld it and processed it for 7.65 crores while the total outstanding is 31 crores. The group of farmers were extremely happy and have received an assets of more then 50 crores from the bank.
A NBFC loan taken over by another NBFC then another take over by ARC
A typical case of multiple takeover from one finance company to another. Client has taken loan in a finance company and that closed down and the same was take over by another finance company and this finance company sold the said loan to ARC. After the 2 takeovers the principal amount skyrocketed and the client did not have the funds ready and needed time. We had ensured the property reached him and have provided time of 8 months before he made the final payment and received the papers.
A client who missed cancelling the MOD found that after 10 years.
It sounds simple but its equally complicated. This client has taken a loan from PSU bank 15 years before and closed the loan but he did not follow-up with the bank to ensure the MOD is cancelled than. Now when his another loan has been declared as NPA. He wanted to sell the older property to pay for the new loan and when he went to register the old property to a client he found that MOD of the said bank is still being displayed. He approached the bank and the bank denied that it has been made a group loan and cannot separate it now. We did it possible in this case.
