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Recovery of Bad Loans |
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BFI is handling secured or unsecured NPAs ageing between one year to 30 years. |
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Possession of Assets under SARFAESI Act |
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Getting CMM orders/District Collector order for taking Physical Possession of the Assets |
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Investigation / Skip Tracing |
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Finding out the background and current status of the borrowers. |
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Locating borrowers who have absconded |
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Assessing Security Value of Mortgaged properties and other Assets |
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Finding out the other outstanding statutory liabilities |
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Collecting Information from the ROC |
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Seizure of Vehicles |
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BFI has seized number of tractors, commercial vehicles and cars, after observing the legal and attendant formalities |
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Custodian |
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BFI acts as custodian of seized / possession taken assets, and employs security guards to safeguard the assets, arranges insurance for the assets. |
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Valuation |
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BFI arranges for valuation of the assets through Govt. / Bank approved valuers. They also have liaison with the Registrar’s Office and other Govt. Departments to find out the Guideline value, obtention of Encumbrance Certificate, by effective relationship management. Establish contacts with the local brokers to know the Market Value of the assets, besides independent enquiries and assessments. |
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Legal |
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BFI is having expert legal network nation wide and attends to DRT, DRAT, High Court, Supreme Court, Company Law Board, BIFR, AIFR and other local Courts in all matters relating to recovery. In case of need, orders are obtained from the District Collector or the Chief Metropolitan Magistrate to take Physical Possession. |
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Sale of Assets |
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BFI arranges for sale of the properties mortgaged by Personal contacts, brokers, arranging spot camps, Advertisements, etc to get better value for the assets. |
