• Serving notice u/s 13(2) of “SARFAESI Act”.
• Serving notice u/s 13(4) of “SARFAESI Act”.
• To assist the Authorized Officer of the Bank/FI to issue various communications to the borrowers / guarantors / mortgagors under provisions of the Act and Rules framed there under and / or to reply to the communications / notices received from the borrowers / guarantors or on their behalf, from their advocates.
• To take possession (physical / symbolic) as an agent of the Authorized Officer, in accordance with the procedure laid down under the Rules and assist the A.O. in preparing Panchanama / inventory of the property as per the procedure and format prescribed.
• To arrange for filing of application before the Hon'ble Dist. Magistrate / Chief Metropolitan Magistrate and obtaining order for possession.
• To assist A.O. in sale of the assets as per any of the modes prescribed, receive sale proceeds, issue sale certificate and complete all other necessary formalities prescribed. This job includes drafting suitable advertisement (s), fixing Reserve Price in consultation with the Bank's Authorized Officials, preparing / finalizing tender documents, arranging inspections of the assets, receiving bids, scrutinizing the same, short-listing them, holding negotiations with the bidders, making suitable recommendations to the Bank, issuing sale certificates and completing the documentation.
• Assisting the banks/financial institution in appointing receivers if required.
• Arranging for Public Auctions and sourcing interested buyers for the assets.
• Recovery / Resolution of NPA accounts under DRT Act.