Debt Recovery
Our firm offers comprehensive debt recovery, restructuring, and insolvency services tailored to corporate clients, including banks, microfinance institutions, and businesses. We provide expert legal advice and guidance on a wide range of debt recovery issues, and assist debtors in distress.
Our Debt Recovery Services Include:
– **General Debt Recovery:** Debt collection, distress for rent, schemes of compromise, investigations, and asset tracing.
– **Debt Restructuring and Rescheduling:** Managing non-performing loans.
– **Civil Litigations:** Representing clients in Magistrates’ Courts and High Courts.
– **Receivership and Insolvency:** Handling insolvency proceedings and associated legal matters.
We ensure strict adherence to statutory procedures and take all necessary steps to avoid challenges that may arise from non-compliance or procedural deviations.
Debt Recovery for International and Domestic Clients
We handle debt recovery for foreign clients and international debt recovery for Indian companies. Our clients include exporters, insurance companies, suppliers, bankers, financial institutions, and law firms. With extensive experience in international debt recovery practices, we address each case in accordance with global standards.
National Network
With offices in Delhi, Mumbai, and Chennai, and partnerships with law firms across all 25 states in India, we offer nationwide debt recovery services at reasonable costs.
Phases of Debt Recovery
– **Amicable Recovery:** Initially, we aim to settle debts through communication with key persons in the debtor company, often leading to settlement deeds and agreed payment schedules.
– **Demand Notice:** If amicable recovery fails, we issue a demand notice under applicable Indian laws such as the Code of Civil Procedure 1906, Arbitration and Conciliation Act 1996, Companies Act, and Insolvency and Bankruptcy Code 2016. This notice prompts the debtor to settle to avoid legal proceedings.
– **Insolvency Proceedings:** Utilizing the Insolvency and Bankruptcy Code 2016, we leverage insolvency notices to encourage debtors to settle their dues. If necessary, we initiate insolvency proceedings before the National Company Law Tribunal.
– **Arbitration Proceedings:** For contracts with an arbitration clause, we initiate arbitration in India or enforce international arbitration awards as per the New York Convention. If the award is from a non-signatory country, we may file a civil suit based on the award.
– **Civil Court Action:** In the absence of an arbitration clause, we pursue civil proceedings, which typically take 2-3 years in India for resolution.
– **Criminal Court Action:** Criminal actions are considered as a last resort, only if no other remedies are available.
Our firm is committed to providing effective and efficient debt recovery solutions tailored to each unique situation.