DRT & SARFAESI

For lenders our work covers original applications for recovery of dues, enforcement of security under the SARFAESI Act, taking symbolic and physical possession of secured assets, sale by auction, and recovery certificates. For borrowers and guarantors we file and argue applications under Section 17 of the SARFAESI Act challenging the possession notice and the sale, we contest the classification of an account as non performing where it is wrongly done, and we protect the interests of tenants, family members, and third party purchasers affected by enforcement action. We also act in guarantee disputes, one time settlement negotiations, and objections to auction sales by unsuccessful and affected bidders.

In every such matter we look first at whether the lender has followed the procedure the law lays down, because much turns on that, and we hold the lender to it or, for the lender, make sure it is met. Appeals go from the Debt Recovery Tribunal to the Debt Recovery Appellate Tribunal, from there by writ to the High Court of Andhra Pradesh, and, on questions of law, to the Supreme Court of India.