Debt Collection and Recovery

Legajoist team has rich experience in advising clients on recovery & collection laws. We provide inputs and assist in preparing a debt collection and recovery strategy for each case. We have strong team to handle litigation related to recovery and collection including complaints in the Court for dishonor of cheque, proceeding for taking possession of security under securitization (SARFESAI ACT), recovery suits and summary suits, arbitration and petition Insolvency & Bankruptcy Code at NCLT.

Pursuant to drawn out strategy, we, on a best effort basis, will initiate and drive Debt collection and recovery exercise from defaulting account. Within regulatory framework, the Firm undertakes various types of activities in order to collect and recover overdue amount from the defaulting customer of the clients. While discharging its functions, the firm shall act in a manner which is both legal and ethical, and shall not do or attempt to do anything, which would prejudice the reputation of the client organization.

We work on ‘out of Court settlement’ approach, which may sometimes make settlement much faster and effective for recovery process. Case wise approach is under taken and the defaulting customer are tracked and visited. A proper action plan is drawn up on a case to case basis. The firm will also conduct negotiation, wherever necessary, with the approval of the client organization in order to settle the accounts.