SPECIAL ASSET RECONSTRUCTION DIVISION

Maharashtra, Goa, Daman & Diu

Besides settlement of accounts of defaulting borrowers under various specialised Schemes, viz. Non-Discretionary and Non-Discriminatory Schemes, Negotiated One Time Settlement (OTS) Scheme, MSFC by virtue of the powers vested under Section 29 of the State Financial Corporations (SFCs) Act, has gained considerable expertise, in taking over possession of the mortgaged assets (such as land, building, plant and machinery and collateral security in the form of flat, shop, plot of land etc.) and disposal of the same by releasing advertisements for inviting tenders, holding negotiations with the tenderers, preparing Legal Documents for transfer of property with clear title.

With a view to leverage our strength in Recovery as well as the experience in taking over the assets and disposing of the same under Section 29 of SFC's Act, 1951, MSFC provides complete recovery solutions and has started working as “NPA Resolution Partner” of Banks / FIs. MSFC has therefore, constituted a “Special Asset Reconstruction Division” to form partnership with the Banks / FIs to unlock their resources which are presently blocked in the NPAs.

Services would include :

•  Discussing with defaulters to understand the reasons for default, his ability and intentions and explore the possibilities for a negotiated settlement.

•  Work out settlements or arrange to attach the securities – assets, guarantees or receivables of the defaulter and to liquidate the assets to realize the dues.

•  Organize taking over of the fixed assets and disposal of assets to ensure recovery

•  Interaction with advocates and initiate the required legal processes of filing cases – Civil & Criminal at the courts and follow up on the progress thereafter.

For Recovery services we prefer that the average ticket size is Rs.10 lakhs and above. Assets may comprise of term loan, medium term loan and working capital accounts.

Advantages to your Bank :

•  MSFC's recovery process will be transparent and reliable.

•  MSFC will bring in its vast experience and the involvement of a team of experienced recovery personnel which will enhance recovery prospects.

•  MSFC has offices in the states of Maharashtra & Goa which helps Bank to interact with a single point source for its recovery follow-up.

•  Legal and recovery related actions will be handled by MSFC as a composite package.

•  Our recovery solution will resolve the distress assets problem in shortest possible time frame and enhance profitability.

•  Our recovery solution will ensure much more value to the asset than out right sale of NPA.

SPECIAL ASSETS RECONSTRUCTION DIVISION - WHAT WE OFFER ?

Recovery Services

•  Act as “Recovery Partner” for Banks, NBFC's and Financial Institutions.

•  Assumes complete recovery responsibilities.

•  Services include negotiations, legal remedies, restructuring solution and sale of securities.

•  Recovery fee is payable as a percentage of the value recovered on success basis.

•  We are open for providing services in the states of Maharashtra and Goa .

Fees to be charged / Commission depends upon combination of various factors and services provided / required to be provided and would be known after review of portfolio and on case to case basis .