Legal Proceeding against Delinquent Members

Post demonetization, the portfolio quality started deteriorating due to various reasons, mainly because of the challenges faced by non-payment of the EMIs by the customers due to lack of cash in the economy. Although there were some members, not paying their dues in the shadow of the market situation, despite having sufficient means to make payment of the dues.

To overcome the situation, a company engaged some dedicated professionals in employment to take action against will full defaulters occurred during the period of demonetization. The recovery process begins with sending the demand notice to delinquent member followed by proceeding in lok adalat and then arbitration. The dedicated team remains well familiar with the financial & past track record of the delinquent member by conducting field visits in a timely manner. Based on that visit, willful defaulters are selected and necessary actions are taken to overcome from the situation. This initiative brings to recover Rs 76.13 lakh till FY 18.

 

2019-02-06T10:27:29+00:00

Leave A Comment