Execution of DM/CMM/CJM Order u/s 14 of SARFAESI Act 2002
At Kaizen and Shield, we specialize in providing SARFAESI Act legal enforcement services, focusing on the execution of DM/CMM/CJM orders under Section 14 of the SARFAESI Act 2002. This critical service ensures that collateral property tied to defaulted loans is repossessed and made available for auction, facilitating NPA resolution via SARFAESI enforcement. Our comprehensive approach addresses the needs of financial institutions seeking effective legal debt collection and asset repossession under SARFAESI Act 2002.
Our Solution
Financial institutions dealing with non-performing assets (NPAs) often struggle with SARFAESI compliance and asset repossession. Our service solves this problem by executing Section 14 orders to take physical possession of the collateral property, ensuring the process is smooth, compliant, and timely. This makes the property ready for auction, a crucial step in SARFAESI-driven debt recovery solutions.
Key Features of Our Service
- Execution of DM/CMM/CJM Orders: Upon receiving the DM/CMM/CJM order, we apply to the concerned authorities and the police to secure the execution date notice.
- Liaisoning for Early Execution: We coordinate with clerks, circle offices, and court commissioners for early execution and obtaining the necessary approvals. Our in-depth process knowledge ensures that there are no delays in this critical phase of the SARFAESI enforcement process.
- Police Protection & Coordination: We handle the application for police protection on the execution date, ensuring protection support from the CP/SP office. We take care of the payment of fees of police protection to the police station.
- Coordinated Asset Repossession: On execution day, we ensure the asset repossession under SARFAESI Act 2002 is conducted smoothly, in the presence of revenue officers, police, and authorized bank officers.
- Sealing and Pasting Notices: The property is sealed, and possession notices and banners are pasted. We also prepare the Panchnama and inventory in the presence of local witnesses.
- Comprehensive Documentation: We document the entire process through videography and photography, and secure a Taba Pawati (possession receipt) from the revenue department, ensuring full compliance with SARFAESI compliance requirements.
- Associated Cost: We manage all incidental charges related to authorities and any other miscellaneous requirements necessary for the execution of the Section 14 order.
Key Benefits to the Client
- Early Resolution of NPA Accounts: By utilizing our end-to-end SARFAESI process management, financial institutions can achieve the timely physical possession of assets, paving the way for swift auction and debt recovery.
- 100% Accuracy and Legal Compliance: We ensure compliance with all legal requirements under the SARFAESI Act, ensuring that the execution process is completed with precision and no room for legal disputes.
- Preparation for the Next Stage of Enforcement: Our service readies the asset for auction or liquidation, adhering to all steps in the SARFAESI-driven debt recovery solutions.
- Seamless Coordination: With our best SARFAESI enforcement consultants, we handle every aspect of the process, from documentation to police protection, ensuring smooth execution and minimizing any potential obstacles.
Why Choose Kaizen and Shield?
- Skilled Resources: Our team consists of highly skilled professionals and advocates who specialize in SARFAESI enforcement. This ensures that every step, from asset repossession to SARFAESI auction services, is executed flawlessly.
- Use of Automation and Technology: We leverage technology through our proprietary CRM system to provide real-time updates and best TAT in the industry, ensuring transparency and efficiency.
- Proven Track Record: With over a decade of experience in legal services under SARFAESI, our clients rely on our deep knowledge and expertise to resolve complex NPA cases quickly.
