Debt Recovery and Collection of Dues
Strategic Debt Recovery & Collection of Moneys Due
Corpolit & Co. LLP provides robust legal services for both creditors and debtors in navigating the complexities of debt recovery and money collection in India. We understand that efficient debt realization is crucial for financial health, while debtors require fair and legally compliant processes. Our firm offers expert legal guidance and tenacious representation, leveraging various legal mechanisms to achieve timely and effective resolution of outstanding dues.
Comprehensive Debt Recovery & Collection Services
Corpolit & Co. LLP offers a full spectrum of services in debt recovery and money collection, providing strategic guidance and robust representation designed to maximize recovery for creditors and facilitate fair settlements for debtors. Our capabilities encompass:
- Commercial Debt Recovery:
- Initiating civil suits for recovery of money based on contracts, invoices and other commercial dealings before Commercial Courts and relevant Civil Courts.
- Filing Summary Suits under Order XXXVII of the Code of Civil Procedure, 1908, for expeditious recovery of liquidated demands arising from written contracts, bills of exchange, promissory notes, etc.
- Issuance of legal notices and demand letters to debtors.
- Recovery for Banks & Financial Institutions:
- Representing banks and financial institutions in recovery proceedings for debts exceeding ₹20 Lakhs before the Debts Recovery Tribunals (DRTs) established under the Recovery of Debts and Bankruptcy Act, 1993.
- Handling appeals against DRT orders before the Debts Recovery Appellate Tribunals (DRATs).
- Advising on and initiating proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, for enforcement of security interests without court intervention, including asset possession and sale.
- Cheque & EMI Bounce Cases:
- Initiating criminal complaints under Section 138 of the Negotiable Instruments Act, 1881, for dishonour of cheques and equated monthly installments (EMIs), including drafting and serving legal notices and representation before Magistrate Courts.
- Insolvency & Bankruptcy Proceedings:
- Representing financial and operational creditors in initiating Corporate Insolvency Resolution Process (CIRP) against defaulting corporate debtors before the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (IBC).
- Advising on resolution plans and representing clients in liquidation proceedings under the IBC.
- Enforcement of Decrees & Awards:
- Executing decrees passed by Civil Courts, Commercial Courts and orders/recovery certificates issued by DRTs.
- Enforcing arbitral awards for money recovery through relevant court procedures.
Your Trusted Partner in Financial Realization
At Corpolit & Co. LLP, we understand the critical role of timely debt recovery in maintaining healthy cash flow and business viability. We are committed to providing clear, practical advice and strategic representation, employing all legally permissible avenues to recover outstanding dues for our clients. Whether through direct negotiation, summary proceedings, or specialized tribunals, our team is dedicated to securing favorable outcomes efficiently and effectively.
