At the time of execution of powers under the SARFAESI Act, we provide all types of professional services at different stages
Preparing the Demand Notice i.e., u/s 13(2), and serving it.
Re Serving of Demand Notice which returns undelivered.
Taking possession, with assisting Authorized Officer Preparing inventory and Panchanama, preservation and protection, safe guarding of secured assets. if mortgaged assets are vacant.
Assisting Panel Valuer Valuation of such secured assets.
Obtaining orders from the Chief Metropolitan Magistrate / Chief Judicial Magistrate /District Magistrate for eviction orders.
Scout buyers for Sale of Assets through the public E- auction, Tender Auction or Private treaty.
To serve Demand Notice issued by the Bank to its borrowers/guarantors individually by personally delivering the same to each of the borrowers/guarantors and getting the copy of the demand notice duly acknowledged.
In case the borrowers/guarantors have vacated/left the place as per the address provided by the Bank, we will utilize our investigation services to locate the whereabouts of such borrowers/guarantors and shall serve the notice at the place of such re-located address to them.
Before taking over the possession of the property is we conduct an intensive pre inspection of the assets security for gauging the ground realities. We prepare the detailed report which aids us and the authorized officer to make arrangements and / or take further steps.
MARS Asset Reconstruction Services assists Bank officials at the time of taking possession of the secured asset by providing escort services to protect them and assist them in taking peaceful possession of the secured assets. We provide well- trained and well-turned-out security personnel having sufficient expertise to tackle and work under such circumstances including armed security guards/supervisors/and officers. we arrange police protection force to take forceful physical possession of the secured asset if mandated by the Bank’s Authorized Officer
Our experiences staff will assist the Bank officials at the time of taking inventory. If required, we can even prepare an inventory of goods and materials lying at the place of secured assets on behalf of the Bank officials while arranging and / or calling in the approved Valuers of the Authorities.
We will pre identify the mortgaged assets for upcoming valuation. Our representative/s will accompany the Bank approved Valuer at the time of valuation, if the Bank so requires, we can also arrange survey and demarcation by the Govt Surveyors.
Where the Borrower/Guarantor/Person in possession is not ready to part with the possession of the secured asset in a peaceful manner, if required, we obtain orders from the concerned Chief Metropolitan Magistrate / Chief Judicial magistrate / District Magistrate through our legal consultants. After obtaining such orders we follow-up with the same with the Office of the Deputy Commissioner Police / Superintendent of Police to request them to direct the concerned Station House Officer to provide the necessary police force/ police protection for taking peaceful possession of the secured asset/s.
We assist the Bank at the time of sale of such secured assets. We have conducted number of auctions on behalf of Banks /FI’s. We can arrange prospective buyers for such assets through our own sources. This will help the Bank in speedy and easy disposal of the secured asset/s
We have our Associate Security Agency which provides well trained, well-turned-out security personnel from Ex-Defense/Para-Military/NCC/Home-Guards and are educated Civilians selected from all-over the country, they are comparatively educated, moderately well paid and thoroughly trained and screened and apparently have less chance to become inefficient or disloyal. If the Bank/financial institution want to monitor the assets possessed, we do arrange for the same within 24 hours.
