Our office
Borrowers facing a SARFAESI notice, lenders recovering secured debt, and policyholders whose claims have been rejected all deal with the same reality: the financial institution has a process, and it runs on strict timelines whether or not the other side responds.
We act for borrowers, guarantors, lenders and policyholders before the Debt Recovery Tribunals in Kolkata, the Debts Recovery Appellate Tribunal, the banking and insurance ombudsmen and the High Court.
What we handle
- Replies to SARFAESI demand notices and objections
- Securitisation applications and recovery proceedings before the DRT
- Loan restructuring and one-time settlement negotiations
- Guarantor liability and personal insolvency matters
- Complaints under the RBI Integrated Ombudsman Scheme
- Insurance claim rejections: health, life, motor, fire and marine
- Insurance Ombudsman and consumer commission proceedings
Frequently asked questions
A notice under section 13(2) of the SARFAESI Act gives sixty days to pay. Within that period the borrower can send a representation or objection, which the bank must consider and reply to. If the bank then takes possession or other measures, the borrower can apply to the Debt Recovery Tribunal under section 17 within forty-five days.
The complaint must first be made to the bank or regulated entity. If it is rejected or not resolved within thirty days, a complaint can be filed online under the RBI Integrated Ombudsman Scheme, generally within one year of the bank's reply.
After a written complaint to the insurer's grievance cell, the policyholder can approach the Insurance Ombudsman for claims up to fifty lakh rupees, or the consumer commission. The Ombudsman route is free and generally faster; the consumer commission allows larger claims and compensation.
This page describes the law and procedure generally applicable in West Bengal. It is not legal advice on any particular matter; every matter turns on its own facts.