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The Narasimham Committee report and the recent East- Asian crisis has necessitated reforms in the banking and financial sector in India. This fact has also been recognized by the Hon’ble Apex Court in the Mardia Chemicals Case while upholding the constitutionality of the Securitisation And Reconstruction of Financial Assets and Enforcement of Security Interest Act-2002 (SARFAESI).

The high level of Non-Performing Assets (NPAs) in our domestic banks is a cause for continued concern. Efficient and effective mechanisms for recovery of bank dues are critically important for reducing NPAs. Comprehensive amendments have been carried out to the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 by issue of Ordinance. Five more Debt Recovery Tribunals (DRT) and four more Debt Recovery Appellate Tribunals have been set up or are in advanced stage of being set up.

Our range of services under the present domain interalia includes: -
Ø Compliances under the Banking Regulation Act-1949 and under various policies and guidelines issued by RBI from time to time
Ø Asset securitization/Debt recovery Laws
Ø Project Financing
Ø Pre credit Approvals (title search and other legal compliances needed before extending credit to any customer)
Ø Forex Laws (compliances under FERA and FEMA)

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