HOW TO RECOVER LOAN The recovery of the amounts due is a critical process and may vary customer to customer. The legal action may be taken at the last stage when all the conciliation efforts fail. Moreover, following are the steps which must be followed for recovery of the amounts due for effective recovery- 1) Conciliation- Conciliation is a very important part of the recovery and shall continue throughout the process of recovery. The conciliation effort may bear fruit even at the first visit to the customer or even after filing of legal cases against the customer. 2) First Come First Go- You need to maintain consistent contact with the customer and always remain available whenever customer calls you for collection of amounts due. The human tendency is that if creditor is in continuous contact for the collection of amounts due and maintaining relations with the customer, the said creditor shall always get first preference in the list of creditors of the customer for the refund of the amount due. One may come to know availability of the funds with the customer only when he/she is in continuous touch with the customer. So if you are reaching to the customer for the recovery when he has money well before any other financer/creditor you will be able to recover your amounts due from such customer without much pain. 3) Reminding the penalties, loan amount and terms of the Loan/debt to the customer- Always remind your customer about the terms of loan/business agreement and the charges which he/she/it will have to pay if he/she/it fails to pay/does not pay the loan amounts/debts due. The customer understands his business well and he can anticipate the effect of the penal interest, charges and penalties on his balance sheet and may pay the amounts immediately on availability of funds with him/her. 4) Compliance with Regulatory Requirement- Always follow the mandate given by regulatory bodies for the recovery of amounts due and ensure documentation as may be suggested. The said documentation will help you in recovery of amounts due during litigation. 5) Disclose all the options for repayment- First decide the options internally that may be given to the customer for repayment of the money and explain all the options to the said customer so that he may apprise the said options during the recovery process and take decision immediately. 6) Mediation from sales team- Sales teams of the organization always remain in touch with the customer and hence their mediation may help to some extent to make the customer understand the requirement of immediate repayment. 7) Legal Recourse- Explain the customer about the litigation that may be initiated as per the regulatory requirement/company requirement against the customer if it fails to pay the loan amounts/debt due and implication of such legal actions. The legal action may be initiated during the process of recovery and conciliation depending on regulatory requirement or depending on circumstances/requirement of the case or depending on the customer responses for the effective recovery of the amounts due.

Services Banks, Financial Institutions, NBFCs and ARCs have empanelled BFI as their Resolution, Enforcement and Recovery Agents. Services are rendered broadly under the following areas. Recovery of Bad Loans company is handling secured or unsecured NPAs ageing between one year to 30 years. Possession of Assets under SARFAESI Act Getting CMM orders/District Collector order for taking Physical Possession of the Assets Investigation / Skip Tracing Finding out the background and current status of the borrowers. Locating borrowers who have absconded Assessing Security Value of Mortgaged properties and other Assets Finding out the other outstanding statutory liabilities Collecting Information from the ROC Seizure of Vehicles company has seized number of tractors, commercial vehicles and cars, after observing the legal and attendant formalities Custodian BFI acts as custodian of seized / possession taken assets, and employs security guards to safeguard the assets, arranges insurance for the assets. Valuation BFI arranges for valuation of the assets through Govt. / Bank approved valuers. They also have liaison with the Registrar’s Office and other Govt. Departments to find out the Guideline value, obtention of Encumbrance Certificate, by effective relationship management. Establish contacts with the local brokers to know the Market Value of the assets, besides independent enquiries and assessments. Legal company is having expert legal network nation wide and attends to DRT, DRAT, High Court, Supreme Court, Company Law Board, BIFR, AIFR and other local Courts in all matters relating to recovery. In case of need, orders are obtained from the District Collector or the Chief Metropolitan Magistrate to take Physical Possession. Sale of Assets BFI arranges for sale of the properties mortgaged by Personal contacts, brokers, arranging spot camps, Advertisements, etc to get better value for the assets

Lalitha Traders Direct by MAJJI'S
Email :lalithatraders@reborn.com
cell : 7989993913 & 9949217621

When someone first sets up in business, he/she may have some unstated aims or objectives - for example to survive for the first year. Other businesses may wish to state exactly what they are aiming to do, such as Amazon, the Internet CD and bookseller, who wants to "make history and have fun".

An aim is where the business wants to go in the future, its goals. It is a statement of purpose, e.g. we want to grow the business into Europe.

Business objectives are the stated, measurable targets of how to achieve business aims. For instance, we want to achieve sales of €10 million in European markets in 2004.

A mission statement sets out the business vision and values that enables employees, managers, customers and even suppliers to understand the underlying basis for the actions of the business.

Business Objectives

Objectives give the business a clearly defined target. Plans can then be made to achieve these targets. This can motivate the employees. It also enables the business to measure the progress towards to its stated aims.

The most effective business objectives meet the following criteria:

S – Specific – objectives are aimed at what the business does, e.g. a hotel might have an objective of filling 60% of its beds a night during October, an objective specific to that business.

M - Measurable – the business can put a value to the objective, e.g. €10,000 in sales in the next half year of trading.

A - Agreed by all those concerned in trying to achieve the objective.

R - Realistic – the objective should be challenging, but it should also be able to be achieved by the resources available.

T- Time specific – they have a time limit of when the objective should be achieved, e.g. by the end of the year.

Alternative Aims and Objectives

Not all businesses seek profit or growth. Some organisations have alternative objectives.

Examples of other objectives:

Ethical and socially responsible objectives – organisations like the Co-op or the Body Shop have objectives which are based on their beliefs on how one should treat the environment and people who are less fortunate.

Public sector corporations are run to not only generate a profit but provide a service to the public. This service will need to meet the needs of the less well off in society or help improve the ability of the economy to function: e.g. cheap and accessible transport service.

Sudhakara rao majji