Debt Recovery & Enforcement of Security Interest
We have a strong banking litigation practice having extensively advised on debt recovery and enforcement of security interest matters. The partners have represented and advised a large number of public sector banks & financial institutions; asset reconstruction companies (ARCs), rural banks, private banks, and foreign banks before various courts and tribunals in such matters. The partners have extensively advised on debt recovery, enforcement of security interest, recovery of contractual dues, liquidation proceedings, matters relating to assignment of debts and asset reconstruction. We regularly advise both Public Sector Banks and Financial Institutions as well as Private Banks, ARCs & AMCs
- Successfully represented United Bank of India at the Supreme Court of India with respect to notice issued against Kingfisher Airlines for declaring the airlines a wilful defaulter connection with UBI’s dues of Rs.400 crores.
- Represented Phoenix ARC with respect to assignment of debts of Rs. 120 crores from HSBC in a textile company.
- Successfully represented Kotak Mahindra Bank at the Supreme Court with respect to secured creditors’ rights to take action against lessees under the Securitization Act, 2002.
- Successfully represented United Bank of India in obtaining injunctions in liquidation proceedings against REI Agro, a listed company, with respect to the bank’s dues of Rs. 221 crores.