Global economic slowdown has the ramifications in reduction of liquidity throughout the world and has resulted in current depressive market conditions. In the present scenario banking transactions have become more diverse in their nature and their domestic and international scope. Because of recent events there is wise in banking activity in emerging markets and businesses are getting more and more successful in cross-border banking deals.
In the global economic climate in which businesses operate today, businesses must find efficient methods to structure and execute a financing deal. Our experienced and expert team of lawyers in Chandigarh provides legal advice when clients plan new financing or when clients have to choose between diverse refinancing options or even when clients need to restructure existing financial requirements. We also offer profitable advice to both lenders and borrowers.
SimranLaw is one of the most talked about banking practices in India. Our corporate law firm in Chandigarh provides legal advice related to banking and other financial issues including innovative lending transactions, secured and unsecured transactions available to the clients. We also advice companies on bank products and credit products available in diverse jurisdictions. We assist clients in dealing with structural issues and advise clients on the choice of alternatives available to them.
Our law firm in Chandigarh has experience in legally representing both borrowers and lenders. Our clients who have borrowed from banks come from a broad range of industrial areas including sectors with high government intervention and regulatory issues. Our clients who lend include banking groups, insurance companies and domestic and international financial institutions.
Our deep knowledge of banking sector and global reach of our law firm in Chandigarh combined with our long experience in handling complex banking legalities leads to successful results and high level of client satisfaction.
Lawyers for Debt Recovery Tribunal (DRT)
Chandigarh has Debt Recovery Tribunals (DRT) for Punjab, Haryana and UT-Chandigarh. SimranLaw is reputed for legal approach to banking transactions which is focused on solutions. Our law firm is known for its collaborative practical mindset. We are passionate and committed to our clients in their banking and financial issues and DRT/debt recovery tribunal matters.
In DRT, we represent banks, financial institutions insurance companies and mortgage companies. We provide a range of legal services in relation to corporate and regulatory matters including company formations, incorporation and restructurings, development of financial products and services, anti-money laundering legal compliance, corporate governance issues, legalities in relation to information technology, business process outsourcing, legal process outsourcing and knowledge process outsourcing.
We prepare and review applications and legal notices in relation to banking and financial activities. We give legal advice to financial institutions in regard to their capital requirements, initial public offerings, public finance and structured finance.
We also provide legal assistance to financial institutions in relation to complex regulatory and statutory provisions which affect domestic and international finance houses. Our lawyers in Chandigarh provide services in relation to technology outsourcing agreements and similar contracts relating to banking and financial institutions.
Our law firm deals with Cases Relating to Debt Recovery Tribunal DRT, Securitization Act, NCLT, and provide exceptional services in debt recovery tribunals of Punjab Haryana and Chandigarh situated in Chandigarh. Our law firm also drafts petitions and cases to be filed by the clients in debt recovery tribunals outside Punjab and and Chandigarh. We provide useful advice to article guarantors, advice in relation to RBI guidelines, section 138 of negotiable instruments act, latest laws in relation to recovery and bank guarantee, banking laws, claims and counter claims, matters relation to BIFR et cetera.
We also provide advice to lawyers and advocates conducting cases in debt recovery tribunals in Chandigarh and outside Chandigarh. We advise lawyers and prospective clients to discuss the case personally in our office. We also prepare and draft pleadings of debt recovery tribunal cases with an aim to get maximum relief against the banks and banking officials.
Our lawyers in Chandigarh understand that in all the cases relating to debt and banking laws, debtors are not at fault. Many a times banking officials are highly corrupt and mislead debtors. In such situations, debtors are actually the victims of the system. We provide them relief from this one-sided and biased system of debt recovery. When a person comes to us complaining of the action taken by the banking officials against him, we listened to him with patience and tell him what relief he can expect. We are quick to answer calls and hardly any call made to as go unanswered.
We provide clear instructions as to the costs of litigation in the time which might be taken in the process. Our lawyers have deep knowledge about the industry, financing and banking sector and prevailing industry sickness in India. We are aware of the procedure to file a case in Debt Recovery Tribunal and what to do in case the client wishes to file an appeal in the appellate DRT. We filed numerous counterclaims, provided expert advice on RBI guidelines and conducted innumerable cases in civil courts in relation to loft torts (loft damages and compensation).
In case the client is situated in other parts of the country, for example Maharashtra and Gujarat, we can prepare petitions which can be used by lawyers in Maharashtra and Gujarat.
In one of the cases in Chandigarh, with contested the case in Debt Recovery Tribunal, against two banks where an amount of Rs. 80 crore except interest part was pending. We had made several representations and had objected that the banks could not declare our accounts as NPA and had also applied for inspection of documents in the banks. This was a heavily contested litigation. This was one of those cases in which the banks did all they could to achieve a victory but failed. We also filed a civil case against the banks for damages which is still in court. After victory in such cases, we are sure that although the laws are biased towards banks, everything is not lost. A determined debtor can win cases against banks. One only has to realise that the power is still with an independent thinking citizen of our democratic country.
To give a proper legal advice, we will need all the documents in relation to your case. It is to be noted that a counterclaim in debt recovery tribunals has to be drafted beforehand so that it can be used immediately in the court to safeguard those securities which a person has deposited with banks.