Indian Law offices

PowerPoint Presentation: 

ASSET RECONSTRUCTION PROCESS AND COMPANIES Introduction: India Law Offices Internationally several models have been adopted by various countries. The Asset Management Company (AMC) or Asset Reconstruction Company (ARC) was adopted in various Asian countries with a view to separate management of Non Performing Assets of Bank. In India, Asset Reconstruction Companies were initially sponsored by the bankers however later private sector has also been involved. Now in India, Asset Reconstruction Companies are in both public as well as private sector.

Non Performing Assets:: 

Non Performing Assets: The prudent norms on income recognition issued by the RBI defined NPA as: Interest and / or installment of principal remain overdue for a period of more than 90 days in respect of a term Loan. The account remains out of order for a period of more than 90 days, in respect of an Overdraft / Cash Credit. The bill remains overdue for a period of more than 90 days in case of the bill purchase and discounted. Interest and / or installment of principal remain overdue for two harvest season but for a period not exceeding two half years in the case of an advance granted for agricultural purpose. Any amount to be received remains over-due for a period of more than 90 days in respect of the other accounts. Delhi Law Firm , Mumbai Law Firm , Chennai Law Firm