IFCI employs focused, multi–pronged strategies to recover its dues from Non Performing Assets. The strategies employed by IFCI are enumerated as below:
Enforcement of security interest in accordance with the provisions of SARFAESI Act.
Taking Legal Recourse ⁄ recovery measures under statutory provisions including filing of Original Application before the DRT and filing of petition for winding up of a company before the High Court.
Settlement of dues payable by borrower(s) ⁄ co-obligant.
The above strategies are employed in conjunction to augment our capacity to ensure maximum recovery of public money.
A recent method adopted by IFCI to invigorate its NPA portfolio is conducting the sale of NPAs on both SR basis and cash basis. In terms of the guidelines issued by RBI, IFCI has undertaken the sale of NPAs to Securitization Companies/Banks/ Financial Institutions to reduce the concentration of NPAs and in turn devote our focus to chronic NPAs.
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