RECOVERY OF OUTSTANDING

ASSISTANCE IN RECOVERY OF OUTSTANDING

Assistance in Recovery Of Outstanding- In any business or commercial transactions, an individual unable to make the payment that needs to be paid within the specified time limit, then such amount will be recovered. In the case of banks, banks will recover loan amounts or EMIs when a person fails to pay his/her loan or EMI. If an individual failed to pay income tax, then the IT department will recover the entire outstanding amounts which need to be paid.

In case of any settlement in the outstanding amount by the company, parties will negotiate and settle the amount to a certain percentage agreed to both of them. If any individual is liable to pay the amount legally, he/she cannot escape; they are bound to pay the outstanding amount. The Government of India enacted the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 to recover the outstanding amount.

LetsComply is a full-service law firm and is the best platform for all your Legal, Finance and Taxation needs. Letscomply is one of the leading law firms in India and having a team comprises of Corporate Lawyers, Company Secretaries, Chartered Accountants, Cost Accountants, IP Attorneys, and Management Experts with rich experience in their respective filed. We believe in long-term alliances for mutual growth.

For more information, please contact us on info@letscomply.com or call us Mb. No.97178 22448 Ph. No.011-42662177/78/79.

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