1 Recovery policy matters - To deal with the policy matters with regards to recovery of Corporations dues.
2 PUC (32 g) - To monitor/ review the cases filed u/s 32(G).
3 Sale of units - To process and issue NIT's for sale of units.
4 Convene DRC meetings - To review the defaulting cases by convening DRC meeting.
5 Convene SLC meetings - To process the grievances of the borrowers through empowered settlement committees.
6 To monitor the progress of dishonoured cheques.
7 To monitor the progress of recovery on monthly basis.
8 To monitor the health code port-folio by issuing recovery strategy.
9 Property Identification out of state.
10 Proper implementation of Deemed Settlement Scheme
GENERAL MANAGER (DEVELOPMENT) / GENERAL MANAGER (OPERATIONS) |
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Dy. Gen. Manager |
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MANAGER |
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Dy. Manager |
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Asstt. Manager |
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(ii) THE POWERS & DUTIES OF ITS OFFICERS AND EMPLOYEES (a) DELEGATION OF POWERS SCHEDULE
S.No |
Item |
Authority Delegated |
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General |
Joint Finance |
I |
Deferment and Postponement |
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Of principal & interest for one quarter only |
BM |
MD |
II |
Refixation |
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Disbursing Authority |
BM |
MD |
III |
Reshedulement |
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a) Only of principal-1 st reschedulement with extn. in 2 yrs. LDR |
BM |
MD |
2 nd reschedulement (with extn. of original LDR upto 5 yrs. |
BM |
MD |
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Subsequent reschedulement(s) |
GM(OPERATIONS] |
MD |
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b) Of Principal & Interest |
GM(OPERATIONS] |
MD |
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-Reschedulement with extension in LDR upto 5 years. |
GM(OPERATIONS] |
MD |
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iv |
CRE Cases Deferment /Postponement/ Refixation/ Reshedulement |
MD |
MD |
V |
Stoppage of Facilities |
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Declaring of unit as wilful defaulter |
BM |
MD |
VI |
Legal Action (in case of default) |
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A. Closed Units |
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a) To issue notice u/s 30 of SFCs Act |
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i) Doubtful & Loss |
BM |
MD |
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ii) Other Categories |
BM |
MD |
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b) i) To take over possession u/s 29 of SFCs Act |
BM |
MD |
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ii) SC/ST |
MD |
MD |
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c) To withdraw notice issue u/s 30 of SFCs Act |
BM |
MD |
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d) To give back possession of assets taken over u/s 29 of SFCs Act |
BM |
MD |
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e) To file application u/s 31 of SFCs Act |
BM |
MD |
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f) To issue notice u/s 32G of SFCs Act |
BM |
MD |
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B. Running Units |
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a) To issue & withdraw notice u/s 30 of SFCs Act |
BM |
MD |
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b) To take over possession u/s 29 of SFCs Act. |
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i) Sanctioned loan upto Rs. 150 lakhs |
BM |
MD |
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ii) Above Rs. 150 lakh |
GM(OPERATIONS) |
MD |
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iii) SC/ST/Joint Finance |
MD |
MD |
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c) To give back possession of assets u/s 29 of SFCs Act |
BM |
MD |
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d) To file application u/s 31 of SFCs Act |
BM |
MD |
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e) To issue notice* u/s 32G of SFCs Act |
BM |
MD |
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*Requisition of Demand to collector (Recovery) |
DGM(R) |
MD |
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VII |
Grant of Charges |
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Pari Passu charge, 2 nd charge and subsequent charges over mortgage assets |
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a) 2 nd charge |
BM |
MD |
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b) Pari-passu charge |
GM(OPERATIONS) |
MD |
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VII |
Change in Constitution |
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(a)Field Offices |
As per sanctioning authority |
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(b)At Headquarters |
GM(OPERATIONS) |
MD |
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IX |
Mutual Sale |
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a) Cases in which balance outstanding in loan account of concern is upto Rs. 40 lakhs (as on date of mutual sale) |
BM |
MD |
b) Cases above Rs. 40.00 lakhs |
GM(OPERATIONS) |
MD |
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c) Joint Finance Cases |
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MD |
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IX |
Part Sale |
BM |
MD |
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Note: a) Acceptable value will be equivalent to the MRV of the assets |
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b) That by sale of part assets the feasibility and viability of the project will not impair. |
*DGM(Operations) is designated as DGM(R) for sending ROD(s) to Collectors
[b]DELEGATION OF POWERS REGARDING SALE OF UNITS UNDERPOSSESSION
Name of the Committee |
Headed by |
Scope of coverage |
Authority delegated |
1. BO Level Sale cum Negotiation Committee |
BM
DGM |
(i) For loan cases upto Rs.50.00 lacs if offer is equal to or more than 80% of MRV. (ii) For loan cases above Rs. 50.00 lac but upto Rs. 100.00 lacs if the offer is equal to or more than 80% of MRV |
Full powers for sale subject to fulfillment of criteria as per scope of coverage. |
2. HO Level Sale Committee |
ED |
For loan cases above Rs. 100 lacs, Company cases (under liquidation) and joint finance cases |
i) Full powers in respect of all cases irrespective of any limit. |
Note : i) As per State Govt. guidelines, the purchaser of the unit under possession shall not be liable to pay the dues of the State Govt. Deptts. i.e. Transport Deptt, Commercial Tax Deptt., Electricity Company, land & Building Tax Deptt, State Excise, PHED, Mining, Industries etc.
ii) The IPI Dues of RIICO would be payable by the purchaser.
(iv) Norms set for discharge of Follow-up, Recovery, Reconstruction and Rehabilitation functions
Powers regarding various matters relating to follow-up, recovery, reconstruction and rehabilitation have been delegated to various officers/ committees at Branch, DGM (Operation) and Head Office. The powers are available in the manual namely "Procedures and Guidelines." Nature and extent of norms relating to the above activities are available in schedule 3/1 of Chapter FR of Procedures and Guidelines. The system of reviewing defaulting cases is also in vogue through default review committees at Head Office and Branches. Likewise deficit, decreet and written-off/ written- back cases are monitored through Deficit Cases Review Meeting at Branch Level. Corporation also issues recovery strategy in the beginning of the each financial year. Circulars/ guidelines are also issued pertaining to follow-up, recovery, reconstruction and rehabilitation of the cases as and when special schemes/ norms are required to be prescribed