{"id":104,"date":"2022-10-17T10:37:47","date_gmt":"2022-10-17T10:37:47","guid":{"rendered":"https:\/\/lawyer-india.com\/?p=104"},"modified":"2024-04-26T12:35:25","modified_gmt":"2024-04-26T12:35:25","slug":"debt-collection-in-india","status":"publish","type":"post","link":"https:\/\/lawyer-india.com\/debt-collection-in-india\/","title":{"rendered":"Debt Collection in India"},"content":{"rendered":"\n

Debt collection in India<\/strong> is common between two businesses (B2B) when one of the companies fails to meet its obligations. Although most cases involve business to business situations, in some situations it may be needed to collect debts from a client (B2C).<\/p>\n\n\n\n

Our team of Indian lawyers<\/strong><\/a> answers some of the most common questions about recovering due debts in India and why it is helpful to work with a team of experts. In case you need to recover a debt<\/a><\/strong> in another country, for example in Poland, we recommend our partners – DebtCollectionPoland.eu.<\/strong><\/p>\n\n\n\n

We can also give you details about immigration to India<\/strong><\/a>. <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 Quick Facts<\/th>\n <\/th>\n<\/tr>\n<\/thead>\n
 Applicable law<\/td>\nThe Financial Institutions Act, the Insolvency and Bankruptcy Code, the Consumer Protection Act, and others <\/td>\n<\/tr>\n
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Other specific regulations that apply (Yes\/No) <\/p>\n<\/td>\n

 Certain regulations on the limitations on debt recovery.<\/td>\n<\/tr>\n
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Types of debts that can be recovered in India <\/p>\n<\/td>\n

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Examples include debts from contractual relations, unpaid private loans, credit cards, bills, uncollected goods, etc. <\/p>\n<\/td>\n<\/tr>\n

 Recovery period<\/td>\nGenerally 3 years <\/td>\n<\/tr>\n
 Court proceedings<\/td>\n\n

Complaints filed as per the Civil Procedure Code <\/p>\n<\/td>\n<\/tr>\n

 When to commence court debt collection<\/td>\n\n

Typically when amicable recovery yielded no results <\/p>\n<\/td>\n<\/tr>\n

The Court in charge of debt collection in India <\/td>\n\n

The Debts recovery Tribunals and Appellate Tribunal <\/p>\n<\/td>\n<\/tr>\n

 Number of debts recovery tribunals<\/td>\n\n

Presently, 39 such tribunals and 5 appellate courts <\/p>\n<\/td>\n<\/tr>\n

 Debt collection court proceedings duration in India<\/td>\n\n

Varies depending on the type of debt collection <\/p>\n<\/td>\n<\/tr>\n

 Amicable debt collection option<\/td>\nYes <\/td>\n<\/tr>\n
 Amicable debt collection duration<\/td>\n\n

Can be shorter than court collection <\/p>\n<\/td>\n<\/tr>\n

Foreign court debt collection order recognition <\/td>\n\n

Usually by filing an execution petition, subject to conditions. <\/p>\n<\/td>\n<\/tr>\n

 Debt collection agency is commonly used (Yes\/No)<\/td>\n\n

 Yes<\/p>\n<\/td>\n<\/tr>\n

 Services offered by a debt collection agency<\/td>\n\n

 Domestic debt collection, amicable debt collection and, as needed, court procedures commencement, representation and handling.<\/p>\n<\/td>\n<\/tr>\n

 Legal representation for debt collection<\/td>\nUpon request, offered by our experienced lawyers in India. <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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