Skip to main content |Screen Reader Access

RFC

RRM-DIVISION

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)

 

 

Dy. Gen. Manager 
(RRMD)

 

 

 

 

 

MANAGER

 

 

 

 

 

Dy. Manager

 

 

 

 

 

Asstt. Manager

 

 

 

 

 

 

 

 

 

 

 

(ii)     THE POWERS & DUTIES OF ITS OFFICERS AND EMPLOYEES (a)      DELEGATION OF POWERS  SCHEDULE

S.No

Item

Authority Delegated

 

 

General

Joint Finance

I

Deferment and Postponement

 

Of principal & interest for one quarter only

BM

MD

II

Refixation

 

Disbursing Authority

BM

MD

III

Reshedulement

 

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

          Subsequent reschedulement(s)

GM(OPERATIONS]

MD

b)       Of Principal & Interest

GM(OPERATIONS]

MD

 -Reschedulement with extension in LDR upto 5 years.
* Reschedulement will be allowed on documented interest rate or prevailing interest rate whichever is higher.

GM(OPERATIONS]

MD

 iv

CRE Cases

 Deferment /Postponement/

 Refixation/

Reshedulement

MD

MD

V

Stoppage of Facilities

 

Declaring of unit as wilful defaulter

BM

MD

VI

Legal Action (in case of default)

.

.

 

A.      Closed Units

.

.

          a)       To issue notice u/s 30 of SFCs Act

.

.

                   i) Doubtful & Loss

BM

MD

                   ii) Other Categories

BM

MD

b)      i) To take over possession u/s 29 of SFCs Act

BM

MD

         ii) SC/ST

MD

MD

c)       To withdraw notice issue u/s 30 of SFCs Act

BM

MD

d)       To give back possession of assets taken over u/s 29 of SFCs Act

BM

MD

e)       To file application u/s 31 of SFCs Act

BM

MD

f)        To issue notice u/s 32G of SFCs Act

BM

MD

B.      Running Units

a)       To issue & withdraw notice u/s 30 of SFCs Act

BM

MD

b)       To take over possession u/s 29 of SFCs Act.

.

.

i)        Sanctioned loan upto Rs. 150 lakhs

BM

MD

ii)      Above Rs. 150 lakh

GM(OPERATIONS)

MD

iii)      SC/ST/Joint Finance

MD

MD

c)       To give back possession of assets u/s 29 of SFCs Act

BM

MD

d)       To file application u/s 31 of SFCs Act

BM

MD

e)       To issue notice* u/s 32G of SFCs Act

BM

MD

*Requisition of Demand to collector (Recovery)

DGM(R)

MD

VII

Grant of Charges

 

Pari Passu charge, 2 nd charge and subsequent charges over mortgage assets

.

.

a)       2 nd charge

BM

MD

b)       Pari-passu charge

GM(OPERATIONS)

MD

VII

Change in Constitution

.

.

 

(a)Field Offices

As per sanctioning authority

(b)At Headquarters

GM(OPERATIONS)

MD

IX

Mutual Sale

 

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

c)       Joint Finance Cases

-

MD

IX

Part Sale

BM

MD

 

Note: a)       Acceptable value will be equivalent to the MRV of the assets

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