MITCON Consultancy Services Ltd. (MITCON), formerly Maharashtra Industrial and Technical Consultancy Services Ltd., was incorporated in 1982 as a joint venture promoted by All-India Financial Institutions, State Development Corporations and Public Sector Banks to provide technical and other consultancy services to the Banks / FIs, industry and services sectors in the states of Maharashtra and Goa. Over the period of last 25 years, MITCON has extended its services in the fields of Energy, IT, Environment, Global Business, Market Research, Agriculture and Agro-based Industries, Bio-Technology, Ethanol, Training, Business Management Education, Sugar Industry and Financial Services Industry.
MITCON is the leading Agency assisting the Banks / FIs - big & small - in effective implementation of the provisions of the SARFAESI Act,2002 and handling recovery / court and appraisal of loans related assignments on behalf of the Banks / FIs. These activities are carried out by the Securitization & Financial Restructuring Division of MITCON.
The Division is empanelled with almost all the Public Sector Banks and FIs as Enforcement Agency such as State Bank of India, Punjab National Bank, Bank of India, Central Bank of India, Union Bank of India, State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore, UCO Bank, Exim Bank, Syndicate Bank, Bank of Maharashtra, Bank of India, Indian Overseas Bank, J & K Bank, Oriental Bank of Commerce, Bank of Baroda, Vijaya Bank, Indian Bank, Dena Bank, Private Sector Banks like ICICI Bank Ltd., AXIS Bank Ltd. and Co-operative Banks like The Shamrao Vithal, Rupee, Bharati and Financial Institutions / Banks like IDBIL, IFCI, ICICI, TFCI, GSFC and KSFC. In addition, the Division is empanelled with Asset Reconstruction Companies like ARCIL, ASREC, IARC.
The Division is also operating as `Enforcement Agency’ for Housing Finance Companies for assistance in actions under the SARFAESI Act.
This Division was established in September 2002. The main objective of the Division is to assist the Banks and Financial Institutions in implementing the provisions of “The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002”. The Government felt the need for this legislation for giving more powers to the Banks and Financial Institutions for recovery of their dues from the NP Accounts; outstanding dues in which had assumed serious proportions and the Banks were helpless because the then existing mechanism of recovery through Courts and even the Debt Recovery Tribunals was proving to be ineffective because of the large number of pending cases in these courts & tribunals. Further, the Banks / FIs were procedurally unaware and temperamentally not prepared to take such stringent measures and needed the services of competent outside agencies to help them implement the provisions of the Act to make an impact on the possession of their NPAs.
Broad Categories of Services Offered to assist the Banks / FIs in implementing the provisions of SARFAESI Act 2002 are as under
In addition, this Division carries out the following activities –
In addition, this Division carries out a number of diverse activities for the Banks / FIs / ARCs. Any service needed by the Banks / FIs / ARCs is arranged and provided by this Division.
This includes acting as Custodian of the assets taken in possession, arranging security for these assets, appointing Observers or Agents to run the plants taken in possession etc. In short, any thing and every thing that is needed by a Bank / FI is provided at their door steps.
All our staff is highly trained and experienced having in the business of takeover of units and their disposal and also in dealing with winding up cases by virtue of their long standing association of over 30 years with a State Level Financial Institution at senior positions. They have also undergone mandatory 100 hours training and also passed the examinations conducted by Indian Institute of Banking & Finance.
Sr.
No.
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Particulars
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Details
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|||||||||||
1
|
Name of the Company
|
MITCON Consultancy Services Ltd
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2
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Broad Category of Services Offered
to assist the Banks / FIs in implementing the provisions of SARFAESI Act 2002
|
1. To carry
out due diligence study of the Bank's record including documentation in
respect of the properties charged and surveying the assets proposed for takeover
from logistics points of view.
|
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|
2. To take
possession (physical / symbolic) as an agent of the Authorized Officer, in
accordance with the procedure laid down under the rules and assist the A.O.
in takeover of secured assets as per the procedure and formats prescribed in
the Reules framed under SARFAESI Act.
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3. To make application before
the Hon'ble Dist. Magistrate / Chief Metropolitan
Magistrate and obtain order for possession, if necessary i.e. in case there
is any problem in taking over physical possession otherwise.
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|
4. To assist the Authorized Of the Bank/FI to issue various
communications to the borrowers/guarantors /mortgagors under provisions of
the act and rules framed thereunder and or to reply
to the communications / notices received from the borrowers / guarantors, or
on their behalf, from their advocates.
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5. To
arrange for sale of the assets as per any of the modes prescribed, receive
sale proceeds, issue sale certificate and complete all other necessary
formalities prescribed. This job includes drafting suitable advertisement
(s), fixing Reserve Price in consultation with the Bank's Authorized
Officials, preparing / finalizing tender documents, arranging inspections of
the assets, receiving bids, scrutinizing the same, short-listing them,
holding negotiations with the bidders, making suitable recommendations to the
Bank etc.
Assist the Bank / FI in obtaining payments,
issuing sale certificates and completing the documentation.
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6. To
appoint and brief the advocates on behalf of the Bank / FI in case a case is
filed in DRT / High Court / any other Court against the Bank / FI
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7. To
investigate the background and assets of the borrowers / guarantors or their
heirs.
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8. Appraisal
of projects.
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9. To
arrange for valuation and fix Reserve Price as per procedure
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10. To
act as `Custodian’ of the assets.
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3
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Correspondence Address
|
“Krupanidhi”, Ground
Floor, 9, Walchand Hirachand Marg,
Ballard
Estate, Mumbai 400 001
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4
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State
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Maharashtra
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5
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Country
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India
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6
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Telephone Number
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022 22624810, 2262 6524,
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7
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Tele Fax Number
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22612594
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8
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Contact Person
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Name S.G.Pawar
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Designation Chief Operating Officer
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Telephone No 9820029775
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E-mail : mitcon_mumbai@rediffmail.com /
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9
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Service Profile As per enclosed list
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||||||||||||
|
Broad Category
|
Services Offered
|
Major Assignments
|
||||||||||
a)
|
To assist the Banks / FIs
in imple-menting the
provisions of SARFAESI Act 2002
|
Sr No
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Service
|
Sr No
|
Company
|
Assignment Details
|
|||||||
|
1
|
To
carry out Due Diligence Study before takeover of
the
asset
|
1.1
|
CBI
|
62
|
||||||||
|
|
1.2
|
PNB
|
20
|
|||||||||
|
|
1.3
|
IDBI
|
17
|
|||||||||
|
|
1.4
|
SVC Bank
|
42
|
|||||||||
|
|
1.5
|
BOM
|
110
|
|||||||||
|
|
1.6
|
Rupee Bank
|
60
|
|||||||||
|
|
1.7
|
Shikshak Sahakari Bank
|
10
|
|||||||||
|
|
1.8
|
UCO Bank
|
7
|
|||||||||
|
|
1.9
|
ICICI Bank
|
6
|
|||||||||
|
|
1.10
|
Exim Bank
|
7
|
|||||||||
|
|
1.11
|
BOI
|
16
|
|||||||||
|
|
1.12
|
Citizen Co-op
|
7
|
|||||||||
|
|
1.13
|
Citizen Credit
|
12
|
|||||||||
|
|
1.14
|
Annasaheb Karale
|
10
|
|||||||||
|
|
1.15
|
Veershaiv
|
10
|
|||||||||
|
|
1.16
|
Bharati Sahakari
|
7
|
|||||||||
|
|
1.17
|
Palus Sahakari
|
7
|
|||||||||
|
|
1.18
|
HDFC
|
600
|
|||||||||
|
|
1.19
|
LICHFL
|
55
|
|||||||||
|
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1.20
|
13 other Banks/FI
|
50
|
|||||||||
|
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|
1.21
|
Arcil
|
30
|
||||||||
|
|
|
1.22
|
Indian Overseas
|
2
|
||||||||
|
|
|
1.23
|
Ichalkaranji Sahakari Bank Ltd.
|
10
|
||||||||
|
|
|
1.24
|
Bharati Sahakari
|
9
|
||||||||
|
|
|
1.25
|
SBI
|
75
|
||||||||
|
|
|
1.26
|
SBP
|
30
|
||||||||
|
|
|
1.27
|
BOB
|
1
|
||||||||
|
|
|
1.28
|
SBH
|
45
|
||||||||
|
|
|
1.29
|
SBT
|
22
|
||||||||
|
|
|
1.30
|
AXIS Bank
|
20
|
||||||||
|
|
|
Total
:
|
13
59
|
|||||||||
|
|
|
|
|
|||||||||
|
|
2
|
To
assist the Authorized Officer of the Bank/FI to take over the secured assets
and also take inventory and carry out valuations of the assets and fix
Reserve Price
|
2.1
|
CBI
|
40
|
|||||||
|
|
|
2.2
|
PNB
|
15
|
||||||||
|
|
|
2.3
|
IDBI
|
11
|
||||||||
|
|
|
2.4
|
SVC Bank
|
40
|
||||||||
|
|
|
2.5
|
BOM
|
25
|
||||||||
|
|
|
2.6
|
Rupee Bank
|
40
|
||||||||
|
|
2.7
|
Shikshak Sahakari Bank
|
6
|
|||||||||
|
|
2.8
|
UCO Bank
|
5
|
|||||||||
|
|
2.9
|
ICICI Bank
|
1
|
|||||||||
|
|
|
2.10
|
Exim Bank
|
4
|
||||||||
|
|
|
2.11
|
BOI
|
10
|
||||||||
|
|
|
2.12
|
Citizen Co-op
|
10
|
||||||||
|
|
|
2.13
|
Citizen Credit
|
8
|
||||||||
|
|
|
2.14
|
Annasaheb Karale
|
4
|
||||||||
|
|
|
2.15
|
Veershaiv
|
4
|
||||||||
|
|
|
2.16
|
Kolhapur Urban
|
6
|
||||||||
|
|
|
2.17
|
Palus Sahakari
|
3
|
||||||||
|
|
|
2.18
|
8 other Banks/FI
|
17
|
||||||||
|
|
|
2.19
|
Arcil
|
25
|
||||||||
|
|
|
2.20
|
HDFC
|
430
|
||||||||
|
|
|
2.21
|
LICHFL
|
3
|
||||||||
|
|
|
2.24
|
Kalyan Janata
|
6
|
||||||||
|
|
|
2.25
|
SBI
|
40
|
||||||||
|
|
|
2.26
|
SBP
|
25
|
||||||||
|
|
|
2.27
|
BOB
|
1
|
||||||||
|
|
|
2.28
|
SBH
|
10
|
||||||||
|
|
|
2.29
|
AXIS Bank
|
12
|
||||||||
|
|
|
Total
:
|
801
|
|||||||||
|
|
3
|
To
effect a compromise deal
|
3.1
|
CBI
|
20
|
|||||||
|
|
|
3.2
|
BOM
|
10
|
||||||||
|
|
|
3.3
|
UCO
|
3
|
||||||||
|
|
|
3.4
|
Citizen Bank
|
3
|
||||||||
|
|
|
3.5
|
Rupee Bank
|
23
|
||||||||
|
|
|
3.6
|
SVC
|
25
|
||||||||
|
|
|
3.7
|
Shikshak Sahakari
|
2
|
||||||||
|
|
|
3.8
|
HDFC
|
60
|
||||||||
|
|
|
3.9
|
Kalyan Janata
|
3
|
||||||||
|
|
|
3.10
|
Syndicate Bank
|
1
|
||||||||
|
|
|
3.11
|
SBH
|
8
|
||||||||
|
|
|
3.12
|
AXIS Bank
|
5
|
||||||||
|
|
|
Total :
|
163
|
|||||||||
|
|
4
|
Sale
of Assets
|
4.1
|
CBI
|
20
|
|||||||
|
|
|
4.2
|
BOM
|
15
|
||||||||
|
|
|
4.3
|
UCO
|
3
|
||||||||
|
|
|
4.4
|
SVC
|
18
|
||||||||
|
|
|
4.5
|
IDBI
|
2
|
||||||||
|
|
|
4.6
|
Rupee
|
15
|
||||||||
|
|
|
4.7
|
Kalyan Janata
|
2
|
||||||||
|
|
|
4.8
|
HDFC
|
171
|
||||||||
|
|
|
4.9
|
Exim Bank
|
4
|
||||||||
|
|
|
4.10
|
LICHFL
|
2
|
||||||||
|
|
|
4.11
|
Under process
|
127
|
||||||||
|
|
|
4.12
|
SBH
|
20
|
||||||||
|
|
|
4.13
|
SBT
|
12
|
||||||||
|
|
|
4.14
|
AXIS Bank
|
8
|
||||||||
|
|
|
Total :
|
419
|
|||||||||
|
|
5
|
Application
with CMM/DM
|
5.1
|
CBI
|
12
|
|||||||
|
|
|
5.2
|
UCO
|
2
|
||||||||
|
|
|
5.3
|
6 other Banks
|
28
|
||||||||
|
|
|
5.4
|
HDFC
|
20
|
||||||||
|
|
|
5.5
|
AXIS Bank
|
10
|
||||||||
|
|
|
Total :
|
72
|
|||||||||
|
|
6
|
Investigation
of assets of guarantors/ legal heirs
|
6.1
|
SBI
|
15
|
|||||||
|
|
|
6.2
|
HSBC
|
2
|
||||||||
|
|
|
6.3
|
SIDBI
|
2
|
||||||||
|
|
|
6.4
|
ICICI
|
2
|
||||||||
|
|
|
6.5
|
KSFC
|
1
|
||||||||
|
|
|
6.6
|
LICHFL
|
6
|
||||||||
|
|
|
6.7
|
6 other Banks
|
30
|
||||||||
|
|
|
6.8
|
BOB
|
1
|
||||||||
|
|
|
6.9
|
AXIS Bank
|
18
|
||||||||
|
|
|
Total :
|
77
|
|||||||||
|
|
7
|
To assist the Authorized Officer of the Bank/FI in
briefing the advocates of the
Bank/FI in case any case is filed in the court against the Bank/FI &
drafting replies to the Advocate’s letters and party’s letters.
|
7.1
|
Kalyan Janata
|
4
|
|||||||
|
|
|
7.2
|
Ichalkaranji Bank
|
3
|
||||||||
|
|
|
7.3
|
Citizen Co-op.
|
1
|
||||||||
|
|
|
7.4
|
Rupee Co-op. Bank Ltd.
|
13
|
||||||||
|
|
|
7.5
|
CitizenCredit
Co-op. Bank
Ltd.
|
5
|
||||||||
|
|
|
7.6
|
HDFC
|
10
|
||||||||
|
|
|
Total :
|
36
|
|||||||||
|
|
|
|
|
|||||||||
|
|
8
|
To
carry out valuation of the secured assets
-
Only & exclusive valuation assignments -
|
8.1
|
IDBI
|
14
|
|||||||
|
|
|
8.2
|
BOM
|
8
|
||||||||
|
|
|
8.3
|
UCO
|
1
|
||||||||
|
|
|
8.4
|
TFCI
|
1
|
||||||||
|
|
|
8.5
|
ARCIL
|
20
|
||||||||
|
|
|
8.6
|
HDFC
|
60
|
||||||||
|
|
|
8.6
|
ASREC
|
92
|
||||||||
|
|
|
8.7
|
EXIM BANK
|
1
|
||||||||
|
|
|
8.8
|
SVC
|
14
|
||||||||
|
|
|
8.9
|
RUPEE
|
18
|
||||||||
|
|
|
|
8.10
|
AXIS Bank
|
10
|
|||||||
|
|
|
Total :
|
239
|
|||||||||
9
|
Location of Offices (Detail Address & contact
number can be given in separate annexure
|
Separate Sheet enclosed
|
|||||||||||
10
|
Geographical coverage for services offered
|
Sr No
|
States in India
|
||||||||||
|
1
|
Maharashtra
|
|||||||||||
|
2
|
Goa
|
|||||||||||
|
3
|
Gujarat
|
|||||||||||
|
4
|
Karnataka
|
|||||||||||
11
|
Empanelled with
|
Sr No
|
Name of the Bank/FI
|
Empanelled as `
|
|||||||||
|
|||||||||||||
1
|
Central Bank of India
|
`Enforcement Agent’
|
|||||||||||
2
|
Punjab National Bank
|
`Enforcement Agent’
|
|||||||||||
3
|
UCO Bank
|
`Enforcement Agent’
|
|||||||||||
4
|
Bank of Maharashtra
|
`Enforcement Agent’
|
|||||||||||
5
|
State Bank of India
|
`Enforcement Agent’
|
|||||||||||
6
|
Bank of India
|
`Enforcement Agent’
|
|||||||||||
7
|
Syndicate Bank
|
`Enforcement Agent’
|
|||||||||||
8
|
Rupee Co-op. Bank Ltd.
|
`Enforcement Agent’
|
|||||||||||
9
|
Indian Overseas Bank
|
`Enforcement Agent’
|
|||||||||||
10
|
Kalyan Janata Sahakari Bank Ltd.
|
`Enforcement Agent’
|
|||||||||||
11
|
Shamrao Vithal Co-op. Bank Ltd.
|
`Enforcement Agent’
|
|||||||||||
|
|
12
|
The United Western Bank Ltd.
|
`Enforcement Agent’
|
|||||||||
|
|
13
|
CitizenCredit Co-op. Bank Ltd.
|
`Enforcement Agent’
|
|||||||||
|
|
14
|
Ichalkaranji Sahakari Bank Ltd.
|
`Enforcement Agent’
|
|||||||||
|
|
15
|
Palus Sahakari Bank Ltd.
|
`Enforcement Agent’
|
|||||||||
|
|
16
|
Annasaheb Karale
|
`Enforcement Agent’
|
|||||||||
|
|
17
|
Bharati Sahakari Bank Ltd.
|
`Enforcement Agent’
|
|||||||||
|
|
18
|
HDFC
|
`Agent’
|
|||||||||
|
|
19
|
LICHFL
|
`Agent’
|
|||||||||
|
|
||||||||||||