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Overview
Non-Banking Financial Companies (NBFCs) face a significant challenge in recovering funds from eNash default cases, which directly impacts their financial performance and loan disbursement capabilities. To address this, Clergy & Wisemen (C&W) leveraged its PAN-India litigation operations and innovative systems to support a leading NBFC in improving recovery rates and streamlining legal processes.
Challenges
High Volume of Defaults: Managing and pursuing a large number of eNash default cases across multiple locations.
Delayed Notice Delivery: Inefficient notice delivery systems led to delays in initiating legal proceedings.
Costly Legal Operations: High expenses associated with traditional recovery processes impacted profitability.
Turnaround Time (TAT): Long lead times in filing cases hindered efficient recovery efforts.
C&W’s Approach
1. PAN-India Litigation Operations
C&W’s robust network and experienced litigation team provided comprehensive support across the country. This allowed the NBFC to manage and pursue cases efficiently in diverse jurisdictions.
2. Accelerated Notice Delivery System
C&W introduced an Accelerated Notice Delivery System that ensured timely delivery of legal notices to defaulters. This innovative system minimized delays and expedited the initiation of recovery proceedings.
3. Shortened TAT for Case Filing
By streamlining internal workflows and leveraging technology, C&W enabled the NBFC to file eNash default cases in the shortest turnaround time ever achieved. This proactive approach enhanced the recovery process significantly.
4. Cost-Effective Solutions
Through optimized legal operations and resource allocation, C&W reduced the overall cost of recovery for the NBFC. This ensured a higher return on investment for each case pursued.
Results
Increased Recovery Rates: Improved recovery of funds from eNash default cases, boosting the NBFC’s overall financial performance.
Higher Loan Disposal Rate: Faster case resolution allowed the NBFC to disburse new loans more efficiently, contributing to business growth.
Timely Notice Delivery: The Accelerated Notice Delivery System ensured notices reached defaulters promptly, expediting legal proceedings.
Cost Reduction: Significant decrease in legal operations costs without compromising efficiency or outcomes.
Conclusion
Clergy & Wisemen’s expertise in litigation operations and innovative systems transformed the recovery process for the NBFC. By addressing key challenges with strategic solutions, C&W enabled the client to recover more money from eNash default cases, reduce legal costs, and achieve faster loan disbursement rates. This partnership highlights C&W’s commitment to delivering impactful, result-driven solutions for its clients.