MONEY RECOVERY SUITS
We assist businesses and individuals in pursuing rightful dues through diverse legal channels, including Commercial Courts, Arbitration Tribunals, and/or MSME Council.
Commercial Suit:
We prefer approaching the Commercial Courts which have been established in all the metropolitan cities since 2016 for speedy trial. These courts are equipped with better legal frameworks and judges having know how about commercial disputes thereby reducing the time frame of litigation from 5 to 10 years in the traditional civil courts to 1.5 to 2 years approximately in the Commercial Court.
Our seasoned legal team is well-versed in devising and executing strategic commercial suits to pursue debt recovery. We meticulously analyse each case, tailor our approach to the circumstances, and leverage our advocacy skills to represent the client’s interests in court. We aim to secure judgments in a speedy manner and assist in enforcing them efficiently thereby ensuring the recovery of the money along with interest owed to the client.
Arbitration:
We understand the significance of alternative dispute resolution mechanisms, especially in commercial disputes. Our firm has a strong track record of representing clients in whether ad-hoc or institutional arbitration proceedings. We aim to resolve disputes swiftly, minimise costs, and secure favourable awards.
We represent parties before the High Court for appointment of Arbitrator in cases where the parties have agreed to amicably resolve disputes through Arbitration in a agreement between the parties.
Micro, Small, and Medium Enterprises (MSME) Framework:
We recognise the unique challenges faced by businesses in the MSME sector and offer specialised assistance in utilising the MSME Facilitation Council platform for expeditious recovery of dues. Our experts are well-versed in the nuances of MSME-related legal procedures, enabling us to provide effective representation, negotiation, and advocacy on the client’s behalf, thus ensuring the recovery of their money along with interest in a time-bound manner.
Negotiable Instruments Act (Cheque bounce cases):
Cheques are instruments which can never be replaced in the industry. Businesses accept cheque and provide goods/services and it is a criminal act if the same is dishonoured. We handle cheque bounce cases end to end and put our best efforts for speedy disposal since the district courts are generally held up with huge back log of cases and at time transfer of judges.
FREQUENTLY ASKED QUESTIONS (FAQs):
A commercial suit is a legal action filed in court to recover outstanding debts or resolve commercial disputes. It would be best if you considered filing one when attempts at amicable settlement have failed, and you seek a legal remedy to enforce your claim.
The MSME framework provides a specialised platform for micro, small, and medium enterprises to expedite the recovery of dues along with compound rate of interest. It is important to note that such compound rate of interest can also be claimed before the Commercial Courts.
However, due to the covid situation, MSME Facilitation Councils has received several complaints and with no man power to handle the same, cases are taking more than 1 to 1.5 years to be even initiate thereby defeating the purpose of its establishment.
Yes, but only if your company is a micro or small enterprise.
You should gather all relevant documents, including contracts, invoices, communication records, and any evidence of the debt and transaction. These documents will be crucial in building your case.
Commercial court and Arbitration take pretty much the same time considering that you need to approach the High Court for appointment of Arbitrator in the first place. And the cost of Arbitration is generally high compared to the Commercial court.
Yes, once you obtain a decree or arbitration award in your favour, you can enforce it legally.
Yes, the MSME framework has certain criteria based on the size and nature of the enterprise. Your business must meet these criteria, and the disputed amount should fall within the specified limits to avail of its benefits.
We handle cheque bounce cases only the if the cheque in question is 30 lakhs or above.
