India has a long way to go in establishing a mature collection services industry. The collection business needs to be regulated and empowered with legal powers to become an effective tool. Already, there is awareness in the country that court dependant recovery is an inefficient way of debt collection. Alternative solutions have emerged recently and specialised debt collection services are gradually becoming available. The recent creation of Assets Reconstruction and Securitization Companies under the SARFAESI Act is definitely a step in the right direction for recognising debt collection as an independent and specialised business function.

In this context, we have invited two professionally managed companies to explain to the audience how far they can assist small, medium and large size companies in the collection of debt within the existing legal framework.

• BLS DETECTIVES Ltd. is an ISO 9001:2000 Public limited company specialized in the field of detection, investigation, commercial verification & services and IPR violation. BLS Detective Ltd. is also active as enforcement agent under the Securisation and Reconstruction of financial assets and enforcement of Security Interest act 2002 (SARFAESI act) for 15 banks and financial institutions.
• TRUSTMAN is one of the few Debt Collection attorney network in India, having specialization in debt collection in the normal course or through legal means, both within India or abroad, with a world wide network of attorneys/ Debt Collectors. Trustman provides National & International, Commercial and Consumer Debt Recovery / Collection Services. The policy of the firm is always to give priority to amicable debt collection. Courts collection is proposed to the creditor if amicable efforts for debt collection have not succeeded and if debtor’s solvency is assessed as sufficient. The policy of the firm is to charge a contingent fee calculated on a percentage of the claims recovered from the debtor.

Event details :

Date : Thursday, 24th June, 2010 – at 7.00 pm onwards (seminar followed by cocktails and dinner)

Venue : Magnolia, Habitat World, at India Habitat Centre, Lodhi Road – New Delhi 110003 (Entry from gate number 3 on Vardhman Marg)

Participation charges:    INR 1,000 for Members – INR 1,500 for non members

As the seating in Magnolia IHC is limited, we would greatly appreciate it if you could kindly confirm your participation ASAP by email at info@blbanewdelhi.org.