Recovery Management System Part – I (Karwai 101)
The relationship between financial institutions and arrears recovery needs no retelling. It is the dream of every financial institution to have a low outstanding ratio. The stronger the relationship between the organization and the arrears recovery, the financially stronger the organization and the lower the amount of arrears, the more stable the organization!
That is why recovery is the highest priority in all financial institutions.
Every organization uses different methods available for recovery of dues.
One of them......
The Ministry of Cooperatives has provided a simple and dynamic method of recovery for cooperative societies. That is, the recovery action to be taken under Section 101 of the Maharashtra Cooperative Societies Act, 1960 has many advantages.
- The fear created by this is more than the traditional judicial system.
- 101 action speeds up recovery and is beneficial to both the borrower and the institution.
- Both cost and time spent in court proceedings are reduced in this method.
But we are happy to provide a simple and easy computerized system online to avoid delays and mistakes while filing 101 proposal.
This system can be easily used by Urban Co-operative Credit Societies, Rural Non-Agricultural Co-operative Credit Societies, Urban Co-operative Banks, Associations of Urban Co-operative Banks, Co-operative Credit Societies Federation and Co-operative Housing Societies. You can use this system on smart phone, tab or computer.
Through this system, all the necessary documents from the notice to be given before filing a claim under section 101 of the Maharashtra Co-operative Societies Act, 1960, to preparing the proposal and filing it, are prepared in a few minutes. Stamp duty and inquiry fee etc. are calculated automatically while preparing the proposal.
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Uses and Benefits
- Aggregate information on arrears or recoveries
- Marathi typing in very easy way.
- Very easy to understand and use.
- A proposal can be prepared in less time.
- Complete compilation of recovery action taken against defaulters.
- Speed and quality in working methods.
- Neat, legible and uncluttered notices and proposals.
- All information is stored permanently and can be used later.
- By reducing the writing work, more time can be given for the overall progress of the organization.
- Work power of the employee increases.
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Available notices
- 3 letter to remind the borrower to pay the installments.
- 2 Types of Notices to be given to Borrower
- Notice of section 46.
- Two notices to be given to defaulter before filing suit under Section 101 of Maharashtra Co-operative Societies Act, 1960. (A and B or first and last)
- Sample 'U' (Proposal)
- Summons with register delivery receipt
- Specimen 'V' (Receipt Receipt)
- 2 Types of Notices to be given to Borrower
- Roznama and X Party Roznama
- Answer given by the employee of the organization before the Registrar
- Statement of defaulters before the Registrar
- 101 Copy of resolution for Karwai
- Registrar's Order (can be generated online)
- List of documents required for 101 karwai
- Currency
- Register of hearings
- Address labels of defaulters
- List of all claims filed for 101 proceedings
- Affidavit of Employee
- Case Status Report (Date wise)
- Manager reports as per claim. (For Board of Directors)
- Microsoft Excel output
