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PLS ADVICE ON REPLY OF NESL MAIL REGARDING AUTHENTICATION OF DEBT
05-Dec-2023 (In Recovery Law)
I have recived a mail from NESL regarding authentication of default of my debt on one personal loan.
Pls confirm what is the purpose of this authentication?
What are the consequences if I will not authenticate my debt?
Hello,
The very purpose is to authenticate that you have taken a loan and there is a legal relationship betweeb debtor and creditor.
If you do not authenticate it within the time limit, then they will considered that you have authenticate on its own. You cannot avoid it, legal action would be taken against you anyhow whether you authenticate it on time or not.
Kindly rate the answer and revert if further advise is required.
Thanks
The very purpose is to authenticate that you have taken a loan and there is a legal relationship betweeb debtor and creditor.
If you do not authenticate it within the time limit, then they will considered that you have authenticate on its own. You cannot avoid it, legal action would be taken against you anyhow whether you authenticate it on time or not.
Kindly rate the answer and revert if further advise is required.
Thanks
Helpful?
250+
250+
Adv. Pooja Marwah
Delhi | 100+ Answers
CONTACT NOW
What is the fee for NeSL reporting?
A fee of Rs. 100/- per report download.
Is it compulsory to authenticate the debt in NeSL?
NeSL is a company that works towards
Resolutions that are time-bound by providing information that is verified to creditors and adjudicating authorities, without further authentication.
Why am I getting messages from NeSL?
NeSL will send an email to all entities and individuals ([email protected]/SMS to the registered mobile number) upon receipt of financial information from the banks.
What is the importance of NeSL?
NeSL sends the Record of Default / Statement of Default within 7-15 days of receiving information. When referring a matter to NCLT, the same must be enclosed in Form I. On their notice boards, many NCLTs require that IUs submit a record of default.
a) In the case of Financial Debts, if a Debtor does not authenticate the information and the time limit for authentication of 15 days from the date of successful delivery of the debt information by NeSL-IU has been exceeded, or if a new submission of information with the same unique debt id from the submitter is received,...
Helpful?
Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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