ORIENTAL BANK OF COMMERCE
(A GOVT. OF INDIA UNDERTAKING)
REGIONAL OFFICE: PATNA
CHANDPURA PLACE 2ND FLOOR
BANK ROAD, WEST GANDHI MAIDAN, PATNA-01
PH. NO.-0612- 2219435, 2219437, 2540437 FAX- 2219144 email: [email protected]
(invitation of application for empanelment of Recovery Agent)
Partnership firm or corporate who are One Stop Shop providing all the services under one roof, i.e., the advocate, security agencies, detective
agencies, valuers/auctioneers and enforcement of security interest are required as per bank guidelines for recovery of chronic NPA& for want of
information about the attachable assets of the obligants of the bank Interested firm or corporate are invited to apply for empanelment within 21 days.
Detail guidelines are as under:
Individual/ Partnership firm or corporate who are One Stop Shop providing all the services under one roof, i.e., the
advocate, security agencies, detective agencies, valuers/auctioneers The following points will be considered while
empanelling the Recovery Agents:(1) Geographical presence (Bihar / Jharkhand – District wise)
(2) Constitution of Agency, viz. individuals, partnership firm or corporate. ( Regd. Documents for firm/ Company is
required)
(3) Expertise, knowledge and experience in dealing with the impaired assets,
(4) Consideration of antecedents of promoters and availability of infrastructure,
(5) Firm already listed with the other Banks / FIs as Recovery agents, ( Empanlement Letter to be enclosed)
(6) Agents who are One Stop Shop providing all the services under one roof, i.e., the advocate, security agencies,
detective agencies, valuers/auctioneers and enforcement of security interest may be considered favourably.
(7) Documents showing verification of the antecedents of employees of Recovery Agency, which include preemployment police verification, ( within two years) as a matter of abundant caution to be enclosed.
(8) Recovery Agents should have only such personnel employee who have undergone the training ( 100 Hours
minimum) and obtained the certificate from the IIBF or its affiliated institutes.
(9) The empanelled Recovery Agent shall furnish to the Bank‟s Regional Office, a Bank guarantee for an amount of Rs
1,00,000/-. The said Bank Guarantee should be issued by some other bank. Alternatively, the Agent shall make a
security deposit (by way of term deposit in our bank) for equivalent amount, which shall be duly discharged by the
Recovery Agent and on which bank‟s lien shall be duly recorded. The said Bank Guarantee / discharged CDR shall
coincide with the tenure of Recovery Agent i.e. two years.
(10) The empanelled Recovery Agent will enter into an agreement with the bank ( in bank’s own format), specifying the
terms and conditions of empanelment as contained in the letter of empanelment on non-judicial stamp paper of
requisite value in conformation to RBI circular no. DBOD.No.BP.40/ 21.04.158/ 2006-07 dated November 3,
2006.
Bank Reserve the right to cancel the empanelment exercise at its discretion without giving any reason.
(11) PUTTING UP THE NAMES OF RECOVERY AGENTS ON BANK‟S EXTERNAL WEBSITE-after empanelment of
Recovery Agent, Names and other details like address, Telephone no., names of Proprietor / Partners / Directors /
Senior Executives (with Mobile nos.) etc will be put up with Bank’s external Website as per Reserve bank of India
guidelines vide circular dated 24-04-08 and Indian Bank‟s Association, vide letter no. RB-I / RA / 775 dated 28-07-08