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L.N. Revathy

Coimbatore, Aug 14 Recovery management services company Reyvish Associates has forayed into distribution of financial products and marketing resources.

It has tied up with Shriram Life Insurance for marketing the latter’s insurance products and with various institutions for distribution of financial products.

According to its Executive Director, Mr N. Srinivasan, Reyvish has over Rs 4 crore assets under management.

The company commenced marketing infrastructure equipments along with SREI Infrastructure Finance Ltd and is doing business of about Rs 1 crore every month. “We are acting as their franchisee,” he said.

Apart from SREI Infrastructure Finance, Reyvish is planning to tie up with tractor manufacturers and property developers. “We have initiated the discussion with TAFE (Tractors and Farm Equipement Ltd). Our idea is to provide a link between the banker and the borrower and later follow up with the borrower on behalf of the banker,” Mr Srinivasan said.

On the need for such a linkage, he said “While banks sanction the loan and extend the credit, they invariably fail to register the mortgage with the concerned authority. Most of the home loans are not registered,” he said and added that banks could outsource the ‘mortgage registration’ job.

He further noted that some banks were inclined to ban extension of credit to particular vehicles (tractors) because of bad recovery experiences in the past. “We have decided to chip in by tying up with the manufacturer for collection of papers from the dealers and bank, registering the mortgage on behalf of the borrower and following up with the recovery as well,” he said.

On the recovery front, he said the company helps its clients take possession of the property and recover dues.

More Stories on : Alliances & Joint Ventures | Asset Management Companies | Life Insurance

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