India, Land of all Seasons – Where Diversity Delights, Tradition Talks and Culture Echoes…

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MNS Credit Management Group (P) Ltd (MNS Group) is one of the leading Credit and Risk Management Companies in India providing Business Information Reports and managing recovery of overdue receivables/debts,   collection on a truly global basis backed by a wealth of professional expertise.

MNS Group offers total credit management services that include Debt Collection of all complexities, Receivable Management and as well as Legal and Business Advisory Services. Besides debt recovery, MNS Group offers freshly investigated business credit information reports on companies all over the world.

MNS Group’s Legal and Collection teams   have specialized in Commercial Law and Debt recovery for more than two decades. Its Advisory Panel consists of Senior Lawyers practicing in various High Courts and the Supreme Court of India specializing in various branches of law, particularly commercial law.

MNS Group has vast experience with the Indian Legal System ranging from lower courts through the Supreme Court of India and specializes in Arbitration, Winding -Up  Petitions, Recovery Suits, Criminal Cases and execution of Foreign Decrees. MNS regularly monitors the procedures and costs Group implications of each Court in order to recover Client’s debts as cost effective as possible.

MNS Group – Services

  • Debt Collection
  • Recovery of Account Receivables
  • Recovery of C-Forms and TDS Receivables
  • First Party Collections
  • Business Advisory Services
  • Arranges Legal Services
  • Standard Business Credit Reports
  • Comprehensive Business Credit Appraisal Reports
  • Credit Investigatory Reports
  • Business Authentication and Verification Reports
  • Litigation Search Reports
  • Due Diligence Reports

MNS Group – Key Features

  • No Recovery-No Fee
  • Expertise in Amicable solution that save time and legal cost
  • Use only soft Methods of Recovery
  • Follow systematic approach for enhanced success, even for complex cases
  • No unfair means are adopted in the performance of our duties.
  • Global presence –Local access
  • Keeps client relation intact
  • In-depth understanding of the debt collection process in India and overseas

The professional expertise and experience over the years has helped hundreds of clients of significant magnitude in India and in various parts of the globe in addition to tremendous goodwill.  In the process MNS Group has been able to create a remarkable presence in this service sector.

MNS Group understands their customers needs and provides a complete, cost effective solution.

MNS Group specializes in handling the entire process of Debt Recovery for contingency fee. MNS Group does not charge any upfront fee or Minimum commission. MNS Group’s contingency fees are exclusively dependent upon recovery of payment [No Recovery –NO Fee Basis] for our pre-legal efforts.

MNS Group has been providing quality service to our impressive portfolio of international clients which includes Credit Insurers, Export associations, Large Banks & financial institutions of international repute, Multinational conglomerates, international collection companies, credit agencies, Law firms etc. to their full satisfaction. Besides these, MNS Group has handled collections for several multinational banks of Middle East countries, particularly UAE for their India specific assignments.

MNS Group is one of the shareholders and the sole representative of TCM Group International in  India;, one of the largest networks of debt collection companies and specialized law firms around the globe with a network of over 150 countries. Besides TCM Group, our affiliation & membership with other leading industry associations of the world (ACA-American Collectors Associations, USA, CSA- Credit Services Association, UK, IACC- International Association of Commercial Collectors, AirSP-Insurance and Reinsurance service providers Association-UK, FIEO and FICCI b2b) keeps us abreast with international trends, helps maintain international standards of service and enable easy reciprocation in cross country assignments.

Our Mission

To provide innovative and resourceful credit information products that consider the realities of business and allow our customers to implement effective strategies that in turn, enable them to make sound trade decisions and assist them to reduce delinquencies.

Our Vision

To be known as the most professional, reliable and trustworthy organization in this line of business not only in India but globally!

General Business Practices


  • There are 22 different languages that have been recognized by the Constitution ofIndia, of which Hindi is the Official Language.
  • English by law has been designated as the language for official purposes.
  • States specify their own official language.

Currency: 1 Indian Rupee (INR) = 100 paise

Financial Year :  1 April – 31 March

Collection Agencies are not licensed in India


  • India is a federation with a parliamentary system governed under the Constitution of India
  • Parliamentary System consisting of 28 States and 7 Union Territories.
  • The legislature is the Parliament – it is bicameral – consisting of two houses.

Central Bank

Reserve Bank of India (RBI)is the central banking institution of India and performs the  following main functions:

  • Monetary Authority
  • Regulator and supervisor of the financial system
  • Manager of Foreign Exchange
  • Issuer of currency
  • Developmental role
  • Related Functions

Indian Legal System

  • The Indian Legal System is enacted through laws, regulations and enactments carried out jointly by the federal system of Indian Parliament & the State Legislature, Executive and the Judiciary, which are the three organs of the Indian Constitution that work in tandem to give face and stability to the Indian Legal System.
  •  The judicial branch has One Supreme Court, 21 High Courts and numerous civil, criminal and family courts at the District Level

Indian Civil Procedure Code 1908

  • The Civil Procedure Code (C.P.C.) regulates the functioning of Civil courts.
  •  It lays down the:
    • Procedure of filing the civil case.
    • Powers of Court to pass various orders.
    • Court fees and stamps involved in filing of case.
    • Rights of the parties to case (plaintiff & defendant)
    • Jurisdiction & parameters of Civil Courts functioning.
    • Specific rules for proceedings of a case.
    • Right of Appeals, review or reference.

Indian Judicial System

  • The three-tiered system of Indian judiciary comprises of Supreme Court (New Delhi) at its helm;
  • High Courts standing at the head of state judicial system;
  • Followed by District and Sessions Courts in the Judicial Districts, into which the states are divided.
  • The lower rung of the system then comprises of Courts of civil (Civil Judge) & Criminal (Judicial/Metropolitan Magistrates) Jurisdiction.

Types of Companies in India

In India, the most important law, which regulates all aspects relating to a company, is the Companies Act, 1956. It contains provisions relating to the formation of a company, powers and responsibilities of the directors and managers, raising of capital, holding company meetings, maintenance and audit of company accounts, powers of inspection and investigation of company affairs, reconstruction and amalgamation of a company and even Winding up of a company

 Types of Companies

  • Sole Proprietorship
  • Partnership
  •  Private Limited Company
  • Public Limited Company
  • Limited Liability Partnership (LLP)

Structures Typically used by Foreign Investors in India

Liaison Office: A liaison office in India is permitted by the RBI to undertake specific activities.

Branch Office: A branch office is permitted by the RBI to undertake specific activities.

Local Indian Subsidiary Companies: Foreign companies allowed to set up wholly owned subsidiary companies in India in the form of private companies, subject to the prescribed FDI guidelines.  Further foreign corporations can set up a joint venture company with an Indian or foreign partner.

Project Office: A foreign corporation that has secured contracts from an Indian company to execute a project in India may set up a project office in the country without obtaining prior permission of the RBI subject to prescribed reporting compliances.

India Debt Collection – An Overview

  • Lawyers, Collection agencies and creditors handle debts.
  • The Collection business is a relatively new concept in India, which was not treated as a specialized job.  It was always treated as one of the jobs that legal departments of the banks and financial institutions were required to undertake to recover its Non-Productive Accounts (NPA’s).
  • India, with Increased business expansion and globalization, has now widely accepted Debt Collection causing it to become a specialized job.
  • The third-party debt collection industry now plays an important role in the Indian economy by collecting on past-due accounts referred to it.
  • Recovery actions and efforts in India are all focused on treating the debtor with fairness and making reasonable demands. There are many laws against harassment and threats to take away personal property. The laws and regulations in India encourage debt collection representatives to always treat the debtor with respect and courtesy.
  • The Indian legal system has the remedies available under the law to collect debts if the debtor does not agree to pay under normal circumstances. The creditor may file a suit for its recovery; debts based on written contracts could be recovered by followed fast track procedure (Summary Suits) or can go for Winding up of the Company.
  • As per the guideline of RBI, no Indian can collect money on behalf of a foreign client in India. Thus, we instruct the debtors to remit the payment to the original creditor’s account.

Critical Factors for Collection 

  • Liquidity
  • Disputes
  • Traceability
  • Intentional Denial / fraudulent activities
  • Lack of transparency in documentation
  • Change of agreement terms in between the two parties without proper documentation (like Mode of transport / payment terms / quality level / delivery location etc.)

Limitation Period

As per Limitation Act, 1962, the limitation is 3 years. However, if at any point the debtor makes a partial payment or a written acknowledgment of the debt, the period is extended for three more years from this date.


  • If specifically mentioned in the contract, then one can file only in that place. In case, jurisdiction is not mentioned in contract, proceedings can take place where defendant is present or where cause of action has arisen.
  • But a Winding up petition can be filed only where the Registered Office of the defendant company is situated irrespective of the fact that in the Contract, Jurisdiction mentioned is in another place.

Legal  Procedures

  • Recovery Suits
    • Costly & time consuming.
    • Cost differs from state to state as Court fee rates vary.
  • Winding Up Petition
    • Possible in case debtor is a registered company and undisputable acknowledgement from debtor is available
    • Cost competitive
    • Time effective
    • No jurisdiction issue & can be filed only at the place of Registered Office.
    • Results in amicable settlement in case debtor wants to remain in business
  • Summary Suits
    Summary proceedings are possible under certain circumstances where claim is based on invoices and specific written Contracts etc.
  • Criminal
    • In case of returned cheques: Complaint u/s 138 of Negotiable Instruments Act, 1988 is filed.
    • Possible where misrepresentation and fraud by debtor
  • Alternate Dispute Resolution
    Arbitration as per mutually agreeable terms or under arbitration and Conciliation Act, 1996
  • Other Legal Options
    Execution of decree / court order obtained from a foreign court (depends on whether a country Treaty is existing)

Legal Process

  • Full certified documents
  • Legal fees
  • Filing of case
  • Legal Cycle –2 to 3 years  (can go beyond depending on case)

Withholding tax

  • Withholding tax is a government requirement for the payer of an item of income to withhold or deduct tax from the payment, and pay that tax to the government.
  • The rates are general and in respect of the countries with which India does not have a double taxation avoidance agreement (DTAA).


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