Successful Recovery of Outstanding Invoice plus interest for Mr. Pawan Agarwal a businessman.

Client Overview: Mr. Pawan Agarwal, a prominent businessman in his respective industry, had been struggling for years to recover a substantial overdue invoice of Rs. 36 Lakhs from a single debtor. Despite persistent efforts, the client faced significant challenges in securing the payment, and the situation appeared increasingly dire. Frustrated and seeking a resolution, Mr. Pawan Agarwal engaged Taurus Collection, to manage this complex case.

Challenges:

• Prolonged Non-Payment: The debtor had successfully avoided payment for several years, creating a challenging environment for recovery.
• Large Outstanding Amount: The initial amount owed was Rs. 36 Lakhs, a significant sum that the debtor had resisted paying.
• Interest Recovery: In addition to the principal amount, recovering the accrued interest was crucial to ensure complete financial restitution for the client.

Taurus Collection’s Strategic Approach: Upon taking on the case, Taurus Collection implemented a strategic, legal and multi-faceted approach, leveraging their extensive experience in debt recovery to secure the overdue payment.

1. Initial Assessment and Communication:
   • Intimation and Warning Letters: The recovery process began with issuing a legal intimation letter to the debtor, formally notifying them of the overdue amount. This was followed by a stringent warning letter, emphasizing the legal and financial consequences of continued non-payment.
   • Notice Delivery: All communication, including legal notices, was delivered through multiple channels—WhatsApp for immediate notification and hand-delivered by field executives to ensure receipt and acknowledgment.
2. Ethical Field Visits:
   • Regular Visits: Field executives conducted visits to the debtor’s premises almost every other day politely reminding them. This pursuit created a sense of urgency and made it clear to the debtor that non-payment could lead to serious legal implications.
   • On-the-Spot Payments: During these visits, the debtor began making payments of Rs. 2 Lakhs almost daily, demonstrating the effectiveness of the consistent communication by Taurus Collection.
3. Targeted Communication with Directors:
   • Direct Engagement: In addition to the field visits, Taurus Collection escalated the matter by directly communicating with the directors of the debtor company. The situation compelled the directors to prioritize the settlement of the outstanding invoice.
   • Interest Recovery: Through these negotiations, Taurus Collection not only ensured the repayment of the principal amount but also secured the payment of the interest accrued, amounting to a total recovery of Rs. 42 Lakhs.

Results:

• Full Recovery Achieved: Within just 5 months, Taurus Collection successfully recovered the full Rs. 36 Lakhs owed, along with an additional Rs. 6 Lakhs in interest, bringing the total recovered amount to Rs. 42 Lakhs.
• Client Satisfaction and Referrals: The client was highly satisfied with the swift and effective resolution of the case. Impressed by Taurus Collection’s professionalism and results-driven approach, Mr. Pawan Agarwal referred three additional clients to the firm, further solidifying Taurus Collection’s reputation as a leader in ethical debt recovery.

Conclusion: This case exemplifies Taurus Collection’s dedication to achieving results through persistent ethical effort, strategic communication, and legal expertise. By focusing on direct engagement and maintaining consistent communication with the debtor, Taurus Collection was able to recover not only the overdue invoice but also the interest accrued, providing full financial restitution to Mr. Pawan Agarwal. The success of this case reaffirms Taurus Collection’s position as a trusted partner for businesses seeking efficient and ethical debt recovery solutions.