Pre-bid due diligence is key, said Alay Razvi, managing partner, Accord Juris. “The buyer must check the borrower’s financial status via Cibil, MCA (ministry of corporate affairs) filings for companies or NCLT/IBC (National Company Law Tribunal/Insolvency and Bankruptcy Code) filings to detect insolvency applications. Also, they must review auction notices for physical possession, clear title, no pending litigation in DRT (debt recovery tribunal) or High Court, and obtain bank confirmation of no moratorium risks,” he said.
