1. The document outlines the standard operating procedure for possession of movable retail products, including guidelines for issuing, repossessing, recalling, and storing repossession kits. 2. The process involves approving repossession requests, issuing repossession kits, repossessing assets, parking assets in empaneled yards, and handling unutilized or lost kits. 3. Key steps include verifying eligibility, notifying customers, filling out kits, coordinating with police and yards, and documenting the process. Approvals from managers are needed for certain deviations from standard procedures.

1. Internal document
Page 1 of 5
SOP - Possession
Details:
Process Possession
Date 13/08/2019
Version VER 4/Possession/ 0819
Product Movable assets of Retail Products
Scope: Broadly defines guidelines for issuance, repossession, recalling & storage of Repokits
along with process to be followed for lost Repo-kits.
Issuance of Repokit & Repossession:
Sr.
No
Process Steps FPR Tentative TAT*
1 Approval for Repo kit issuance & repossession to
be sought post ensuring the following:
1. LRN is issued & notice period is complete.
2. Case is eligible for Repo based on DPD
3. Repo Agency is empanelled
4. Repo agent is having DRA ID Card.
CP/CCL/PCL As & when required
2 Post approval, below mentioned details to be
provided to PMT along with the Approval mail -
a. Customer name & loan no,
b. Linked Loan no, if any
c. Registration no
d. Repo Agency & Agent name
CP/CCL/PCL T
2 On receipt of request, PMT to check the following:
- DPD & other details as per system dump.
- Vehicle details as per VAHAN site.
- Loan Recall Notice is issued at least 10 days prior
to Repo-kit issuance.
PMT T+2
3 On fulfilment of all parameters, below mentioned
details to be filled in Repo Kit :
1st Page: -
-Date of Issuance
-Possession Agency Name
-Asset Possession order approved by
-Asset Possession order issued by
- Asset Possession order received by
2nd Page:-
- Repo agency name
PMT T+2

2. Internal document
Page 2 of 5
SOP - Possession
- Customer name
- Agreement no.
- Agreement Date
- Amount finance
- RC no
- Engine no
- Chassis no
-Model Details
4 Repo Kit no. and issuance details to be updated in
Repo Kit register & Repo kit to be dispatched to the
requestor.
PMT T+2
5 Post receipt of Repo-kit, all details filled in Repo kit
to be checked & receipt of physical repokit to be
confirmed to PMT.
Repo Kit to be signed & stamped before issuance
to the Repo agency. (Acknowledgement to be
taken from repo agency.)
CP/CCL/PCL T+5
6 On tracing the asset, police intimation regarding
scheduled possession to be carried out via letter.
Acknowledgement & signature of the concerned
Police officials to be taken on pre-possession letter.
Cases where police does not co-operate or accept
such letters, letter should be sent by RPAD/ Speed
post.
Repo agency R
(Where R is date of
repossession)
7 Possession to be taken by the authorized
possession agent.
Inventory sheet to be filled as per inventory of
items and accessories available at the time of
possession.
(Inventory sheets are in quadruplicate-1st copy is
customer, 2nd copy: Stockyard; 3rd copy: Agency
copy, 4th copy: office.)
Collection of original keys, original RC document,
permit copies (for commercial vehicles) of
possessed asset are highly recommended.
Important points: -
1. Repo agency to strictly follow the Code of
conduct
2. In case there are any valuables kept in the
asset, the same to be returned to the
borrower/driver on the spot.
Repo
Agency
R

3. Internal document
Page 3 of 5
SOP - Possession
3. In case of commercial vehicles which are
laden, where ever possible, please ask
borrower / consignor / consignee to
unload the goods before taking possession.
(In case of any violence or resistance from
customer, agency should abandon the
possession activity and document the same
with Bank officials.)
8 Post repossession, intimation needs to be given to
police about the repossession.
(Cases where police does not co-operate or accept
such letters, letter should be sent by RPAD/ Speed
post.)
Repo agency R+1
9 Repossessed vehicle to be parked in nearest
empanelled yard. Possession intimation to be
given to PMT team over mail
Repo
agency/CP
/CCL/PC
L
R+1
10 Stockyard person to take inventory of asset, match
the items and sign on the inventory sheet of the
Repo-Kit. In case of any mismatch in the inventory
sheet & the physical asset, the same needs to be
communicated immediately to PMT, PCT &
Concern manager over mail.
(Asset to be parked at designated area inside the
yard. Inward & outward movement of asset to be
updated in the register.)
Stock Yard R+1
1. Process for sending used Repo Kit to PMT
Sr.
No
Action step FPR TAT
1 a) Original Repo Kit and other documents to
be sent to PMT.
b) Copy of used Repo Kit along with original
documents to be retained by
CP/CCL/PCL. Original documents to be
stored in drawers under lock & key.
c) CP/CCL/PCL needs to hand over the
original documents retained by him to
buyer/customer at the time of release of
asset. They should take acknowledgement
of original documents handed over to
buyer/customer and share the same with
PMT .
CP/CCL/PCL Repo, Valuation
& Sale related
documents
should be shared
with PMT within
30 days of Repo,
Valuation &
Sale/Asset
release date
respectively.
(Please refer
Annexure 1 for

4. Internal document
Page 4 of 5
SOP - Possession
detail of
documents.)
2. Repokit & other docs received by PMT to be
checked & stored properly.
PMT
2. Process for Unutilized Repo Kit
Sr.
No
Action step FPR Tentative TAT *
1 If Repo Kit is expired/unutilized, CP/CCL/PCL to
strike off (cancel off) the entire Repo Kit and send
it to PMT.
CP/CCL/PCL T+30
Where T is date of
expiry of Repo kit
2 Post receipt of the Repo Kit, Repo Kit register to be
updated and Repo Kit to be cancelled, if not
cancelled by CP/CCL/PCL.
PMT T+34
3 All cancelled Repo Kits are shredded/purged post
completion of audit.
PMT Based Audit
Completion Date
3. Lost Repo Kit Process: -
Sr. No Action step FPR Tentative TAT *
1
On receipt of lost Repokit intimation from
CP/CCL/PCL/Agency along with FIR copy,
indemnity bond and draft of paper publication,
PMT to share draft of Paper publication with MCC
for Vetting.
(a) Loss intimation should be given within 2
days of loss of repokit by CP/CCL/PCL/
Agency to PMT via e-mail/letter.
(b) Indemnity bond is required to be shared
within 30 days of loss intimation.
PMT
T+1 (where T is
the date of receipt
of draft of paper
publication)
2 Vetted paper publication draft to be shared with
CP/CCL/PCL for publication.
PMT T+15
3 Agency/CP/CCL/PCL to share the paper
publication copy with PMT.
Agency/CP/CC
L/PCL
T+45
4 Paper publication copy along with other
documents to be filed properly.
PMT T+46
*The timelines are indicative. Actual timelines may differ from case to case / time to time,
considering the dependency on process steps, volumes, availability & accessibility of relevant
authority, etc.

5. Internal document
Page 5 of 5
SOP - Possession
Annexure 1:- Repo documents checklist
Approval Matrix:
Deviation Approving Authority
Fresh Repokit issuance NCL or CH or CCC Head
Repokit Reissuance PCL or NCL or CH or CCC Head
Scanned Repokit Issuance NCL or CH or CCC Head
Any type of approval/deviation approval related to
Repokit issuance
NCL or CH or CCC Head
Repo by un-empanelled Agency or Parking of Assets
in un-empanelled yard
NCL or CH or CCC Head
Any kind of approval/deviation approval related to
Lost Repo-kit
NCL or CH or CCC Head
Any kind of Process related deviation/ISO
deviation/Non-Compliance/Ratification
NCL or CH or CCC Head