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MAMTA (mamtatdave@gmail.com)     18 December 2016

Stay of recovery proceeding of section 101 of m.c.s.act

Credit Society has filed Criminal Complaint on the ground of fraud, misappropriation of fund, cheating etc. against borrower, Officer of the Society and dealer and same is pending. Now Society had filed recovery proceedure under section 101 of M.C.S. Act against borrower before Asst. Registrar.

Whether Stay of hearing of the application under section 101 of M.C.S.Act can be obtained?  

 



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 2 Replies

adv.bharat @ PUNE (Lawyer)     19 December 2016

Mamata ji please elaborate precise the fact of case. What kind of fraud?

 

MAMTA (mamtatdave@gmail.com)     20 December 2016

Borrower had filed criminal complaint against Credit Society for breach of trust as he has singed the documents for vehicle loan and the society without knowledge of borrower directly credited amuont by RTGS in dealer account. The Borrower came to know about it after one month when ecs was deducted from his account. The borrower wrote a letter and informed the society that he has not received the vehicle from the dealer. The ORIGINAL REGISTRATION CERTIFICATE of the Vehicle lying with Society and same was revealed to be febricated. The Chasis no and Engine No. mentioned in R.C. BOOK stand in other person name, hypothicated to other bank and insured with other company as per RTO record, which was revealed in police investigation. Society also filed complaint against borrower, dealer and managaer of the society.


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