Dharmesh A Gandhi
23 May 2012 at 15:18
My client is builder and had some cash finance without any record from party during 2005-06. The financer had taken Blank Chequs duly signed by my client with out date. Amount and party's name. Since the finance had already been paid my client is entitled to have cheque from financer. Instead of returning cheques he is thretening to deposit cheques and filed complain u/s. 238, 420 now. In fact the claint had closed his business and Bank operation. Though The Bank account had not been closed but running with Minimum Balance. Is it Possible to breach of section 138/ 420..? Can he filed complain..? Please guide what to do..? Thanks.
Awaiting of your reply.
sasankajyoti sharma
23 May 2012 at 11:11
A woman whose husband is lying in comma at present in a Hospital is suffering from financial crisis.
Her said husband is an employee of a PSU and she along-with her other family members are dependent on him financially. Her said husband has an individual Savings Bank Account which is operated by him only in a Nationalised Bank at his place of residence. The monthly salary against his employment is directly deposited at his aforesaid Bank Account by the PSU.
Due to such condition of her husband she is suffering from financial crisis as she is not assisted by any person. She is unable to pay medical bills and medicine costs. She has a lot of hardship in following daily pursuits. If her husband had the aforesaid Bank Account a Joint one with her, then her financial condition would not have been worse today.
Now, the question is that whether there is any possibility of obtaining a Court Order on the basis of her Declaration as wife for converting the aforesaid individual Bank Account of her husband into a Joint one, so that the Bank authorities can act upon. Let me know where and how to file a Petition for Declaration.
C.V.S.Jetty
22 May 2012 at 14:23
A minor can open and operate SAvings Bank Account in a Bank. A minor can be a joint account holder in a term deposit with his father/mother as the guardian [m/g/f] and joint account holder.
Is is alright to open a running account [say Savings Bank account] where surplus funds over and above certain monetary limits, would be swept to form term deposits and as and when there is a requirement of funds, these term deposits would be prematurely closed and funds made available in the running account, where the minor and an adult or joint account holders ?
Is there is any legal hitch ? This is because there shall be issue of cheques, closure of deposits prematurely, account could be operated by a minor, etc.
Kindly clarify.
Bhumika
22 May 2012 at 13:44
Dear Sir,
Please answer me the query as stated under:-
While opening an import LC ,if an accepted Purchase order is submitted ,Is there a necessity to submit Proforma invoice as well? Or either of the both will do?
Please explain in detail.
Thanks in advance....
Regards
NAYAK MAFATLAL GORDHANDAS
25 January 2012 at 12:04
Sir, my best friend (Branch Manager of Nationalied Bank) who was caught red handed by ACB, case was filed by ACB. Meanwhile, Bank suspended him on the ground that he was kept under 48 hours' custody.
Departmental Inquirey was setup and charges were partially proved by Inquiry Authority. He was degraded to first stage of Officer Scale 1.His suspension was revocked. Recently, case was run in Hon. Court and he was sentenced for 5 years jail. After that he applied for bail in high court and court granted bail. After his relive from jail he joined his duty, but once again Bank suspended him on the ground that he was kept under more than 48 hours'custody. After that bank has issued him show cause notice why should he not dismissed from the service. He urged the bank that high court have admitted his appeal which is pending, and there is no ground to dismiss him from the service, but Bank have dismissed him. Please, guide: Have bank taken right action or fault of the Bank on which base my beloved friend can get JOB back.
Thanks and regards.
Chander Kumar Santani
17 January 2012 at 21:07
I am a banker. With me a borrower has borrowed Rs.40 crore as term loan in 2010 and created first charge by deposit of title deed on its land. Now he has been sanctioned another term loan of Rs.11 cores and 14 crores working capital which is secured by first charge and second charge respectively on the same property. In our stamp stamp duty on MOE is 0.25% or maximum 5 lakh. Now for this additional facility to create mortgage how much stamp duty is payable. Borrower is insisting that stamp duty only on 11 crore that is first charge basis Rs.2.75 lakh basis is payable. while our view is it will attract stamp duty on entire additional assistance sanction i.e 25 crore and Rs.5 lakh is payable. Pl clarify
YASHPAL RAWAT
17 January 2012 at 18:49
A wife received medical reimbursement (Cost of pacemaker) after death of her husband due heart failure from Govt. Office where her husband was working. Whether this amount is taxable in the hand of wife, if no so pls. mention section as per IT Act 1961.
Vinesh K Chhaya
29 December 2011 at 15:36
Can Reserve Bank Of India give Direction to count Interest Rate if excessive under section 35A of Banking Regulation Act 1949?
Who has power to decide Interest Rate When it seems excessive ?
ashwin kamdar
08 December 2011 at 12:02
i have been discharged by the court as a gurantor but still bank is not ready to release our title deeds of a property saying that
" you have been discharged as a gurantor but not as a mortgauger, and they hold a recovery certificate against the principal borrower, so under the provision of law, the bank can encash my property to recover their dues from the principal borrowers."
It is important to note that I havn't mortgauged the said property as it was just simple deposit of title deeds at a branch of the bank which is situated at Panvel (which is not a notified area under section
58(f) , transfer of property act 1882 and till today bank hasn't registered any motgauge deed or created any charge on it.
As I understand, once a gurantor is discharged by the court, he or she no more remains continuing as a mortgauger for their property.
I need few clearifications on the issue as under.
(1) Can the bank encash my property under the
circumstances mentioned above, even if I am discharged as a gurantor and never mortgauged my property.(it was just a simple deposit of title deeds of my property in a non-notified area's branch of the bank, which was not registered by the bank)
(2) Is it lawfully correct whatever bank says? (i.e.a gurantor needs to get discharged in both way , as a gurantor and as a mortgauger seperately and specifically)
(3) Do I need to approach the court for rectification of the order? (which in fact I would like to avoid as it costs a lot)
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Inheritance under hindu succession act
I am a hindu married and have one minor son aged 12 years. My wife is working and getting sufficient independent income to sustain herself throughout her life. She is not contributing a single rupee towrads the household expenses and education of my son.
I am aged 41 years and lately not keeping well/sufffering from some serious disease.
I own moveable/immovable properties worth about 80 lacs.
I wish to ensure that after my demise, my entire assets built by me through my own efforts should go to my son and NOT my wife.
Kindly guide me as to what should I do.
Thanks