Cross liability in banking (advances)
Guest
(Querist) 04 April 2014
This query is : Resolved
Sir I have taken two personal loans in the year 2006 & 2007 when i was an employee in the same bank.In the Year 2008 My Brother inlaw has taken a mortgage loan in the same bank and i was a Co borrower in his Loan.
I have left the Bank in 2010 and my Personal Loans have Become NPA since then,After six years of Mortgage payment we have approached for the closure of the mortgage loan,The bank has refused to accept the closure of mortgage loan and asking my brother in law to close my personal loans also which are overdue and not paid by me since 2010. The bank has refused to accept the payment for the mortgage loan and dozed the account to an NPA, They have also sent an 13(2) notice to my brother inlaw saying he is cross liable for my personal loans also as iam a co borrower in his mortgage Loan.
my question is How can he become liable to my loans when he has not signed any docs for my loan accounts and can we approach DRT for a stay on the issue as we are ready with a DD for the loan closure.
Pls Advice
Rajendra K Goyal
(Expert) 05 April 2014
Please confirm whether any cross liability / extended guarantee letter was not signed by your BIL while receiving the loan or mortgaging the property. Generally Banks take such letters.
If such liability does not exist, approach DRT.
Guest
(Querist) 05 April 2014
Sir My brother in Law is a NRI and i have Signed all the Docs agreements of the Mortgage with POA for the Bank Loan. There is clause in the mortgage loan agreement on cross Liability,But No separate docs are Signed by me or him.Know The Bank Argues that i being the POA holder for the mortgage loan and my Brother inlaw as main borrower of the mortgage Loan hold cross Liable for all My personal Loans also.
My Question is I have signed in the Mortgage Loan with a POA Only because of HIS NRI Status,when property is not in my name How can the Bank Connect my Personal Loans to His Mortgage Loan which i took an Year before. PLS advice
RAJU O.F.,
(Expert) 05 April 2014
Bank cannot deny remittnce towards closure of mortgage loan. If bank refuse to accept the said remittance in their counter, send the amount by NEFT through another bank, to your mortgge loan a/c. Since you are co-borrower of mortgage loan, even after closure of mortgage loan, bank will exercise bankers lien and retain the the title documents of property. after closure of mortgage loan, bank cannot proceed under SARFAESI Act. If bank had sent Demand notice u/S 13(2) you have to send objection letter/ representation in writing within 60 days from Notice. If bank further issued Possession Notice u/S 13(4) of the said Act, then only you can approach DRT u/S 17 of the Act.
Guest
(Querist) 06 April 2014
Sir's Can the Banker Excersise the Lein on the Property Docs which belongs to my brother in law ,In spite of him Not signing any of my personal loans as a Guarantor which i took in the year 2006 & 2007. where as the Mortgage loan of my brother inlaw is taken in 2008 for which i stood as a Co Borrower...
Pls advice
Advocate. Arunagiri
(Expert) 06 April 2014
If your brother in law is not a guarantor to your loan, his property can not be attached by the bank. In this case the act of the bank is illegal. Send a notice to the bank.
Guest
(Querist) 06 April 2014
Sir I thank Each and Every one for the advise.
Reg..Sunil
V R SHROFF
(Expert) 06 April 2014
you yourself is banker,and knows Bank paid Public Money to your brother in law, due to you being Bank staff. .[ u misused your power and authority and influence Bank to pay your BIL] AMT TO CHEATING ALSO..
Try to repay bank loan...
Guest
(Querist) 06 April 2014
Mr Shroff , Please do not comment without knowing the facts about the Issue ,Kindly read my query before making allegations, Infact the Bank has cheated me by marking lein on my personal accounts and also debited 3 lacs of my PF and Gratuity ,reason being i have complained to the MD about my National head On my resignation and releiving aspects.
This is a pure line of unethical practices done by some staff in senior level where people like me and my brother in law are victimised.All I was doing is to protect the customers right where the bank has cheated in all aspects and dwindled about 1 lac as charges which where increased without notice.We have already cleared 85% of the loan FYI..and you are talking about public money...!!
Any way thanks for your Advise..!!!
Guest
(Expert) 06 April 2014
The borrower of mortgage loan cannot be made liable in peronal loan of a co-borrower. Further, the bank cannot refuse to accept payment of mortgage loan. It is clearly a case of coercion and blackmailing by the bank authorities.
Guest
(Querist) 06 April 2014
Sir Thank you very Much
Guest
(Querist) 06 April 2014
Sir Can we File a WRIT in the high court
Devajyoti Barman
(Expert) 06 April 2014
Mr Nuguri, talk properly with experts here.
You have n business addressing Mr Shroff in than fashion.
Guest
(Querist) 06 April 2014
Mr Barman ..Regret to say that even Mr Shroff doesnt have any business to make baseless allegations against me saying cheating and all. I have been requesting all the experts for the advise,and if you can see most of them giving the same ,and i am a talking properly to each and every one ,otherwise no body would have responded.
Guest
(Querist) 06 April 2014
I sincerely thank all the experts .My Query is Resolved
Guest
(Expert) 06 April 2014
Nice to hear that your query is solved.
ABDUL RAZIQUE
(Expert) 09 April 2014
Mr Sunil Nuguri,
It is mostly un natural claim against Shroff Sir, Before asking a question from this platform always mind it that it is a public platform and here all experts for you and they advice freely for awareness. i hope you will take back your words with regards.
Sudhir Kumar, Advocate
(Expert) 10 April 2014
moreover this is a charitable forum.
from given facts I can understand (which none could see) an illegality done against you. But I decide to keep quite for the fear of being treated like Mr Shoroff who is amongst to 10 expert of this forum
Guest
(Querist) 10 April 2014
Sir This is not the way an expert should comment, not knowing the facts.I have made it very clear that i was victimised by senior lever manager in the bank on certain personal issues, without knowing the fact ,the expert has commented as cheating ,with due respects to the open forum and all the experts here i tender my My unconditional Apology ,(Mr Shroff Also)
ABDUL RAZIQUE
(Expert) 14 April 2014
Dil mile na mile Haath milaye rakh kho,
yeh ajnabi shaher hai dost banye rakh kho.
Sudhir Kumar, Advocate
(Expert) 14 April 2014
It is you only who have intimated that being bank employee you caused loan to yourself and your brother which converted into NPA.
In these circumstances it is clear that the loan were raised without paying capacity. It is highly probable that the loans were without intention of payment.
Had you been in service these loan could have been matter of disciplinary action against you.
So the remarks of Mr Shorff are not out of air rather based on your description of facts.
SO I agree with Mr Abdul Razak
Sudhir Kumar, Advocate
(Expert) 14 April 2014
from given facts I can understand (which none could see) an illegality done against you. But I decide to keep quite for the fear of being treated like Mr Shoroff who is amongst to 10 expert of this forum
T. Kalaiselvan, Advocate
(Expert) 06 April 2014
