Loan a/c has become npa
Rajeev Varshney
(Querist) 24 May 2014
This query is : Resolved
Sir,
We are putting our problems as follows before Hon'ble sir for better solution
1. => That Chandrakanta Banarsi Dass Public Society has applied for loan from SBI (SME) Branch Aligarh for establishment of primary education institution which is to be opened in the name of Rapid International Academy and project was submitted to the bank for worth Rs. 13 Crore.
2. =>That concerned bank has sanctioned on 20-02-2010 on Rs. 2.80 crore and assured to pay the balance after some time. We have invested a huge money worth Rs. 7 Crore in the construction of building and other equipments and the Institution had started in the year 2011-12 and continued upto 2012-13 but due to financial crises institution could not continue for further period as bank did not support us and had totally refused to pay the balance amount as per project.
3. =>That we have deposited about worth Rs. 1.70 Crore to the bank. The accounts of bank are not maintained regularly in the course of business. The bank has failed to comply its assurance as given prior.
4. =>That our account recorded as NPA on 30-09-2013 at the amount of 2.57 crore and notice under section 13 (2) of Sarfaesi act was issued. We have replied the same in time, but no relief was given by the bank. Then we have filed S.A. in the year 03-03-2014 before D.R.T. Lucknow. The bank has also filed O.A. against us before D.R.T. Lucknow. No reply was even filed by the bank in S.A. though many dates have been fixed by the Tribunal for filing objection.
5. =>That an O.T.S. proposal was given to the bank through D.R.T. Lucknow to settle the case in worth Rs. 2.25 Crore but the bank did not accept the same.
6. =>That are all properties are mortgaged in favor of bankhaving present market value worth Rs. 15 Crore, as per bank value arrives about 11 Crore, now bank is threatening to us that we would not compromise in this case as more costly properties are mortgaged in bank’s favour.
There are following grounds of default on behalf of bank:
(a) -->That bank did not mention all the properties in notice 13(2) and afterwards bank has issued Notice U.S. 13(4) disclosing all the mortgage properties though in section 13(2) all mortgage properties are not disclosed.
(b) -->That no notice under section 13(2) and 13(4) were sent and served upon guarantor’s address.
(c) -->That in our account some amount was falsely debited the bank.
(d) -->That bank is not accepting our O.T.S. proposal as given by us for settling the account for worth Rs. 2.25 Crore
(e) -->That Bank is proceeded further in recovering the arbitrary amount against us and a possession notice was posted upon the property on 18-01-2014.
Kindly provide better solution in our interest so we can relieve the facing problem as on today.
I will be highly obliged.
With Thanks
Rajeev Varshney
President
Chandrakanta Banarsi Dass Public Society
+918881525251,varshney.k.rajeev@gmail.com
ROHIT SHARMA
(Expert) 24 May 2014
1. The matter is receiving my attention and the case details need to be studied in depth and so instant reply cannot be given.
2. i have tried to call you on the mobile number mentioned but could not get connected.
3. If i receive your call then i would indeed pursue to study the matter more intently and purpose orientated.
Adv. Rohit Sharma.
(B.Sc. L.L.B. L.L.M.)
(M) : 0-9824047971.
E-Mail : laqwgate1349@gmail.com
RAJU O.F.,
(Expert) 26 May 2014
Bank cannot issue possession notice u/S13(4) for the properties which are not included in the Demand Notice u/S13(2).
If bank debited any amount illegally to your a/c DRT can pass Order to reverse such amounts.
Court cannot compell bank to accept OTS.
engage an expert lawyer and agitate all your grievances before DRT to stop bank's actions.
uttamtibrewal@yahoo.com
(Expert) 26 May 2014
dear client...
more detail study is required so kindly send me the documents , SA , Ws and other paper so that proper suggestion can me made after proper study....
T. Kalaiselvan, Advocate
(Expert) 26 May 2014
