Suit by co-op.bank
kishorchandra p mehta
(Querist) 08 August 2016
This query is : Resolved
Sir,
I give hereunder the details of case in which I would like the guidance that whether can I approach any forum for filing suit against bank . like 1) District court, 2) Grahak Suraksha 3)Banking Ombudsman 4) RBI 5) Any such other forum ?
DETAILS OF THE ISSUE;
= I had joined co-op.bank on 13.5.2002 as manager.& resigned on 30.6.2006 - On 30.3.2005 I was granted Housing loan of Rs 3,70,000/-@ 5.75% with fixed inst.of Rs.3000/-p.m.
31.3.2008 Loan was increased from 3,70,000 to Rs 5,75,000/-with int @ 5.75%
11.2.2009 Bank, by a letter, informed me that rate of int.is increased from5.75% to 9.75% with effect from 1.4.08 for which I executed documents accordingly.
2.4.09 Loan was further increased from 5,75,000/- to 6,74,000/-@ 9.75% for which I executed documents accordingly.(This was also a fixed rate loan)
3.11.10 Bank suddenly unilaterally, wrote to me that rate of interest is revised from 9.75% to 13.75% from retrospective effect of 1.7.2007.
7.12.10 I objected and rejected the contents of the above letter dtd 3.11.10 in writing and requested to allow me to pay the continued instalment of Rs 6000/-p.m.which I have contined paying till date and bank also has accepted the instalments till date.On
13.3.2015 Bank suddenly filed Summary Lavad Case in Board of Nominees Rajkot, asking me to pay the dues Rs_8,87,929/- with interest @15.75%from 1.1.15_.I have also filed reply stating the facts. The case is pending with Board of Nominees,Rajkot.
Kindly guide me at the earliest. Thanks. K.P.Mehta.
malipeddi jaggarao
(Expert) 09 August 2016
You have already filed reply in the Summary Lavad Case in Board of Nominees. Wait for the outcome of the case.
kishorchandra p mehta
(Querist) 09 August 2016
Shree Malipeddisir,
Thanks for prompt reply.
I would like to know what would be course of actions agailable to me if bank wins the case.,and I want to challenge the judgement.
Thanks.
K.P.MEHTA
Rajendra K Goyal
(Expert) 09 August 2016
If Bank wins the case, you can go for appeal.
Kuummaar AS
(Expert) 16 October 2016
kishorchandra p mehta,
WHAT ENJOYMENT YOU GET IN RAISING QUERIES LIKE THIS?
Plase see following at
http://www.lawyersclubindia.com/experts/Purview-of-courts-co-op-bank-s-rights-620171.asp
In first 1st Point you have said.
"1) IF ANY EMPLOYEE OF CO-OP.BANK, RESIGNS WHAT WILL BE HIS STATS, WHETHER AS EX-EMPLOYEE OR PERSON OF GENERAL PUBLIC, SO FAR HIS EXISTING LOAN IS OUTSTANDING AND IS CONTINUED AND INCREASED AFTER HIS RETIREMENT."
It is not understood, how such an employee will be relieved without clearing the loan. Come out with full facts with terms and conditions on which loan was granted.
In the second point you have said
"2) AFTER RETIREMENT IF ANY LOAN IS GRANTED OR INCREASED, WHETHER HE SHOULD BUY SHARES AND BECOME SHAREHOLDER OF THE BANK, AND IF NO SHARES HAVE BEEN BOUGHT, EVENTHEN, BANK HAS GRANTED/INCREASED LOAN, THEN WHAT WILL BE PURVIEW OF COURT,WHETHER BOARD OF NOMINEE OR CIVIL COURT?"
Hoe can loan be granted after retirement, age for which is normally 58 years or 60 years. Further, what is the relation of shares?
Please elaborate your query and what do you mean by 'GRANTED OR INCREASED LOAN"
In the third point, you have said,
"3) IF BANK HAS FILED CASE IN BOARD OF NOMINEE AGAINST HIS EX-EMPLOYEE AFTER 9 YEARS FOR RECOVERY OF ENTIRE OUTSTANDING OF HOUSING LOAN AMOUNT AND THAT TOO WITH INCREASED RATE OF INTEREST WITH RETROSPECTIVE DATE OF HIS RETIREMENT,EVEN IF THE LOANEE HAS PAID REGULAR INSTALMENTS TILL DATE AS PER EXECUTED DOCUMENT, WHETHER THE ACTION OF BANK IS LEGAL ? AND WHETHER,BOARD OF NOMINEE SHOULD DISMISS CASE TREATING IT AS CIVIL DISPUTE.?"
You have to elaborate your query for getting proper advice to this point.
MAY DO THE NEEDFUL, IN CASE YOU NEED APPROPRIATE AND MEANINGFUL ADVICE.
Rajendra K Goyal
(Expert) 16 October 2016
Repeated query:
http://www.lawyersclubindia.com/experts/Purview-of-courts-co-op-bank-s-rights-620171.asp
Kuummaar AS
(Expert) 16 October 2016
kishorchandra p mehta,
Please answer
WHAT ENJOYMENT DO YOU GET IN RAISING QUERIES LIKE THIS?
