DRT HOME LOAN OTS....
Querist :
Anonymous
(Querist) 31 May 2011
This query is : Resolved
hello ! I HAVE TAKEN HOME LOAN FROM ICICI BANK AND DUE TO DEFAULT THE BANK HAS INITIATED ACTION AGAINST ME UNDER SECUTERISATION ACT i.e. 13/2 and 13/4.. AND NOW THE MATTER IS PENDING BEFORE THE DRT. I AHVE APPROCHED THE BANK FOR SETTLEMENTBUT ICICI BANK HAS GIVEN ME STATMENT IN WHICH THEY HAVE INFLATED THE STATMENT LIKE BELOW
ACCOUNT 1)
Principal 0/S : 834,091.00
Late Payment Penalty : 387,687.00
Cheque Bouncing charges and Other charges : 3,335.00
Interest for the month . 8,257.60
Prepayment charges @ 2.21% at 0/S Principal : 18,433.41
Pending Installment . 658,448.00
Refunds : 0.00
Total Amount Payable : 1,910,252.01
ACCOUNT 2)
Principal 0/S : 1,222,947.00
Late Payment Penalty : 832,245.00
Cheque Bouncing charges and Other charges : 1,551.00
Interest for the month . 12,433.60
Prepayment charges @ 2.21% at 0/S Principal : 27,027.13
Pending Installment . 1,394,416.00
Refunds : 0.00
Total Amount Payable : 3,490,619.73
I WANT TO SETTLE MY ACCOUNT AS MY FRIENDS AND RELATIVE ARE GOING TO HELP ME FOR THE SETTLEMENT.
PLEASE GUIDE ME HOW TO DO OTS AND GUIDE ME HOW TO GET CONCESSION IN LATE PAYMENT PENALTY AND PENDING FUTURE INSTALMENTS...
THE BANK PEOPLE AND THE LAWYERS ARE PLAYING HIDE AND SEEK GAME TO EXTRACT MONEY WITH OUT DOING THE OTS AND THEY ARE CLAIMING THAT THE OTS IS NOT POSSIBLE AS THE VALUE OF THE PROPERTY IS MORE THAN THAT OF LOAN AMMOUNT.
PL GUIDE ME AS EARLY AS POSSIBLE..
kind regards
Guest
(Expert) 03 June 2011
In your case existence of both, the principle outstanding and the pending installments are not understood. Secondly, unless you mention the original amount of loan and the total payments made, nobody can understand from the one sided figures provided by the bank.
However, if the concerned bank people and the lawyer are playing hide and seek policy with you, why not you approach directly the manager of the bank and discuss your problem? If still you do not get the solution to your problem, you can safely presume that they would be interested in bribery. In that event you must contest the case to bring out the blackmailing and harassing attitude of the bank officials and that when you are ready to settle the case, only they are not interested to clear the debt of the bank.
Advocate. Arunagiri
(Expert) 03 June 2011
You can present your case before the DRT. On paying a nominal amount you can get a stay, the bank had issued a sale notice.
If the interest is inflated, the DRT will pass suitable orders.
You present your case in DRT through a counsel having experience in handling the DRT matters.
