Non payment of fee to enforcement agent by the banks

NARESH KUMAR GARG (Querist) 09 July 2013 This query is : Resolved
I AM RUNNING AN ENFORCEMENT AGENCY UNDER THE NAME AND STYLE "BRISK RECOVERY SERVICES PRIVATE LIMITED '

OUR cOMPANY IS EMPANELLED WITH A NUMBER OF BANKS AS AN ENFORCEMENT AGENT FOR RECOVERY OF BANK'S NPAs UNDER SARFAESI ACT .ONE OF THEM IS BAGHAT URBAN CO-OPERATIVE BANK LIMITED WITH HEAD OFFICE AT Solan . THE BANK IS NOT PAYING OUR LEGTIMATE FEES AND IS MAINTAINING SILENCE FOR OVER ONE YEAR . NO REASON FOR WITH HOLDING THE FEE IS EVER ADVISED TO US. WE WROTE SEVERAL REMINDERS TO THE BANK MD AND ALSO SENT LETTERS TO REGISTRAR CO-OPERATIVE SOCIETIES AT SHIMLA AND ALSO TO THE GENERAL MANAGER URBAN CO-OPERATIVE BANKING DEPTT AT RBI CHANDIGARH . THEY TOO HAVE NOT RESPONDED . WE DO NOT KNOW TO WHOME SHOULD WE APPROACH FOR RECOVERY OF OUR LEGTIMATE DUES ? WOULD IT BE APPROPRIATE TO FILE A PETIOTION WITH BANKING OMBUDSMAN / OR IN CONSUMER FORUM ? AS IT IS A CASE OF UNFAIR BANKING/TRADE PRACTICES ADOPTED BY THE BANK ?

WOULD ANY BODY PLEASE GIVE HIS/HER EXPERT ADVICE.

N.K.GARG

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Guest (Expert) 09 July 2013
Have you entered any agreement with the co-op bank? If so, check the terms & conditions. If arbitration clause is there, invoke that clause to get the arbitrator appointed.

If not entered in to any formal agreement, what was the basis of your working for and on behalf of the co-op bank?

Rajendra K Goyal (Expert) 09 July 2013
Send legal notice demanding the fees and if not paid File arbitration or civil case as per the terms of the agreement.

Bank must have issued the instructions and authority to recover certain identified NPAs and the list with authority must have been forwarded to you. Under SERFESI Act main role is of the concerned Bank. What fees was mentioned in the forwarding letter / agreement and in what manner. You must have been having proofs of recovery made by you in the entrusted NPA accounts. You should mention all these details in your notice.

Raj Kumar Makkad (Expert) 11 July 2013
Well advised by the experts.

Sudhir Kumar, Advocate (Expert) 12 July 2013
wait.

What was the contract intended for.

Generally the recovery agents are employed to threaten the people and extort payment. That being the case the object was illegal and not enforceable.

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