Payment of ots dues
pandarinath
(Querist) 03 April 2015
This query is : Resolved
Respected sir,
MY ACCOUNT is declared as NPA,subsequetly i
have applied for OTS on 14-3-2014 and fix the total for 105 lakh.approval granted for
125 lakh.iam not aeecpting the approvel and requesting the bank settle the amout for 105 lakh.for that iam paying 18,50,000 as an advance and requesting for the release of the secured ag prorety.subsequently i have paid 28 lakh up to 18-3-2015.i received OTS agreement on 18-3-2015 with past date 13-2-2015. and fixing the total OTS WAS 110LAKH.i accepted that agreement and requesting for resonable time for re paymet of remaining 60 lakh.rejecting my request
and forced me to repay the due within no time.bank herrasing me ,i repetedly requesting the bank for six time for the disposal of prorerty for repaying the due 60
lakh.sending SMS TO MY CELL PHONE i am giving notice under safarsi and auctioned the secured prorer ties.please suggest valuble remidies for grantig six months time for re payment of OTS due.what is rule position for granting time re payment of OTS due.OTS agreement is attached with this letter
thanking you sir
Dr J C Vashista
(Expert) 04 April 2015
Such commercial query should be consulted with a local prudent lawyer which you can afford for proper evaluation, analyzing, guidance, advise and proceeding in a professional manner.
T. Kalaiselvan, Advocate
(Expert) 08 April 2015
You take the help of a local lawyer, talk to the bankers once again for restructuring explaining the difficulties and seek their time, if they do not agree to your request, you may approach the higher officials fo the bank with your request.
