Ksfe ltd
moosa
(Querist) 22 December 2015
This query is : Resolved
sir,
KSFE LTD provide loan (against Chitty)to the non prized subscribers against security
As per the manual for NCL is to be charged only up to the 30th day from the date of the auction of the Chit
I have two tickets Rs 5 lacs and Rs 1 lac from which availed Rs 250000 and Rs 50000 respectively Total Rs 300000, against a house property security worth Rs 600000 for which a value fixed by KSFE Ltd
i have auctioned a ticket of Rs 5 lac @ Rs 375000.
For closing both the loan accounts only Rs 360000 was required
Future liability on the prized ticket was Rs 310000(Rs 5000 x 62 months)
Balance in prize Rs 15000 + eligibility on secured property Rs 300000 total Rs 315000 was sufficient security for the future liability
On bid they did not release my prize money.they asked for an additional security Rs 60000(future liability in the auctioned ticket Rs 310000+ my second loan Rs 50000 total future liability Rs 360000!)
It was a fabricated deficiency
It was possible for them to close the second loan with the balance amount or was possible to consider the amount as an additional security
If deficiency,as per rule mentioned in the gazette (or in variola or as per central act)KSFE will have to deposit my prize amount in a bank and will have to inform me.they have violated the rules
my prize amount did not carry any interest ksfe forfeited my prize amount towards the future liabilities of the prized ticket and issued RR on loan accounts
it is a clear violation of MOP and Gazette rules.
It is a day light robbery of KSFE Ltd with the Government support it is all difficult for the subscribers to proceed against the company
I have paid Rs 190000 as subscription and Rs 25000 as interest Total Rs 215000 and availed a loan of Rs 300000 Now as per RR I have to pay Rs 300000 + interest from the year 2003
My demand in CDRF,Calicut was to close my loan accounts and to accept Chitty installments
My case dismissed by CDRF and state commission. The Honourable courts didnt check the version filed by the Op or the details of accounts but considered false affidavit,which was entirely different from their version!
please let me know possibility of filing a criminal suit against them for submitting false affidavit(by Govt servant) during the court proceeding.
ktmoosa2015@gmail.com
Dr J C Vashista
(Expert) 25 December 2015
Too long a story and not a query to be advised on this platform; be brief and precise or contact, consult and engage a local lawyer for proper analysis, guidance and proceeding on payment of fees in a professional manner.
Rajendra K Goyal
(Expert) 25 December 2015
Show all documents to your lawyer and discuss in detail.
T. Kalaiselvan, Advocate
(Expert) 01 January 2016
As suggested by experts, you may consult a local advocate wit all the relevant papers/documents and take his opinion in person about the next step to be adopted.
