co-operative bank persons going for attachmnt how to stop

Dear Raju,

1. With due respects, are you a lawyer? how come you does not understand the value of receipt issued by Mr. X?

2. It is needless to mentioned that all courts or any government organization and the Co.Op. Bank will go as per documents and documentory proofs. No, Mr. X having issued receipts, those members can sue him for cheating and breach of trust. On the other hand, the bank has right to recover their dues with interest and legal expenses. Mr. X must have signed and pledged / created lien on his property for getting loan from the Co.Op. bank, or say stood gurantor for some of members. Seems so, and in these circumstances, he will have to face all legal actions being taken by the bank.

3. Your quary is not clear. Please provide such vital information, without same things remain ambuguous!

Wishing you and Mr.X all the pest!

Dear Sir,

I have read your mail and thank you very much for immediate response sir. Here one issue is there . Actually  Mr. Y the Secretary of the same  union told to Mr. X for issue of receipts and he advised to Mr. X all employees will pay the money very soon. Mr. X agreed. After that Mr. X  forgot the issue. This secretary agreed before me  also that he told to Mr. X  to give  receipts. he Mr. Y promised that he  will collect money later. Same was done. Then all the employees taken receipts. Some employees paid money . Some are balance. Here 30 employees taken loan  through the chief promotor/president of Mr. X. Every person taken 25 to 30 thousand. some was cleared their loan. some was not cleared. Now co-operative bank persons approached the chief promotor of Mr. X and Secretary, treasurer. So how can i protect Mr. X  , Y and Z from the bank sir. I have started  my law practice recently  on september ,2010. I have to utilise our forum and others advises. Please reply to me for this sir.

thanking you

The coop. society would have taken recourse to the Coop. Sciety rules for the recovery of the dues.statutory notices would have been issued tothe borrowers and the sureties before venturing to attachments of properties.All the most you can do is to make part payments and plead for extension of time with the execution authoriities.The other excuses you have mentioned are all internal adjustments which have no binding.

thank you sir thank you very much for your kind advise.

regards,

I have read your mail and thank you very much for immediate response sir. Here one issue is there .(I) ??? Actually  Mr. Y the Secretary of the same  union told to Mr. X for issue of receipts and he advised to Mr. X all employees will pay the money very soon. Mr. X agreed. After that Mr. X  forgot the issue. This secretary agreed before me  also that he told to Mr. X  to give  receipts. He (II) ??? Mr. Y promised that he  will collect money later. Same was done. Then all the employees taken receipts.(III) ??? Some employees paid money . Some are balance. Here 30 employees taken loan  through the chief promotor/president of Mr. X. (IV) ??? Every person taken 25 to 30 thousand. some was cleared their loan. some was not cleared. Now co-operative bank persons approached the chief promotor of Mr. X and Secretary, treasurer. So how can i protect Mr. X  , Y and Z from the bank sir.(V) ??? I have started  my law practice recently  on september ,2010. I have to utilise our forum and others advises. Please reply to me for this sir.

thanking you

Dear M. N. Raju,

 First of all, what ever I replied, replying is without any prejudice and I does not take any kind of liability and / or responsibility for what ever I commented / answered or will do so in future. This is your indemnity to me.  

Still it is difficult to understand what you want to say? To have proper constituted of your sentence/s, please use Microsoft Word, type your letter, save and copy paste. At some places you have broken sentence by wrongly using full point, this changes whole meaning. Any how, my answer rather comments on your own notes as in brackets followed by three question marks related to points changed in red types as above.  To understand what I am trying to tell is, first read yours then my question as below:-

(I)                 Is there any proof with X that Y has promised him that borrower members will pay money later?, Y misguided  X  rather induced him to issue receipt without receiving money?  You mentioned that Y has committed certain things in your presence, but since you are going to defend X, it does not sound good that you again stand as witness.

(II)              Y collected money later, is there proof? Say for example without payment X issued receipt on 1^st of a month, then as mutually arranged, Y later date 10^th collected money and gave to X. Now on 10^th this what ever amount was received must have been recorded in cash book / receipt side and particular borrower member’s loan a/c must have been credited. X can not keep such cash on hand as his own money. If these detail available with proof, X can take the point in his favor.  You mentioned “some was done “what this mean? Is there scope that some of these members make an affidavit confirming such transaction; I mean such member will have to give in writing by an affidavit that even though he has not paid due installments for his loan, Y got him receipt and later date he paid Rs… to the secretary Y ???

(III)             And (IV)  In addition of the guarantor’s undertaking to pay if the principal borrower fail to repay loan, the coop bank must have checked about the principal applicant / borrower’s income, ability / capacity to replay etc. You need to check all these. The borrower must have signed documents which empowers the bank to take recovery actions initially/ first against him. Please excuse me for this comment; but, don’t act as child, and submit vague quires!

Every person took 25 – 30,000 ?? I can not believe that the bank, accepter for every case guarantee given by X.  Even if X is so rich, still bank will ask rather insists for second guarantor that also preferably new person, any one other than X. Can you through enough lights on this issue and other question as above?

(V)  Congratulations for starting your own practice. Wishing you all the best for your future endeavors to get settled in the profession and become a reputed person. But dear, frankly I feel that (a) either you are being taken for ride by X   (b) you are not informed of hidden truths (c) being eager to get clients quickly, you are in hurry to take up and defend X, hence consider (a) and (b), be careful that the honorable court does not pass any strictures on you! Hoping that I am wrong in these (a), (b) and (c), in that case, in the interest your client X, keeping high sprit and dignity of the profession, please referred the case to senior advocate in you area. With my compliments, high respects and regards; wish to tell you that; seniors have four brains, four eyes and two nose, they can see hidden truths, they can think fast and much better than us, they can smell any fishy deal!

 Vague query. This is unusual transaction

For what purpose the union was formed? Staff Unions are not for this purpose they have to undertake collective negotiation with the employer on service matters and nothing to do in private life (except providing solace to successors of deceased employee)

For what purpose the loan was taken?

Why suddenly all employees needed loan of equal amount?

How much was the total loan and how much is the default and how much is the interest?

Of how much value is the property of Mr X?

What exactly was the role of Mr X, whether guarantor/agent or mere tout?

If guarantor how Bank accepted him as guarantor for those whose retirement date was much beyond his (i.e a person with less repaying capacity standing guarantor for a for son with higher repaying capacity)

If bank was creditor in which capacity Mr X was giving receipt?

Did he issue receipt only in one month or kept on issuing them?

What action did Mr X take if he was cheated?

What the recipients of receipts have to say? Are they willing to depose that they never aid and got receipts fraudulently?

Has Mr X while in service accepted the agency of bank in own name of family member’s name?

After giving receipt how does he prove that none paid him?

If they have got receipt from Mr X and not paid then he must beg before them to pay?

If the receipts are not more than 4 years old (atleast what the law in centre says which is generally followed by all Got/Semi-Govt and Local bodies) the employer can initiate disciplinary action under pension rules against Mr X.  In case other persons party to this fraud are in service they can be proceeded against. Govt servant has a liability to maintain absolute integrity even in private dealing.

I have to fully agree with Mr Bharat Gandhi?  There are many beans to spill. Mr X does not appear to be innocent at all. You are advocate and do not know that such sales of property is there overnight I(except Hindi Cinema where hero or heroine stops the execution) . Either there is a court decree which either you are not mention or has not been told to you.

No wonder if the Bank Manger is hauled up by the Board for not initiating FIR against Mr X for issue of fraudulent receipts.