FAIZ SAUDAGAR (Dy.Mgr) 21 July 2019
G.L.N. Prasad (Retired employee.) 22 July 2019
The procedure followed by the Bank is legal and proper as per laid down procedure.
There is no relationship in betweeen a pledge of gold jewels loan and dues to Government.
The bank has to obey the statutory stipulations and must remit the amount to tax authorities as per obligations.
They have enough security for the loan outstanding as it is secured by Gold jewels which can be auctioned without going to court, in case of default.
SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 22 July 2019
Bank need not ask you to pay the amount as they received an order from Tax Authorities. The procedure followed by the Bank is perfect.