Regarding our matter of NPA and OTS for the same

KINDLY NOTE THAT EVERY YEAR END IN MARCH MOST OF THE BANK COME OUT WITH ONE TIME PAYMENT SCHEMES FOR NON PERFORMING ASSETS.YOU MAY WRITE TO THE BANK.YOU WILL SAVE CONSIDERABLE AMOUNT.

YOU MAY ALSO FILE A WRIT PETITION IN THE HIGH COURT FOR THE SAME.YOU WILL SUCEED.

YOU MAY WRITE AND SEND DETAILS FOR FURTHER HELP.

GOOD LUCK.

NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE

MOBILE.9271971251, 9960223100

e.mail.adv.nbsawant@yahoo.co.in

e.mail.nandkumarbs@sify.com

Sir

Our matter is as below. We had taken a loan of 1 lakh in 1995 against shares of one blue-chip company. We were regular in paying the installments. But later our bad situation made us to stop the installments since early 2000. In 1999 the bank has already given us lien-mark cancellation for those share certificates. But we did not use it to get our share certificates back. Subsequently in late 2004 this was declared NPA. and the amount of NPA was 1.73 lakhs. In early 2005 i deposited 50k and got few shares released. Major shares are still lying with them Note I had given dividends mandate to this bank and same account number.So dividends were coming in this account every year. Now in early 2009 the bank has made PWO(Partial Write Off) for 92k. The bank is asking for compromise for an amount of 60k, as of now. They say they are settling this matter for 60% on the NPA. Sir let me give you my calculations. NPA, amount= 1.8k Cash deposit in 2005= 50k dividends since 2005=41k So if they are setting this case for 60 % of NAP(1.8k)=1.08 lakhs Then I should be entitled to pay only 1.08 - .91=17 k. They are currently asking for 60 k. Hence i seek your advice how to negotiate. Further do let me know that whether they are entitled to add interest charges also at the time of settling the account.

Regards