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Author :
subhash
Posted On 13 June 2012 at 15:36
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Ours is a partnership cos comprising of 3 partners, out of which 1 partner is absconding with funds of upto 10 lac. due to which business comes to a stall as he has know-how. We had availed loan of 15lacs loan under CGTSME Scheme (where the bank is supposed to finance without guarantor under this scheme)whereas the bank has charged the fee for the scheme as well as kept a guarantor. Now we want to file a case with the banking ombudsman but we need an advocate who has bank legal knowledge.we have taken neccesary action against the absconding partner and have also suggested the bank regarding the repayment of loan but the bank is insistent on going by its own procedure.
Please advice or may even suggest advocates
in mumbai near chembur
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Expert :
ajay sethi
Posted On 13 June 2012 at 16:13
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have you filed police complaint?
if partnership firm has availed loan then the firm is liable to repay the loan of 15 lakhs with interest .merely the fact that a partner has absconded is no reason for refusal to repay the loan .
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Expert :
Adv. Bharat Chugh
Posted On 13 June 2012 at 16:31
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Any funds acquired by partner in his authority as a partner later misappropriated or siphoned off, the firm is liable for the same to the bank, and the bank can proceed against them.
If the bank is otherwise behaving arbitrarily and in disregard of rules you can proceed against the bank in the ombudsman
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Expert :
SAINATH DEVALLA
Posted On 13 June 2012 at 16:57
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Dear Subhash,
When your firm has availed loan rom a financial institution,the firm is liable to be a party in clearing off the debt whether all the partners are there or not.When you are a defaulter,how are you going to file a case with th e Banking Ambudsman,your complaint will be rejected outrightly.They will accept if you have any grivience or deficiency in service rendered.Go to the regional office of the bank,meet the concerned officers and pray for time to clear off the outstanding dues.They will certainly give time,but only till it becomes NPA.You cannot escape even if you are sanctioned under Credit Guarantee Fund Trust for Micro and Small Enterprises Scheme.
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Expert :
JANAK RAJ VATSA
Posted On 13 June 2012 at 20:58
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the loan amount is required to be paid to the bank despite the fact that one of the partners is absconding. for a lawyer dealing with banks, go to pathlegal site and search for mumbai
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Author :
subhash
Posted On 14 June 2012 at 15:25
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Thank you all for the advice....
Now we want to proceed to ombudsman because we have give the bank an offer to make the neccessary repayments by selling the machinery and paying the remainder in instalments ...but they dont even want to reply but just take action.
please suggest me a lawyer
thanks
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Expert :
ajay sethi
Posted On 14 June 2012 at 15:28
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make an offer under OTS scheme . banks have lot of NPA s will settle .
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Expert :
SAINATH DEVALLA
Posted On 14 June 2012 at 16:10
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Your case is not valid with the Banking Ambudsman,as you are a willfull defaulter,as far as the bank is concerned.Hence the only option left with you is to go for OTS or ask time to clear the liaility in instalments.Your account must have already been NPA.
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Expert :
Shonee Kapoor
Posted On 17 June 2012 at 17:50
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Bank is right in its approach.
My brother steals my borrowed money, does not mean that I doesnot have to pay the money back.
Go for settlement.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
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Expert :
Shonee Kapoor
Posted On 17 June 2012 at 17:55
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Bank is right in its approach.
My brother steals my borrowed money, does not mean that I doesnot have to pay the money back.
Go for settlement.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
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