Illegal and criminal extortion of money (sbt now sbi)
Mathew
(Querist) 11 June 2017
This query is : Resolved
We had availed a loan of Rs. 22 Lakhs from SBT (SBI), Kerala in December 2009 repayable with an interest rate of 13.25% per annum for a period of 5 years (60 instalments), last of which was paid in November 2014.
After 3 months, we asked for loan closure certificate from the Bank. To our surprise, the bank started demanding Rs.3.56 Lakhs from us saying it was due from us. We repeatedly asked them as to how this big amount is due from us. The Bank could not give any satisfactory reply to us. They went on demanding huge amount by issuing threatening property confiscation notices. So, we filed a complaint against the Bank with the Banking ombudsman, Trivandrum. The said Ombudsman asked the bank to recalculate our account and on recalculation, the Bank returned the excess amount of around Rs. 19,387/- recovered from us to our Loan account as they say (They are supposed to credit the amount to our savings account but instead chose to credit into the loan account). Inspite of all this, the Bank went on demanding huge amounts defying Banking ombudsman. I had appealed to Banking Ombudsman again to enforce their decision. They gave us reply expressing their inability to help us in this matter. If they cannot enforce their decision, what is the necessity of such an institution? The Bank defied the orders of the ombudsman and declared the loan as NPA (Non-performing Asset) in the latter half of 2015 and applied SARFAESI ACT on us and issued confiscation notice on our property. The said Act can be applied only if there is default of instalments for a long time. In this case, they have resorted to SARFAESI ACT after ALL the instalments have been paid. This is nothing but criminal extortion of money.
We have another housing loan and we are paying all the instalments regularly on their own admission. They have even declared this loan as NPA and clubbed it together.
Being aggrieved we approached the honourable high court, EKM for redressal of our grievance.
I am regretted to say that the Honourable High Court has advised us to seek other ways of remedies to settle the issue. They did not dismiss the case but merely advised us to seek other remedies.
Monthly instalments of Suvidha loan actually comes to only Rs. 50,400/- per month. We have paid Rupees Thirty Lakhs and ninety-six thousand (Total) and dues comes to only Rupees Thirty Lakh and Twenty-Four Thousand (Total). We have paid an excess amount of Rupees Seventy-Two Thousand as is seen from statement of accounts. In addition to this, they have resorted to Publication in a newspaper threatening us of confiscation of our property thereby defaming us unnecessarily among our natives, relatives and friends.
I am a poor widow and living alone and struggle to survive with a small amount of money that my daughter sends me. We are all unnecessarily tortured by the bank and are under constant threat, tension and worries. I am frequently hospitalised for treatment due to all this mental pressure. The Bank at any time might take illegal steps and resort to confiscation of my small plot of land and house.
I have calculated the total amount that I have paid to the Bank from the account statement supplied by the Bank. I can provide the copy of Bank account statement and also my calculation as per account statement of the Bank. The monthly instalment actually comes to Rs. 50,400/- only. Hence the total amount due to the Bank is only
Rs. 30, 24000/-. It is seen as I have stated earlier that I have paid Rs.72,000 more than required. They are illegally applying SARFAESI ACT which is NOT applicable in this case because the LOAN NEVER EXISTED after November 2014.
We possess Evidence of all the Bank statements and other Banking documents, Including Ombudsman order.
Please advise of the following:
1) How to proceed under CrPC 383 and to stop the Bank from proceeding under illegal Application of SARFAESI ACT?
2) How to file defamation case against the Bank for SARFAESI ACT Publication in the newspaper?
P. Venu
(Expert) 11 June 2017
The priority is in resisting the SARHAESI proceedings for which the papers needs to be perused. The defamation case can wait.
Kumar Doab
(Expert) 11 June 2017
"We possess Evidence of all the Bank statements and other Banking documents, Including Ombudsman order,"
Agreeing with views of Shri P Venu........The defamation case can wait.
Mathew
(Querist) 06 July 2017
We have filed a Civil Suit for the above matter in the Civil Court which has been admitted. Can we file a petition for the same matter before the National Consumer Disputes Redressal Commission (NCDRC) now? Will it amount to sub-judice? Please clarify. NCDRC is a quasi-judicial commission as it states on its website - http://ncdrc.nic.in/.
Kumar Doab
(Expert) 06 July 2017
The query has received responses in Forum also.
Pool all responses and approach a very able local senior counsel specializing in such/civil matters, consumer matters for a considered opinion.
