Senthil Rajkumar S 01 September 2018

Bank e auction

We have been issued 13(2) & 13(4) by the bank. The bank themselves have gone to DRT for OTS settlement. We have remitted a portion of the OTS amount a year ago. But after that we are in the process of fetching funds till now. Presently they have given time till Sep 15, 2018. Kindly advise me what to do next. We have pledged our company property, house and a plot. beyond that we do not have any property. If this goes in auction we all will in streets. Kindly help us.

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G.L.N. Prasad (Retired employee.) 01 September 2018

Bank has not lent you the money from their coffers and they have to refund that amount to depositors on demand, and they can not remain silent, when the present trend is only on recovery.

Contact Bank officials as the matter is already under DRT. When you have no source of income, the Bank may be thinking to recover the money at the earliest,.

There is no litigation involved and it is in between you and the Bank, and appreciate the fact that Bank can not sympathize or lenient on your personal financial problems, as they are accountable to Public.