Drt decree amt payment reg

Software Consultant

DRT passed order reducing bank's claim. Bank is not cooperating for OTS citing pending Consumer Forum case where NBW was issued against bank for non-compliance. I am prepared to remitt decree amount but to whom ? To Bank's GPA Holder in his name or the Home Loan Account or Concerned Debt Manager in his name? By Cheque or DD or Cash ? Should I insist for return of mortgage docs, closure letter and NOC against remittance of payment ? Thanks.

 
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Retired employee.

Please draw a demand draft in the name of the Bank, writing a covering letter providing details of DRT and ask them to credit in your account, send them preferably through Advocate to the Bank.

Depending on their written  response you can proceed further.  Crediting any amount to your acccount is your right.  Banker has to accept and keept it in a separate account like Suspense, or Sundry deposits and later they can take a decision.  A simple NBW from DCF can not bar the bank in accepting a credit.


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Retired employee.

Also mark copies to the DRT.  In your covering letter you have to invariably mention he efforts made by you for crediting of the account, and the reaction / reply for such non acceptance from Bank.  In otherwords you should appear clean in honouring DRT orders and depending on response you may even contempt of DRT orders against Bank, if the bank remained silent and has not gone for further appeals against DRT order.


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Software Consultant

Thankyou Shri GLN Prasadgaru. Can I take DD in favour of bank name followed by home loan account number or just bank name? Thanks in advance.

 
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Retired employee.

Name of the bank and Name of Borrower:  EX  State Bank of India A/c  Home Loan account No......of ......Raghavender .............

As it is presumed that you are proceeding through Advocate I have not given more details but invariably demand for return of original title deeds and NOC within a week.

 

Wait for 15 days and then issue notice to Bank informing them even after receiving the entire loan amount as per DRT orders, original title deeds, with NOC were not returned to borrower which amounts to deficiency of service and the borrower is prevented from availing finance on mortgage with such title deeds.

Wait for a month and then file complaint before District Consumer Forum for deficiency of service as it was specifically ruled in several NCRDC decisions that not returning original title deeds after receiving lent amount is  deficiency of service.


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Software Consultant

Thankyou Shri GLN Prasadgaru. I truly appreciate your time and value your guidance. 
 

 
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Software Consultant

SIr,  I want to pay full amount payable as per DRT decree but contest my case before Consumer Forum. The bank is not agreeable and wants Consumer case also to be withdrawn without any consideration. Please advise on this point. Personal decree against me has been rejected by DRT.

 
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Retired employee.

You are a borrower and abiding the orders of DRT as dutiful citizen.

They can not force you to enter into compromise etc., against your wishes.

Please consider pros and cons, when once a superior authority decides a case and gives final verdict, there is  no question of not agreeing with lawful orders of such authority, it amounts to contempt.

Believe me, and follow guidance, as there is no loss to you except few rupees on stationery and postage expenses.   

Tomorrow, they may turn the tables against you  stating that you have not obeyed the orders of DRT.

A Banker is supposed to accept any credit in the borrowal account and file objections if any in response to such letters., stating such legitimate reasons for disregarding the orders of a lawful authority.

 


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Software Consultant

Thankyou Sir, I shall follow your advice. Regards.

 
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Software Consultant

Shri GLN Prasad garu,  As per your advice, I have issued cheque payment in compliance with DRT decree with due interest as stated by bank, while pressing for things in my interest. The bank replied through email saying they would accept my payment only if I completely settle with them including the case before Consumer Fora where execution for NBW against bank has been stayed with appeal pending before National Commission. For no fault of mine I ended up paying 60% more before DRT due to infirmities induced, maintained and reluctance to rectify despite specific court direction by bank. I also need to file an FIR and another criminal case against the concerned officials for agreement tampering. I wish to keep DRT and Consumer case separate and am only willing to settle finally if I get the 60% swell amouunt. Your further advice in this regard is highly appreciated. Thanks in advance

 
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