Credit card default

Originally posted by : N.MOHAN
	Yesterday I attended the Arbitration proceedings. Before that I sent a letter as suggested by you thro' RPAD (Copy attached) .From Kotak and the lawyer for Phoienix also attended and told me that ABN card only they referred as RBS. But, quickly I told them that I had the card from 2005 & at that time no Arbitration Clause. They argued it is included in card Terms & conditions. I asked the signed agrrement copy by me & also all the bills & vocuchers. They said they can't give & that is confidential. I clearly told them they must produce all the copies. They given some statment in Excel sheet. They come forwad to negotiate. But, it is more than 9 years & Idon't remember anything and asked the copies reqqyuired. Now only I checked my cibil report. Phoenix reported in 31st July 2016 as written-off Rs 27,537, what they are claiming now. Whether it is right to revoke and sent it to Arbitration? Kindly guide me as you have done earlier.

This time you have posted that: "But, quickly I told them that I had the card from 2005 & at that time no Arbitration Clause. '

Your 1st post and last post are entirely different.

In your 1st post you have posted you never possesed any CC issued by them.

In your last post you are accepting that you had CC since 2005.

What is this?

Sorry you have mistaken.I have said I don't have RBS card, I already attached their lawyers notice also. They mentioned, I applied for RBS credit card. Due to my heavy business loss due to recession in 2008, I became defaulters in certain cases. Still I paid all the dues upto April2009. Afterwards all my sources exhausted. But. even then till such period ABN not taken over by RBS. Moreover in their notice they told I have signed the RBS credit card application. ABN taken over by RBS after 2009 only.So that I denied that I didn't received RBS card. After 2007, I have not receicved any credit card from anybody. They also typed all the places as Barclays then corrected As RBS by pen. Same thing I clearly mentioned in the petition to Arbitrator also. I never writtne anything contradictly. Kindly once again go through the 2 attachments already sent. Hope I clarified to some extent. ABN card was issued in 2004-05 and almost I have paid. Since April 2009 they have charged int., penal int. etc & brought to 27537. that too they are written-off in 2016 as per my cibil report. That is wy I asked how can they refer to Arbitrator for written off amount. More over in 2004-05, no arbitration clause in ABN MITC. Sorry for the any convinience caused due to my way of writing the things. Thanks for your helping hand.

From                                                                                                                      

N. MOHAN,                                                                                                 

Meeraj Apts,

3/7, Baroda 2nd Street, West Mambalam, Chennai-600033

To

Mr. M. Sambasivam                                                                                 

District Judge (Retd)

Sole Arbitrator

                                                    Arbitration between

Phoenix ARC (P) Ltd                                                                                            ….CLAIMANT

AND

N.MOHAN                                                                                                                    ….RESPONDENT

 I have received your Notice for the 1st sitting of the Arbitration proceedings will be held on 25/5/17  at the venue, Apt. No 2, 1st floor, “ Swathi Subhadra” 6/51, Sir Madhavan Nair Road, Mahalingapuram, Chennai – 600034.

Respondant submits as follows:

1. I have received a legal Notice dt. 28/04/17, from an Advocte  Mr. M.V.  HARI RAM,through RPAD from the address  No 4, IInd Floor, “Swathi Subhadra” No 6, Sir Madhavan Nair Road, Mahalingapuram, Chennai – 600034, on behalf of Phoenix ARC (P) Ltd, Claimant that I have applied RBS Credit card and the bank issued the credit card no 0005239504000883416 based on my  submission of documents, Agreement copy etc.,and availed the credit facilities.

Further they states that they are in custody of the application, declaration and agreement entered into by me at the time of availing facility.

They claim the outstanding amount of Rs. 27536  as on date and ask me to pay with interest within 7 days of receipt of this notice, failing which the same will be referred to the Arbitration of a Sole Arbitrator.

2. I have denied  all their allegations in my reply Notice dt 03/05/17, through my advocate  Mr. Paramasivam.  Further, I asked all the copies of documents where  they relied upon in their custody.

Sofar, I did’t receive any copies as proof of their claim.  But,without adhering to any Norms and as pre-determined referred this to Arbitration.

3. I request you to let them furnish me the authenticated copies of RBS bank Credit Card Issuance form signed by me, KYC documents, any agreement signed by me for Arbitration clause, Card delivery report/proof, charge slips signed by me, Bills of each month and delivery report/proof of each Bill and other related documents as well.

4. I have enclosed the Notice sent by them and my reply notice for your perusal.

Their notice contains full of mistakes & corrections & confusing the subject by mentioning Barclays bank everywhere and strike out in certain place and written in pen as RBS.

It is therefore prayed that Arbitrator may be pleased to dismiss the Claimant petition and thus render justice.

Yours faithfully,

N.MOHAN

Place  : Chennai

Date   : 24/5/2017

Encl : Notice Sent by Claimant & Reply Notice sent by Respondant.

CC : RBI Governor, Mumbai

        Chief General Manager, Dept. of Non-Banking, Mumbai

Find the attachment of their lawyer notice

Your earlier 2 atachments could not be downloaded.

At point:5:  It mentions MITC at website.

At point:2: It mentions, otherwise i.e;  MITC  already signed with you.

Where is the copy of MITC signed with you/by you?

Do you have it and want to quote from it?

Has ARC supllied it to you or placed before Arbitrator?

They are likely to claim the one existent was signed and it had a clause that later version shall be placed at website and shall be applicable ..................later it was  updated on website and one at website is not required to be signed, but is applicable.

It is felt that ‘Written Off’ is only in books of CC company/Bank.

If you have any citations that ‘Written Off’ can not be sold/assigned, recovered then post it in this thread.

You may download and go thru:

Fair Practices Code

The Code of Bank's Commitment to Customers

This (yearwise) should be on website of CC company,IBA,BCSBI,RBI…………….and your own lawyer should also be having it.

LCI Member/Expert Mr. G.L.N. Prasad, Mr. Rajendar K Goyal are from banking/legal backgrounds and have finer understanding of such matters e.g; 'Written Off'.

If you wish you may get in touch with them.

In 2005 there is no Arbitration clause for CC. And as per RBI circular also not mention till now from 2004 & I downloaded and checked. Nowhere Arbitration clause for CC.They have told Arbitration clause in ABN avl. & I too signed it. So, I asked the copies of the same.Then anothe 4 persons also attended on that day. Out of which 2 persons came along with their advocates and informed them that they are going to challenge in the court for arbitration notice served. Atleast in my case they have reported in Cibil as Written-off. Kindly give me the contact details of Mr. G.L.N. PRASAD & Mr RAJENDER GOEL

“They have told Arbitration clause in ABN avl. & I too signed it.”

What is this ABN avl?

Did you sign it?

Is your signature forged?

Did they state so in writing?

If you wish may also contact Mr. Parthasarthy Longanathan,Mr. Mallepedi Jaggarao…………………..they are also from banking background.

Log on to their profile, contact them or send PM.

It shall be their discretion to respond to you.

They informed ABN credit card have the arbitration clause is existing since beginning. According to me they don't have at that time & RBI circulars for CC company also not mentioning Arbitration clause anywhere till now. Anyhow I asked the copy of the application & agreement signed by me.

Regarding written-off reported by them may be for their books. Logically my view is they can't file arbitration for a written-off amount.

You can press your view and rights at any forum.

You have acted rightly by askin for authenticated copy of claimed docs.