sanjay
20 February 2011 at 22:18
we a pvt ltd company had taken 3 loans from surat people cooperative bank surat gujarat. the loans became NPA in 2000. the bank got a decree from board of nominees against us. the bank did not allow the sale of the machinery of the pvt ltd company instead they pressurized for the sale of the house of the guarantor. after the sale of the house there was an ots scheme of rbi in 2006. the company applied for ots in sept 2006 for 35.61 lacs for all 3 loans. the bank did not give any letter of acceptance of ots. the company paid 25% (8.90lacs) in dec 2006. then the company paid 5 lacs in may 2007. the bank GM said that the scheme was extended and we could pay til march 2008. then co paid 21 lacs in march 2008.later the co again paid 3.16 lacs in may 2008 towards interest of ots. during the entire period the bank GM was saying that we were in OTS. after may 2008 the bank GM promised to give NDC and Form 17 for release of charge of the collateral. but the same was not given. then till march 2010 there was no communication from the bank. now we started writing letters to the bank for the NDC and Form 17. now the bank says that we had defaulted in the ots as we did not pay in time and so now we are out of OTS. there is no letter from the bank about acceptance of OTS nor there is any letter about our removal from OTS.
In sept 2010 the bank issued an attachment order against which we appealed to the Secretary of Agriculture and cooperative dept Gujarat. Our appeal was sent by the secretariat to the bank. The bank replied that they had considered us in OTS and becoz the payment was not made by Dec 2007/Jan 2008 the bank removed us from OTS. The bank submitted a page of Inspection report of RBI of March 2008 – a part of which we reproduce as under :
“ it was observed that one of the borrowers offered OTS under the scheme had paid 25% upfront portion (Rs. 8.90 lacs) of the settlement amount of 35.61 lacs on Dec 30, 3006 & Jan 1, 2007. The remaining amount due to be paid by Dec 2007 / Jan 2008 was paid with delay on March 31/April 2, 2008. Further the party paid Rs. 34.90 lacs against the due balance amount of Rs. 35.61 lacs. Interest @ 11% is yet to be recovered. The bank may immediately review such cases and take concrete steps to recover the dues (action).”
Then in May 2008 we have paid 3.16 lacs. So against the OTS amount of 35.61 lacs to be paid by Dec 2007/Jan 2008, we have paid total 38.06 lacs by may 2008. There was no communication from Bank. till Aug 2010. In Aug 2010 they sent a letter that they have removed us from OTS. Does the cooperative bank have the power to remove us from OTS after receiving the payments or a major part of payments ?
we now need guidance and legal assistance on this issue. Pl guide us. Thanks in advance.
Saito Basumatary
20 February 2011 at 21:02
What is motion, admission, order and hearing stage in High Court and Supreme Court. What is lawyers duties in these mentioned stages.
shalinee
20 February 2011 at 16:15
Sir,
I 've recently shifted from delhi to mumbai in a society flat as a tenant on company's lease and my problem is that i ve been disallowed to park my car inside the society citing the reason that only flat owners can park inside.i want to ask is there any law which establishes their decision ?what is my constitutional right ?on what basis they can disallow me.pls help me.
warm regards,
shalinee srivastava
Anonymous
20 February 2011 at 12:58
Is it safe to disclose Indian marriage in US fiance visa for?
Kirti Kar Tripathi
20 February 2011 at 12:57
Is it safe to disclose Indian marriage in US fiance visa for?
Kirti Kar Tripathi
20 February 2011 at 12:56
Is it safe to disclose Indian marriage in US fiance visa for?
Kirti Kar Tripathi
20 February 2011 at 12:54
Is it safe to disclose Indian marriage in US fiance visa for?
Anonymous
20 February 2011 at 10:42
Fact : In one Pvt. Ltd co. had Group Mediclaim Policy due for renewal on 5th Oct,2010. But due to oversight co. couldn't able to renew it. In meantime co. got qoutation from another insurance co. which is very low compared to original renewal premium of old policy. After that Management decided to take GMP from new vendor, but by that time 23 days passed. During this 23 days time 3 employees mediclaim come. There is no terms regarding GMP in offer letter. Just company has announced that whoever completed one year will be eligible for GMP. GMP also just before one year only started.
My Querries are:
1). Can employee claim from Company for his claim?
2). Can Company liable for employees cliam?
3). Is there any possibility of legal case?
4). If company is ready to give some token of help than what should company has to get something in writing from employee. like ... employee can give in writing that I recd. so & so amt. and now I have no further claim against this issue in future. (I want some write up in legal point of view.)
Anonymous
20 February 2011 at 10:19
Dear Experts,
May I request your advice on below matter.
I have taken 2 perosnal loans(1lakh & 40,000RS) & one credit card(50,000RS)during the period of 2005-06 from newdelhi.In 2006 I left for abroad after that I haven't paid the EMI.so many times they contacted me there..so I want to know what are the steps they can take against me and If I wanted to repay money back, will they allow me to do so?
If they already filed a case against me, how can I know that & how to go forward, please advice
Do I face any problems at airport when I reach in delhi or any other state in India?
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
sweat equity shares
while studying sweat equity shares concept,i
came across with sentence"THE SHARES SHOULD BE OF A CLASS OF SHARES ALREADY ISSUED".
what does above sentence mean.please clarify me