rajangam.m
15 April 2014 at 16:16
Dear All,
I need the best law journal(monthly)name for consumer cases specfically pls send it the name..
Regards,
M.Rajangam.
Advocate.
M P Singhania
15 April 2014 at 15:58
I have seen in a link a link where I have seen your views and it is clearly mentioned that Prepayment penalty cannot be charged as per the RBI guidelines which you have to find out from the guidelines
I have taken a CC limit from Axis Bank and the main points are given below:.
1. I have never approach Axis Bank for the Cash Credit Limit as I was approcah by the Branch Manager along with his staff Mr. Suman and convince me to transfer the loan from State Bank to their Bank and will give me better facilities like increase of CC Limit in my acconts. Then I have decided to transfer the loan from SBI to their bank.
2. After submitting all the papers, I have received sanction letter along with so many agreement letters and in good faith,I have signed all the documents and at the time of signing the documents, the Branch and officers who came from Guwahati has never informed me that Prepayment penalty charged will be applied as per Bnak's decision and it is ia clear case of misleading the customers. Of course, they may say thet I should have gone through the papers before signing but I ahve taken loans from so many banks and no banks have ever charged me Pre payment penalty as when sgifting the loan from SBI to their bank, SBI has never charge Prepayment penalty.
3. the main reason of transfering my loan from axis bank to IDBI bank was I was not happy with the day to day query from Axis Bank and told me that my account is not functioning well as per the terms and conditions of the sanction and also my Marak Supply & Agencies was sanction by Rs. 1.20 Crore and they have released only Rs. 60 Lacs and Rs. 60 Lacs they kept for further orders to be received by me and on the basis of that they will released the amount. During the Month of February 2014, I was urgently in need of that Balance amount of Rs. 60 Lacs and requested Branch Manager to release the amount. The branch Manager told me that Head Office is not permitted him to releasing the amount and requires copy of the orders in hand. Accordingly I have sent copy of orders in hand worth Rs. 2.0 Crores but still they have refused to released the amount and rang me that they are not satisfied with my account and may call back the limit.
Since I was in urgent need of fund, so I approach IDBI bank for take over of the loan and IDBI has given better facilities with enhancement of Limit than the Axis Bank and I have submitted my papers to IDBI who had sanction my loan within 20 days and paid the loan amount of Axis bank. But axis bank refuse to take the amount on the 31st March and we had to close the account on the 3rd April 2014.
Now I have applied for release of my documents but they have refused to released the documents and asked me to pay the Prepayment charges of 2% i.e., Rs. 6 Lacs. This is also arbitrarily. How could they charge 2% arbitrarily why not 3% or 10%.
As I have mentioned above and send you the link, Kindly open it and it is clearly mentioned that Prepayment Penalty charge cannot be charged as per RBI Guidelines and we can complain toBanking. Ombudsman.
I request you to kindly prepare a nice and effective legal notice with all the valid points that under what circumstances we had to shift and also it is always with the customer if they get better facility in other bank, they can always shift the account by paying the loan account with interest as I had done with SBI.
As I have seen your views that Prepayment Penalty cannot be charged on loans given by banks as per RBI Guidelines and I was searching the RBI Guidelines but could not get it. May I request you to kindly help me to get the RBI Guidelines on this Prepayment of Loan so that I can show to the Axis Bank to return all my papers.
It is my personal request to you to kindly help me in this matter.
M P Singhania
15 April 2014 at 15:54
I have seen in a link a link where I have seen your views and it is clearly mentioned that Prepayment penalty cannot be charged as per the RBI guidelines which you have to find out from the guidelines
I have taken a CC limit from Axis Bank and the main points are given below:.
1. I have never approach Axis Bank for the Cash Credit Limit as I was approcah by the Branch Manager along with his staff Mr. Suman and convince me to transfer the loan from State Bank to their Bank and will give me better facilities like increase of CC Limit in my acconts. Then I have decided to transfer the loan from SBI to their bank.
2. After submitting all the papers, I have received sanction letter along with so many agreement letters and in good faith,I have signed all the documents and at the time of signing the documents, the Branch and officers who came from Guwahati has never informed me that Prepayment penalty charged will be applied as per Bnak's decision and it is ia clear case of misleading the customers. Of course, they may say thet I should have gone through the papers before signing but I ahve taken loans from so many banks and no banks have ever charged me Pre payment penalty as when sgifting the loan from SBI to their bank, SBI has never charge Prepayment penalty.
3. the main reason of transfering my loan from axis bank to IDBI bank was I was not happy with the day to day query from Axis Bank and told me that my account is not functioning well as per the terms and conditions of the sanction and also my Marak Supply & Agencies was sanction by Rs. 1.20 Crore and they have released only Rs. 60 Lacs and Rs. 60 Lacs they kept for further orders to be received by me and on the basis of that they will released the amount. During the Month of February 2014, I was urgently in need of that Balance amount of Rs. 60 Lacs and requested Branch Manager to release the amount. The branch Manager told me that Head Office is not permitted him to releasing the amount and requires copy of the orders in hand. Accordingly I have sent copy of orders in hand worth Rs. 2.0 Crores but still they have refused to released the amount and rang me that they are not satisfied with my account and may call back the limit.
Since I was in urgent need of fund, so I approach IDBI bank for take over of the loan and IDBI has given better facilities with enhancement of Limit than the Axis Bank and I have submitted my papers to IDBI who had sanction my loan within 20 days and paid the loan amount of Axis bank. But axis bank refuse to take the amount on the 31st March and we had to close the account on the 3rd April 2014.
Now I have applied for release of my documents but they have refused to released the documents and asked me to pay the Prepayment charges of 2% i.e., Rs. 6 Lacs. This is also arbitrarily. How could they charge 2% arbitrarily why not 3% or 10%.
As I have mentioned above and send you the link, Kindly open it and it is clearly mentioned that Prepayment Penalty charge cannot be charged as per RBI Guidelines and we can complain toBanking. Ombudsman.
I request you to kindly prepare a nice and effective legal notice with all the valid points that under what circumstances we had to shift and also it is always with the customer if they get better facility in other bank, they can always shift the account by paying the loan account with interest as I had done with SBI.
As I have seen your views that Prepayment Penalty cannot be charged on loans given by banks as per RBI Guidelines and I was searching the RBI Guidelines but could not get it. May I request you to kindly help me to get the RBI Guidelines on this Prepayment of Loan so that I can show to the Axis Bank to return all my papers.
It is my personal request to you to kindly help me in this matter.
deepak Shivnikar
15 April 2014 at 15:14
Sir,
How the punishment will be imposed / illustration file attached
maxmoon
15 April 2014 at 15:03
my son who is 3 years old.my mother-in-law wishes to take him along with her as she is going to meet her son in the United States.she holds a U.S Visa.Can my father-in-law sponsor my 3 year old child if we,the parents give an notarised noc affidavit of consent.is my father-in-laws financial docs sufficient?
C M Saldanha
15 April 2014 at 12:32
I have a query regarding our Housing Society. Five-year term of MC expired 8th August, 2013. Pending election procedure by State Government, Society did not release 31/03/2013 audited accounts even if under cover letter within stipulated period. Year end accounts as at 31/03/2014 are now also due.
Chairman has now written to Dy Registrar requesting him to conduct AGM for last year which to my mind is incorrect. In view of Commissioner circular dated 26.02.2013 stating no major decisions pending elections, besides office bearers being in titular (nominal with no powers) since August 2013, can 'AGM' be held?
Janak Dalal
15 April 2014 at 11:53
We are a Trust regd in Maharashtra. A resolution was passed in AGM to appoint new Auditors in place of existiong Auditors, who have been auditors since past 5 years. Newly appointed auditors have asked for NOC from the retiring Auditors. They refused to give NOC and asked to clarify why they were removed.
1) My querry is : Have retiring auditors right to ask for clarification?
2) Whether NOC from retiring Auditor is required, when a resolution for appoitment of Auditors was passed in AGM ?
**zubair**
14 April 2014 at 22:17
Few months back I deposited Rs. 40000/- cash in my fathers savings bank account as a gift. 1) Do I need to sign a gift deed since it is cash deposited by me in my fathers account. 2) Is cash gift from son to father is exempted from income tax for father. 3) If it is exempted and since it is more than Rs. 5000/- do my father need to fill the ITR-2 form to claim the exemption. 4) The amount received as a gift and savings bank account interest, can it be shown under "Income From Other Sources" in ITR form.
KARTHIKEYAN
14 April 2014 at 15:59
Dear sir
I ordered smart tablet 25 days back I paid total amount on the order day itself
till now I did not received the one, I am unable to contact them also, what can I do now
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Implementation of punishment order
The Disciplinary authority ( Hon. DPS Aurangabad Region Maharashta ) issued punishment order vide Memo No Ar /Staff-II/Rule14/ DRS/Dhule/2007 dated 09/01/2013 as “ pay be reduced by two stages from Rs.18590/- to Rs.17510/- in time scale of pay of Rs. 9300/- to Rs 34800/- plus GP 4200/- for period of three years with immediate effect . He will not earn increment during the period of reduction .It is further directed that reduction will not have effect of postponing his future increments of pay.”
Appellate authority ( Hon.PMG Aurangabad) issued appellate order on 17/09/2013 as follows - “pay of Shri D R Shivnikar be reduced by three stages in time scale of pay for one year with effect from the date of effect of existing punishment , with further direction that he will earn increment during the period of reduction & that on expiry of this period , the reduction will have effect of postponing his future increments of pay “
Information Required :-
1. Whether the above appellate order will be executable ?
2. If yes then illustration of it be provided.
3. If No then the reasons there of?