Ramesh
01 October 2015 at 23:24
Dear Sir,
After passing out of my MBA, I started a manufacturing company and took a bank loan of 97 lakhs under CGTMSE scheme. Due to an unfortunate fire incident on 5th July, 2014 - our factory was gutted. As we defaulted on the loan, the case has now gone to DRT.
Some points on the loan: 1) Total Loan = 97 lakhs 2) Only primary security . No mortgage of property. No personal guarantor. Loan received under CGTMSE scheme. https://www.cgtmse.in/schemes.aspx
We are presently in very bad financial condition. We have no money to repay the bank.
What is the possible way out for me ? I have no money to even pay for legal fees.
Regards,
Ramesh Jain
Anonymous
01 October 2015 at 05:34
I have recieved a notice through registered post. I am right now out of country. Can I give my reply to the notice by an email? Or.. Please guide me.
avni
30 September 2015 at 21:26
Query is related with Charge... I am confused between the term second charge and further charge... Does both means the same... Pls explain me with illustration for easy understanding... Second query is if modification is done with the amount of charge by increasing loan amt on the same property would ultimately becomes second or further or it remains first charge........
anirban
29 September 2015 at 13:24
Dear Sirs,
Can you plz let me know if an employer delays the full & final settlement of its employee,then
i) can the employee file a winding up petition in high court?
ii) Is Winding Up Petition a recover suit or employee has to file a separate money suit?
iii) If employer partly disputes the claim,then can this petition fetch the undisputed claim amount?
iv) Is the winding up petition to be filed only in the high court where the registered office of the company is situated?
v)Lastly I would request you to give an cost estimation of sending winding up notice and filing winding up petition.
Regards,
Anirban.
Anonymous
27 September 2015 at 15:26
My father is a Sr.manager in GAIL India Ltd. Is he a class A officer?Plz provide related documents.
Ramakrishna Kurup
27 September 2015 at 10:04
Bank gave loan Rs.18 lakhs to purchase diesel generator under Hypothecation agreement .Party has removed the generator set .Now it is not traceable.Can the bank initiate proceedings under RDDBFI Act or is it sufficient to file original suit i civil court for recovery of money Pls advise
Vijaya Bhaskar
26 September 2015 at 20:09
Dear Learned Experts
We are a charitable institution have employees about 45. Our office is located 12 kms away from the municipal corporation. We are located in Bandiwad village, Hubli Taluk, Dharwad District, Karnataka.
In the past I approached the ESIC office to know the applicability of ESI. They said since the institutoin is located out of the coverage area we are not applicable.
Now the officer visited our project and say that there is a new rule and they are deputed by the superior to find out any nearest organisation located within the city for enrollment.
I would be thankful if you could facilitate me with some information on coverage and radius for coverage.
P
26 September 2015 at 10:27
Sir/Madam,
Today i have read that govt is going to reduce its stake to less than 50% in idbi. What about students who have given ibps for recruitment in public sector banks and other public sector banks. Isn.t it like fraud to them. What to do if idbi bcms pvt????
Sunder Aggarwal
25 September 2015 at 13:28
A Loan against property was taken by my father in 2009. We just paid two installments. My father had problem of High Diabetes, so we could not able to repay the loan installments. Therefore bank issued a notice under SARFEASI and We have submitted an application for One Time Settlement with all documentary evidences related to my father’s sensitive health. Bank manager advised us to appear in a meeting to be held for settlement of unpaid loans. We explained our financial position and the sensitive stage of my father’s health to the chairman of the bank, in the meeting. Then, after considering the facts he settled our loan for a certain amount with a condition of deposition of the same by 31st March 2014. He assured us that your loan account will be closed and mortgaged documents will returned to you soon. Branch Manager was present at the time of settlement. According to the settlement we deposited the commited amount within time. After that, we met Branch Manager so many times to close our loan account and return our mortgaged papers. But, neither the loan account is closed nor the mortgaged papers are returned to us till today. We write to the chairman of the bank to take action in this regard. But all in vain. We shocked when Branch issued a notice for recovery of said loan within 15 days, by defaulting which further proceedings will be initiated. After 15 days the officials of Branch placed a Possession Notice outside our house. Sir Please provide a solution if any thing can be done in this regard.
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