Member (Account Deleted)
04 April 2014 at 17:40
Sir I have taken two personal loans in the year 2006 & 2007 when i was an employee in the same bank.In the Year 2008 My Brother inlaw has taken a mortgage loan in the same bank and i was a Co borrower in his Loan.
I have left the Bank in 2010 and my Personal Loans have Become NPA since then,After six years of Mortgage payment we have approached for the closure of the mortgage loan,The bank has refused to accept the closure of mortgage loan and asking my brother in law to close my personal loans also which are overdue and not paid by me since 2010. The bank has refused to accept the payment for the mortgage loan and dozed the account to an NPA, They have also sent an 13(2) notice to my brother inlaw saying he is cross liable for my personal loans also as iam a co borrower in his mortgage Loan.
my question is How can he become liable to my loans when he has not signed any docs for my loan accounts and can we approach DRT for a stay on the issue as we are ready with a DD for the loan closure.
Pls Advice
Ajit Apte
04 April 2014 at 12:11
We are a small scale engineering company and have dispute with a vendor about the supply of goods and services. The vendor is a medium scale company and has invoked section 18 of MSME act for recovery of payment.
Is a medium scale company entitled to seek relief under MSME Act against a small scale company? Is there a case law or settled position on this issue?
Javed Shaikh
03 April 2014 at 19:12
Hi,
I have a two wheeler loan from HDFC Bank.
I had taken it on 1st Jan 2013 for 36 months. I have duely paid all my EMI's till date which falls on 11th of every month. I want to finish off this liability now my repaying the loan amount in full. Is that allowed ? If yes then will I make any monetary gain if the payment is done before maturity date ?
PLease let me know. Thanks
P.Raghavendra Kumar
03 April 2014 at 18:40
Sir
Please clarify me regarding when one account of credit limits of a company becomes NPA then other accounts in that credit limits of the same company will also become NPA or not
Jayant
03 April 2014 at 15:10
I need to know the contents of Para C 9 Of the Banking Ombudsman Handbook. Hope someone will have it readily available. Please share.
Regards -
Jayant UPlekar
DHAVAL BHOJANI
03 April 2014 at 12:34
Hello, Request for your expert opinion / clarifications in the query mentioned below: Going through the latest updates / notifications regarding 185; there is one issue / queries: One of our client based in Gujarat is a partnership firm having two partners and is proposing for a project finance from banks. The project land is in the name of private limited wherein all the directors are from family and even the above two partners are also directors. Now this land needs to be offered as collateral to the bank; now there is a Hiccup of sec 185; as the company; being owner of the project land needs to offer its corporate guarantee to the bank. I request to guide me whether the section 185 is applicable or exempted and further what needs to be done or any solution.
Read more at: http://www.caclubindia.com/experts/modify_message.asp?entry_id=807387
Mohammad Ateeq
01 April 2014 at 12:46
Dear All,
I have opened a new company and got registered on Feb-2014(Form Registation, Servis Tax, Pan card), in my company we are having only 2 Employees and our work is outdoor work,, and our whole year business is of less then 2 lack only. after excluding all my expenses(Emp salary etc) my profit is hardly 80k per annam.. do i need to do ESIC and PF,
My Business is of Telecom Survey.
Please help me because my vendor is forcing me to do this and, as per my knowledge for esic and PF it will cast around 25K, one of my friend told me if m having less then 20 Emp i dont need ESIC and PF
Note:for 2 EMP also do this necessary..?
grouptentele@outlook.com
VIPUL KUMAR SHARMA
31 March 2014 at 11:54
what should be done when a promoter get expired in February.While making disclosure regarding regulation 30(2)of SAST 2011.what procedure we should adopt regarding the expired promoter filling.
and please tell me changes in other matters also regarding this.
RACHIT
29 March 2014 at 12:18
Dear Sir,
There is a company which is inactive at present and we want to convert it into Limited Liability Partnership, so what is the process of conversion ? And whether the conversion took place by 31st march 2014 or what is the expected time of conversion ?
And if we want to convert the inactive company into dormant company then what is the procedure?
what should be done from above 2 cases ?
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
How to compel rbi to take action against a bank violating rbi rules to exploit borrowers
I have availed a mortgage loan from HDFC Bank. The interest was supposed to be 2% discount over their benchmark prime lending rate which was supposed to be revised according to revision by RBI from time to time. In practice, HDFC Bank increased PLR when RBI increased its repo rate, but did not reduce it when RBI reduced it. Consequently, spread of my effective rate over RBI's rate increased by 3.75% in two years!
I found master-circulars of RBI clearly saying that (i) floating rate loans must not be linked to bank's internal PLR and must always be linked to an external rate, (ii) there must be an enabling clause in loan agreement stating that interest rate will be revised both upwards and downwards in accordance with revision in rate of interest by RBI from time to time, and (iii) (press release) there will be no prepayment charges on floating rate loan products.
Yet, HDFC is flouting all the above requirements.
DRT is not concerned with such issues and cannot order a bank to comply with RBI rules.
I complained to Ombudsman who refused to intervene. Then I complained to Governor, RBI but he refused to intervene as well. I have filed writ in high court including RBI as a party but RBI is not appearing in court.
Pls advise how can we compel RBI to take action against HDFC.
Matter concerns most borrowers and hence, the trouble taken to respond in detail might serve a public interest as well.