Kvijay12345
06 July 2013 at 18:38
My friend had taken a car loan from Mahindra Finance(MFSL) in 2008.The tenure was fixed for 42 months with the EMI of Rs.15,070 p.m. He was not issued any loan sanction letter or any loan relevent document at the time of loan santion.After several requests and after 30 months from the date of loan sanction, MFSL provided him the copy of loan agreement in which the borrower found many discrepancies such as the tenure for loan was changed to 60 months rather than 42 months as committed, rate of interest applied on loan is not mentioned any where in the loan agreement, although no guarantor was provided by him, the signatures of an unknown person were taken on the agreement as a guarantor for the loan,moreover the power of attorney in the loan agreement is not notarised and there are many blank spaces still left in the loan agreement etc.So, after receiving these docs he immediately informed MFSL about these discrepancies and as no satisfactory reply came from MFSL he discontinued the EMI Repayment for past two years but nobody from MFSL approached him. Now the vehicle is in possession with the borrower.In such situation can the borrower use the vehicle?Does MFSL have the legal rights to repossess the vehicle on account of non payment of dues when the loan agreement has become invalid due to the non notarised power of attorney and with all the above mentioned discrepancies? despite of this if MFSL repossesses the vehicle forcibly, what legal remedy is available with the borrower? in such condition can the borrower use the vehicle? The borrower has all the acknowledgements & proofs of the several correspondences he made with the MFSL.
mohd mahboob
06 July 2013 at 18:07
Respected sir,
My company gave notice to defaulter for cheque bounce(dishonored). But i didnot file case.cheque is in dated 12-09-2012 and notice time is 17-10-2012.please give feedback .Thank you
P.C. Joshi
05 July 2013 at 12:41
Dear Freinds,
A company had an agreement with a E commerce for online selling of products through that company's e commerce site. The system used to wrk like the customers place theri order online on e commerce site and make the payment of the products they need. The e commerce site sends us daily requirement list and we supply the products directly to the customer. The e commerce company pays us by 7th of next week for last month payment received online after deducting its commission.Initially for few months the e commerce company made payment timely but later on they have not paid us and finally an amount of Rs 12500/- appx is still pending for more than 6 months.Now they are dictaing tehrms to us to accept settlement at 50% say about Rs 6000/- our company as a matter of principle does not want to accept this. Please let me know what is the best way to recover the full amount through legal process. Like summary debt recovery suit,consumer complaint or criminal case for breach/misappropriation of trust. We are Delhi based and the e commerce company is Bangalore based.
Request for early response.
Thanks
P.c. Joshi
Kalpana Sejpal
04 July 2013 at 14:11
Can a Chartered Accountants firm be registered under MSMED Act ?
If yes under which Section and what is the procedure?
Nazeer
02 July 2013 at 20:05
Dear friends,
My client is a small enterpreneur as per definition of MSME act.He has provided an erection & installation service to a public ltd company (Big company)in the financial year 2011-2012......The company has paid only less than 10% of the total due......
Can i register my client under MSME act 2006 and file a suit against the company for recovery of my clients debt......
Krishnaraj
02 July 2013 at 12:59
Dear Sir,
Iam Non Agriculturist and Non Farmer, I want to start a Goat farming business. Hence I would like to know,
1) Whether I can buy a Agricultural land
2) Whether I can be a Farmer or Agriculturist
3) My income for the last 3 years are more than 2 lacs ( income filed), hence do i have a problem in buying the agricultural land?
4) If am not eligible to buy the land, how best and legally i can start this business?
5) If I lease the property, do i able to get the subsidy from the Govt.
6) Whether the income generated from farming will be treated as business income since i already have other income of more than 2 lacs.
Kindly Advice me.
Thank you
kalpana
01 July 2013 at 21:58
I filed a suit for recovery of money against a pvt ltd company in2008 and the same was decreed in 2011 subsequently I also filed execution proceedings the debt was of 2008 I came to know that the company is not doing any business I issued a notice to pay the debt under the companies act since there was no reply I filed a winding up
Petition now the same is returned by the court by endorsing that as the suit was decreed in 2011 is the petition filed within the period of limitation my query is just because the debt was of 2008 and susequently a suit was filed does the company petition become time barred and whether the execution proceedings pending in the court prevents a creditor from filing an application for winding up
Anees
01 July 2013 at 13:02
I was looking for Home Loan balance transfer and top-up. One sales executive contacted me from Fedbank Financial Services Ltd, and told his bank will do from DHFL and interest rate will be
10.75 for Balance transfer amount
12.75 for Top-up amount.
and processing fees will be Rs.Rs.21348/-.
I had given the two check in the name of DHFL, they had immediately deposited and debited in my account, and then they send me the offer letter as follows
12.50 for Balance transfer amount
14.50 for Top-up amount.
Higher than what i am currently paying.
I disagreed with that and ask two refund my money ASAP.
This bank people are telling processing fee not refund even for loan rejection also not refundable.
how to take the legal action against this bank.
If i have to take legal action which bank i have to take Fedbank or DHFL.
Regards,
Anees
Mohan suthar
30 June 2013 at 23:02
My father has died interstate .His saving account had no nominee.
We all Brother/Sisters wanted to disclaim the money and want my mother to take the money.My question is
1.Will all disclaimers should physically present himself to Bank branch? Or Signatures done by disclaimers in bank approved format is acceptable?
*My bank officials wanted both..*
2.Will succession certificate necessary in this case required? or Legal heir certificate issued by District officials will be enough?
3. Is there any rule that the surety should have to account/FD in a deceased's account bank?Because bank officials are not accepting the liquidity lying in other bank..?
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Rash answer from fmcg store manager (reliance market)
Dear Sir,
Recently one Reliance Market (A Branch of reliance Fresh) has been started. They are given lot of adds in Local News Papers and Hording stating that " FRIEND FOR WHOLE SALE DEALERS". Their Caption is "YOUR STORE YOUR PROFIT". Entry also restricted for card holders only.
We have valid card and we went to the store along with my wife. Main Door was closed and we have waited for more than 2 hours. Floating of the people are very high. There is no proper arrangements to get in to the store. All the vehicles and public has to go inside only in one way. Due to heavy crowd our 2 wheeler was felt down and some damages to my vehicles and scratches to my wife too....
The store manager has given a worst reply. he said that why should u come into the store. WE ARE NOT RESPONSIBLE FOR YOUR DAMAGES and also police people scolded we will put u in jail if u talk some more against Reliance Market. And also The Manager is damaged himself in his hand using his nail and reversely he is saying we will put attempt to murder case against you if you putted case against us in consumer court.
My some points
1. There is no notice board for separate parking or no parking inside the premises.
2. All the consumers are waiting out side main gate as beggars when they open the gate rush is too since main door is opening once in either in one hour or two hours.
3. Lot of space in available in side the premises rather than stopping the people out side the main gate.
4. there is no water supply for waiting consumers out side the main gate.
My humble request is how can we save our consumer rights.