Ajay
03 October 2010 at 12:22
i want to know when a account become NPA.i was enjoying working capital limit with bank and paying interest within stipulated norm.Bank ask us to reduce the limit and we also agree and made and agreement to reduce Rs.80000per month.All of sudden recesion start on 2008 september,i requested bank to defer my reduction in limit for 6month as i could not pay.But did not agree to my request.After 4 month they classified my account as NPA.Can bank do it for reducing limit,where as exisitng loan interest was giving within normal period.
further after classyfying our account NPA on 29th December they took interest also from us,they took instalment also in december,february,march also.under above circumstances can we challenge in court that our account is not NPA
Ajay
03 October 2010 at 09:05
dear sir
we have file objection to notice but not objected legality of notice,we file the case in DRT court also but we simply refused that we have not recieved the notice under section 13(2).Now whether notice under section 13(2) is valid or not,i want to know when bank has not ask only remaining balance amount,bank demanded full loan sanction amount,they did not reduce principle paid by us,further they did not give details of account,neither they mention about property mortage also,in 13(3),it is mention that all these condition to be fullfil.Plz guide can we challenge notice legality
Ajay
02 October 2010 at 23:57
I have taken a loan of Rs1 crore from bank and paid 25 lac as principle amount remaining 75 lac is to be paid.Bank has issued me notice under section 13(2) and demanded entire amount of Rs1 crore instead of balance payable to them.Whether notice valid in law or they have to follow it again by issuing another notice demanding only remaining amount.
ramesh
02 October 2010 at 19:51
Hi
can any one send the format of loan agreement for accepting business loan from NRI to a indian business establishment.
sukkanyah
01 October 2010 at 14:43
I had taken a loan against my gold from MUTHOOT FINANCE,N BESIDES PAYNG THE USUAL AMOUNT FOR INTEREST EVERY MNTH,THESE PEOPLE WUD TAKE ADDITIONAL SERVICE CHARGES OF Rs 200 frm me every mnth.n now after two yers they suggested to convert my loan into another scheme claimng tat the rate of interest wud be lesssr n i cud continue to enjoy better product features.now after three mnths of paymnts,suddenly they say the rate of interest is hiked n now i hav to pay more n i wnt get any difference in the value of my gold that the market determines.PLZ HELP ME,I THNK I M BEING DEFRAUDD.
Anonymous
01 October 2010 at 11:21
If a document to be served on a company, is returned with the remark "left", is that a valid service? The letter was sent to the registered office of the company. No other remark was made. Any inputs on this matter would be appreciated
N.RAMESH
30 September 2010 at 12:04
Dear Friends
I need one real agreement draft to be made between Layout promotor and the Builder who is going to construct houses in the layout
Could you kindly send me the draft copy of the agreement
Anonymous
30 September 2010 at 11:32
One of the my client has received DD in good faith and he deposited it into his bank where is has account. Afterward bank come to know that the DD is Fraud. So he has ledge police complaint and police has kept my client into lockup overnight. Now what is remedy available to my client? Can police keep my client into lockup on bank's complaint without any inquiry or proof? How to defend my client and under which Act? What actions my client should take for defalcation?
akmal
30 September 2010 at 10:57
Hi sir,
I had taken loan of 40 million from a local bank for exporting a machine. It was the time when the market broke down.
After few months, i got a notice from my bank that i have to pay the loan at once, as the bank was in need of money.
As per the aggrement i was not to pay any money till 4 years, but bank forced me to pay it from the very beggining. Now i am stuck with it. My bussiness is going down, all my income is going in paying the bank. It doesnt look that i can clear it like this. I am asking the bank some time but they are not in a mood to give me any time, insted of that they told me to pay an additional amount of 30 lacks in 5 days.
They are treatening me if i dont pay the amount in time, the bank will take over on my properties.
If there is any one who can help me and guide me with this then please let me know.
no matter how but i want to come out of this.
If u want i can provide the document too for more detail.
Plese help me out
anyone
thanks & Regards
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