Anonymous
11 April 2010 at 19:50
As I have studied registered societies and trusts can do micro financing legally and they do not need to take any separate money lenders license also.
Is it right?
Can these institutions borrow money from public for micro -financing?
Can they accept donations for micro financing,Can they use donation money for micro financing?
From where they will get the funds to do micro-financing ?
Please help,thanks in advance.
tusharcosmic
11 April 2010 at 19:32
I know that "Punjab Money lenders act" is prevalent in Delhi and it is necessary for money lenders to take a license from the Govt. to do this business of money lending legally but I have come to know that Delhi Govt. is not providing this license to any one these days,Is there any way out to take this license in Delhi?
Anonymous
11 April 2010 at 13:34
One pvt ltd company has issued corporate gaurantee to bank for the loan of another company by board resolution.The bank has not registered the gaurantee with the ROC and has not taken any asset liability details, no clearance from the secured creditors of the gaurantor company.The gaurantor company does not have this clause in its MOA.Now can the bank enforce recovery of dues on the basis of the corporate gaurantee if the principal borrower has failed to repay?
MUDIT KUMAR RASTOGI
10 April 2010 at 19:17
Dear Sir,
The bank has financed a property to Mr. x in 2006. I have made a contract with Mr. X to purchase the property for Rs. 10,00,000/- and applied for a home loan of Rs. 8,00,000/- with the same bank. The bank while sanctioning the loan stated in the sanction letter that “ a sum of Rs. 2,00,000/- would be retained until the purchaser submit the original sale deed alongwith Permission to Mortgage”. I have agreed of the condition by writing that “ Permission to mortgage would be submitted to you as and when available”. The registry of the documents has already been completed. There is no clause in sanction letter that they will cancel the loan on non availability of “Permission to Mortgage”.
Since I have arranged Rs. 2,00,000/- from my own sources I do not require it from the bank now. The Bank is saying that since full disbursement is not completed your EMI would not be started.
The local land office of my area does not issue the Permission to Mortgage.
Now the bank is denying to raise the EMI and charging Pre-EMI Interest from me and threatening me to cancel the loan with preclosure charges.
Now my question is that:-
What remedy is available to me to secure the property?
Can a home loan be cancelled even after disbursement?
Is there any way to pursue the bank to raise the EMI.?
What would be the fate of the property in case bank cancel the loan.?
Kindly advice.
Thanking You.
MUDIT KUMAR RASTOGI
Anonymous
10 April 2010 at 18:11
A company has issued corporate gaurantee to bank by board resolution only for the loan of another company B.Now B has failed to pay and the bank wants to recover from company A by virtue of the corporate guarantee.Can the bank do it and in which process?
Anonymous
10 April 2010 at 12:18
Myself and three of my friends started a company. We signed the deed, got the pan card in the name of our company, registered for service tax also but yet to open the bank account. Now all the three have got some personal problem and wants to leave the company. But i wanna start it as we planned. Now at this stage how should i go about this?? how do i have to convert this into a single proprietor company??
kanwal
09 April 2010 at 12:25
is the company is bound to file Form 5 with ROC for increase of authorised capital of Section 25 Companies, if so what will be the fee?
kanwal
Aashish Satpute.
08 April 2010 at 17:10
what is payees rights and duties?
give me right and duties in points
Anonymous
08 April 2010 at 08:05
Dear sir
I have availed loan of 50 Cr From a Private bank in 2006. Out of that 23 cr . we have paid. & balance was 27 cr in March 10.
To save interest & additional finance we have approach to Nationalise bank.
At time of repayment Bank charge us 2 Cr (TWO corer) pre closing charges. After our long request finaly they charge us 1 cr. We have paid the amount of 27 + 1 =28 cr. & get cleared our property.
Now Nationalised bank is charging us interest rate 12% & private bank was charging us 14.75% interest, & lot of unknown computerized penalties wort of 1% .
IS RBI, HAVING ANY REGULATION FOR TERM LOAN PRE CLOSING ACCOUNTS?
CAN I GET BACK ,DEDUCTED 1 CR.& HOW ?
Regards
Vasu Patil
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