shuvadip datta
17 October 2010 at 15:01
my prayer to bank is
To Thursday, October 07, 2010
The Manager
United Bank of India
Meherpur branch: Silchar
Sub: Prayer for reconsideration of reserved price for auction of the property published in the daily news paper” Dainik Jugsankha” dated 07/10/2010 related to loan account A TV cable network and Shuvadip Datta HBL a/c, as because the reserved price quoted by you is very low compare to the market price or its prime value and its totally deprive the borrower interest. Also make a note that I am a non willful defaulter. Simultaneously my earnest prayer to you to sale the ground floor only and 7 katha vacant land as a part sale of immovable secured asset.
Sir,
I like to furnish some facts and figure here in below and my prayer to you for your kind reconsideration. As you know the building valuation for three storied building, which is under your possession and going to be auction as per your advertisement stated on the subject that, you are requested to see the followings.
Sir, building situated in a prime land in silchar, where ex. MP from Rajya Shova residence, and the radio station quarters is adjacent of my land, measuring 3 katha 8 chataak (where market value of per katha that is 720 sq.ft. of land is aprox. 5 to 6 lakh and the total market value of my land aprox.17 to 20 lakh.) and the valuation of a furnished ground floor of 1400 sq, ft, the first floor and second floor measuring 1650 sq.ft each aprox. .e. total square feet of the building are 4700 sq. feet is aprox and the market value (assuming 1500 per sq.ft aprox.) is aprox 70 lakh. Now at the time of sanction of loan your approved valuer provides the value of the building aprox. 57 lakh in the year 2005 when the material cost of the building is half than today’s cost. Now the same building today’s approximate value is more or less 1 core. Where you fix the reserved price for only 37 lakh, which is your approximate recovery amount and it’s a very very low price compare to present market value. Presently your reserved price is 37 lakh for three storied RCC building of 4700 sq. ft. Including 3 katha 8 chataak prime land in Silchar and the price of per sq. ft. stands rs.787 per sq. ft. excluding the cost of land, which is less than fifty percent approximate of market value for per sq.ft RCC building including land.
It is no doubt true that SARFAESI Act and Rules have been framed with a view to expedite the recovery of money due to the Bank. However, since the provisions have vested wide power, on the Authorised Officer/Secured Creditor, it is expected such power should be exercised within strict parameters indicated in the Statute and the Rules. The reserve price will be fixed based on a valuation of the property by to empanelled valuers .Learned counsel for the Bank by relying upon the decision of the Supreme Court, has submitted that in normal circumstances (5) Before effecting sale of the immovable property referred to in sub-rule (1)of rule 9, the authorised officer shall obtain valuation of the property from an approved valuer and in consultation with the secured creditor, fix the reserve price of the property and may sell the whole or any part of such immovable secured asset .
Also make a note that ,the SARFAESI is not applicable to agriculture debts, dues below Rs One lakh; and to non-willful defaulters as per the Act. As you know the total loss of the project for which I took loan , and accordingly I become empty hand , and not paid the your outstanding in time . All the source of income become zero , and myself a non willful defaulter. Keeping all these you are requested to consider my prayer from your part.
SARFAESI Act and the Rules have laid down several procedural safeguards obviously with a view to ensure that there is no abuse of the extra-ordinary power conferred under the Act and the Rules and to provide a modicum of protection to the borrowers or the person whose properties are sold. Now, if bank acts only after their own interest by misusing power under SARFAESI act. and neglected the borrower interest than, it will be miserable for a citizen of Independent India.
Sir, I have only one house where I stayed with my 80 years old mother and two little children with my wife. I have no other shelter. My prayer to you , that if you sale the ground floor (1400 sq.ft) only as per present market price which is more or less RS.2000 per sq. feet , than also you will get 28 lakh . And the rest amount I will arrange cash or selling the vacant land of 7 katha which is under your possession against the same loan. And same may be auction but unfortunately you are not going to sale the same and also not mention in the auction advertisement.
To see the humanity ground, you are requested to reconsider the reserved price and selling the ground floor only , by which you can meet your required amount and save us by giving shelter otherwise I will come under open sky with my mother and children.
I will expect a dignitary behavior respect to bank prestige and tradition. Hope you will co-operate and act accordingly. Thanking you,
Sincerely yours,
(Shuvadip Datta)
Club Road: Silchar
Mob: 9854211888 / 9435071234
Copy to:1. Regional office, for kind information and necessary action.
2. Recovery agent of UBI.
abdul rashid dulloo
17 October 2010 at 14:59
The impugned dispute was between Hindus and Muslims as to title of the said land/property. How far was it correct to give one portion to Hindus, One portion to muslims and one portion again to Hindus? Why could not court Hon'ble judges reach to a conclusion as to which party had the title to land/property involved.
Member (Account Deleted)
17 October 2010 at 12:46
What is the purpose of issuing commission Under order order 39 r. 7. can an application under order 39 r.7 read with order 26 r.p read with section 151 cpc lay after an order of temporary injunction has been passed against the defendant. Here the dispute is pertaing the boudary and the allegation of the plaintiff is that the defendant has encroached an areea of 3'X 238' by constructing boundary wall. the court has restrained the defendant from raising height of the already constructed boundary wall. the defendant is saying that he has not encroached a single inch. therefore if he wants to file an application under order 39 r.4 cant he pray for an inspection under order 39 r 7.
mohan elnoorkar
17 October 2010 at 09:53
the deceased respondent legal representatives not brought on record and the High Court remanded the case to teh lower court.the abatement is effected in High Court and the judgment of remand weather valid without bringing the lrs on records in high court . who has to decided the point of abatement High Court or lower court.can lower court make reference to High court???
Anonymous
17 October 2010 at 08:42
Dear, sir/madam i need a urgent help i am a team leader in hospitality industry i've married before two and half year, my wife is not living with me from starting she use to come and go like relatives, but one fine day before a year she took her car(given to her in marriage), and some other gift items and she also has jwellery given by us along with jwellery of my mother. And now she has logged a case of maintanance in which i'll have to appear for 1st date i would like to add that i have also found a leagal document in which it is mentioned that she was forced by her parents to marry with me as she herself mentioned that she dose'nt wanted to marry me. Please help me out.. I m depressed she is deserting my life...
JAIME
16 October 2010 at 23:59
I COMPLAINED AGAINST ILLEGAL CONSTRUCTION TO THE DEPUTY COLLECTOR IN 2007 THROUGH THE OFFICE OF THE MAMLATDHAR. THE MAMLATDHAR NEVER TILL DATE ATTENDED THE CASE AND THE RESPONDENT TILL DATE FAILED TO FILE HIS REPLY. THAT NO ACTION WAS FORTHCOMMING I SUBMITTED APPLICATION FOR INTERVENER. APPEARS THAT THE DEPUTY COLLECTOR IS HAND IN GLOVES WITH THE RESPONDENT'S LAWYER. THE RESPONDENT LAWYER ATTENDED INTENDING TO ARGUE THE MATTER WITHOUT ANY WRITTEN REPLY TO MY INVERVENER APPLICATION AND TO HAVE MY APPLICATION DISMISSED. COULD I PLEASE BE GUIDED TO OBTAINING AN ORDER FOR INTERVENTION. THANKS VERY MUCH.
ABHINAV JAIN
16 October 2010 at 22:29
If the terms of the cover-note issued by the insurance company vary slightly from the terms of the subsequently issued policy, which will be taken into consideration on account of an accident claim if a substantial question of fact arises whereby the said deviation shifts the liability from the insurance co. to the insured in case of default?
mohan elnoorkar
16 October 2010 at 21:39
the deceased respondent legal representatives not brought on record and the High Court remanded the case to teh lower court.the abatement is effected in High Court and the judgment of remand weather valid without bringing the lrs on records in high court . who has to decided the point of abatement High Court or lower court.
Anonymous
16 October 2010 at 21:11
sec 60 tp act when the right of redemption is extinguished by the act of parties under sec 53a tp act benifit can be given
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share- hindu succession -
male Hindu dies intestate his property .
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