Sumedh Pakhidde
29 August 2022 at 11:06
Hi, i sold my mhada flat in 50 lakhs, purchaser given me 6 lakhs as down payment and 44 lakhs is loan from icici bank, bank released 19 lakhs in favor of sbi to wave off my home loan. Now for remaining 25 lakhs bank asking me to do sell deed registration first in favor of purchaser. Then they will pay me remaining amount. As i have given all the Noc's and documents which was needed. For sell deed registration bank will provide me DD details of 25 lakhs. Bank is pressurizing me to do sell deed registration with DD details then i can collect DD from their office.
Ganesh Subramaniam
21 August 2022 at 11:32
I had filed an arbitration petition, through my advocates, in the High Court of Madras against a stock broking firm and the Honble high court had passed orders in July 2021 appointing an arbitrator with directions that the arbitration proceedings should be completed within one year from the date of the order. The directions of the court wre promptly complied with by me. However even after one year the arbitrator has not held even one hearing. My legal counsel is also not taking any action to expedite the case and is preventing me from communicating with the arabitrator directly. I had petitioned the arbitrator to expedite the hearing to which my legal advisor took strong objection and prevents me from communicating with the arbitrator on when he intends to hold and complete the hearing. I am a senior citizen and this has caused me immense financial distress as the arbitration cocerns a financial claim of over Rs 30 lakhs against the stock broking firm. What recourse is open to me to bring the arbitrator to the table to hold the arbitration. All the documents have been submitted to the arbitrator in great detail promptly and I think I have a very strong case against the other side for my claim. What legal recourse is open to me. Do I have a right to communicate directly with the arbitrator and seek justice and can I petition the High Court to direct holding the arbitration proceedings.
Anonymous
21 August 2022 at 08:31
The background is as follows.
One of my close relatives purchased a house with a joint name, both husband and wife were parties for the housing loan which was granted by SBI.
During the course of time, the wife applied for a separation and left the country and went to the USA, got married there and settle there. The husband had to repay all the loan and get the NOC from the bank. Later the husband applied for divorce and got it.
2ndly, wife forged the husbands signature and got the passport applied for his daughter and fled the country.
Now after 15 years husband approaches SBI requesting them to release the sale deed kept as security. But the bank is saying both have to be present before them, which is practically impossible. Then the bank says to get court direction saying documents can be given to the first owner who is taking care of the house.
Do suggest under which legislation and to which court of law the first owner needs to approach to get remedy to his issue.
Kindly respond
regards
Arun
Anonymous
20 August 2022 at 20:40
My client is an Indian company that has entered into a consortium agreement with company B to bid for a Government project in India. The consortium agreement states that my client and company B shall both be jointly and severally liable to the Government for execution of the project. My client will sign this clause with Company B and the Government on the required bid documents but wants to enter into a separate agreement with just Company B, stating that my client will not be responsible for any of the liabilities arising from the project. If anything goes wrong, can the Government still sue my client in spite of the clause exonerating it from liability, that it signed with just Company B?
murali swayambu
15 August 2022 at 03:57
Earlier three partners promoted one firm and done business it is a registered firm. Every year compliance part is taken by 1 partner 2 financial by another 3 business by 1. Post three years business went on loss and partners moved out but now I came to know from email that income tax return not filed and other two partners are not reachable at my level. Now demand under section 147 is issued can I pay my portion of demand and can ask department to find other two partners or since they absconded whether I need to pay all dues. Since demand is 1.3 crores I can discharge by liability of 1 third.please advice
kavkaz
09 August 2022 at 05:31
Respected Sir / Madam,
I (Buyer) have recently purchased a resale flat in Mumbai Suburban area and I have availed a Bank Home Loan for the same.
We are at the final step to complete the property deal but the Seller's Co-op. Housing Society Secretary is NOT issuing NOC in the prescribed bank format as required by the buyer's bank. The Secretary wants to add an additional point in the said NOC related to a future planned self redevelopment of the society so that the buyer's bank is well informed about the same. Though there is NO concrete plan of action related to this redevelopment but just the redevelopment proposal was discussed in last year's Society AGM with majority of the residents providing their consent. The redevelopment dates are yet NOT finalized and also NO goverment approvals for the redevelopment are ready at present. No builder is ready for this redevelopment and so the society has decided to go for self redevelopment.
The buyer's bank will NOT disburse the Loan amount if the Society NOC has an additional redevelopment point outside of the prescribed bank format.
In the aforesaid situation, below are my burning questions:
1. Is there any option like Indemnity Bond / Collateral so that the bank becomes ready to accept the said NOC with the additional redevelopment point?
2. Is there any Society Bye Law so that the Society can be legally forced to issue the NOC in prescribed bank format?
Thanks in Advance.
Kumar K
02 August 2022 at 17:06
Someone gave 2 Cheques to me without dates and said please deposit next month or by next month, but when I verified in the bank the banker said this account was already closed and the concerned person denied giving other running account cheques. so what do I have to do further? can I give a complaint at the police station? and how to proceed legally. please advise
Dinesh Kandpal
30 July 2022 at 18:05
Hello sir,
Income tax department has raised queries on capital gains so need your suggestion.
1) They say allotment letter issued by the builder on their letter head doesn't have a seal so it cannot be recognised as valid allotment. The allotment was from April 2015 and property registered in May 2016 so they claim 2016-2017 ready reckoner as market rate for capital gain.
2) Source of Payment - As the funds are directly paid from Mothers account, so can we show the bank statement of the mother as payment proof? They don't consider receipt issued by the builder as evidence. Please guide.
Regards
Dinesh
Anonymous
14 July 2022 at 03:06
Our Housing Society in Mumbai negotiated and signed MOU with a Developer (a Pvt Ltd Comoany) for Redevelopment of our Society blogs. At the time of signing the Development Agreement, the Developer wanted the Society to sign the DA with its Wholly owned subsidiary, another Pvt.Ltd. company. Over the years this Wholly owned subsidiary has failed to honor its commitments as per DA like paying Corpus Fund, Compensation for Temporary Alternate Accommodation, Penalty for delayed possession etc. They are also not following certain clauses detrimental to the interests of the Society members. They say they are in financial difficulties. What are the responsibilities of the Holding Company under such circumstances and what action the Society can take against the Holding Company?
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Pre closure of personal loan
There is a personal loan with a private bank of 12 months term. 4 installments have been paid without any break. I need to pre close it so that there is no financial debt and may be avail finance for business from another bank. I am willing to pay all the remaining EMIs with preclosure penalties if any. But the bank is not permitting it. There is a clause in the loan agreement that the loan cannot be prrclosed. But this looks against natural justice as I am willing to pay all the dues and penalty if any. The liability of a borrower must be to repay with all interest even to the extent of full term. Are there any RBI norms governing this. What is the way out to preclose the loan. Thanks for any good advice