Seeking help to gaurantor
Sreenivasa Rao. S.
(Querist) 27 October 2015
This query is : Resolved
Dear Sir,
All your suggestions are excellent.One my friend stood as a guarantor
at OBC, Ameerpet branch, Hyderabad, to a firm who availed a CC loan of
Rs.60.00 Lacks, the guarantor has mortgaged his flat value Rs.25.00
lacks along with borrower flat value Rs.18.00 lacks.The account became
NPA in 2013. The OBC officials has started sending notices both, and
filed a case against both at DRT, Hyderabad.At Lok Adalat we requested
to settle for Rs.35.00 Lacks which they have not accepted and final
settled for Rs.43.00 lacks. The judgment was in favor of Bank, they
obtained an order to take physical position of both the properties
through advocate commissioner appointed by the Honorable Court and
published in paper for auction scheduled on 15th October,2015. As a
guarantor we again requested the Branch Manager who asked us to see
the Regional Head.The AGM at Regional Office has not cared to talk
with us.He shouted on us and asked to go out if we dont pay Rs.40.00
Lacks on 30th September,2015 since it is Half Yearly closing day.We
were ready to pay Rs.20.00 Lacks on 30th and balance Rs.18.00 before
action date subject to their OTS letter.They refused.We have no other
option to stop stop the auction of guarantor flat we have appealed to
Honorable High Court for seeking relief of stay which has been
granted.After stay is granted we again approached the Regional Head to
consider our request for Rs.38.00 Lacks and the Regional Head has
considered for Rs.39.00 Lacks, which we have accepted subject to
condition against the OTS letter immediately the guarantor has to
remit Rs.25.00 Lacks and pre delivery of position of guarantor flat,
and balance Rs.14.00 Lacks within two months to release both the
documents, and asked us to submit letter to the branch manager for
recommendations to obtain permission from their Head Office.
When we approached the branch manager on the same auction day, he
refused to recommend and he will discuss on the second day. Next day
he informed us the flat of the main borrower offers were received and
he cannot consider our request, still we requested him to recommend
for Rs.39.00 Lacks, after deduction of the offer received for the main
borrowers asset, we will pay the balance in a single payment which is
arriving to Rs.23.00 lacks, he has not accepted and demanded to pay
Rs.25.00 Lacks, like wise the Branch manager has troubled the
guarantor now who is on the road with wife and two children.One boy is suffering with brain tumor, he needs personal care of parents which is now not possible.
Please suggest us what kind of auction can we take on the Branch
Manager who troubled us for his own benifit,
S.Srinivas Rao.
9849930386
R.K Nanda
(Expert) 27 October 2015
query too long.
Rajendra K Goyal
(Expert) 28 October 2015
Bank Manager was performing his duty and nothing illegal was done by him in not accepting and recommending as per your request if it did not appealed him / considered in best interest of the Bank. You want to punish a person who has extended his support in conducting of the account, the account was NPA due to fault of borrower and the Manager was duty bound to keep and save the interest of the Bank. You want to punish him for his loyalty to his Bank and for your fault. You may proceed.
T. Kalaiselvan, Advocate
(Expert) 01 November 2015
In the given scenario, you may once again have to approach high court only to bring the reluctant bank officials to negotiations table.
