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RAJU O.F., 's Expert Profile

Queries Replied : 875

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Have experience of 32 years in banks. Resigned from the South Indian Bank Ltd, while being Senior Manager & DRT Liaison Officer, in 2003. Practing as lawyer since 2003. Settled in Chennai for last 15 + years. Origin-Trichur, Kerala. Instrumental Musician-Mandolinist.

    What kinds of questions I can and can't answer?
    Being a retired senior officer of bank and as a practicing lawyer, I can answer questions on banking with special reference to under DRT Act and SARFAESI Act. My prefer practice, in Debts Recovery Tribunals and Appellate Tribunals.

    My area of expertise
    Banking Law and Practice & Proceedings under DRT Act & SARFAESI Act

    My experience in the area (years):
    27 years+ in banking and 7 years+ as practicing Lawyer.

    Organizations I belong to:
    Independent practice as Advocate & Legal Consultant

    Publications or writing which has appeared :
    Two articles in "The Hindu" paper one on DRT proceedings and the other on Remedies available to borrowers under SARFAESI Act. Further, several articles in magazines of The South Indian Bank Ltd and The Catholic Syrian Bank Ltd, etc.

    Educational credentials:
    B.Sc.(Physics), LL.B(Special), DML, DIR,DLL, PGDBA

    Award & Honors:
    Prizes mainly as an Instrumental Musician-Mandolinist

  • Yogesh says : auction
    if the muthoot finance auction my gold what doe i do ? It shows that principal amount Rs.1,07,000 (Rupees one lac seven thousand only) against Collateral Security of Gold Ornaments and interest Rs.57,816 for 17 months 10 days. The original rate of interest is 2% per month as agreed upon and the actual interest for 17 months 10 days should be Rs.37,086 (Rs.1,07,000*2%=2,140 per month *17 months and 10 days). Now I am very surprised to see that the amount of interest calculated by Muthoot Finance Ltd.i.e.Rs.57,816. The difference amount of interest is Rs.20,730 (57,816-37,086) that is almost double of the actual and put the burdon of the interest on the head of the customer though the customer is having the intention to pay the loan with actual interest and also you have even not followed the nature of justice by putting an un-appropriate burdon of interest on the customer. I am ready to pay the interest amount as agreed @ 2 % per month and which is justifiable to the me. I am very happy if you put the appropriate burdon to the me without imposing the excess heavy burdon of interest ,which is twice of the interest amount as I already given to you my Gold ornaments and also this rate of interest @ 2 % in higher side as the collateral security of Gold ornaments proved. I am afraid that you can manipulated the amount as well misused my collateral security of Gold Ornaments because you do some surprise activities with out knowledge of the customer. I personally visited to your Branch at Chembur and requested kindly accept may cheques and honored the same in to your bank account on due date. but as confirmation received from Muthoot officials the companies policy is that the Muthoot finance does not accept the cheques. i.e. Negotiable Instrument and only payment in cash accepted. That means the company is trying to do all transaction in cash and try to avoid freedom of the customer and try to hide legal cheques transaction of customers. Further I request to you that I will send to you the cheques towards interest portion @ 2% per month as agreed upon, provided all the unnecessary interest burdon release upon my heads as I already stated genuine reason of my illegal termination and financial position. I will courier the cheques as and when I will get some borrowed money from relatives and parents, kindly honored the cheques against interest portion @ 2 % per month as agreed upon. I am waiting for your positive confirmation in this matter as I am facing genuine finance problem and my intention towards payment of loan with interest is very clear and I want my Original Gold Ornaments, already I handed over to you as Collateral Security.

    I am glad to know that such advocates are here for legal help to public PRASHANT PANDEY ADVOCATE HIGH COURT ALLAHABAD 9451851064

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