Loan recovery from bank
Guest
(Querist) 14 December 2016
This query is : Resolved
Dear Sir
My Father had taken agricultural loan of Rs.20,000/- from Bank of India (Ratnagiri Branch) in the year 2006 but the same is not known / inform to us (family members). In the year 2012 my father is expired. In the year 2014 suddenly the branch manager from above mentioned branch inform me about this loan through my friends in my native place. after few days I visited the branch & had meeting with the branch manager. I asked branch manager to issue notice to me (for loan recovery) or give me in writing the details of loan but he denied for the same. in the last 10 years (from the date of loan taken) we have not received any notice from bank for the recovery of loan/ installment.while discussion branch manager told me that this loan was wrongly treated / accounted in our system & it was not showing in our loan account & during the audit it is come to know. today the branch manager had came to my house & he was insisting my mother to sign some papers. now the bank is insisting to pay Rs. 46000 (20000 principal + 26000 interest)
Please advice on below points
1) How can i make sure that loan was taken by my father
2) how can bank wait till 10 years without recovery of loan
3) how can I check if government had waive off agricultural loan taken from farmers but because of bank mistake this loan was not waive off.
Thanks
Kumar Doab
(Expert) 14 December 2016
Obtain govt notification on 'waive off agricultural loan ' and relate with your father's case.
BM/Bank can not decline to provide you with authenticated copies of loan documents.
The details and docs alone can determine if recovered was time barred or not.
The error in audit is not your doing and your fault.
You may act once the authenticated copy of docs are supplied to you, without any cost to you.
Rajendra K Goyal
(Expert) 14 December 2016
You said:
How can i make sure that loan was taken by my father.
Reply:
If any demand is received, ask the Bank to provide you attested copies of document, account statement.
You said:
how can bank wait till 10 years without recovery of loan
reply:
Only Bank can tell.
You said:
how can I check if government had waive off agricultural loan taken from farmers but because of bank mistake this loan was not waive off.
Reply: Loan was taken in 2006, loan waiver scheme was earlier to it.
Rajendra K Goyal
(Expert) 14 December 2016
It seems the loan is time barred, Bank cannot recover the same. If you or your mother signs any document accepting the liability, liability would be revived for next three years and Banker would be free to proceed legally / may issue recovery certificate to revenue authorities .
There is possibility Banker has written off the outstanding till now. They are trying to recover the written off outstanding.
If any land was mortgaged, the loan can be recovered within 12 years from mortgage deed in some states . Confirm position in your state.
Rajendra K Goyal
(Expert) 14 December 2016
Bank of India is Public Sector Bank, covered under RTI Act, use RTI to get details / copies of loan documents, account statement, why notice was not sent till date, which officials handled the loan in last 10 years, if they were at fault what action was taken against them.
Rajendra K Goyal
(Expert) 14 December 2016
Finally, if liability is proved, you can try for one time settlement.
Kumar Doab
(Expert) 14 December 2016
Mr. Goyal has properly explained : Why BM came to get signatures on some documents.
Ms.Usha Kapoor
(Expert) 15 December 2016
Through RTI application addressed to PIO of the bank you can know whether your father indeed had taken loan or not. If it turns out to be true why bank people after 10 years of gap demanding you to pay the money.If Government bailed out middle class farmers why they left off your father? Everything seems to be fishy.You engage private investigative agents to unearth the truth and unfold the mistery.
Sudhir Kumar, Advocate
(Expert) 15 December 2016
apparently the bank has lost limitation to file suit and are seeking signature on same papers for revival of limitation so that the can now file suit on you.
Sudhir Kumar, Advocate
(Expert) 15 December 2016
you have not stated iof the loan was from gov bank.
Anyway it is govt /cooperative banks only which invest in agriculture.
as on now you have no notice of the pending loan and bank not having filed civil suit cannot be file by them.
SO if you succeed in RTI then you are correcting their mistake. Now you after getting information under RTI have a notice of the loan and your liability starts now.
Success of RTI is conditional. if you make RTI as stranger you will be denied information being 3rd party.
If you file RTI as interest party then you assume the liability to pay which bank has so far not fastened upon you.
So it is not advisable to use RTI against yourself.
Kumar Doab
(Expert) 15 December 2016
Is there NO mortgage on this agriculture Loan?
adv.bharat @ PUNE
(Expert) 15 December 2016
Author need to explain the query raised by expert.
Guest
(Querist) 16 December 2016
Thanks for your valuable replay.
2) land was mortgage & Rs. 20000 liability was appearing on 7/12 of that particular land.
but from last 4 -5 years this liability of Rs. 20000/- is not showing on 7/12 of land. At presently there is no such loan liability showing on 7/12 of mortgage land
2) should I ask branch manager to issue me notice for recovery of loan / installment etc.
Please advice
Rajendra K Goyal
(Expert) 16 December 2016
Respected expert Sudhir Kumar,
Your apprehension on RTI may be correct. However, if the RTI is properly drafted, it can not be used as acknowledgement of debt.
Kumar Doab
(Expert) 16 December 2016
Probably the debt was written off.
Obtain certified copies of so called 7/12 extract etc also.
Rajendra K Goyal
(Expert) 16 December 2016
You said:
land was mortgage & Rs. 20000 liability was appearing on 7/12 of that particular land.
reply:
If land was mortgaged, recovery can be effected upto 12 years on the basis of mortgage loan.
Even if the loan was written off, Bank does not leave the right to recover.
Rajendra K Goyal
(Expert) 16 December 2016
You said:
but from last 4 -5 years this liability of Rs. 20000/- is not showing on 7/12 of land. At presently there is no such loan liability showing on 7/12 of mortgage land
reply:
It may be possible that while preparing new land record (7/12) the patwari forgot to / did not brought forward / taken down the old mortgage details. If so, please confirm whether any de-mortgage mutation was entered between this period. In absence of such Mutation, it was mistake in brought down of the land record to new record. Generally after every 4-5 years new record is prepared from old record.
Not knowing what is the time span to prepare such record in your state.
Rajendra K Goyal
(Expert) 16 December 2016
You asked:
should I ask branch manager to issue me notice for recovery of loan / installment etc.
Reply:
Not recommended.
You may try to get the details through well drafted RTI as advised above. Do not accept any liability in RTI as advised by the expert Sudhir Kumar.
Kumar Doab
(Expert) 16 December 2016
You can meet Patwari and look into Mortgage, De-mortgage details.
It is simple.
Thereafter you can obtain details as suitable including RTI.
Guest
(Querist) 19 January 2017
Hi
Last week we have received a notice of recovery from the bank through post. In notice they have claimed Rs. 20000 (principle amount + 24500 Int = 44500)
After receipt of notice, I checked with Talathi office (Patwari). He said that we have received the letter from Bank in Oct'12 saying that as customer have paid all the outstanding amount i.e 20000/- & there is no pending loan, hence please remove the liability of Rs. 20000/- shown in 7/12.
He (Patwari) also gave me copy relevant document as a evidence.
Please guide me on following
1) I wanted to give replay to notice as well as strict action against bank as since last two years bank is following with us for recovery of loan.
Please note that bank earlier use to send message with my relatives and other public in my native. only one notice I received in last ten years (received on 10th Jan, 2016). Should I escalate this to top management of bank etc?
Please suggest
Guest
(Querist) 19 January 2017
Hi
Last week we have received a notice of recovery from the bank through post. In notice they have claimed Rs. 20000 (principle amount + 24500 Int = 44500)
After receipt of notice, I checked with Talathi office (Patwari). He said that we have received the letter from Bank in Oct'12 saying that as customer have paid all the outstanding amount i.e 20000/- & there is no pending loan, hence please remove the liability of Rs. 20000/- shown in 7/12.
He (Patwari) also gave me copy relevant document as a evidence.
Please guide me on following
1) I wanted to give replay to notice as well as strict action against bank as since last two years bank is following with us for recovery of loan.
Please note that bank earlier use to send message with my relatives and other public in my native. only one notice I received in last ten years (received on 10th Jan, 2016). Should I escalate this to top management of bank etc?
Please suggest
Rajendra K Goyal
(Expert) 19 January 2017
Reply the notice through your denying any liability, enclose copy of letter as proof.
Obtain certified copy of the letter at talati office through RTI.
Kumar Doab
(Expert) 19 January 2017
Proceed as advised by Mr. Rajendra K Goyal.
