@G.L.N. Prasad: My grateful thanks for all your advice. The reason why I did not provide all details is both because it is cumbersome, bizzare and may even appear paranoid! My experience has shaken to the foundation my faith in our banking establishment, especially our nationalized banks, whom I thought were meticulous in what they do. Due to the events of the past few years I have become thorough with the Sarfaesi Act and RDDBI Act, and the various case Laws. I have learnt not to Trust even those who are sworn to watch out for and protect the interests of their clients - like lawyers. I have learnt that the Presideng Officers of the DRT sometimes behave like extensions of the Bank, and one can prevail only in DRAT or the High Court. (Which I have, but the Bank can be relentless)
I am the victim of a well orchestrated property grab operation by unscrupulous Bank officials in collusion with certain builders. The property in question is my inheritance, and located in perhaps the poshest area in a State in the South. I have been driven to a state wherein I want to fight back, yet scared of repercussions about what can be shared in a public forum and to what extent. Having lived abroad for a significant period of my life, I have come to trust in the system, in the inherent decency of human beings, and that due process would be followed. My motherland shocks me and my experience has colored my perception of this great nation.
I have found out the innumerable violations of the Sarfaesi Act, which will be adjudicated in the DRT. It was then that I thought that I will focus on the Banking aspects of the loan. What I have unearthed so far has been shocking, and from the limited documents I have been able to procure so far. It has been a set up from the get go, with crucial documents mysteriously disappearing or unable to be found. One of which is the formal Application form that I filled. This would have shown that I had applied for a simple mortgage loan, but I was instead provided with a Cash-Credit loan under the SME Segment with Reduction in Drawing power under Women Entreuprenuers. I am an IT professional, with NO building experience, or entreprenuer background Term was for 23 months, with a clause allowing for Bank to extend the term two more times (23 months each). Just a month after the loan was given, I was relentlessly hounded both by Bank and their agents to enter into a 'Joint Development' with a Builder. That I would otherwise be unable to finish my building, manueur the bureaucracy etc., We had an excellent Team of Architects, Structural Engineeres, Labor Contractors, etc., The building started going smoothly, .....I do not wish to bore you with the details, for I do not know how much of it is necessary. For credibility's sake, when my case was appealed in the High Court the Hon'ble Judge was aghast, and had refered to the Bank as "someone dealing in real estate business", recorded his "anguish", and once again refered to the Bank maintaining positions which have "relevance only in real estate dealings".
My quest now is to unearth wrongdoings by the Bank from the application process and violating pretty much ALL conditions in their Letter of Arrangement with me. I am not clear as to how this would help me, except for a gut level belief that it woudl force the Bank to negotiate with good faith. As examples:
1. The Original Loan applicaiton is not being produced by the Bank.
2. Charging me for regular monthly, periodic and random inspections, and producing a single sheet of inspection report signed by the same person with the same ink and in such a neat column manner that it is evident it was hastily put together, and inspections done a number of times for FUTURE dates. This too was incomplete.
3. Selling away ALL of the raw materials at the site, steel rods, cement, wood, centering materials etc., eventually emptying out the building, and now claiming that there is no inventory present, even while charging me for expensive security for guarding the premises. Their own Panchanama belies their now claim.
4. Can an SME loan even be given to a foreign national on a tourist visa? I believe that they ought to have gotten some kind of RBI clearance for the same. My entire 'loan' was processd in 8 days, and no PAN card, KYC, etc., was required of me.
There are too many things, and too depressing to recount. This is a nationalized Bank! If this can happen to an educated lady, who is willing to fight, what about the happless thousands of people who simply do not have the werewithal, stamina or patience to fight? We hear a lot about NPA's in Banks. How many of them are due to wanton actions by the Bank to force NPAs for various reasons?
There has got to be a way sir. There has got to be a better way, and there has got to be a forum where such eggregious grievances can be brought to light! I can't do it on my own! People think that just because I have a property in that particular place I have to be loaded with money! This is not the case, and it just happened that this was from my grandfather. I hope to win, or perhaps the Bank will prevail because they are big, have unlimited resources, and the system is stacked in their favor.
Thank you very much.