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CHETAN KUMAR SHARMA

Posted 4 months ago

This is regarding the final judgement given by the presiding officer DRT regarding the auction of the mortgaged property since the builder has not given the possession.In the order it is stated that any shortfall in the mortgaged property the amount shall be recovered from the builder and then borrower. Secondly in the order they have not attached the mortgaged property which is not in my name. Can i go to the consumer court or rera in this regard? Kindly advise.

A. I dont' feel the need of going to the court.
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Rameshwar  Dadhe
Rameshwar Dadhe Experience: 2 Year(s) Aurangabad
Sanjay Kumar Jha
Sanjay Kumar Jha Experience: 17 Year(s) Patna
My father was a pensioner and he passed away recently. We received a notice from a bank to pay an outstanding loan for 3lakhs which was sanctioned in 2014 and was not paid from 2017 as per the letter. None of the legal family members are aware of this. We don't know how a loan can be sanctioned to a pensioner of 75 years without the family concern. Please advice ....

A. Dear Sir,
Usually such loans are insured as such you did not pay. Secondly such personal loans cannot be sanctioned and claim waive off. Thirdly the said amount not used for his legal heirs as such you are not bound to pay the same. Ask them to approach Civil Court then you engage advocate and take strong defence.
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Raghu  Rajegowda
Raghu Rajegowda Experience: 5 Year(s) Bangalore
Suneel  Moudgil
Suneel Moudgil Experience: 15 Year(s) Panipat
Rameshwar  Dadhe
Rameshwar Dadhe Experience: 2 Year(s) Aurangabad
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Sanjib Roy

Posted 4 months ago

i have a Insta Jumbo Loan from HDFC Bank Credit Card since Dec 2016 with EMI of Rs. 7398.79 which being auto debited on 24th of every month, but due to sudden crisis i was not able to pay my April EMI, As a result they freeze by Savings Bank account for 5 days of this month, for that my LIC ECS was bounced instead having balance in my savings account. After that I had written a letter to the bank authority that why they did this without informing me and i have stopped my next ECS also. They called me several time and i asked them please reply my letter. They did not reply me till date and now they served me the Demand Notice under Sec 25 of Payment and settlement act. I can’t understand what should i do? Please advice. Thanks Sanjib Roy

A. Dear Sir,
It attracts offence under Section 138 of Negotiable Instruments Act treating it as equivalent to cheque bounce. The amended act is as follows:
==============================================================================
Section 25 in The Payment and Settlement Systems Act, 2007
25 Dishonour of Electronic Funds Transfer for insufficiency, etc., of funds in the account. —
(1) Where an electronic funds transfer initiated by a person from an account maintained by him cannot be executed ...ReadMore
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Gopinath PG

Posted 4 months ago

Does police involve for non payment for credit card dues, executive calls & threatens police will come with warrant to arrest

A. Dear Sir,
It is purely a civil case. The police cannot help the bankers or their money recovery agents. A legal notice is sufficient.
======================================================================
ICCI Bank Limited vs. Prakash Kaur case,

The Supreme Court in a landmark judgement reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.

"We deem it appropriate to remind the banks and other financia ...ReadMore
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Shreyash  Mohta
Shreyash Mohta Experience: 1 Year(s) Kolkata
Sayaree  Ganguly
Sayaree Ganguly Experience: 2 Year(s) Hooghly
Rameshwar  Dadhe
Rameshwar Dadhe Experience: 2 Year(s) Aurangabad
I am the proprietor of start up business valued around Rs 2 Crores and I am aged around 71 years without any liabilities from any bank. Now, one of our family friends requests me to be the SECOND GUARANTOR for Rs 15 Crores of Business loan sanctioned against his own property valued around Rs 60 Crores.Already one more guarantor is available. I do not have any assets on my name. The property intended to give as security does not have Patta but funding company has not raised any objection.Whats is the risk involved to be a second Guarantor. The lender offers Rs 25 Lakhs as interest free loan and Rs 40 lakhs loan with interest of 18 % for my business. Could you please advise whether , I can be a second Guarantor.

A. If you become the second guarantor then you shall be liable to repay the loan after the failures of the borrower and 1st Guarantor.
Eg: if both of them are unable to repay then you shall be liable to repay the whole amount.
Eg 2 : If both of them pay parts of the loan amount then you shall be liable to pay t he remaining part which is not yet paid.
Thanks
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My father had a stroke 2 weeks back.and he has home loan.so i want to claim insurance for home loan.so please give some advice how to do.and what are the process.please tell in depth.so i can approach

A. I shall need to study the policy documents before advising. Please consult me so that I can give you good advise.
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Anonymous

Posted 4 months ago

my friend reqstd me to say a lie about the money, actually the thing is he took 40k from his uncle nd used that money nd he rqstd me that tell to his uncle ki you took nd u wll return him in 1 week nd i said same thing to his uncle but he my frnd did not returnd him on time so can he file a case against me?

A. Dear Sir,
You are not liable. Be cool.
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Anonymous

Posted 4 months ago

I had taken housing loan from bank in the name of my &wife.my housing loan account is running regular till date.I also enjoying personal loan overdraft facility from same bank.now bank refused to renew account so account showing NPA Now bank issued me 13(2)under SERFESAI.but my housing loan account is regular and we have mortgage our property for housing loan only now bank clubbed my all loan accounts and send notice .can bank do this?

A. Dear Sir,
You may approach DRT (Debt Relief Tribunal) and get stay of the said notice if not in High Court.
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Rameshwar  Dadhe
Rameshwar Dadhe Experience: 2 Year(s) Aurangabad
Shreyash  Mohta
Shreyash Mohta Experience: 1 Year(s) Kolkata
Suneel  Moudgil
Suneel Moudgil Experience: 15 Year(s) Panipat
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Anonymous

Posted 4 months ago

Hello Sir, My brother got loans and credit cards from some other banks. He paid emi regularly but unfortunately partner cheated my brother in business. They didn't response (Partner) properly. So now brother should pay the amount for bank but he can't able do that now. He ran some other place but bank continuously asking to our family where he is? I am also giving some money for my brother (Loan) and now i am paying emi for that. I don't know how much he borrowed from the bank.I am very frustrated now. How can I handle this case? Need to write anything to bank for don't disturb me? How to write that?

A. Dear Sir,
You may approach Civil Court and get a suit filed restraining them from interfering with your person and property except in due course of law. Then they need to file Money Recovery Suit wherein it will be hard for them to establish their case.
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Anonymous

Posted 4 months ago

I am working in Navodaya urban Cooperative Bank Ltd. Nagpur. The said was founded according to provisions of MCS Act 1960 in 2000 and due to financial crisis aroused from July 2015, RBI has imposed restrictions u/s 35A of Banking Regulation Act 1949 on the Bank and on 15/12/2016 & further cancel license of our bank on 8/10/2018. The Registrar of cooperative societies, Maharashtra State, Pune has passed liquidation order and appointed liquidator on the bank on 11/10/18. Employees of our bank are being paid salaries according salary agreement approved by the then board of directors for the period of 1/1/2010 to 31/12/2015. Since from 1/1/2016, fresh salary agreement was expected to be made and revise salary of the employees. The BOD of the Bank has passed a resolution regarding revised salary fixation of employees on 30/05/2017. But due to sudden dismissal of BOD of bank by registrar and appointment of administrator on 12/06/2017 on the bank, administrator refused to implement the effect of wage revision to the employees. Now In the event of liquidation of our bank, we had demanded implementation of pending wage revision according to approved resolution from 1/1/2016 along with arrears thereof. But the liquidator denying our demand sought legal rules for the same. So, kindly guide us in the matter along with with rules and case study if any and onlige us.

A. This is an in depth matter which requires time and research and a legal opinion.
Kindly contact me personally and then we can talk over your issue.
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