Legal Question in Banking Law in India

YOUR OPINION PLEASE:--

DRT PASSED ORDER AS : "'THERE IS NO EXPLANATION FROM THE BANK SO FAR AS MAINTAINING OF THE ACCOUNT IS CONCERNED AND IT IS CLEAR IN ALL THE BANK CASES AND THE ACCOUNT COPY WILL FASTEN THE LIABILITY BUT IN THIS CASE THE ACCOUNT ITSELF IS INCORRECT AND PEOPLE WILL BELIEVE THE ACCOUNT COPY OF THE BANK AND THIS ACCOUNT COPY SEEMS TO BE TOTALLY INCORRECT IN VIEW OF THE SEVERAL PAY IN SLIPS FILED BY THE DEFENDANTS WHICH ARE MARKED AS EX. B13 TO EX. B18 CONTAINING MANY BOOKS. IN THESE CIRCUMSTANCES THE ACCOUNT COPY CANNOT BE BELIEVED AND THEREFORE THE OA HAS TO BE ALLOWED ONLY FOR THE AMOUNT OF RS. 11,28,685/- WITH SIMPLE INTEREST @6% PER ANUM FROM THE DATE OF OA TILL REALIZATION. THIS RECOVERY CERTIFICATE IS BEING ISSUED SINCE IT IS PUBLIC MONEY AND THERE IS NO DOCUMENT TO SHOW HOW MUCH AMOUNT IS ACTUALLY DUE TO THE APPLICANT BANK. THE BANK NEVER PROVED THE AMOUNT DUE . IT IS THE INITIAL BURDEN ON THE BANK ACCORDING TO THE EVIDENCE ACT SEC. 101 TO 103 , AND THE INITIAL BURDEN IS NOT DISCHARGED BY THE BANK. THEREFORE, THE BANK CANNOT BASE ON THE DEMERITS OF THE DEFENDANTS CASE."

ON OR AFTER DRAT "AS SUCH ON THAT GROUND ITSELF THE JUDGEMENT OF THE DRT HAS TO BE SET ASIDE AND IT IS SET ASIDE." "THE RESPONDENT BANK is hereby directed TO PREPARE THE DETAILS OF AMOUNTS DEPOSITED BY THE BORROWER AND ALSO FDRS DETAILS WITH ACCRUED INTEREST AS ON THE DATE OF THE ALLEGED ADJUSTMENTS , AND SUCH STATEMENT S SHALL BE FURNISHED TO THE BORROWER: WHEREUPON THE APPELLANTS COULD FILE OBJECTIONS IF ANY AND THEREAFTER THE P.O SHALL ALLOW THEM TO ADDUCE ORAL EVIDENCE ON THAT LIMITED SCOPE AND AFTER HEARING BOTH SIDES, THE P.O, DRT SHALL DECIDE THE MATTER. TWO MONTHS TIME IS GRANTED TO FURNISH SUCH DETAILED STATEMENT. BOTH SIDES SHALL APPEAR BEFORE THE DRT ON 26/3/2015. THIS APPEAL IS DISPOSED OF ACCORDINGLY SETTING ASIDE THE IMPUGNED ORDER OF THE DRT AND BY REMITTING THE MATTER BACK TO DRT AS AFORESAID."

DRT P.O.NO REGULAR POSTED FROM 1-1-2015. BUT BANK NOT AT TRY TO SUBMIT ANY ACCOUNTS TO COURT OR TO PARTY EVEN CONTACTED BANK OFFICIALS FROM TOP TO BOTTOM. ALL ARE SILENT WATCH AS SPECTATOR.

NO COURT DECLARED PARTY AS DEFAULTER. ONLY ON SYMPATHY GROUND BANK GOT DECREE.

PARTY AMOUNTS ARE NOT PUBLIC MONEY. ITS NOT CHARITY INSTITUTION. ITS ONLY PROFIT

ORIENTED PARTNERSHIP FIRM. ALREADY 1 YEAR 3 MONTHS LAPSED BANK NOT RESPOND. MANAGER,A.O visiting DRT&DRAT; AS HONEYMOON TRIP SPENT AND DEBIT TO PARTY ACCOUNT. LEGAL fees Adjustments., Security pays 5,000 debiting 15,000/-.

PARTY FULLY FALL IN FINANCIAL PROBLEMS. WHAT ACT APPLICABLE TO RECOVER PROPERTY? ELIGIBLE FOR LOSS AND COMPENSATION WITHOUT

ANY LEGAL EXPENDITURE,&TRAVELING;. ANY REMEDY.Now DRT opened case asked bank to file documents for final disposal. THE Matter is now reserved for final orders.

My question Here party required any lawyer until bank filed documents. Your opinion more valuable for JUSTICE.

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Asked on 5/21/16, 9:31 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

21.05.2016

Dear A K S Prasad,

All these points ought to have been brought out during submissions and hearing. You should await the final Court order and judgement.

Regards,

Read more
Answered on 5/21/16, 10:11 am
Dr Katta Venkata Rama Krishna Drkattavrk

1) Bank interest and charges should be applied on the account till the date of filing suit before DRT

2) The detailed statement should be furnished to the borrower as per the DRAT order.

3) For the delayed submission, legal expenses, TA/DA of the officials cannot be charged

to the borrower but separately presented to the Tribunal.

4) The defendant/respondent shall verify whether other expenses are reasonably applied and challenged.

5) Engage an experienced lawyer in Banking DRT cases otherwise the Bank will exorbitantly penalize

the crippled borrower.

6) Before the final order is pronounced, bring all the points to the notice of Tribunal.

7) The Bank can recover the decretal amount from the borrower property through e-auction.

8) Otherwise u hv to appeal against such orders.

Read more
Answered on 5/21/16, 10:21 am


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