Legal Question in Banking Law in India

hello sir,

i have one qution.. i have preaparing ibps exam. ibps is the service bord for taking nationalized bank. but my promblem is before 16 month i had worked in icici bank ltd as a sales officer. this bank gave me one mont sales training. and this training cost bank deducted my sallery. but i seen in this bank for sales officer no career or no growth after 10 year. so i decided to left job only after month and not paid to training cost. then after 7 month i got demand legal notice by icici bank ltd. but i have not give any answer for this notice. and after 6 month again i got demand legal notice same. but at that time i have no money for giving that much ammount for training cost so i avoid the legal notice. my 10 th marksheet taken by icici bank ltd. when i join the bank and to given back . if i will not pay this amount then bank take legal action. if i will pass ibps exam then any problem for nationalize bank. because i have defaulter for bank. so any problem for any indin bank getting job? i have write this legal notice under. please give me help.

demand legal notice

madam/sir,

sub: rrepayment of rs.37944.00 availed by you by way of an "advance against salary' for undertaking a certificate course in icici bank ltd sales acadamy.

with reference to the subject matter, we wish to state that under the employee benefit scheme of icici bank ltd.(hereinafter referred to as the "bank"), you have availed an 'advance against salary' towards payment of fees for the cost of your training. such facility was provided to you under the terms and condition of your employement with the bank and you, under such terms and conditions were bound to repay the said amount. the perticulars of the said facility are provided herebelow for your reference:

course: retail banking sales management; batch: itm vadodara batch 5; applicant id 2103214; amount paid for course fees amount: rs.30000.00

you are requested to take note that you, while aviling the advance facility, had assured the bank that you would abide by all the terms and conditions of the said advance scheme had executed relevant document including an indemnity bond to that effect.

thereafter, you, contravening the agreed terms and conditions, have failed to repay/close the aforementioned advance after your resignation/termination from the services of the bank. despite various reminders and follow-ups, you have neglected and avoided to repay the outstanding dues to the bank.

the detail of outstanding dues under the aforesaid loan(s) are as follow:

course: retail banking sales management; batch: itm vadodara batch 5; applicant id; 2103214; total outstanding amount; rs 37944.00

total outstanding as on : 13/10/2015

in view of the default in payment of dues, the bank, as a final opportunity, hereby calls upon you and demands of you to pay an ammount of rs. 37944.00 ( total dues including interest) along with applicable interests of 24% per annum, within 15 days from the date of receipt of the notice failing which the bank shall be constrained to initiate appropriate legal proceedings against you.

you are hereby informed that you are welcome to deposit your payments in this regard towards account number 000405011074 ( account pertaining to icici bank ltd) by visiting any branch of the bank as per your convenience. while depositing such ammount, please disclose your name and employee number to the concern branch officer and once the deposit has been made, please inform us about the date and amount of deposit by mailing us @ [email protected].

it is pertinent to state that, upon your failure to meet the demand of the bank of repaying the outstanding dues accured against the aforementioned facility granted by you, the bank reserves the right to initiate legal proceeding before the court of law and you shall be solely responsible for the cost and consequences of the same. further you may please note that the bank also reserves the right to share the details of your default with your employees and other concerned institutions.

this notice is is issued without prejudice to our right to initiate legal proceeding against you and guarantor/s if any for recovering the amount due to the bank.

your sincerely,

for icici bank ltd.,

authorised signatory

what i do?

thanks..


Asked on 12/01/15, 12:40 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

02.12.2015

Dear Sir / Madam,

You have posted this query again with more detail. ICICI Bank ought to have deducted a part of the training cost from your one month's salary. So say, for example, ICICI Bank agreed to pay you a starting gross salary of Rs, 20,000/- per month and issued you an Appointment Letter stating that Rs 5,000/- per month will be deducted from your salary from the month succeeding your period of training. If the training period and actual cost of training incurred by ICICI Bank was for one month, you still owe ICICI Bank Rs, 10,000/- plus simple interest @ 8% per annum for the 16 months period - Rs. 11,066.67 ps since you worked with ICICI Bank for only one month, if they did not pay you any money for the one month period of training you underwent in ICICI.

Regards,

Read more
Answered on 12/01/15, 9:13 pm


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