Legal Question in Banking Law in India

notice under sarfaesi act

I was compulsorily retired from service on 23.04.2007 from Deccan Grameena Bank as a punishment

i was asked to repay the total dues OF THE STAFF HOUSING LOAN TAKEN ON CONCESSIONAL RATE OF INTERESTwith commercial rate of interest as the account turned non performing asset WHICH IS NOT TRUE

the last credit was on 18 february 2008 by way of my terminal benefits

not even a single rupee of my terminal benefits was paid to me since 23.04.2007

NO INFORMATION ABOUT THE DETAILS OF THE TERMINAL BENEFITS PAID TO ME WERE INFORMED TO ME TILL DATE

i do not have any source of income to repay

please advise


Asked on 2/23/09, 1:45 am

3 Answers from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Re: notice under sarfaesi act

Already replied.

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Answered on 2/24/09, 7:06 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: notice under sarfaesi act

You may need to initiate legal proceedings against your employer for release of your dues. It is may be better to engage a local Advocate for pursuing your remedies.

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Answered on 2/23/09, 7:40 am
J. Radhakrishnan independent Practice

Re: notice under sarfaesi act

file a writ petition in the High Court which has jurisdiction over the Bank in question. Before doing that issue a proper legal notice seeking payment of gratuity, provident fund and pension, if available under your service rules. If u don't get proper response, file a writ petition for writ of mandamus to the Bank to pay your terminal benefits and also for quashing the charging of commercial interest on the loan taken by you.

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Answered on 2/23/09, 9:09 am


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