Site news

BOI THEOREM - CAN'T REPAY RS 50 LAKH TO BANK? TAKE 100 LAKH MORE, MR DEFAULTER

 
 
Picture of System Administrator
BOI THEOREM - CAN'T REPAY RS 50 LAKH TO BANK? TAKE 100 LAKH MORE, MR DEFAULTER
by System Administrator - Monday, 31 August 2015, 5:09 AM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru : "If you owe the bank Rs 100 that's your problem. If you owe the bank Rs 100 lakhs, then that's the bank's problem." So allegedly graft-ridden state-owned banks hide the actual, awful numbers and humour defaulters. It seems Bank of India chief manager at Basveshwarnagar Branch Bengaluru in 2009 onwards adopted theorem that if the borrower cannot repay Rs 50 lakhs and defaults loan he will give 100 lakhs more in loans to defaulter. Bank of India chief manager at Basveshwarnagar Branch Bengaluru was sanctioning so many loans one by one after 2009 (Term loan 1 and Term loan 2 and Term loan 3 and Term loan 4 ) to single person/single enterprise at single branch to M/S Narayan Suggi without any collateral and seems to be sanctioned allegedly to a defaulter and Bank showing no NPA on the account for several years. .How bank of India went on sanctioning loan after loan without any due diligence is also a matter of great concern and subject of Investigation. How it was sanctioned and released Term loan 1 and Term loan 2 and Term loan 3 and Term loan 4 is proof of huge corruption which is allegedly rampant in Banking system . R Jaikumar Dutt said in his letter that "These loans were sanctioned without his knowledge andare no way connected to him as they were given by bank or guaranteed by credit guarantee fund trust of Government Of India and he claimed that he has not guaranteed them as per his Registered "Memorandum evidencing creation of equitable mortgage by deposit of title deed” dated 06-09-2012 . Till today Bank of India did not informed him by any letter or communication to him that it has released this loan of "Total cash Credit limit and Term Loan(fund Based) of Rs 120 Lakhs ” to M/S Narayan Suggi . Hence he requested BOI to release his security and return his title deeds forthwith as you have not released this loan and you had no intention of releasing this loan. Bank of India notices to M/S Narayan Suggi in respect of other loans Term loan 1 and Term loan 2 and Term loan 3 and Term loan 4 are MSME Loans given under CGTMSE collateral free loans which does not warrant collateral and as they are collateral free loans are no way connected to him as they are guaranteed by credit guarantee fund trust of Government Of India as stated by R Jaikumar Dutt in his letter dated 24-08-2015 to Bank of India.

I have asked Bank of India to provide me informationunder section 4(I) (a) (b) (c) (d) RTI Actaction taken report as per letter of the R Jaikumar Dutt No 81 Royal Palm Layout Gubbalalu Village Adjacent Mantri Bangalore:560061 dated 24-08-2014 in respect of his guarantee in Loan Account of M/S Narayan Suggi which was limited to a new Loan of "Total cash Credit limit and Term Loan (fund Based) of Rs 120 Lakhs ” as per his Registered "Memorandum evidencing creation of equitable mortgage by deposit of title deed” dated 06-09-2012 . Till today Bank of India did not informed him by any letter or communication to him that it has released this loan of "Total cash Credit limit and Term Loan(fund Based) of Rs 120 Lakhs ” to M/S Narayan Suggi . Hence he requested you to release his security and return his title deeds forthwith as you have not released this loan and you had no intention of releasing this loan. Your notices to M/S Narayan Suggi in respect of other loans Term loan 1 and Term loan 2 and Term loan 3 and Term loan 4 are MSME Loans given under CGTMSE collateral free loans which does not warrant collateral and as they are collateral free loans are no way connected to him as they are guaranteed by credit guarantee fund trust of Government Of India . He was not aware of Bank of India sanctioning so many loans M/S Narayan Suggi (Term loan 1 and Term loan 2 and Term loan 3 and Term loan 4 ) to single person at single branch .How bank of India went on sanctioning loan after loan without any due diligence is also a matter of great concern. How it was sanctioned and released Term loan 1 and Term loan 2 and Term loan 3 and Term loan 4 .Theseloans were sanctioned without his knowledge andare no way connected to him as they are given by your bank or guaranteed by credit guarantee fund trust of Government Of India and I have not guaranteed them. and there is no mention ofTerm loan 1 and Term loan 2 and Term loan 3 and Term loan 4 in his "Memorandum evidencing creation of equitable mortgage by deposit of title deed” dated 06-09-2012where fore it is not applicable to those loans.Please provide me information and reasons under section 4(I) (a) (b) (c) (d) RTI Acthow you can convertCGTMSE collateral free loans into collateral loans .The Bank of India is THE PUBLIC AUTHORITY under obligation to provide information "PUBLICLY” under section 4(I) (a) (b) (c) (d) RTI Act.

Information is essential for the efficient working of journalists and thus, the Right to Information (RTI) Act is one of the most useful legislations for a journalist. The RTI Act has two basic divisions the first requiring public officials to suo moto publish information pertaining to their departments and the second enabling the public to access information from a public office. The official documentary proof can be obtained by simply filing an application with a fee of Rs. 10.Under Section 2 (j) (ii) of the Act, the applicant can ask for certified copies of the documents or records. This certified copy of the document giving information can be admitted in the Court as Secondary Evidence. Note that under the RTI Act, the right to information includes the right to inspection of work, documents and records; taking notes, extracts or certified copies of documents or records; and taking certified samples of material held by the public authority or held under the control of the public authority. A citizen has a right to obtain information from a public authority in any relevant form including in the form of diskettes, floppies, tapes, video cassettes or in any other electronic mode or through print-outs provided such information is already stored in a computer or in any other device from which the information may be e-mailed or transferred to diskettes etc.

RTI, one of the few weapons the common man has in his fight against the high and mighty, citizens haveunlimited powers under RTI Act 2005.Every PA must understand that "information" is not created in "Paraloka” or "Swargaloka” or in "CIC "or "SIC” which will be given by PA under Section 2(f) of the RTI Act.It is PA which creates the information every day 4(1) (a) (b) (c) and the "information" inany form, including records, documents, memos, e- mails, opinions, advices, press releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data material held in any electronic form need to be created as per 4(1) (a) (b) (c) reasons under 4(1) (a) (b) (c) (d) need to be given by PA tothe affected person and copy of the same can be given to any applicant under 2( f)of RTI Act .The PA should be forced to function and create information strictly as per under 4(1) (a) (b) (c) on the applications and request of public and provide it under 2(f) of RTI Act and information should not be incomplete misleading and falseand public is free to check accountability under 4(1) (d) RTI Act 2005.The Right to Information (RTI) Act is one of the most important tools that can empower the common man, it had become imperative to fight against corruption for the effective functioning of the three pillars of democracy -- legislature, executive and judiciary. The three pillars of democracy had been included in the ambit of the RTI Act and people should make use of the provisions of the Act to bring down corruption. There was a need to create awareness among people on the wide range of powers enshrined in the RTI Act. The educated sections of society must take active part in the fight against injustice and use the provisions of the RTI Act to protect the rights of the people.