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BANKS “BLINK” “MALLYA DEAL IS ON THE CARDS” MALLYA MAY GET ONE TIME SETTLEMENT OPPORTUNITY

 
 
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BANKS “BLINK” “MALLYA DEAL IS ON THE CARDS” MALLYA MAY GET ONE TIME SETTLEMENT OPPORTUNITY
by System Administrator - Wednesday, 6 July 2016, 11:17 PM
 

By : M.S.Yatnatti Editor and Video Journalist Bengaluru : Reportedly State Bank of India chairperson Arundhati Bhattacharya is said to have informed a parliamentary committee that lenders are willing to settle with tycoon Vijay Mallya if he repays the outstanding principal of the Kingfisher Airlines loan along with small penal interest.If the lenders' stance is accepted by the government, then the latest development could mean a breakthrough in settling one of the most high-profile bad loan cases involving Indian industrialists. SBI chairman Arundhati Bhattacharya told TOI: "Parliamentary committee proceedings are a privileged communication and I cannot comment or communicate on the same."During a recent off-the-re cord conversation, ad visors to Mallya's tot tering UB Group have spoken about rea ching an understan ding with bankers on a possible deal. This involved payment of outstanding principal of Rs 4,850 crore, an interest payout of Rs 150 crore and meeting the lenders' legal fees. They had, however, said a settlement could mo ve forward only with political consent. Vijay Mallya, who is currently in London and facing an extradition request, has become a symbol of the domestic banking system's fight to recover loans from the defaulting billionaires. A settlement enables Mallya's return to the country.

Request to made stop the auction notice and provide One Time Settlement opportunity under the RBI scheme toSmtM Rukmani D/O Munivenkatappa R/a No 149,4th cross 2nd Main Road Vinayaka Nagar Bangalore-56oo70. The RBI scheme is applicable to all Banks and the Banks are bound to follow the scheme guidelines issued by RBI from time to time in respect of term loan of Smt M Rukmani D/O Munivenkatappa and others Account number 50/509/000178 sanctioned on 27-08-2008.In the mean while it isrequested to bank to stop the auction notice and keep in abeyance all court proceedings as it is reported that your borrower went into business problems and her cash flow was not in good condition and shewas not able to pay your out standings in time . As she is entitled for OTS under the modified guidelines of the RBI and she can pay 25% within three months and balance 75 % within one year.

I have asked The Public Information Officer and joint Registrar of Cooperative Societies (Urban Banking Cell ) , Aliaskar Road Bangalore; 560001and Public Information Officer and The Manger and Authorized officer, The Grain merchants Co-Operative Bank Limited No 2 Pampamahakavai Road Chamrajapet Bengaluru-560018provide me the information and reasons under section 4(1) (a) (b) (c) (d) for delay in taking action as per borrower request to stop the auction notice and provide One Time Settlement opportunity under the RBI scheme toSmtM Rukmani D/O Munivenkatappa R/a No 149,4th cross 2nd Main Road Vinayaka Nagar Bangalore-56oo70 .. The RBI scheme is applicable to all Banks and the Banks are bound to follow the scheme guidelines issued by RBI from time to time in respect of term loan of Smt M Rukmani D/O Munivenkatappa and others Account number 50/509/000178 sanctioned on 27-08-2008.In the mean whilerequest is made to you to stop the auction notice and keep in abeyance all court proceedings as it is reported that your borrower went into business problems and her cash flow was not in good condition and shewas not able to pay your out standings in time . As she is entitled for OTS under the modified guidelines of the RBI and she can pay 25% within three months and balance 75 % within one year. This information and reasons need to be provided to me as per Guide on RTIto Information Act 2005 published by the Government of India Ministry of Personnel, Public Grievances & Pensions Department of Personnel & Training (available here :http://rti.gov.in/RTICorner/Guideonrti.pdf) on page 12 and Para 9, following is stated: Providing Reasons for Decisions: The public authorities take various administrative and quasi-judicial decisions which affect the interests of certain persons. It is mandatory for the concerned public authority to provide reasons for such decisions to the affected persons. It may be done by using appropriate mode of communication .Attention is also invited towards the thread 'affected person ' under rti act.In fact, it can be said that "Affected" refers back to an action. The"Affected Persons" are the ones who are affected by that action. The reasons need to be given to affected person and copy of that can be given to me under 2 f of RTI Act. The JRCS is THE PUBLIC AUTHORITY is under obligation to provide information "PUBLICLY” under section 4(I) (a) (b) (c) (d) RTI Act.