To,
Advocates /Borrowers /Defendants /Guarantors.

GET BENEFIT by scrutiny Bank’s loan A/c. As per Norms of Court’s Order / Observations. R.B.I. directives, contract. Defy Overcharged Interest, ILLEGAL Debits-guarantee fee, interest not to be compound if not provide in sanction letter or documents. Not to compound penal int., Agriculture loans & S.S.I. Term Loan.

CASE LAW

1. 2009 AIR SCW 5886 RESERVE BANK OF INDIA CIRCULARS AND GUIDELINES AS REGARDS TO ONE TIME SETTLEMENT ARE BINDING ON BANKS.

2. Hon’ble High Court (DB) Bombay W.P.No.7320 of 2010.

“TAKE INTO ACCOUNT THE MASTER GUIDELINES PUBLISHED BY THE RESERVE BANK OF INDIA” Sumati Packaging V/s. The Bhusawal Peoples
Co-operative Bank Ltd.

3. It is the case of the petitioner Bank charged exorbitant Interest Order The Div. Joint Register shall appoint Chartered Accountant after receiving the report pass appropriate order”. (Bom.H.C.Decided 7th September 07. Mr. Shrinivas B. Goyal v The Div. Jt. Reg.).

4. “Book of A/c. Probative value behind whose back and without whose knowledge the entry made cannot fix liability upon person in absence independent evidence to fasten him with such liability”. (Supreme Court in CBI v V. C. Shukla. 1998 CRI L.J.1905 (SC)).

5. “There was miscalculation / wrong calculation of amount in statement of accounts field by Bank Determination of amount to be recovered is required to be re-analyzed asking for fresh statement of accounts from both parties”. (2007 (2) Bankers’ Journal 355). Para 6 & 7.

6. “If any bogus or fraudulent entries in accounts found, those will be considered at time of final hearing”. (DRAT 2007 (1) BJ 580)

7. “The accounts of the bank will have to scrutinized not only to ascertain the sum, if any, due to bank but also to ascertain as when and what manner the case credit facility was permitted to be avail of by company of course, evidence will have to be taken on whether there was any violation of conditions of laches on the part of the bank in fulfilling its obligation causing to company – if decree is granted to the bank on basis of its accounts, and damages, if any, is decreed in favor of the company, a set-off could be directed and ultimate order or decree passed in favor of bank or company”. (2007 (1) D.R.T.C. 164-SC) Para 12=line 6.