DRT Legal Solutions
(Debts Recovery Tribunal Legal Solutions) is an India based
Law Firm specializing in DRT, Securitisation, NCLT, Borrowers and Guarantors Solutions in Debts Recovery Tribunals,
Pioneers in Counter-claims and Damage Suits based on Law of Torts and Law of Damages
Phones (India) - Mobile - +91-9691103689, Off. & Res.- +91-731-4049358 and +91-731-3290201
Home│Contents│Products & Services│Frequently Asked Questions│Useful Article-Borrowers│Useful Article-Guarantors│RBI Guidelines│Notes-Law of Torts│Notes-Damages│MiniArticles-Letters to Editor│Useful Interactions with Clients & Visitors│Securitisation Act-Comments│About Us-DRT Solutions│Useful Tips for DRT Advocates|| 138 NI Act Cheque Dishonour Cognizance Acquittal | NCLT, National Company Law Tribunal, BIFR, SICA | Video Interview - BS Malik, Sr. Supreme Court Advocate│Legal Forum of India│Success & Results of Our Guidance│DRT Orders in favour of Borrowers & Guarantors│NPA, Debt due, Rehabilitation of Sick SME Industries│Our Replies to Queries on Current DRT Matters, Court Decisions etc.│Measure of damages & Calculations under Torts & Contracts│Video Interview - GC Garg, Ex-Senior Bank Official│Solar Healing, Yoga, Projector, Rebirth etc.│Swami Ramdev, Yoga Guru, Cure for All Diseases, Medical Science Revolution│Court Technologies IT Presentation Video Arguments│Archive│DRT Solutions Weekly Mail for Borrowers & Guarantors │ All India DRT Conference 2011 at Indore│Article by Ram Kishan on Management & Technology in Indian Judiciary│SARFAESI Securitisation Securitization Actar SA NPA│DRT Judgments Favourable / Useful to Borrowers │ DRT Solutions - Site Map for Borrowers & Guarantors│Transform India with Modi-DRT Solutions Suggestions│Laughter Yoga by Ram Kishan, Indore
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Sunday 5th July 2015 (last updated) Monthly Release 240
Highlights:- All problems of Debts Recovery i.e. DRT, Securitisation Act, ARCIL i.e. Asset Reconstruction Company (India) Limited, NCLT i.e. National Company Law Tribunal and other courts are tackled by us and practical solutions provided. Study of this web site will be very useful to the borrowers and guarantors facing litigation in DRTs. People from all over the country and abroad are phoning us, then visiting us and getting solutions to their DRT, Securitisation and related legal problems. Many parties are approaching us either to draft or to redraft their counterclaims, loss and damages in DRTs under DRT Act or Securitisation Act. Some need our advice on all types of DRT matters, Securitisation Act, BIFR, NCLT, sec. 138 of NI Act relating to dishonour of cheques, NPA Consultancy, IPR matters etc. We have DRT , BIFR, NCLT, NPA Consultants and Banking Accounts experts to examine the legal and accounts as well as documents filed by the banks and financial institutions in DRT and other court cases. Please visit other pages of this site dealing with all these aspects and solutions relating to DRT i.e. Debts Recovery Tribunal litigations, NCLT i.e. National Company Law Tribunal, NPA Consultancy, ADRT i.e. Appellate Debts Recovery Tribunal, BIFR, NCLT, related legal matters including Counter-claims, loss and damages as well as legal process outsourcing, knowledge process outsourcing for global clients through our associates vide joint venture web site www.usindolegal.com You are always welcome to approach us anytime for all DRT Problems and Solutions. We advise advocates on use of latest video and presentation technology in office as well as in court rooms
Laughter Yoga by Ram Kishan, Indore http://www.laughteryoga.org/english/blog/blog_detail/833
Legal Forum of India
We are pleased to inform that 'Legal Forum of India' has been functioning past 4 years vide details at page Legal Forum of India The same is now going to be formally registered. The details may be seen at the said web page i.e. Legal Forum of India Persons interested in the said forum may e-mail their suggestions and or consent.
Lack of Management & Technology in Indian Judicial System – Greatest Cause of Huge Pendency & Utterly Low Efficiency - An article by Ram Kishan vide link Article by Ram Kishan on Management & Technology in Indian Judiciary
DVDs of the 2nd All India DRT Conference held on 8th and 9th Jan ’11 are available – these DVDs contain goldmine of useful information to borrowers, guarantors and their advocates
We are pleased to inform that 5 DVDs and 1 CD of the said Conference are available at a token price of Rs. 1000=00. This amount is peanut compared to that spent by the participants who came from far off places like Cochin, Kolkata, Chandigarh, Chennai etc at their own expenses, stayed at Indore and paid the participation fee of Rs. 4500=00 per head.
These 5 DVDs are complete video record of the whole conference and are gold mine of the current information on:-
(a) Securitisation Act, important questions and answers, practical aspects of stay and trial in DRTs,
(b) Important court judgments and their applications,
(c) Court procedures and critical applications,
(d) Bank documents and their inspection,
(e) Legal maxims and their applications,
(f) Important provisions of Constitution and PILs,
(g) Present state of Indian Judiciary, problems and solutions,
(h) Application of modern management and technology etc.
We have provided in one CD complete audio record of the whole conference so that one can listen the same on i-pod. As a whole these DVDs and the CD provide the most latest and useful knowledge to the borrowers and guarantors as well as their advocates. The procedure for getting these DVDs is as under:-
(1) You may deposit Rs. 1000=00
(2) Pl inform the particulars of the above deposit to us by e-mail and by SMS to our mobile no 09691103689
(3) Pl inform your postal address and telephone number by e-mail
(4) The DVDs will be dispatched within a fortnight
Indore – 6-10-10 4 PM Sub:- News Release to Print and Electronic Media on filing of PIL in SC on 5-10-10 Mr. Satya Pal Anand, a well known authority on PIL and two more Senior Citizens of Indore have filed on 5-10-10 in Supreme Court a PIL on corrupt judges about whom Mr. Shanti Bhusan ex-Law Minister has already filed an affidavit in Supreme Court. Copy of the PIL may be obtained on e-mail from email@example.com This news was provided to the media on 6-10-10 at 4 PM by Mr. Satya Pal Anand & Mr. Ram Kishan, two of the Petitioners. The Registry pointed out certain defects through e-mail. The same were cured and documents refiled on 16.11.10. Further remaining defects were removed on 08.12.10. E-mail reminders sent to the Registrar (PIL) to list the case as early as possible. The Registrar has passed an order for which an appeal is to be filed.
(9) The party has sent following mail to us:-
From national flask ind. ltd.
Date Wed, Jun 30, 2010 at 6:01 PM
Kind Attn: Mr.Ramkishanji
We take this opportunity to thank you very much for your timely guidance / suggestions during the proceedings of Securitisation Application in DRT. Because of your guidance, we have succeeded in DRT. The DRT has allowed our Securitisation Application and directed the consortium bankers to repossession of the properties. You have given your best guidance for,
1. application for inspection of documents to bring facts on record,
2. affidavits / rejoinder to put facts on records
'Video Arguments' demonstrated before All India CAs Conference on 22.02.09 at Indore We are pleased to inform that Mr. Ram Kishan delivered a talk on 22nd Feb. '09 in Dhirubhai Ambani Auditorium during the 'All India Conference of CAs' at Indore on the topic of 'Video Arguments in Judicial Proceedings' The talk was based on PowerPoint presentation and was video recorded. It was very much appreciated by the large gathering of CAs. The DVD containing the said video of the talk will be available shortly. The background paper of the talk was already published on this web site and may be seen by clicking here Court Technologies IT Presentation Video Arguments. The said paper was also published in the souvenir specifically brought out on this occasion.
Chief Justice of India informed about the ‘Video Arguments’ as well as Chief Justice of MP High Court:-
The 'Legal Forum of India' has informed these authorities about the 'Video Arguments' developed by us for the first time in India vide DRT Solutions Weekly Mail for Borrowers & Guarantors
‘Video Arguments’ - Demonstration and complete details:-
(a) For demonstration in Mumbai, contact Mr. Haresh Gandhi M - 09322641912
(b) 'Video Arguments' developed for the first time in India by us has been greatly appreciated by Borrowers, Advocates and Judges. For further details, please click here Court Technologies IT Presentation Video Arguments
First assignment of ‘Video Arguments’ completed:- We are pleased to announce that we have completed the first assignment of ‘Video Arguments’ for a Mumbai based client in respect of ‘Closure of Defence’ This is again first time in India. Before dispatching the CD on 19.09.08, we have shown the same to retired Judges and Senior Advocates. They all appreciated and commented that it will be specifically demanded by the Advocates and Judges as it offers great facility to them. We have been working on this development past two years and the final product has been greatly improved. We have applied for the patent and at proper time we shall demonstrate the same before the Chief Justice, Supreme Court of India. Latest Demo CD will be released separately.
Important News - DVD and Text of Talk by Ram Kishan on "Court Craft" during Indore Conference :- The DVD No D-013 contains 3 hours of talk by Mr. Ram Kishan during DRT Conference on 4th May '08. The text of the talk may be seen by clicking the link DRT Conference - Text of Talk by Ram Kishan on Court Craft 7
Important News - Weekly News Mail from DRT Solutions :- There has been tremendous response to our Conference of May 2008 at Indore. The participants desired that we should continue the daily mails which they were getting for two months prior to the conference. We decided to reduce the frequency from daily to weekly on every Friday. Hence the said weekly news mails commenced from 17.05.08 and all the weekly mails are available at the special page DRT Solutions Weekly Mail for Borrowers & Guarantors These mails are proving to be quite useful to the Borrowers and Guarantors and their Advocates in DRTs. The subscription to these weekly mails is free. The needy litigants and their advocates who wish to obtain these mails may mail their name, contact phone nos,, postal address and reasons for subscribing to these mails.
Important News - DVDs and Audio CD of the Indore Conference - Goldmine of Information for Borrowers and Guarantors and their Advocates in DRTs :- The complete video and audio recording of the entire DRT Conference at Indore is available in form of a set DVDs which are gold mine of information for the defence of Borrowers and Guarantors and their Advocates in DRTs.
Thrilling Success Story of Our Guidance:- A case from DRT Madurai shows as to how a bank fights against its borrower by presenting wrong facts and is out to misuse the provisions of Securitisation Act but the power of law is Supreme. The thrilling story in the words of the people on the spot vide mail dated 09.04.08 copy may be read by clicking Success & Results of Our Guidance
Important News about the All India Conference held at Indore on 8th and 9th Jan 2011 under the auspices of 'Legal Forum of India' :- There was a tremendous response to the proposed conference. Participants came all way long from Mumbai, Kolkata, Chennai, Bangalore, Salem, Belgaum, Jalgaon, Vardha, Chandigarh, and Indore. A group of 35 businessmen, industrialists, advocates, CAs, borrowers and guarantors attended the two days sessions commencing from 4 PM of 8th Jan 2011 Saturday and full day session 9 AM to 6 PM on 9th Jan 2011 Sunday. The details may be seen at the separate page covering the said conference. Please visit this page, inform to your friends so that maximum number of needy and or interested persons may be benefited by the DVDs of the conference.
Banker's blackmail: Pay up, or you get blacklisted with Cibil:- DNA Mumbai in its headline story on 3rd April '08 informed as to how some of the bankers are misusing the power and committing wrong doings in false reporting of credit ratings of individuals and companies. Such reporting is illegal if there is any dispute raised by the borrower. The remedy for the borrower is to approach the Bank's Ombudsman or file an Injunction and Declaratory Suit or file FIR with police as well as damages against the bank depending on seriousness of such wrong doing by the bank or financial institution.
Web Sites of the Banks contain lot of useful facts for defence of Borrowers and Guarantors:- On study of web sites of the banks, it is found that the same contain lot of useful facts for the defence of borrowers and guarantors. The DRT defendants must study the web sites of the concerning banks and financial institutions and inform us the important facts which are useful to them. We shall incorporate the same in the pleadings. On our own, we shall also study these aspects and include in the pleadings.
All India Conference at Indore on 3rd and 4th May '08 under the auspices of 'Legal Forum of India' :- There was a tremendous response to the said conference. A group of 48 participants came from Bangalore, Mumbai, Madurai, Chandigarh, Hyderabad and Indore. Mr. BS Malik, Advocate on Record, Supreme Court of India was present during the complete conference. A separate page coveing the details about the said conference can be reached by clicking All India Conference at Indore Please visit this page, inform to your friends so that maximum number of interested persons may be benefited by the deliberations of the said conference.
Video Conferencing with clients - An Important Announcement :- Many of our clients desire to interact with us along with their directors/partners as well as their advocates/legal counsels etc. Visiting Indore for their complete team is not only expensive but becomes impossible. Hence We can hold real time interaction with the said clients and their teams by using VC (in short for 'Video Conferencing')
Bank officials were to be arrested, bail refused by sessions as well as High Court, Supreme Court in its order dated 07.12.07 asks them to report to Police Investigating Officer on 09.12.07 & interrogation to be carried out continuously for 5 days and as and when necessary thereafter :- Seven Bank Officials of a Cooperative Bank in Mumbai were to be arrested for investigation in the matter of SARFAESI Act proceedings pertaining to Wings Entertainment Ltd., one of our clients in Mumbai. The anticipatory bail application of the said bank officials was rejected by Sessions Judge on 21.11.07. The High Court Mumbai in its order of 26.11.07 confirmed the said order of the court below vide proceedings in the matter of Jayant A. Joshi & others vs State of Maharashtra, Criminal Application no 3825 of 2007. The said officials have appealed to Supreme Court. In the hearing held on 7th December '07, the Supreme Court has asked the said officials to report to the police on 09.12.07 and interrogation is to be carried on continuously for 5 days and as and when needed thereafter. The investigation report is to be submitted to the Supreme Court on 07.01.08 for the hearing to be held on 08.01.08.
Important Announcement - Video Arguments presented in Indian Court for the First Time :- We are pleased to announce that on 10th October 2007, proposed 'Computer Presentation' was held for the first time in the country by Mr. Ram Kishan before Hon'ble District Judge, Indore and the 'Video Arguments' were submitted and shown to the said Judge on 15.10.07. Thus a history has been made in the Judicial Management in our country. The said District Judge, Indore in his order dated 27.10.07 pertaining to MJC No 152/07 paid eloquent tribute to us for development of such system. We have prepared two DVDs, one showing the method and system for such presentation, its advantages with a practical application. Another DVD showing the actual presentation before the District Judge, Indore on 10th October 2007. we have prepared an article titled 'Computer Presentation & Video Arguments' vide click here Court Technologies IT Presentation Video Arguments Many retired Judges and Senior Advocates have appreciated this development and have desired earliest possible introduction in Indian Court Rooms. Our Clients viz Mr. Rajendra Seth, Mumbai, Mr. Shishir Jhunjhunwala, Nagpur, Mr. Sundararajan, Madurai and others viz. Mr. Narasimhan, Adv., Chennai have sent e-mails to us congratulating this epoch making development. We are thankful to them for their kind gesture.
Accounts filed by Banks/FIs in DRT must be as per law rules DRAT Mumbai:- In an important ruling in respect of our client vide Shri Radhakrishna Steel and Alloys, Appellant vs Bank of Maharashtra, Respondent, the DRAT in its order dated 28.9.07 (OA No 96/2006 of DRT Nagpur) have asked the bank to submit accounts as per law laid down by the Supreme Court in the matter of Central Bank vs Ravindra and have permitted the borrower litigant to file their WS after submission of the correct accounts. We have observed that almost in all the cases, the accounts filed by the Banks/FIs are not in accordance with law and hence such application be moved in DRT so that first correct accounts as per law are submitted before filing of WS and or Counter-claim.
Our Client settles at less than 5% of dues due to impact of counter-claim against Bank:- This is just for your information that one of our clients have settled with the bank for amount less than 5% of the total dues (nearly Rs. 17 crores) vide State Bank of Mysore vs. Akasha Textiles, OA No - 3163/2000 in DRT-II Mumbai. Such settlement could be possible because of the impact of counter-claim as may be seen from the client’s mail extract may be seen by clicking Success & Results of Counter-claims When the State Bank of India Mysore can settle for less than 5%, other banks can also do. Hence if there are wrong doings by the Banks, the borrowers must file the damages and if there is any move for settlement, it must be kept in view that the settlement should not be more than 5% otherwise it is better to contest the damage suit or counter-claim.
Important Victory of Our Client against Bank:- One of our important clients at Chandigarh who filed damage suit of Rs. 1825 crores against a public sector Bank on 13.01.05 registered an important victory on 03.03.07 when the Court waived the entire court fee of nearly Rs 180 crores despite all opposition by the defendant Bank. The alleged dues of the Bank are Rs. 30 crores. Since the damages are much more than the alleged claim of the bank, no recovery action can be executed till the said damage suit is finally decided. The usual delay in the litigation does not affect our client as the damages are increasing day by day due to interest charges at rate which is much higher than the increase in the alleged claim of the bank. The said damage suit was drafted by us and all necessary advice and guidance was provided on all dates of proceedings.
Case of Fabrikant (MFS), Fabrikant-Leer (FLI), Counter-claim or Damage Suit against lending Banks:- The said USA Corporation being one of the world's largest manufacturers and distributors of diamonds as well as an industry leader in diamond and gemstone jewelry including Gold Jewelry has intended to be restructured under USA Bankruptcy rules. As a result, several Indian as well as foreign suppliers world wide have become innocent victims being mostly unsecured creditors. We have observed that in some cases, the lending banks have committed numerous wrong doings with such suppliers. Under these facts and circumstances, the only remedy is filing counter-claims in DRTs or Damage Suits in civil courts. The possibility of redressal from the said Bankruptcy proceedings or winding up proceedings particularly for the said unsecured suppliers is extremely remote. As stated above, if there is any move for settlement, the same should not be more than 5%.
Technology in Court Rooms - Video Briefs and Video Arguments:- Application of current presentation technology can tremendously improve the quality of legal process in the court rooms including DRTs. Presentation in Microsoft PowerPoint will help the Advocates in preparing their arguments in advance. They can carry their notebook computers in the court rooms and present their arguments in better manner. Their entire arguments can be videotaped and submitted to the court in form of a CD as document. This 'Video Arguments' will be akin to 'Written Arguments'. This will help the judges to view and replay if necessary before writing the judgments. He can pause, play, replay forward, backward and thus recall of the arguments will be accurate and full which is essentially required in modern complex industrial and business litigations. The judges need not make any notes and the entire argument will be available to them at any time and due to replay facility, the judgment writing will be much easier and accurate too. Such CDs will also be helpful in appeals. With such use of the current video and presentation technology, the quality of adjudication will improve a lot. We have developed the entire technology and the same has been demonstrated to the retired judges and eminent advocates. They all have appreciated the same. This is just for information that the prisoners are being examined using the technique of video conferencing. The questions in Lok Sabha and Rajya Sabha may be asked by way of Electronic Presentation. In USA Supreme Court, all the arguments are video recorded and are available on internet date wise. We have been flooded with queries on this subject. The above is permissible under Sec 4 of the IT Act 2000.
We intend to prepare such presentation particularly for our clients. Those who are interested further, they may visit ' Court Tech Forum ' on internet. Many court rooms including District Courts in USA and UK are well equipped with computers, projectors and cameras and the Advocate need to carry only his CD for presentation. There are many private agencies who prepare such presentations for the advocates. We can provide such services in India. For further details on this topic please click our sspecial web page at Court Technologies IT Presentation Video Arguments
On 9th July '07, 15,000 Judges in India have received Laptops and they have been provided with 3 months training. We have demonstrated the method and system before the District Judge, Indore on 10th Oct. '07 for the first time in the country. In his order dated 27.10.07, the said District Judge, Indore has appreciated our development. We are at the doorstep to a revolution in Judicial Management and the transition is akin to bullock cart to automobile.
DVDs containing Video Record of Advocates' Conference and Interactive Session at Chennai:- All the proceedings were video recorded and the two DVDs containing the same were dispatched to the participants and our clients. Any one else desiring to have the DVDs may send through e-mail their postal address, name of the company, Details of the pending DRT case or Securitisation case and the amount involved, name of concerned person and his contact details including phone nos etc. to us.
As already announced on this page, Mr. Ram Kishan was in Chennai from 21st July 2007, Saturday AN to 22nd July Sunday '07 for the said conference. The Advocates from South India i.e. Chennai, Madurai, Hyderabad, Vishakhapatnam, Tirupati and an International consultant from Mumbai participated in the Conference and Interactive Sessions with him on the matters relating to DRT, Securitisation Act, Counter-claim etc. The sessions were held for nearly 2 hours on 21st July and for 4 hours on 22nd July '07. During these sessions, Mr. Ram Kishan using a PowerPoint Presentation dealt with all the aspects of Bank Litigations and Borrowers Defence. The participants were highly impressed and benefited from the knowledge thus gained.
Purchase of NPAs by ARCIL and Counter-claims against the sellers:- The asset reconstruction companies like ARCIL are buying NPAs from the financial institutions and banks on average price of 24% and then they will sell at higher price. On the other hand the ARCIL will contest cases in DRTs for 100% claims with future interest. Such intended recoveries and earnings are much more exorbitant than the Pathans and Village money lenders. Hence it is all the more necessary to file counter-claims against ARCIL for the wrong doings of the lenders who should also be made parties. We have full expertize to prepare such counter-claims.
Counter-claim is the only defence for the borrowers against Notice under Securitisation Act and or Original Application under the DRT Act:- Under the present provisions of law, the only legal defence for the borrowers is Counter-claim giving quantum of loss and damages suffered due to wrong doings of the lenders. The pleadings must be prepared by a person having mastery of facts and mastery of law. The documents such as project report, application for financial assistance, loan sanction letters, correspondence, balance sheets, annual reports need to be referred to properly keeping in view the law of pleadings, law of torts, law of damages, principles of natural justice, bank nationalization act, constitution of India, Administrative Law, various Supreme Court Judgments, equity and good conscience. If you are unable to get such pleadings prepared, our professional services may be utilized. With our drafting of pleadings, you get additional advantage of expert advice during course of litigation from beginning to end. Since our clients are from all parts of the country and due to our focused attention, you get up to date, complete and exhaustive guidance. All our clients are having upper hand over the lenders. In many cases the lenders have come forward to waive total interest and settle at fraction of the principal amount. In one of the cases the proposal of the lender is to waive the total claim provided the borrower withdraws the damage claim, which the borrower has declined.
Counter-claim must be prepared much in advance of the Notice under Securitisation Act or filing of the Original Application under the DRT Act:- The counter-claim or damage suit must be prepared much in advance of the recovery action initiated by the lender. The most appropriate stage is as soon as the lender declares the unit as NPA. The said counter-claim or damage suit must be ready before the lender issued Notice under Securitisation Act or files Original Application is filed by the lender in DRT. With such advance action only, the counter-claim or the damage suit will attain proper quality standards from legal considerations. As soon as the legal Notice from the lender under Securitisation or DRT Act is received the said counter-claim or damage suit is updated, mentioned in the objections and after the action u/s 13(4) included in the appeal u/s 17 of the Securitisation Act. Since prima facie there is no debt due, the lender can not take any action for the possession of the assets till the litigation pertaining to the said counter-claim or damage suit is decided by the court of law.
Winning bank litigations in DRT:- The first step is perfect pleadings drafted by a person having mastery of facts and mastery of law. The borrower must setup his counter-claim in money value based on law of damages, law of torts and banking laws, DRT Act, law of evidence, civil procedure code, principles of natural justice, constitution of India etc. In almost all the cases, the counter-claim is much more than the claim of the lender. These are the condition precedents before commencement of litigation in DRT. The next important step is thorough preparation of the case by the borrower as well as his advocate much in advance of the commencement of the trial in DRT. The borrower and his advocate must prepare at least 7 days before the date. In case the counter-claim has been drafted by us, the outcome of the said preparation must be discussed with us on phone so that our guidance is also available prior to the date. The proceedings on the date must be properly recorded in the DRT. All the relevant facts must be obtained much before the arguments and through preparation must be made. No arguments be held at any stage till all the facts are discovered. Long dates should be resisted. With proper alertness and vigilance by the borrower who must work in unison with his advocate in advance will ensure winning bank litigations in DRTs. It must be understood that the battle is long drawn, time consuming and expensive. Even after winning in DRT, the borrower and his advocate will have to work hard in facing the appeals in ADRT, High Courts and Supreme Court. If the pleadings are drafted by us, we provide all guidance from DRT to Supreme Court.
Ram Kishan delivered a talk in All India Conference of Chartered Accountants:- Mr. Ram Kishan delivered a talk on 'NPA Recovery by Banks - Defence of Borrowers' in All India Conference of Chartered Accountants on 25.02.07 at auditorium of Devi Ahilya University at University Campus, Khandwa Road, Indore. The said talk was organized by the Fiscal Laws & Corporate & Allied Laws Committee of the Institute of Chartered Accountants of India hosted by Indore Branch of ICAI. The emphasis in this talk was on the practical aspects and real life solutions for the defence of borrowers. The audience was thrilled and astonished as such points of defence were not known to them. They desire to have series of talks on this topic. A VCD containing video clips of 'How to win Bank Litigations' by Ram Kishan and extracts from video interviews of Mr. BS Malik, Sr. Supreme Court Advocate, Mr. GC Garg, Eminent Banker and Mr. Balasubramanian, also an Eminent Banker was provided to genuinely interested persons. A CD containing the presentation will be provided to the persons who desire to listen to the said talk.
Justice Katju states that the public can criticize the Judges on the basis of Master and Servant relationship:- Justice Katju of Supreme Court of India in his Article dated 06.03.07 vide link below, published in Dainik Bhaskar has stated that the public is supreme and the relation between the public and the beauracracy is just like master and servant. The Judges are also part of the said bueauracracy and hence the public can criticize their conduct without interfering with their work and duties. Justice Katju on Contempt - Source of Legal Power in India
Our latest Article on 'NPAs, Recovery and Important Legal Aspects' :- This Article contains useful information for the defence of the Borrowers particularly in the context of the latest Supreme Court Judgment. The said article can be approached by clicking the link NPA, Debt due, Rehabilitation of Sick SME Industries This article is virtually summary of this entire web site and will be very useful to the borrowers and guarantors facing litigation in DRTs.
The above Supreme Court Judgment and our Comments:-
(1) In almost all the cases, the facts are same in both the proceedings viz DRT and Securitisation. (2) Hence the defence is also same in both the proceedings. The counter-claim or damage suit will also be same. (3) The litigant borrowers and guarantors should prepare exhaustive pleadings giving full facts, law and damages based on law of torts and law of damages. The person who is preparing the pleadings must have mastery over banking, finance and law. Since we possess this expertise, our help may be taken. (4) In almost all the cases, we have found that the loss and damages are more than the claim of the lenders, the cases must be fought properly. (5) It is observed that the lenders are unable to tender proper replies and hence they must be called to witness box and cross examination conducted till the admit the wrong doings. (6) With such approach only, one can win in DRT.
Our approach of counter-claim or damage suit against the lenders fully endorsed by authorities:- Two leading authorities in law and banking both having more than 40 years of experience in law and banking have fully endorsed our approach to counter-claim in DRTs or damage suit against the lenders in civil courts. You may click the pages Video Interview - BS Malik, Sr. Supreme Court Advocate and Video Interview - GC Garg, Ex-Senior Bank Official which give the contents of the video clips of interview with them. You may take out the print and study the same. Listening to the video interview will be further useful. You may select the clips for replay for discussions with your colleagues as well as the advocates. You may obtain the VCDs from us to listen to their views which will be quite useful to all the borrowers and guarantors as well as to their advocates. The counter-claim or damage suit against the lenders are the only legal defence and we specialize in framing such defence. We have handled several such cases throughout the country. You may contact us on phone to know further details.
PIL to be filed against DRTs:- One of our Clients desires to file a PIL against the DRTs. He has observed that (1) The bank officials and their advocates are meeting and discussing the cases with the PO in his chamber. (2) The Ministry of Finance is calling meeting of all the POs (3) The salary and wages of the DRTs are being met with from Ministry of Finance. These factors are against the equity as the banks and FIs are one of the parties before DRTs. Will you please send the proof of all these matters personal affidavits, publication in news papers etc. to us at 205, Morya Palace, 5/1, Diamond Colony, New Palasia, Indore-452001
Our this web site is dedicated to Yoga Rishi Swami Ramdev Ji Maharaj:- Our this web site is respectfully dedicated to Yoga Rishi Baba Ramdev Ji Maharaj whose method of Pranayam has cured even incurable diseases and thus has revolutionized modern medical science. For further details please visit our special page by clicking here Baba Ramdev Ji Maharaj, Yoga Guru, Cure for All Diseases, Medical Science Revolution
Video Interview of Mr. GC Garg, Ex-Senior Bank Official and Ex-Chairman, Non-banking Finance Company:- Mr. GC Garg, having experience of 40 years in Bank and Finance Company in India and abroad, assigned us drafting of DRT counter-claim for the DRT case of his son. We prepared the counter-claim involving loss and damages worth Rs. 1158 crores against a public sector bank. On 18.06.06, Mr. GC Garg visited us at Indore and appreciated our deep knowledge of banking and relevant laws including Law of Torts and Law of Damages. He expressed his views in a video interview with us. We have prepared a Video CD containing 10 video clips on subjects like Comments on Pleadings of the said counter-claim, winning strategy in DRT, violations of RBI Guidelines, DRT advocates and judges, ARCILs, wrong doings committed by bank officials, their cross-examination including that of the Chairman and Branch Manager of the bank, etc. His views expressed during the said Interview will be highly useful to the litigant borrowers, guarantors, industrialists, bankers etc. The details of the content of the said video CD is available on a separated web page on this site and may be visited by clicking here Video Interview - GC Garg, Ex-Senior Bank Official The said VCD may be obtained from us after ascertaining the details through e-mail.
Supreme Court verdict in the case of Indian Bank vs ABS Marine:- The Supreme Court of India has upheld the right of the borrowers to file countersuit or damage suit against the lender in civil court or DRT. In almost all the cases, the damage claim of the borrower is much bigger than the lender, the execution of the claim of the lender will have to wait till the said suit in civil court or DRT is fully decided. The said counter-claim can also be adjudicated upon in DRT. if on account of any reason, if it is transferred from DRT to Civil Court or vice-versa, the position in respect of the execution of the lender's claim will remain the same. We have been upholding these views since 2001 as laid down in this web site since then as well as in our articles and letters to editor published in the Financial Express since 2001. As a whole, the principles of equity, justice and good conscience continue to remain applicable in any court whether it is DRT or Civil Court. Since at present the judicial process is expensive and long drawn, such cases can only be fought by the borrowers who can mobilize financial resources to fight court battle and due to such litigants only leading judgments will come, which will be useful to other suffering borrowers and guarantors.
Justice is Supreme. Procedures, Provisions of Law and Machinery of Law have to aim at getting Justice :- In a democratic society like ours which is ruled by Law, the Supreme Court of India has held that Justice is Supreme. Even the law bends before Justice. The procedures are handmaid of Justice. The natural corollary is that the complete court machinery like Civil Courts, DRTs, High Courts and Supreme Court including their Judges exit and have to work only achieving Justice in each and every case in most efficient manner. The established judicial process is quite strong provided it is implemented properly. First stage is the pleadings which should be drawn by the person having mastery of facts and mastery of law. In the specific legal defence of the borrowers and guarantors in DRTs, the pleadings must contain the counter-claim. Then the erring bank authorities including Chairman of the bank should be cross examined in the witness box again by a competent person having mastery of facts and mastery of law. If such process is followed, in almost all the cases the banks will lose and instead of recovery of their claims, they will have to pay the damages.
Proof by Affidavit in DRT is not sufficient in most of the cases where it calls for examination of Bank Officials :- In almost all the cases of our clients, we have observed that the affidavits filed by the bank officials do not offer complete proof. Hence the said bank officials including the Chairman and the Branch Managers need to be examined and cross-examined in the witness box. The defendants must be vigilant and careful to ask for the same. The cross examination of the bank officials must be carried out by a person having mastery of facts and mastery of law. The entire cross examination of the bank officials must be video taped and submitted as document in form of the CD. Then only the defendants can be sure to win their cases including the counter-claims. We offer our professional services in conducting such cross-examination.
Affidavit on behalf of the Bank must be signed by the Chairman:- The Branch Manager and other officials of the Bank may submit affidavit on their behalf but the affidavit on behalf of the Bank must be signed by the Chairman of the Bank.
Good News for the Borrowers and Guarantors:- On account of the counter-claims and better preparations of the Borrowers and Guarantors, the bankers are more inclined for settlements at very low offers. Please find out the lowest offers and then settle carefully with consent decrees. Wherever settlement is not possible, there is no other options but to follow our approach elaborated in this web site.
NPA, Debt due and Rehabilitation of Sick SME Industries:- At present there is gross mistake in calculation of NPA and Debt due and accordingly the Rehabilitation Plans of the potentially viable sick industries are also wrong. Our suggestions and the only correct solution for rehabilitation of sick SME Industries is contained in a article which can be seen by click here at NPA, Debt due, Rehabilitation of Sick SME Industries We have NPA Consultants to offer NPA Consultancy.
Affidavits for our clients:- Few of our clients have started approaching us to prepare their affidavits as they find that their advocates are not having required spare time for such technical job. You may also approach us for this specialized service.
Cross Examination of Bank Officials:- Many of our clients find that their advocates are not having sufficient knowledge to cross examine the bank officials like Bank Managers and Chairmen of the banks and financial institutions and approached us for such highly specialized service. In fact we are uniquely suited for the same due to our focused and specialized knowledge and experience in this field.
Borrowers and Gurarantors can win in their bank litigations:- In most of the cases, we have found that if the counter-claim has been framed properly by a person having mastery of banking facts and mastery of banking laws and then the bank officials are properly cross-examined in the witness box so that they admit their wrong doings, the litigating borrowers and guarantors can win their cases. Most of our clients are moving in this direction. As a whole you may approach us for all DRT Problems and Solutions. Solution to any problem of debtrecovery in DRT is our specialization particularly for the defence of the borrowers and guarantors.
Counter-claim can be filed at any stage:- We have prepared counter-claim even during winding up of the companies, after the final order of the DRT or at any stage of the trials in DRTs or ADRTs. There is no hitch of limitation. In one of the cases, we have filed counter-claim after 21 years of filing of the WS. We need one and half to two months time for preparation of counter-claim. If there is no such time available, we devise legal methods to gain time. Goal of any litigation or legal procedure is attainment of Justice. We help the borrowers and guarantors to get Justice at any stage of litigation.
Importance and Essentiality of proper defence for borrowers and guarantors:- Whole case can be fought and won only when proper defence has been made right from the beginning. Such defence should be made by person having mastery of facts and mastery of law. Here facts refer to those applicable to the individual case with thorough understanding of banking, business and industrial finance and their violations as well estimate of loss and damages based on project report and balance sheets. The law refers to all the relevant laws applicable to banking and finance right from 1949 as well as law of torts and damages. We are acclaimed expert and specialized agency to prepare such defence with uptodate current knowledge due to handling of such matters from clients all over the country. A phone call will help you in solving all problems relating to DRT, ADRT, BIFR, NCLT, Securitisation Act etc. Solution to any problem of debtrecovery in DRT is our specialization particularly for the defence of the borrowers and guarantors.
Cross-examination of bank officials:- Evidence and cross-examination of bank officials including the Chairman and Branch Manger is highly essential. The sole aim is to get admissions of the wrong doings. Once the wrong doings have been admitted in the witness box by the bank officials, the borrower/guarantor has won the case as there is no arguments on admissions even upto the stage of Supreme Court. Such cross-examination of bank officials is highly technical and it requires mastery of facts and mastery of law. We have requisite expertise in this arena. The parties desiring us to conduct the cross-examination, may contact us on phone for necessary further action.
Supreme Court Judgments:- Many of our clients and visitors of this site approach us for Supreme Court and High Court Judgments. We would like to inform them that judgments are available only on those matters and facts which have been adjudicated upon. Many of the issues relating to industrial and business finance have not yet been brought before the judiciary and hence no judgments will be available on the same. The counter-claims based on the law of torts drafted by us are being put before the judiciary for the first time. These matters and facts need to be processed during proper judicial process by way of proper pleadings, cross examination and arguments. The judgments thus obtained will go through the process of appeal by the affected party and thus all such cases will take few years to come before the Supreme Court and then only the final judgments of the Supreme Court will come. Till then we have to work on the basis of the fundamental of the law. We are following this approach in tackling all DRT problems and Solutions whether in DRT, ADRT, High Courts, BIFR, NCLT in future and Supreme Court.
Right to Information Act 2005 It is a an epoch making legislation for public including industrialists and business people to obtain informations from the government and its instrumentalities regarding the duties and responsibilities towards public and their customers. This act will prove to be a powerful tool in tackling DRT problems and finding solutions
Other Useful Information:- As a visitor, if you are not concerned with the main topic of this web site, you may visit Other Topics, Health, Jobs, Social, Projector, Web Publishing which you will find highly useful. We are going to enrich this particular page regularly.
Our Client wins against Bank, DRT Mumbai declares possession of factory illegal under Securitisation act:- in the matter of M/s Aarti Cables vs Bharat Co-operative Bank, the PO DRT Mumbai passed an important judgment on 16.09.05 against the bank declaring the possession of the factory under Securitisation Act as illegal.
New Pages added on this web site:- We have added three new pages to this web site viz Success & Results of Counter-claims│Our Attorney Associates & Well Wishers│Indian Legal Forum for Industrialists & Businessmen These pages contain useful information and solutions for the industrialists, businessmen and their associations as well as for the borowers and guarantors.
Important Tip to Old and New Visitors, Industrialists, Businessmen, Borrowers, Gurarantors, DRT Litigants:- A visit to new page Synopsis Video Interview - BS Malik, Sr. Supreme Court Advocate will be highly useful, wherein you may see and listen to Mr. Malik on the said page itself. You may take out the print and study the same. Listening to the entire video interview will be further useful. You may select the clips for replay for discussions with your colleagues as well as the advocates.
Video CD containing Interview of Mr. B.S. Malik, the Supreme Court Advocate, on Bank Litigations and Counter-claim - edited, split and indexed into 18 clips with synopsis for most user friendly applications :- This video interview (edited and split into 18 clips in the same CD) will be immensely useful to industrialists, borrowers, guarantors, chartered accountants, advocates, lawyers and bank litigants in DRTs. The details and the synopsis of the said 18 clips can be seen by clicking the page Synopsis Video Interview - BS Malik, Sr. Supreme Court Advocate These small clips can be noted and replayed before colleagues and lawyers. Mr. Malik, in simple language explains legal concepts behind industrial finance, bank litigations and counter-suit. This CD will enable the viewers to communicate with their advocates in a more meaningful manner.
Formation of 'Indian Legal Forum for Industrialists and Businessmen':- With our approach only the borrowers and guarantors can have winning fight with the wrongful lenders, but the process of such legal fight can be more efficient and quick if certain aspects can be brought under legislation. The same are pointed out in new page in this web site which can be visited by clicking here Indian Legal Forum for Industrialists & Businessmen Instead of litigating in each and every case, such common aspects can be legislated. This may take few years provided efforts are made now. Kindly discuss among industrialists and businessmen and mail your views.
Our Client files damage suit of Rs. 1825 Crores against a bank and a financial institution in Chandigarh:- Our Client, an eminent Supreme Court Advocate (practice more than 25 years in Supreme Court) has filed a damage suit of Rs. 1825 Crores in Chandigarh on 13.01.05 against a bank and a financial institution. The said damage suit was drafted by us and it runs in 118 pages having documents of 537 pages. In a video interview lasting more than 30 minutes on 23.01.05, the said Mr. Malik appreciated our legal concepts, our drafting and our knowledge and experience about application of law of torts to banking, industrial sickness, drt, counter-claim, securitisation act and calculations of damages. The same interview has now been divided into 18 clips mentioned above at the top of this page. The said client registered an important victory on 03.03.07 when the Court waived the entire court fee despite all opposition by the defendant Bank. The alleged dues of the Bank are Rs. 30 crores. Since the damages are much more than the alleged claim of the bank, no recovery action can be executed till the said damage suit is finally decided. The usual delay in the litigation does not affect our client as the damages are increasing day by day due to interest charges at rate which is much higher than the increase in the alleged claim of the bank. The said damage suit was drafted by us and all necessary advice and guidance was provided on all dates of proceedings.
Cross Examination of Chairmen of Banks or FIs is a must :- You get only one and last opportunity for trial in DRT. In RBI Guidelines, the Chairman of the banks and FIs have been held specifically responsible. You must make them a party, in pleadings mentioning that you would be cross examining them. Go to their offices and make video recording of the cross examination. Be very strict on this aspect as the legislation has made appeal nearly next to impossible to expect any relief.
Useful judgment of Madras High Court:- The Madras High Court vide the news item dated 10th December 2004 in the Hindu, in the matter of Central Bank of India vs TTG Industries Ltd. have ruled that the banks and financial institutions can not simultaneous resort to action in DRT as well as initiating action under Securitisation Act.
Securitisation Bill passed on 07.12.04 The Lok Sabh has passed the bill relating to the Ordinance mentioned below. Our comments as under will apply.
Ordinance dated 11.11.04 in respect of Securitisation Act:- The government has issued an Ordinance in respect of Securitisation Act. Some of the amendments proposed are against the spirit and letters of the verdict of the Supreme Court in the matter of Mardia Chemicals. The said proposed amendment will open new flood gates of litigations. Our comments may be seen by clicking here :- Securitisation Act-Comments
Formation of ARCs :- The litigant borrowers particularly those having disputes of large amount will have to face ARC or ARCs i.e. Asset Reconstruction Companies. Here again, the most important tool will be counter-claim which must be filed against the concerned ARC and also the lending banks and institutions holding them responsible individually and severally. All our guidance about the counter-claim in this web site also apply in this case also
Bombay High Court rules in Borrower's favour in respect of Notice under Securitisation Act- On 6th Sept. '04, the Bombay High Court ruled in favour of the Borrowers, canceling the impugned notices under the Securitisation Act. vide details and our comments by clicking here :- Securitisation Act-Comments The bank will have to return the properties taken in possession under the Securitisation Act.
DRT rules in Borrower's favour, asks Bank to pay Damages- Vide news item at page 8 of the ET dated 17.07.04 with the title as "It's a first, DRT rules in borrower's favour, asks bank to pay damages" This is the first time under the Securitisation Act that a bank has lost a case against a borrower in DRT. The bank has been asked by DRT Mumbai to return the secured property back with per day damages as well as cost of the appeal preoceedings in DRT. Please vide details and our comments by clicking here :- Securitisation Act-Comments
Important Questions and our Answers in respect of Securitisation Act- A leading Financial Association of the country has asked 6 important questions and desired to publish the answers in form of our interview. The said questions and answers can be seen by clicking here:- Securitisation Act-Comments The visitors and readers my interact by sending e-mails to us.
Cooperative Banks and not Societies are covered under Securitisation Act- The Central Govt. has already issued a notification on 28.01.03. The Bombay High Court also decided accordingly vide details by clicking here :- Securitisation Act-Comments
Securitisation Act - Govt may plug gaps, DRT Act may also be amended:- Vide news item at page 1 of the Economic Times dated 15.06.04. For our comments, please click here :- Securitisation Act-Comments The DRT litigants, borrowers, guarantors, industrial associations must be vigilant and alert over any unconstitutional and iniquitous amendments of the Securitisation and DRT Acts. The bureaucracy in banks and financial institutions is all out to have arbitrary powers which can only be thwarted by filing proper writs.
Progress of counterclaim of Rs. 1864.14 crores filed by one of our clients at Indore facing alleged recovery of Rs. 69.23 crores in DRT Jabalpur:- The DRT counterclaim was drafted by us and the case was filed in December 2002. The details may be seen by clicking here DRT Cases Handled by Us The party has reported that the applicant bank is finding difficult to fight the court battle in DRT. Instead the bank has become jittery and is troubling the party and is creating hurdles in getting finance from other banks. It is indulging in further wrong doings amounting to defamation, about which the party has reported to DRT. The party desired that we should conduct the cross examination of the bank officials at appropriate time.
Advice to New Visitors and DRT Litigants
Please speak to us on phone (nos given above) or send e-mail. If you desire to have personal discussions about your DRT or Securitisation or IPR legal matters, please first send copies of important documents at our address given at the bottom of this page and fix up prior appointment on phone. The person who can take full decisions should only visit us. We are based at Indore in Central India. In extreme urgency, you may visit along with papers but you will have to stay at Indore at least for two days. We have clients from all over the country as well as abroad. As a whole you may approach us for all DRT Problems and Solutions. With our advice, several borrowers and guarantors in their DRT cases have benefited. and hence you should not be afraid of legal problems relating to DRT, Securitisation Notice, Appellate DRT or NCLT i.e. National Company Law Tribunal, sec. 138 of NI Act relating to dishonour of cheques, BIFR, NPA Consultancy by NPA Consultants, IPR matters etc.. Your DRT advocate must be doing a very good job but he needs our specialized and expert help to achieve success in DRT litigations as he is not having that much of thorough knowledge of banking, industries, industrial finance, securitisation act, DRT intricacies, DRT counterclaim, NCLT i.e. National Company Law Tribunal, BIFR, IPR etc. as we have. The drafting of legal defence for DRT cases, DRT counterclaim and IPR documents is highly specialized job and is the foundation of defence in Debt Recovery Tribunal. In preparing the said counterclaim, we take into account balance sheets, project report, correspondence, documentation etc. which normal advocates can not do. You have the first and last opportunity in DRT to file proper counterclaim The DRT counterclaims prepared by us are at various stages of adjudication in DRT Mumbai, DRT Delhi, DRT Jabalpur, DRT Chandigarh, other DRTs etc. Top industrialists, bankers, lawyers including DRT advocates have made references to us. We have a team of experienced lawyers, advocates, retired judges, chartered accountants, bankers, DRT advocates, NPA Consultants and industrial consultants to prepare DRT defence, DRT counterclaims, BIFR and IPR matters. Solution to any problem of debtrecovery in DRT is our specialization particularly for the defence of the borrowers and guarantors.
RBI Guidelines and RBI Interest Rate Circulars:- As per law and Supreme Court judgments, the RBI Guidelines are statutory and mandatory. The violations of RBI Guidelines constitute an important defense for the borrowers and guarantors in DRT litigations. We have prepared an useful compilation of the same in various formats viz. subject wise, date wise etc. Desired RBI Guidelines and interest rate circulars are available to our clients only. They are quite useful in DRT defence, DRT Counterclaim, DRT arguments, DRT appeals, defence and objections in Securitisation Act, defence in NCLT i.e. National Company Law Tribunal, BIFR etc. Our compilation of RBI Guidelines and interest rate circulars is a must for any DRT Litigants, their DRT Advocates and DRT Lawyers. As a whole one may approach us for all DRT Problems and Solutions
DRT Counterclaim:- We prepare the DRT counterclaim based on the wrong doings of the banks and financial institutions and illegalities as above. The DRT counterclaims prepared by us are comprehensive enough including all categories of loss and damages based on the law of torts. We have found that the DRT advocates and DRT lawyers prepare simple claims based on few categories. Several parties have and are referring their DRT counterclaims for us to redraft and recalculate the same. It requires an expertise and knowledge about the project report, appraisal report, balance sheets, legal proceedings in DRTs, correspondence etc. Mr. B.S. Malik, an advocate having court practice of 42 years out of which 25 years were in Supreme Court has appreciated our drafting of counter-claim vide synopsis of video interview which can be seen by clicking here at Synopsis Video Interview - BS Malik, Sr. Supreme Court Advocate As a whole one may approach us for all DRT Problems and Solutions
Mardia ne maar diya - Vide editorial in the ET dated 03.06.04. Also please vide news item at page 1 in the ET dated 02.06.04, the DRT Ahmedabad has awarded stay against any further action after attachment by ICICI Bank in the matter of notice under Securitisation act. This order is under sec. 17 of the Securitisation act. For our comments on these two items please click here :- Securitisation Act-Comments
Our Comments on SC Judgment on Mardia :-The judgment is in favour of the Borrowers and Guarantors. The doors for going to court and DRT before taking of possession have been restored. The draconian condition of 75% deposit for appeal to DRT has been removed. The full text of the judgment is available at www.judis.nic.in For our detailed comments on the said judgment please click here :- Securitisation Act-Comments Our comments on recent imposition of court fee on appeal to DRT are given below as well as on the said page.
Securitisation Act - Court Fee for appeal to DRT:- The recent imposition of fee for appeal in DRT vide news item at page 16 of the Economic Times dated 01.06.04 is unreasonable, arbitrary and hence illegal, for our comments please click here Securitisation Act-Comments
Securitisation Act - Writs in respect of Private Banks, Co-operative Banks, Foreign Banks etc. :- The borrowers and guarantors should understand that the writ jurisdiction can not be used against private banks, co-operative banks, foreign banks etc. which are not authorities under the Article 12 of the Constitution. for details please visit the page by clicking here Securitisation Act-Comments
Our Articles useful for Borrowers and Guarantors:- Our articles have been published in the Financial Express. The All India Manufacturers Organisation in its famous web site www.aimoindia.org has reproduced copies of our four articles relating to DRT matters. These original articles can be searched in the archive of the Financial Express in its web site www.financialexpress.com Two of these articles have been reproduced in other pages of this web site.
(1) We completed a DRT Mumbai assignment to prepare a DRT counterclaim against a public sector bank in respect of a textile unit. Assignments from DRT Mumbai, DRT Chandigarh, DRT Nagpur, DRT Jabalpur, DRT Allahabad have been received and completed. We had earlier handled DRT counterclaims drafting in respect of Steel, Plastics, Drugs, Communication, Synthetic Fibre, Fertilizers etc. Most of these cases are at various stages in DRT Jabalpur, DRT Mumbai, DRT Delhi and DRT Chandigarh. Few Borrowers and guarantors in DRT cases based at Mumbai, Delhi, Ludhiana, Bangalore, Jodhpur, Kolkata, Chennai, and Lucknow are in correspondence with us to take up their legal cases in DRT i.e. Debt Recovery Tribunal. Visitors from Mumbai, Goa and Nagpur visited us and held comprehensive discussions. A Senior |Solicitor and Advocate from Mumbai visited us along with our client. Assignments are at various stages. As a whole you may approach us for all DRT Problems and Solutions. Solution to any problem of DRT is our specialization particularly for the defence of the borrowers and guarantors.
(2) The parliament has, on 11.12.03, repealed 'SICA 1985' popularly known as BIFR Act. New body i.e. NCLT (National Company Law Tribunal) will take over the functions of BIFR including winding up of Companies. A new page has been added on this site on NCLT i.e. National Company Law Tribunal.
(3) We have solved many complex legal problems of borrowers and guarantors in their DRT cases and saved them and their properties. We can also be helpful to you in your case in Debt Recovery Tribunal. As a whole you may approach us for all DRT Problems and Solutions. Please study this web site and speak to us on phone if you have any unsolved or difficult DRT problem.
(4) Anand Ahuja Associates, New York, USA and DRT Legal Solutions, Indore, India have entered into a joint venture and have created a legal enterprise to handle common litigations from their home countries, IPR matters and legal BPO. The contact details of Mr. Anand Ahuja and his Attorney Advisors are available on the page Our US Joint Venture with Anand Ahuja Associates of this web site. A separate web site www.usindolegal.com has been launched. People having any legal problems in USA and India may contact Mr. Anand Ahuja or us. They will be served efficiently and effectively. Our focus area in India is legal BPO work i.e. Business Process Outsourcing and DRT i.e. Debt Recovery Tribunal and in USA, antidumping and immigration. As a whole you may approach us for all DRT Problems and Solutions
Advice to New Visitors :- This site contains several useful pages specifically for DRT litigants. The navigation buttons are marked in Blue and Red above. First please visit pages 'Useful Article-Borrowers' and 'Useful Article-Guarantors' which contain our published articles in the Financial Express respectively captioned as Who's afraid of debt recovery tribunals? and Debt Recovery Tribunals: There's way out for defence of guarantors Other important pages are DRT Solns. - Frequently Asked Questions, DRT Cases Handled by Us, DRT Solns. - About Us, DRT Solns. - News & Views, Useful Interactions with Clients & Visitors, Securitisation Act - Comments, MiniArticles - Letters to Editor etc in respect of Debt Recovery Tribunal, sec. 138 of NI Act relating to dishonour of cheques etc. Our new site www.usindolegal.com deals with BPO and legal BPO.
Other News :- (1) One of our clients in DRT Mumbai secured status quo and stay against legal notice under the Securitisation Act in a writ filed in Mumbai High Court. They have also filed damage suit against the bank. The writ as well as the damage suit were drafted by us. The immediate legal problems of the party have been solved. They have submitted their objections to the Bank. The Bank has rejected the same, the party has gone to the High Court by way of writ. The bank has settled the case and the factory has been restored to our client. (2) With our approach of legal defence of DRT counterclaim, the borrowers and guarantors in their DRT cases need not worry about coercive recovery actions like the said notices under the Securitisation Act or summary proceedings under the DRT Act, BIFR or forthcoming proceedings under NCLT i.e. National Company Law Tribunal and other legal matters relating to Debt Recovery Tribunal. As a whole you may approach us for all DRT Problems and Solutions. Solution to any problem of DRT is our specialization particularly for the defence of the borrowers and guarantors.
Highlights 0f Our Approach and Synopsis of this Web Site
The highlights of our approach and synopsis of this web site are given below. For further details, the visitors are requested to study contents of various other pages of this web site :-
Highlights of our approach :- (1) The bureaucracy in banks and financial institutions always commits mistakes and legal wrong doings in normal banking as well as in DRT. With our experience of nearly 15 years of dealing with bank and DRT litigations, we locate these wrongdoings and prepare countersuit or DRT counterclaim to be filed against the banks in DRT or civil court. Since such DRT counterclaims by the borrowers and guarantors are much more than the alleged dues claimed in DRT, legally there is no debt due and hence no recovery action under DRT Act or Securitisation Act can be indulged or enforced. During the process of litigation in DRT, the banks are made to admit their wrong doings and hence the discretion of the judge of DRT is avoided. Use of the law of torts greatly widens the scope of the damages in DRTs. For further details, please visit various pages of this web site dealing in various aspects of DRT litigations. (2) In respect of notice under Securitisation Act, the best legal defence again is Damage Suit or DRT counterclaim as the case may be. (3) Legal Opinion:- Parties may send copies of documents along with their queries at the address given at the bottom of this page. For any clarifications, they may contact us at our phone nos. given above. (4) For DRT Counterclaims filed by our clients against public sector banks in DRTs vide details on the page - DRT Cases Handled by Us (5) The NCLT i.e. National Company Law Tribunal Act has come into existence. The pending cases in BIFR and winding up cases in the High Courts will be transferred to the said tribunal. We have expertise to handle such cases also. All legal matters relating to Debt Recovery Tribunal i.e. DRT and NPA Consultancy are dealt by us with definite relief to the Borrowers and Guarantors. It would be a great help to your DRT advocate. As a whole you may approach us for all DRT Problems and Solutions. Solution to any problem of debtrecovery in DRT is our specialization particularly for the defence of the borrowers and guarantors.
Synopsis:- Law of Torts is our specialization. For the first time in India we have applied this law in DRT cases. DRT Counterclaim is the only defence in DRT cases including Notices under Securitisation Act. The banks always and in all DRT cases commit legal violations forming basis of such DRT counterclaims. Even in case of DRT suit filed accounts, the DRT counterclaim can be raised. Further, the application of law of torts alone offers full scope. This law is fully applicable in our country, We update the site monthly on every first Monday of a month or any other day for special release with latest and useful materials specially relating to DRTs. A visit once a month will be highly beneficial to you. For the convenience of the regular visitors, we have added a page - Update after last Release. On account of our specialized DRT knowledge and DRT practice for more than 20 years, with our exhaustive DRT legal opinion you need not be afraid of DRT or Securitisation Act or NCLT i.e. National Company Law Tribunal or BIFR. You may even speak to us to solve all DRT problems of borrowers, guarantors and their assets. We also prepare usual DRT written statements including DRT counterclaims in DRT cases apart from dealing in all DRT matters. We have clients from all over the country from various Debt Recovery Tribunals i.e. DRTs. As a whole you may approach us for all DRT Problems and Solutions. Solution to any problem of debtrecovery in DRT is our specialization particularly for the defence of the borrowers and guarantors.
Settlements and undue delays :- Many parties desire settlements. In almost all such cases, the bankers are unable to decide or ask the party to deposit some amount. The party loses such amount and ever increasing interest bring them to the amount from where the negotiation started. Under such situation, there is no other legal solution but to file proper damage suit against the bank in DRT. If the DRT court fee is a problem, declaratory and injunction suit may be filed. We can draft such suits and damage suits. In case of undue delays by the banks, similar action is the only legal solution. as a whole you may approach us for DRT Problems and Solutions. Solution to any problem of debtrecovery in DRT is our specialization particularly for the defence of the borrowers and guarantors.
Consequences of not safeguarding your interest :- With coercive legislations like Securitisation Act, summary courts like DRT i.e. Debt Recovery Tribunal and unified courts like NCLT i.e. National Company Law Tribunal, recovery adjudications and executions will be faster. Even properties may be sold off at throw away prices. The lenders will proceed through DRTs for further recoveries for balance amount (with interest) against the borrower and guarantors. In some cases, the borrowers are being arrested. Proper and timely DRT defence in form of DRT counterclaim alone can check this process. As the lenders are taking legal actions to protect their interests, you are fully justified in saving yourself with the tool of law. On account of our expertise and specialization, our drafting of DRT counterclaim and DRT legal opinions are of highest quality. In special cases, our help in arguments in DRT and NCLT i.e. National Company Law Tribunal and as a whole DRT Problems and Solutionswill be highly beneficial. Any delay in not coming to us endangers your property and creates problems to you and your next generation.
NCLT i.e. National Company Law Tribunal:- The NCLT i.e. National Company Law Tribunal is expected to commence its operations in the country any time no sooner the judges are posted. Most of the medium and large scale industries facing legal recoveries and under rehabilitation are having stay orders from BIFR will get the said stay vacated from the respective NCLT i.e. National Company Law Tribunal. The NCLT i.e. National Company Law Tribunal will have much wider coverage than the BIFR. The NCLTs i.e. National Company Law Tribunals in addition will deal with winding up cases also. The adjudications in NCLT i.e. National Company Law Tribunal and respective DRT will ultimately evolve leading judgments on industrial litigations in India. The material facts including counterclaim established in DRT will be the deciding factors in the respective NCLT i.e. National Company Law Tribunal. The DRT lawyers will find new avenues for practice in the respective NCLT i.e. National Company Law Tribunal. On account of our specialization in this particular field and long experience in Industrial Litigation equips us better to prepare suitable defence, guidance and advice in the matters to be dealt in DRT and respective NCLT i.e. National Company Law Tribunal and as a whole DRT Problems and Solutions.
BIFR Cases and Counter-claims: - Most of the BIFR cases are under stay till the NCLTs become active. During this period, the BIFR litigants must review their WS and if they have not quantified their loss and damages, they must prepare amendments to WS incorporating all elements of damages based on project reports and balance sheets. BIFR stay is a golden opportunity to evolve the strong defence of counter-claim. Many BIFR parties are in touch with us. We welcome such BIFR matters. The parties can interact with us on all implications of the BIFR litigations. The things will not be much different in NCLT. It is a modified version of BIFR. The constitution and working is similar to BIFR. Since we need minimum period of two months to prepare counter-claims, the BIFR parties must approach sufficient time in advance.
Scheduled Monthly Update :- Every first Monday of a month, special release for latest material on any day on DRT i.e. Debt Recovery Tribunal.
Overseas Visitors: - We specialize in measure of damages under torts or contracts and can undertake assignments for the same in any English speaking country. We have joint venture with an American Law Firm and details are available on our web site www.usindolegal.com For NRIs who are involved in India in DRT litigations, we offer full fledged legal services in DRTs as a whole DRT Problems and Solutions.
About Us :- Many renowned persons particularly connected with DRT, debt recovery tribunal, nclt, BIFR and industrial litigation have appreciated our work as well as this web site. Some of them are our clients, visitors of our site, industrialists, advocates, DRT & NCLT Lawyers and judges, as a whole DRT Problems and Solutions. Please see details and their comments at page About Us-DRT Solutions We have been dealing in DRT matters, DRT counter-claims, DRT defence for borrowers and guarantors etc since 2001. We have clients in several DRTs of the country.
Solar Healing, HRM, Sun Gazing, Solar Energy as Diet, Suryayoga: - Shri Hira Ratan Manek (HRM) has abandoned food since 1995 and has substituted it with solar energy. There was a report on him in Aaj Tak news channel on 18.03.06. We studied his web site www.solarhealing.com and attended his lecture in Mumbai on 20.03.06. Complete lecture in Hindi was video taped by us and is available in a CD. We are so impressed by his pioneering work on solar healing that we have dedicated this site to him and introduced a separate page on this site, which may be visited by clicking here Solar Healing, HRM, Sun Gaging, Solar Energy as Diet, Suryayoga
XGA LCD Projector, made by us, Unique Folded Design, All Inputs, Long Throw: - Based on knowledge contained in various forums on diy projector sites, we have made our own projector details of which can be seen by clicking here XGA Projector Home Made This is perhaps the first such projector made in India. Apart from home entertainment, we intend to use it for playing our video CDs for our clients i.e. Borrowers and Guarantors who are contesting their litigations in DRTs and other courts.
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Contact Information :- Phones (India):- Mobile- +91-969-1103689, Off. & Res.- +91-731-4049358 and +91-731-3290201,
Popularity of our web site :- The key word for search of our website is 'drt' or any phrase commencing with 'drt' We are on the top in Google Search for 'drt' among 28,60,000 results globally. In most of the search engines like yahoo, msn, google, excite, altavista, mamma, alexa etc., To verify, you may visit www.yahoo.com, www.msn.com, www.rediff.com, www.indiatimes.com, www.altavista.com, www.google.com, www.excite.com, www.hotbot.com, www.123india.com, www.aol.com, etc. Our reference appears in www.economictimes.com, www.amazon.com, www.financialexpress.com, www.lawcrawler.com, www.findlaw.com, www.law.com, www.supremecourtofindia.com, www.supremecourtonline.com,
(2) We have created a separate web site www.usindolegal.com which deals exclusively with our US joint venture enterprise for activities like BPO, legal BPO, DRT etc. This site has started appearing in the search results of Google, Mamma, Alexa and Yahoo.
Application of Law of Torts in claiming Damages from Municipal Corporations for demolition of structures, closure of shops etc:- In many parts of the country, the Municipal Corporations are demolishing structures like shops and houses which existed for number of years. The shops existing for number of years are proposed to be shut down. The affected persons should claim Damages under the Law of Torts, which would be substantial. It is learnt that in Delhi itself about 5 lac shops are to be closed down and about 25 lac persons would be out of jobs. All these persons should file damage suits in the civil court. Since the damages would be substantial, the suits may be filed as Indigent Persons. Since the damages would attract interest, the usual delay by the civil courts will not affect the final outcome. The affected shop owners may discuss the details with us on phone.
Our Articles for Borrowers and Guarantors:- Our articles on DRT matters have been published in the Financial Express. The All India Manufacturers Organisation in its famous web site www.aimoindia.org has reproduced copies of our four articles. These original articles can be searched in the archive of the Financial Express in its web site www.financialexpress.com Two of these articles have been reproduced in other pages of this web site.
Useful link www.WorldVideoBusiness.com :- WorldVideoBusiness-WVB® is a business to business e-marketplace source of international trade leads, and tender opportunities from companies and government organizations around the globe.
About Us in Brief :- (1) We specialize in DRT (Debt Recovery Tribunal) and NCLT (National Company Law Tribunal) matters. As a whole you may approach us for all DRT Problems and Solutions as well as matters connected with ARCIL i.e. Asset Reconstruction Company (India) Limited, We have a Joint Venture with an America based law firm for various activities like BPO, legal BPO and DRT. The details of the said American firm and the joint venture may be seen at the page - Our US Joint Venture with Anand Ahuja Associates or in www.usindolegal.com (2) For your all problems including those in DRT, please phone us or send e-mail. Please give your contact details along with your problems in brief. As a whole you may approach us for all DRT Problems and Solutions. (2) With our Legal Opinion, you need not worry about the Securitisation Act or other DRT matters or NCLT. Please visit the page Products & Services and Frequently Asked Questions (3) On account of our expertise in the Law of Torts and Banking and experience past 15 years, we can help you to submit suitable defence with winning strategy in DRT cases, Securitisation Act, Guarantors' defence etc. (4) We need only copies of all available documents to render our expert 'Legal Opinion' which will be quite useful and valuable to you particularly in DRT i.e. Debt recovery Tribunal. (5) We have also handled assignments for preparation of damage claims against Electricity Boards, Insurance Companies, Municipal Corporations etc. all on the basis of the Law of Torts. (6) The DRT counterclaims is to be prepared well in advance so that it could be raised at proper time in DRT or other forum to safeguard the securities and assets. (7) Several DRT counterclaims drafted by us are being handled by different advocates at DRT Mumbai, DRT Delhi, DRT Jabalpur etc. Thus DRT advocates are available in these cities. Cases in other Debt Recovery Tribunals are under process. (8) This site is updated monthly mostly on every first Monday of the month or for urgent release on any day with latest material. (9) For further details about us, please visit the page About Us-DRT Solutions As a whole you may approach us for all DRT Problems and Solutions. We hail from the place to which Maharishi Mahesh Yogi and Acharya Rajnish belong and hence this site is dedicated to them.
Our this web site is dedicated to Yoga Rishi Baba Ramdev Ji Maharaj:- Our this web site is respectfully dedicated to Yoga Rishi Baba Ramdev Ji Maharaj whose method of Pranayam has cured even incurable diseases and thus has revolutionized modern medical science. For further details please visit our special page by clicking here Baba Ramdev Ji Maharaj, Yoga Guru, Cure for All Diseases, Medical Science Revolution
Site also dedicated to:- (1) Swami Ramdevji, Acharya Balkishan and their Guru Pradumn Maharaj.
We regularly practice TM and SCI of Maharishi Mahesh Yogi. We also regularly practice Hath Yoga including Pranayam based on Baba Ramdev Ji Maharaj. We daily watch his global TV program on Astha Channel from 05:30 AM to 8AM and 8PM to 9PM Indian Standards Time. On Sanskar channel, we daily view the discourse of Pradumn Maharaj from 4 AM to 5:30 AM. Many chronic diseases such as Cancer, Parkinsons' disease, Polio, Asthma, Hypertension, diabetes etc. have been cured by the said method of Pranayam which can be learnt even by watching his program on TV. Since 30th March '06, we have started practicing Sun Gazing as prescribed by HRM.
(3) Shri Satyanarayan Morya alias 'Babaji' for his praiseworthy service to our nation. Please visit his site www.artistbaba.com
Disclaimer:- We have no branch or setup other than at Indore. It is observed that some persons are using name of our firm as well as name of our web site. We have not given any such authority to anyone to do so. Under such facts and circumstances, if anybody suffers any loss, we shall not be responsible. If such instance comes to notice of someone, we may kindly be informed.
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