|
| |
Saturday 1st April 2023 (last updated) Monthly Release
324
Highlights:-
All problems of the borrowers &
guarantors for Debts Recovery
i.e. DRT, Securitisation Act ie Sarfaesi Act, Recovery of Debts and Bankruptcy
Act, Insolvency and Bankruptcy Code, Recovery of Debts, Bankruptcy Act, Actions by CMM, DM, Magistrate under Sec 14 of Sarfaesi Act, ARCIL i.e. Asset Reconstruction Company
(India) Limited, NCLT i.e. National Company Law Tribunal, as well as relevant
Appellate Tribunals 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, ADRTs, & NCLTs. People from all
over the country and abroad are phoning us and getting solutions to their DRT,
ADRT, NCLT, Securitisation, Recovery of Debts and Bankruptcy Act and related legal problems.
For Borrowers in DRTs, ADRTs or NCLTs or receiving any legal notices for recoveries,
the best defence is Counter-claim or Counter Damage claim. To understand the
details, please ring us at 9691103689. You will get instant information in
detail. Many parties are
approaching us either to draft or to redraft their counterclaims, loss and damages in DRTs
under DRT Act or Securitisation Act as well as in NCLTs. 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 , ADRT, BIFR, NCLT and NPA experts to examine the legal and other 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.
You are always welcome to approach us anytime for all DRT, ADRT & NCLT Problems and
Solutions. We advise advocates on use of latest video and presentation
technology in office as well as in court rooms. There are 39 DRTs and 5 DRATs in the
country. In some cities like Delhi and Mumbai, there are even three DRTs in one
city. Due to application of latest electronic technology, the cause lists of the
DRTs are published on the internet on daily basis. The latest news and
developments about the Debt Recovery, E-DRT Systems, daily orders, judgements
are also available therein. We have also handled Defamation cases including
consequent Damages. The case at present being handled is damage claim due
to Defamation of Dabang Dunia and its owner by Dainik Bhaskar and the Govt. Deptt.
The
Damages are estimated to be above Rs, 10,000 crores. We have special knowledge
and expertise in this line. The persons and bodies
facing Defamation may contact us.
Our Client wins in SA against 4 Banks in DRT AS WELL AS IN DRAT – amount
involved nearly Rs. 90 crores and a tooth & nail fight of 16 years
The latest in this case (as on 17.02.23 is that the said
Banks have lost their case in Appeal before DRAT Mumbai.
Entire Judgment reproduced vide link
DRT Orders in favour of Borrowers & Guarantors
Govt and RBI have framed
Special Policies to help Borrowers affected by Pandemic Corona-19
The Pandemic Corona-19 has seriously affected the business all over the
world. Government of India took special actions to help the borrowers affected
by the said Pandemic Corona-19. The RBI constituted special Committee known as
Kamath Committee which framed special RBI Circulars to help the affected
borrowers. At the instance of the said circulars, the Board of the lenders had
to issued special "Board Approved Policy" to help the assisted borrowers. In
such cases, if proper pleadings are prepared, the said borrowers will definitely
win their cases in DRTs. We have handled such cases. The affected borrowers may
contact us on our M-9691103689.
DRT Cases particularly those who have just received notices u/s 13(2) or 13(4)
will be greatly benefited if they ring to us at Mob - 9691103689 (from 11AM to 6
PM on weekdays:-
You get instantaneous advice on the said mobile no.
Best Approach in DRTs for Borrowers & Guarantors :-
(1)
If you are our client, our consultation is available to you at any time on
24/7 basis. (2) We encourage you to acquire basic knowledge so that you may
interact with us as well as your advocate properly. (3) We insist that you
must always be present in the Court along with your advocate. You get
instantaneous
advice on our mobile no. 9691103689 .
Safeguards under Sec 14 of Sarfaesi Act -
Pl contact us on phone as soon as you received notice under
Sec 13(2) of Sarfaesi Act, we shall advice you for necessary precautions and
safeguards. Please keep the following in mind:-
(a)
Sec 14 is not in isolation. Its an execution process under sec 13(4) for
taking possession of the secured assets with the assistance of the CMM or
DM.
(b)
Property is a constitutional right under Art 300A of the Constitution. Its
right can only be taken away by a legal order of a court of law.
(c) It
is observed that the lenders are invoking the Sec 14 just after 45 days of
the notice u/s 13(4). The borrowers must file their counter-claim in the SA.
Further the borrowers must file caveat in the court of CMM or DM. If the
caveat is not permitted, they should file an application before DRT
requesting interim injunction against bank approaching CMM till the SA is
decided particularly the situation of 'No Debt Due' on account of
counter-claim is decided.
(d)
The proceedings before the CMM or DM must be accomplished thoroughly well.
In almost all the cases, the counterclaim is much more than the claim of the
lender and hence there is 'No Debt Due'. Under such facts and circumstances,
the lender cannot invoke Sec 14 and if it does so, it must be contested
before the CMM/DM and DRT.
DRT is a Trial Court
- Proper Pleadings with Counter-claim should be drawn & filed - Proper &
Full fledged Trials be conducted -
Pl inspect original documents, frame complete issues, have evidence and
arguments on all the issues and ask the DRT Judge to award his judgment on
all the issues.
Counter-claim is the only complete defence
for the borrowers against Notice under Securitisation Act
and or Original Application under the DRT Act as well as NCLT Act:-
Under the
Securitisation Act and the
Recovery of Debts and Bankruptcy Act and related
provisions of law as well as NCLT Act,
the only and ultimate 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, RBI
Guidelines, bank
nationalization act, constitution of India, Administrative Law, Law of
Limitation, various Supreme
Court Judgments, equity
and good conscience. Since the damages are under Sec 22 of the Limitation Act ie
Continuing breaches and torts, there is no problem of limitation. In one case,
we have even filed the counter-claim after 21 years of the WS. If you are unable to get such pleadings prepared, our
professional services may be utilized. We are in this line since 2001. My
articles on Counter-claim have been published in Financial Express 20.06.01 and
05.07.01 which can be seen by clicking
Useful Article-Borrowers│Useful
Article-Guarantors. 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 under Securitisation Act and the Recovery of Debts and Bankruptcy Act . 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 application 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, Recovery of Debts and
Bankruptcy 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 under the Recovery of Debts and Bankruptcy Act. 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 under the Recovery of Debts and
Bankruptcy Act. 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 thorough 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.
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 debts recovery 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 debts recovery in DRT is our specialization particularly for the
defence of the borrowers and guarantors.
Appeal to DRAT - Problem of 25% Pre-deposit - Only Solution is Appeal as Indigent
Person :-
As per Sec 18 of the SARFACEI Act, 25% of the amount of debt claimed by the
secured creditor or determined by the DRT whichever is less is to be pre-deposited
in DRAT before the Appeal is entertained. If the borrower is not having this
amount but he intends to appeal, he should file the Appeal as Indigent Person
vide details in O-33 of CPC.
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.
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.
Fin Min designates one DRT each in Chennai, Delhi and Mumbai to
deal with high-value cases
08.11.22
The Finance Ministry has
designated one Debts Recovery Tribunal (DRT) each in Chennai, Delhi and Mumbai
for speedy adjudication and recovery in high-value cases of ₹100 crore and
above.
This comes in the wake of banks making a request to the Ministry
for
setting up special DRTs for expediting recovery in high-value cases, in view of
high pendency of cases in existing tribunals. As of February-end, there were
1,61,034 pending cases at the DRTs, with DRT 2 Chandigarh having the
most
(10,578 cases), followed by DRT 3 Chandigarh (8,885) and DRT 3 Kolkata (7,171),
according to the reply of Bhagwat Karad, Minister of State for Finance, to a
question in Lok Sabha. According to a notification issued by the Finance
Ministry, DRT 1 Chennai will deal with all applications involving a debt amount
of ₹100 crore and above falling under the jurisdiction of DRT 2 and 3 in
Chennai, DRT Madurai, DRT 1 and 2 Bengaluru, DRT 1 and 2 Ernakulam, and DRT
Coimbatore. DRT 2 Delhi will deal with all applications involving a debt amount
of ₹100 crore and above falling under the jurisdiction of DRT 1 and 2 Delhi, DRT
Jaipur and DRT 1, 2 and 3 Chandigarh. DRT 1 Mumbai will handle all applications
involving a debt amount of ₹100 crore and above falling under the jurisdiction
of DRT 2 and 3 Mumbai, DRT Pune and DRT 1, 2 and 3 Ahmedabad, DRT Aurangabad and
DRT Nagpur. “With DRT recovery hovering around 4 per cent in the last two years
and yielding lesser (in percentage terms) than even in Lok Adalat (RBI Trend and
Progress of Banking reports), creation of high-value (₹100 crore and above)
benches for faster disposal and value maximization was urgent need of the hour.
“High-value cases are estimated to be numbering only 1 per cent, but amount wise
constitute 80 per cent of claims,” said Hari Hara Mishra, Director, UV ARC.
Organisation of three high-value DRT benches will help improve effectiveness
in recovery mechanism, specifically high-value cases, he added.
Latest Amendments in DRT and SARFAESI Acts:-
The government has doubled the monetary limit to Rs 20 lakh for
filing loan recovery applications in the Debt Recovery Tribunals (DRT) by banks
and financial institutions. The move is aimed at helping reduce pendency of
cases in the 39 DRTs and 5 ADRTs in the country. The central government has raised “the
pecuniary limit from Rs 10 lakh to Rs 20 lakh for filing application for
recovery of debts in the Debts Recovery Tribunals by such banks and financial
institutions,” said a Finance Ministry notification. As a result, no bank or
financial institution or a consortium of banks or financial institutions can
approach the DRTs if the amount due is less than Rs 20 lakh. According to RBI
data on global operations (with provisional data as on March 2018), an aggregate
amount of Rs 3,98,671 crore was written off by banks over the last four
financial years. Over the same period, their NPAs declined by Rs 2,57,980 crore
due to recoveries.
Banks and financial institutions’ recovery of dues takes place on
an ongoing basis through legal mechanisms, which interalia includes the
Securitization and Reconstruction of Financial Assets and Enforcement of
Security Interest (SARFAESI) Act, Recovery of Debts to Banks and Financial
Institution (DRT) Act and Lok Adalats. The borrowers of such loans continue to
be liable for repayment even when the loans have been removed from the balance
sheet of the bank(s) concerned. To make the tribunals more effective and to
facilitate disposal of debt recovery cases, the government has made several
amendments in different laws, including the SARFAESI Act.
Govt and RBI have framed
Special Policies to help Borrowers affected by Pandemic Corona-19
The Pandemic Corona-19 has seriously affected the business all over the
world. Government of India took special actions to help the borrowers affected
by the said Pandemic Corona-19. The RBI constituted special Committee known as
Kamath Committee which framed special RBI Circulars to help the affected
borrowers. At the instance of the said circulars, the Board of the lenders had
to issued special "Board Approved Policy" to help the assisted borrowers. In
such cases, if proper pleadings are prepared, the said borrowers will definitely
win their cases in DRTs. We have handled such cases. The affected borrowers may
contact us on our M-9691103689.
Defamation and Damages:-
We specialize in the law of Defamation and consequent Damages. In 2012, we
handled a major case of Defamation involving damages of Rs 1400 crores. At
present we are handling a Defamation case involving damages of more than Rs
10,000 crores. The interested persons may discuss on phone at our mobile no
9691103689.
DRT Judgments Favourable to Borrowers and Guarantors – Now Full text of such
Judgments is being provided on this Web Site with Important Portions marked in Red
Following is the extract from our web page vide link
http://www.drtsolutions.com/DRT-Judgments.htm
We have been providing citations and extracts of judgments favourable / useful
to Borrowers and Guarantors under Recovery
of Debts and Bankruptcy Act. Subsequently several borrowers approached us to
provide the full text of the said judgments. Hence we have now started
providing full texts of such judgments on our this web site itself. Since the
advocates are quite busy in their routine work, we have marked the important
portion of such judgments in Red as well as our comments. Thus with passage of time, a library of
important judgments with full text in soft copies and important portions marked
in Red is being built up on the internet at our web site. The borrowers should go
through such judgments periodically and apprise their advocates. It is needless
to mention that such valuable information is free of cost in the best interests
of borrowers and guarantors. You may therefore spread the word among the
litigant borrowers, guarantors and their advocates to visit the above link
periodically. If one finds judgments useful and favourable to the borrowers and
guarantors, he may mail the full text of such
judgment for publication on our web site.
The judgments published on this web
site have become so popular that the phrase 'DRT Judgments' occupies top
position in the Global and Indian search engines of Google.
DRT Judgments Favourable / Useful to Borrowers and Guarantors –
Full text of
Judgments available on
this
Web Site:-
Note :- DRTS-00
stands for 'DRT Legal Solutions-00' and is the Citation for judgments on this
web site.
◙ DRTS-024
Bombay High Court judgment and order on 'Physical Possession u/s 14 of
Securitization Act' in the matter of 'Milind Kashinath Mahadik vs State of
Maharashtra' decided on 11.12.14. The said
High Court set aside the orders of the Magistrates and directed the Magistrate
to investigate u/s 156(3) of Cr. P. C. In this case the secured creditor took
physical possession violating the law and procedure laid down in SARFAESI Act. Full text of the judgment is available vide link
Milind Mahadik-Physical Possession u/s
14 Important portions of this judgment have been marked in Red.
We have come to know that SLP filed by the State Govt
has been rejected by the Supreme Court in limine and hence this judgment has
become absolute.
◙ DRTS-023
DRT-1 Chennai judgment on 'Dismissal of OA subsequent to invoking
Securitization Act' in the matter of 'Tetrahedron Ltd vs Indian Bank' decided on 08.11.13. The said
PO DRT ruled that OA filed by the Bank is not maintainable as the Bank has
already initiated recovery of dues by issuing notice u/s 13(2). Full text of the judgment is available vide link
www.drtsolutions.com/OA-Dismissal-Chennai.pdf
Our comments on this judgment are available vide link
http://www.drtsolutions.com/OA-Dismissal-Chennai.htm
◙ DRTS-022
Nagpur District Magistrate judgment on 'Dismissal of Bank's
Application u/s 14' in the matter of 'State Bank of Patiala vs Shri Homraj Meghraj
Hiranvar' decided on 22.10.13. The said Magistrate ruled that since the Bank has
not followed the prescribed procedure, the application of the Bank u/s 14 is
dismissed. Full text of the judgment in Marathi is available vide link
www.drtsolutions.com/Magistrate-Nagpur.pdf
Translation
of the judgment in English with our comments is available vide link
http://www.drtsolutions.com/State%20Bank%20Patiala-Meghraj.htm
◙
DRTS-021
Calcutta High Court judgment on 'Publication of Photos in newspapers'
in the
matter of 'Ujjal Kumar vs SBI' decided on
03.05.13.
The said High Court ruled that the Publication of Photos in newspapers of the
borrowers to recover debts can not be resorted to as it is not covered in
Securitization Act.
Full text of the judgment with our comments and
important portion marked in Red is available vide link
http://www.drtsolutions.com/Ujjal-Kumar-vs-SBI-2013.htm
◙
DRTS-020
Gujrat High Court judgment on 'Securitization Act not applicable to Co-operative
Banks'
in the
matter of 'Rajendra N Shah vs Unknown' decided on
22.04.13.
The said High Court ruled that the Amendment issued by the Govt in January 2013
is ultravires in respect of co-operative banks.
Full text of
the judgment with our
comments and important portion marked in Red is available vide
link
http://www.drtsolutions.com/Rajendra-Shah-vs-Unknown-2013.htm
◙
DRTS-019
Supreme Court judgment and order on 'Review due to Misconception of Court'
in the
matter of 'Moran Mar Basselios Catholicos vs Moat Rev. Mar Poulose Athanaslus' decided on
02.05.52.
The Supreme Court allowed the appeal, set aside the judgment of the High Court
and admit the Review.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Moran-Review-Misconception.htm
◙
DRTS-018
DRT-II Kolkota judgment and order on 'SA No 101 of 2011'
in the
matter of 'Azmeer Business Pvt Ltd. vs Union Bank of India' decided on
04.06.13.
The case has been decided in favour of the borrower. The PO DRT has set aside
the Bank's notice u/s 13(2), set aside the auction and ordered restoration of
the property to the borrower.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Azmeer-UBI-SA-allowed.htm
.
◙
DRTS-017
Supreme Court of India Judgment on 'Guarantor's Property - Constitutional and
Human Rights'
in the
matter of 'KSFC vs N. Narasimahaih & Others' decided on
13.03.08.
This
is highly relevant to get 'Complete justice for Guarantor's Property'.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/KSFC-Narasimahaih.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-016
Supreme Court of India Judgment on 'Frivolous and Unjust Litigation by
Bureaucracy'
in the
matter of 'Urban Improvement Trust vs Mohanlal' decided on
30.10.09.
This
is highly relevant to 'Frivolous, Unjust and Multiple Litigations' filed
by banks '.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Urban-Improvement-Trust-Mohanlal.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-015
Supreme Court of India Judgment on 'Review and Appeal - Simultaneous
Adjudication'
in the
matter of 'Thungabhadra Industries vs Govt of AP' decided on
20.10.63.
This
is highly relevant to 'Filing of Review and or Appeal and their adjudication'.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Thungabhadra-GovtAP-Review-Appeal.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-014
Supreme Court of India Judgment on 'Natural Justice - Opportunity of Hearing -
Fundamental Rights'
in the
matter of 'Maneka Gandhi vs UOI' decided on
25.01.78.
This
is highly relevant to 'Magistrate in Sec 14 of Securitization Act to provide
opportunity of hearing to Borrowers'.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Maneka-Gandhi-UOI-Natural-Justice.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-013
Supreme Court of India Judgment on 'Court, Tribunal, DRT, Transfer from Court to
DRT, Counter-claim and Appeal'
in the
matter of 'Nahar Industrial Enterprises vs Hongkong & Shanghai Banking Corp' decided on
29.07.09.
Full text of
the judgment with our
comments is available vide
link
www.drtsolutions.com/Nahar-HSBC-Counter-claim-Appeal.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-012
Supreme Court of India Judgment on 'DRTs even can go beyond CPC'
in the
matter of 'ICICI Ltd vs Grapco Industries Ltd' decided on
14.05.99.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/ICICI-Grapco.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-011
Supreme Court of India Judgment on 'Counter-claim can be filed even after filing
of WS'
in the
matter of 'Mahendra Kumar vs State of MP' decided on
04.05.87.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Mahendra-MP.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-010
Supreme Court of India Judgment on 'Discovery, Production and Inspection of
Documents'
in the
matter of 'H.L. Sethi vs R.P. Kapur' decided on
19.07.72.
Full text of
the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Sethi-Kapur.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-09
Kerala High Court Judgment on 'Bank's Application to Magistrate u/s 14 is
appealable to DRT u/s 17'
in the
matter of 'Sami vs Bank of India' decided on
22.07.11.
Full text of the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Magistrate-Appeal.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-08
Supreme Court Judgment on 'Points Pressed during Arguments have to be mentioned
in the Judgment/Order'
in the
matter of 'Mohd. Akram Ansari vs Chief Election Officer and Others' decided on
04.12.07.
Full text of the judgment with our
comments is available vide
link
http://www.drtsolutions.com/Points-Pressed.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-07
Allahabad High Court Judgment on 'SA u/s 17 and 18 to be decided before any
Recovery Action'
in the
matter of 'Gulshan Rai, Jain and Others vs Debts Recovery Appellate Tribunal and
Others' decided on 28.09.11.
Full text of the judgment with our
comments is available vide
http://www.drtsolutions.com/SA-Before-Recovery.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-06
DRAT, Delhi Judgment on 'Counterclaim permissible in SA u/s 17 of Securitisation
Act'
in the
matter of 'Vijaya Bank vs B. L. Gupta' decided on 16.03.11.
Full text of the judgment with our
comments is available vide
http://www.drtsolutions.com/counterclaim-SA.htm
Important
portions of the judgment have been marked in Red.
◙ DRTS-05
Supreme Court Judgment on 'Property
Valuation, Sale, Auction and Disposal' in the matter of 'Ram Kishun & Others vs
State of UP & Others decided on 24.05.12. Full text of the judgment with our
comments is available vide
http://www.drtsolutions.com/SC-Property-Disposal.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-04
Karnataka High
Court Judgment on 'Notice u/s 13(4) is a must before initiating action u/s 14
for approaching to the Magistrate' in the matter of
K.R. Krishnegowda vs Authorised Officer decided on 27.03.12.
Full text of the judgment with our
comments is available vide link
http://www.drtsolutions.com/13(4)-14-Magistrate.htm Important
portions of the judgment have been marked in Red.
◙
DRTS-03
Patna High
Court Judgment on 'Dismissal of the OA' in the matter of Purnea Cold Storage vs
State Bank of India decided on 27.08.12. As soon as SA is filed, the existing OA
or if OA is filed, the same deserves to be dismissed. Full text of the judgment
with our comments is available vide link
www.drtsolutions.com/OA_Dismissal.htm
Important
portions of the judgment have been marked in Red.
◙
DRTS-02
Supreme Court
of India on simultaneous proceedings of OA and SA in the matter of Transcore vs
Union of India decided on 29.11.06 :- Full text of this
judgment is available on this site vide link
http://www.drtsolutions.com/sc_judgment_on_drt,_securitisation,_transcore.htm
This judgment is referred to in the above Patna High Court Judgment. Past
several years, we have observed that majority of the advocates and the judges
are making mistake in interpreting this Transcore Judgment. Patna High Court has
supported our line of thinking.
◙
DRTS-01
Bombay High Court
Judgment on Condonation of Delay in the matter of Manilal Govindji Khona vs
Indian Bank decided on 29.08.12 :- Full text of this
judgment with our comments is available on this site vide link
www.drtsolutions.com/condonation_delay.htm
Important
portions of the judgment have been marked in Red. We have been opining past several
years that the matter of condonation of delay has to be permitted in the DRTs
despite several judgments of the High Courts. Now our contentions have been
supported by this Bombay High court judgment.
Defamation and Damages:-
We have
handled few cases of Defamation and consequent Damages. Recently one of the
promoter and owner of a newspaper was harassed by Govt. Deptt. He was also
defamed and his investigation proceedings were published in a newspaper. We have
commenced the legal action against the said Govt. Deptt. and the said newspaper.
The damages assessed are more than Rs 10,000 crores. This is going to be one of
the leading cases in our country.
Our Comments on Amendment to the Securitisation Act
:- Our comments are given on this web site on pages
Securitisation Act-Comments
and
SARFAESI Securitisation Securitization Actar SA
NPA
An Important Judgment of Supreme Court of India - Directive for Transparent
Working of DRTs:- citation and details are as
under:-
2013 STPL(Web)54SC, Union of India vs DRT Bar Association –
decided on 22.01.13
Extract
from Para 11 is reproduced below:-
“ . . . Article 227 of the Constitution stipulates that every High Court shall
have superintendence over all courts and tribunals throughout the territories
interrelation to which it exercises jurisdiction. This power of superintendence
also extends to the administrative functioning of these courts and tribunals [Shalini
Shyam Shetty & Anr. Vs. Rajendra Shankar Patil [(2010) 8 SCC 329]]. Hence, in
light of the above, we expect that all the High Courts shall keep a close watch
on the functioning of DRTs and DRAT, which fall within their respective
jurisdictions. The High Courts shall ensure a smooth, efficient and transparent
working of the said Tribunals. We are confident that through the timely and
appropriate superintendence of the High Courts, the Tribunals shall adhere to
the rigour of appropriate standards indispensable to the fair and efficient
administration of justice.” For further details please go through our 249th
Weekly Mail dated 15.02.13 vide web page
DRT Solutions Weekly Mail for Borrowers & Guarantors
Illegal Deposit of Auction Money - CMD, IFCI, its AGM
(Law) and Recovery Officer (DRT-1), Delhi sentenced to One Month Jail plus Rs.
3.5 lac and Rs. 1.5 lac penalty to be paid out of their pockets:-
The news items are contained in our special 202nd DRT Weekly Mail dated 21.03.12.
The complete order on Jail sentence by the Delhi High Court is contained vide
click
IFCI CMD, AGM(Law) & DRT
Recovery Officer ordered Jail One Month & Fine
This proves our contentions that the Chairman of the banks and financial
institutions must be impleaded as a necessary party for the wrong doings
committed by the banks. Further we must file damages and or counter-claims for
the said wrong doings. The pleadings should be perfect and case contested
perfectly on all dates.
Our DRT Weekly Mail No 200th dated 09.03.12 is
specially important as it gives History and Background of DRT Weekly Mails since 1st
Mail :-
It will be of tremendous use to everybody particularly those who are visiting this
site for the first time.
We
have no Branch or Authorised Persons except at Indore:-
Our weekly mails are free and those who desire to
get them directly may send their e-mail IDs. Any content of these weekly mail
may be reproduced without our permission provided the source of this web site
and DRT Legal Solutions are acknowledged. It is learnt that some persons are
reproducing extract of these mails in their own names which is not proper. We
have not authorised any such person. We neither have any branch outside Indore
or have any authorised person to represent or act on our behalf. The most
important part of our dealings is empowerment of our clients during the course
of litigation. We provide massive information to our clients. It is learnt that
some persons have started copying our pleadings but they are unable to provide
the finer aspects and the much needed after sales service.
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
Our Client wins in Securitisation Appeal against 4 Banks in DRT – amount
involved nearly Rs. 90 crores and a tooth & nail fight of 16 years
The latest in this case (as on 17.02.23 is that the said
Banks have lost their case in Appeal before DRAT Mumbai.
Entire Judgment reproduced vide link
DRT Orders in favour of Borrowers & Guarantors
(1)
The PO DRT Mumbai in his order dated
29.06.10 in respect of Securitisation Application allowed the
same asking the 4 respondent banks to redeliver possession of the properties
within 4 weeks.
(2)
This has been most historic legal fight in
DRTs for a period of nearly 4 years by law departments of 4 banks against
securitization notices dated 30.12.05 and 02.01.06 for Rs. 64.44 crores and
banking aspects of Representation & Objections, NPA,
Accounts,
Inspection of Documents etc.
(3)
Such consortium of 4 banks losing
Securitisation Appeal fighting tooth and nail for relatively large amount of
Rs. 90 crores is most significant .
(4)
The party came to us in 2006. We prepared
their damage suit for Rs. 1904 crores which was filed in May 2007. They have been
in touch with us practically every day. They worked hard in implementing our
philosophy of perfect pleadings and perfect trial on every date. At times
they had eloquent fight with their advocates and had to change them. They
attended DRT conference at Indore in May 2008. They spread our message to
their advocates and other suffering borrowers .
(5)
While on one hand, the said 4 banks have
lost their legal battle for recovery through the tool of Securitisation in
DRT, the party’s damage suit against the banks filed in 2007 is still
continuing wherein the banks are already losing heavily. The case has come
to ‘Striking of defence of the banks’ due to non-submission of documents for
inspection despite repeated court order .
(6)
This case is a solid proof that a
determined borrower can win against banks in DRT. It demolishes the myth
that the DRTs favour the banks .
(7)
Such fight proves the power of knowledge
of banking, industry, finance and law. Above all this affirms that in a
democratic country, citizens have adequate powers and protection against the
wrong doings of bueauracracy due to ‘Rule of Law’ being above all .
(8)
We appreciate the sincere and hard work
done by our client at every moment of time and they rightly deserve such
epoch making victory which will prove to be a mile stone in the history of
banking litigations in the country .
(9)
The party has sent following mail to us:-
From national flask ind. ltd.
To
ramkishan
ramkishan@drtsolutions.com & ramkishandrt ramkishandrt@gmail.com
Date Wed, Jun 30, 2010 at 6:01 PM
Subject MESSAGE
Kind Attn: Mr.Ramkishanji.
Dear Sir,
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,
3. other correspondence with the consortium bankers and ,
4. preparing the arguments,
We
once again thank you for your kind support .
Thanking you,
Yours faithfully,
Keto Diet Vegan with Intermittent Fasting - my personal experience at age of 79
years - status on 25.09.21
I was highly impressed by several YouTube videos of Dr. Eric Berg, DC
and Dr Nadir Ali. I also
studied Dr Berg's famous book 'The New Body Type Guide' At my age of 79 years, I
maintain very good health with height of 5' 7.5" and weight 52 kgs since
Sept '19
implemented 'Keto Diet with Intermittent Fasting, Eating Window 8 hours
and Fasting Window 16 hours. I was amazed by excellent results. There was all
round improvement in energy level, mental clarity, vision, sleep and freshness
throughout the day with no hunger and no craving. I am highly thankful to Dr. Berg for the pioneer work done
by him in explaining the fundamentals of good health. With passage of time, I
am posting my experience of the said Keto Diet in detail on my exclusive web
page vide link
Keto Diet
Vegan I.F.- Personal Experience Age 79 Yrs . I have also posted these facts
on my page on the facebook vide link
https://www.facebook.com/ram.kishan.777 This was also posted on my whatsapp
groups relating to Man Pasand Keto Club. There is tremendous response from
the visitors and members. Posted several videos of Dr Berg & others on Facebook and WhatsApp. These
deal with important aspects of Keto life style. I have also prepared several
videos on the Keto Diet and uploaded the same on the YouTube searchable with
phrases like 'Keto Ram Kishan' , 'Ram Kishan Keto' , and 'Keto Videos
Indore' etc.
Senior Citizens - Longevity
दीर्घायु
&
Health Problems -
I am 80 years young as on 01.01.2023 and my hobby is to maintain good health, rather becoming
younger day by day. Meditation daily half an hour in morning and half an hour in
evening along with Mrs is a must. Recently I have published few important videos
[ (1) दीर्घायु क्यों व कैसे (2) दीर्घायु उपयोगी चर्चा (3) दीर्घायु व घुटनों
की समस्या (4) दीर्घायु व वृध्दावस्था के लिए अमृत है कीटो डाइट]
on Facebook
and YouTube on the important topic of Longevity ie
दीर्घायु To reach to my the said videos, you may search ' Ram Kishan
Longevity' or रामकिशन दीर्घायु in Google
or YouTube. My profile link on facebook is
https://www.facebook.com/ram.kishan.777 My health reports as on 04.07.22 indicate that my fitness is
that of an young person of 16 years. I use the latest technology to study
fitness for Senior Citizens. If you are interested, you may ring me at my mobile
no 9691103689. Since 2019 Sept., I have adopted Keto Diet, for details, you may visit my
exclusive web page by clicking
Keto Diet
Vegan I.F.- Personal Experience Age 80 Yrs
I have posted several videos on Longevity on my facebook page of Ram Kishan as
well as on the YouTube. You may reach my these videos by searching 'Ram Kishan
Longevity'
This is purely a free social service without any commercial interest.
Laughter Yoga App - Contractual Violations and Fraud by Shashwat Jain
The latest position on this matter may be seen on my
exclusive webpage vide link
LY App - Contractual Violations by Shashwat Jain
Economic Times, Mumbai seeks and publishes views of Mr. Ram Kishan on DRTs
The Economic Times,
Mumbai in its news item 'Debt recovery tribunals see NPA surge due to slowdown'
at Page 5 of its issue dated 21st April '09 published the following views of Mr.
Ram Kishan based on an interview:-
"The meltdown in the economy will lead to
increased cases of NPAs" said DRT Consultant Ram Kishan" Also the current
process of debt recovery proceedings are old and hence inefficient. We need
better management of the court for speedy disposals" he added."
'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.
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.
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.
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.
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.
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.
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.
SC Judgment on
DRT, Securitisation, Transcore
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
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.
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.
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.
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.
Important
News
(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.
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 Tribunals have commenced its
operations in the country. 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.
'Man Pasand Longevity Club,
Indore' is India's unique club of its own kind -its part of our social service:-
There are two spheres viz. (1) Treatment of diseases and another (2) Creating
health. While lot of work has been done in the arena of (1) and it is well
known. It is highly essential also. The (2) is also known but effective measures
are not being taken by the common man. Hence as a social free service we have
started work in this area. The aim is 'not to fall sick' and keeping one hale
and hearty. I myself at the age of 75, I myself am slim and full of energy whole
day. Morning I get up at 4 AM, take bath and do yogic and other exercises. At 7
AM, myself and wife go to Nehru Park, take part in the Laughter Yoga Session
from 7:15 AM to 8AM. Then we have Dance for half and hour. I video shoot the
Laughter and Dance sessions, post the same on various WhatsApp groups and also
on facebook on my page of Ram Kisan. I have rarely fallen sick and rarely have
taken any medicine. Recently we have started this new club. I collect
information from net and submit the same to Dr Garima Airen, most active member
of our club. She presents the same during monthly sessions of the club. So far
we have conducted the sessions on topics like knee problems, eyes and glasses,
obesity, sugar etc.
'Man Pasand Laughter Yoga Club,
Indore' is India's first Guinness World Record Holder in the category of 'Largest
Laughter Yoga Class' :-
On 22.02.17, we had received the certificate from 'Guinness World Records' confirming that 'Man Pasand
Laughter Yoga Club, India is the 'Guinness World Record Holder' in the
category of 'Largest Laughter Yoga Class' with effect from 28.11.15. This is
first World Record for India in the field of Laughter Yoga. Its a great honor
for India as well as for Indore. Man Pasand LY Club, Ram Kishan and Dabang Dunia
feel proud to be associated for such historic achievement. How such a monumental
achievement was made is contained in our special web page vide link
Dr Kataria Indore
Visit - Plan, Progress & Record
First Android App in the World in the field of Laughter Yoga made by us
It is with pleasure we announce that we have released on
01.01.16, the world first Android App on 'Laughter Yoga' Its available
free on Google Play Store. Please visit the Google Play Store and search
'Laughter Yoga' Download and Install the same on your mobile or tablet.
This is the world first Android App on Laughter Yoga. IARC, the global
rating agency has rated this App for use by everyone. This App has been
designed to promote Laughter Yoga among common public for all age
group. Even experts and Laughter Loving persons may find it useful.
Kindly download the App and install it. Please visit the various pages.
We are eager to have your rating, reactions and suggestions so that we may
improve it further in the next version. We
shall be obliged and grateful if you refer this App to your family
members, relatives and friends so that we also have their ratings, reactions and
suggestions.
This App has been dedicated to Dr Madan
Kataria and Mrs Madhuri
Kataria for their
matchless work for health, happiness and peace of the human society.
Dr Madan Kataria, the world famous Laughter Guru visited Indore in November
2015 and set up a new Guinness World Record which is first for India in the
field of Laughter Yoga
Dr Madan Kataria visited Indore in November '15. He conducted 'Largest Laughter
Yoga Class' on 28th November 2015 setting a new Guinness World Record. This is
first World Record for India in the field of Laughter Yoga. Its a great honor
for India a well as for Indore. Man Pasand LY Club, Ram Kishan and Dabang Dunia
feel proud to be associated for such historic achievement. How such a monumental
achievement was made is contained in our special web page vide link
Dr Kataria Indore
Visit - Plan, Progress & Record
Transform India with Modi - DRT Solutions Suggestions:-
We appreciate the vigor and initiative taken by Mr Modi, our PM.
In response to his call through Local Circles of which there are more than one lac twelve thousand members, we have made 6 important suggestions for 'Judicial
and Legal Reforms' vide link
Transform India with
Modi-DRT Solutions Suggestions
These have been appreciated by the members.
Legal Reforms in Indian Judiciary - Need of the Hour, Management and Technology
in Indian Judiciary - Pragmatic Approach:-
Our detailed Article may be seen by clicking the link
Article by Ram Kishan on Management & Technology in Indian
Judiciary
This article has been sent to the Internet Resource in 'Transform India wituh Narendra Modi' part of Local Circles set up under the aegis of BJP. We have also
sent this article to Justice R.M. Lodha, Chief Justice of Supreme Court
of India.
Laughter Yoga is the Best Exercise for Overall Health Benefits:-
For details of Laughter Yoga, its Health Benefits and how to start a Laughter Yoga Club, please visit
our web page vide link
Laughter
Yoga by Ram Kishan, Indore
This page is a very good compilation of the material on Laughter Yoga. It gives
the real life experiences of members of our Laughter Yoga club. Our club at Man
Pasand Park, Indore, India is now on international map vide the blog 'A Laughter
Club Dream' written by Shri Jagat Singh Bisht, Laughter Professor, Laughter
University International, link for the blog being
http://www.laughteryoga.org/english/blog/blog_detail/833
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
MP
Bhumi Vikas Rules, 1984 - Extract for Flat Owners in Indore: -
Recently we studied the said Rules and prepared an useful extract for the flat
owners in Indore vide link
http://www.drtsolutions.com/MP-Bhumi-Vikas-Rules.htm
All those who want to purchase flats must study this extract.
-
Disclaimer:- We
have no branch or 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.
- Last
Modified:- Saturday 1st April
2023 (last updated) Monthly Release 324
Contact Information
- Telephones (India)
- Mobile - +91-969-1103689
LL - Off & Res -
+91-731-4049358
- Electronic mail
-
ramkishandrt@gmail.com
-
- Postal Address
- DRT Legal Solutions,
- 205, Morya Palace, Opposite Bansi Trade
Centre,
- 5/1, Diamond Colony, New Palasia,
- Indore-452001, India
- M - 9691103689
-
-
|
