Conference Updates - 11th March to 10th April '08

Focus Areas - Director's Personal Guarantee, Securitisation, DRT, Court Craft - Management & Technology

Important Note:- Particulars of the some of the the Participants from Ahmednagar, Bangalore, Chandigarh, Chennai, Dewas, Hyderabad, Indore, Ludhiana, Madurai, Mumbai, Pune, Raipur and Tirupati have been published and may be seen by clicking participants.htm

(1) Hotel Accommodation :- Details of some of the Hotels can be found by clicking Hotels at Indore - Details Please book your Hotel Accommodation directly. Cheaper hotels are also easily available.

(2) Registration details for the Conference are in para no (8) of 27.04.08 - update below.

(3) Participants should furnish through mail - (a) name (b) postal address (c) details of registration i.e. amount paid & mode (d) contact details i.e. phone nos (d) small write-up i.e. bio-data in brief (e) subject of interest (f) which of this information may be be published on this web site (g) which of this information may be provided to other participants (g) Any other information, question or suggestions.

(4) Dispatch of CDs/DVDs:- We have started getting feedback on the said CDs/DVDs. Next dispatch of CDs/DVDs will be taken up on 25.04.08. The participants who have not yet sent their particulars and postal address may please expedite.

(5) Difficulty in opening of Links this may be due to security settings on the browser, which may be reset or the links be pasted on the browser.

Legal Forum of India presents All India Conference
Indore, 3 - 4 May’08 hosted by drtsolutions.com

Saturday, the 3rd May '08, from 4 PM to 10:30 PM which will include Tea at 5 PM & 7:30 PM and Dinner at 9:30 PM

Welcome, Inauguration & Saraswati Vandana - Inaugural Address by Chief Guest Mr. BS Malik, Chandigarh, Advocate,

Keynote Speaker - Mr. B.K. Dubey, Advocate, Indore, Our Senior Attorney Associate.

Sunday, the 4th May '08, from 9 AM to 6 PM which will include breakfast at 9 AM, Lunch from 1 PM to 2 PM and High Tea at 4:30 PM

Important Topics of the Day :- Court Craft - Review, Discovery of Facts, Trial, Technology & Health

Industrial Policy, RBI Guidelines & Supreme Court Judgment and Question/Answer session

Keynote Speaker - Mr. B.S. Malik, Senior Advocate, Supreme Court of India, New Delhi/Chandigarh

(1) The 'Participants' Details', their postal address. questions and suggestions are still awaited from some participants, the same may please be expedited.

(2) Mr. Jeetendra, Bangalore has stated that the bank sanctions various limits such as Cash credit limit or LC limits, supply bill limits etc. and for such limits, the bank asks for margin which is often taken in form of fixed deposits, which in turn is debited in loan accounts such as cash credit or any other loan account. In such transaction, the bank should pay interest of FD which should be the same as that being charged by the bank in the respective CC or LC loan accounts. Mr. Jeetendra desires that this point may be discussed and or considered for filing PIL through proposed Legal Forum of India.

(3) The Registration amount for this Conference is Rs. 2500/- per participant which may be remitted by local cheque in your city or cash in ICICI Bank a/c no 004105005099 in the name of 'Ram Kishan Associates' If cash is being deposited, please inform the details through SMS or e-mail to link up the credit. As soon as cash or cheque credit appears in the account, we get immediate SMS from the bank and the party is informed by us by SMS and e-mail.

(4) Mr. Manish Verma, Raipur has made the following queries and observations:-

1) In the matter of unjust actions of the Bank, the Borrower has the resort to take the matter to The Ministry of Company Affairs at a stage when the matter has not gone to DRT and even after that. Points to consider are what gains the Borrower can expect from this.

2) We understand that your some of the clients have got stay from DRAT in case of pending damage claim against the Bank. Can these be treated as precedents applied for obtaining stay during DRT appeal stage itself?

3) Damage claim against the Bank is evolving as a tool for defense. We need to discuss the counter for the scenario where any judging officials in the Tribunal or Appellate have not taken seriously or ignored this tool and taken any action bypassing the pending Damage claim of the Borrower.

4) The Government has formed DRT for Banks. Can a PIL be lodged demanding for setting up of a parallel body for listening to Borrower's grievances and counter claims etc. The Banks shall be answerable to this body and clearance of the case from this body shall be necessary before precipitation of any action by the Bank. This shall be in view of Borrowers right as an equal partner to a contract and business dealing between the Bank and the Borrower as also the the Borrowers be treated as an entity who is as equal in the eyes of Law as are Banks. Since, the legislature has formed DRT for Banks surely the legislature can form a Tribunal for Borrowers.

(1) Mr. G. Sundararajan, Consultant, Madurai has sent an exciting success story in DRT won by Mr. Arun Murugan, Advocate, Madurai when the auction sale scheduled on today i.e. 09.04.08 was stayed by DRAT Chennai. The detailed mail received from them may be seen by clicking the link Success Stories of Our Guidance

(2) This is another success story. Mr. B.S. Malik, Chandigarh informed that in the matter of PNB vs BSM Ltd., the PO DRT Chandigarh stayed the auction to be conducted against the newspaper advertisement issued by the said bank. The arguments were conducted by Mr. Malik himself today i.e. 09.04.08, the main plea being that since there is no debt due on account of pending damage suit of Rs. 1825 crores against the alleged claim of Rs. 30 crores of the bank, no recovery action can be initiated till the debt due is judicially determined. Earlier the said bank also lost its appeal in High Court Chandigarh against the indigency order waiving the court fee in respect of the said damage suit.

(1) Mr. Himanshu Mehta, Mumbai informed that the bank submitted a regret letter before DRAT in form of an undertaking that they will not initiate any action for taking possession of the unit till their appeal is decided by DRT.

(2) Mr. Haresh Gandhi, Mumbai informed that despite orders of DRT dated 05.01.08 and several reminders, the bank was not giving full inspection of documents and hence they are pressing for striking out defence of the banks. He also informed that in another case, the bank has agreed to settle the dues in less than 3% i.e. in Rs. 10 lacs against the dues of more than Rs. 3 crores.

(3) Mr. Boparai, Chandigarh forwarded our mail regarding personal guarantee to his 20 friends and acquaintances out of which some have shown keen interest in the matter. This is how the news about the conference is spreading like wild fire in the country.

(4) Mr. Mahesh Kabra, Ahmednagar desires deliberations on Lenders' liability and need of enactments, Impact of simultaneous recovery actions under Securitisation Act and DRT or Co- operative Acts. Whether Securitisation Act is applicable to co-operative banks ? Role of Authorized Officer under Securitisation Act. Cost Benefit Analysis of Litigation, Impact of counter claims with facts and figures, OTS / Settlements, out of courts settlements, How to improve results?

(5) While we have published the 'Participants' Details and Contacts' vide link http://www.drtsolutions.com/participants.htm, we are continuously receiving such data and the same are being published. So far we have received data from Ahmednagar, Bangalore, Chandigarh, Indore, Madurai and Mumbai. These participants are Advocates, Industrialists, CAs and Engineer. Please send your particulars also so that the same is published as early as possible. This will help in improving interactions among participants.

(1) Some of the participants from Bangalore, Chandigarh, Indore and Mumbai have submitted their particulars, the same be seen by clicking participants.htm Please check up your particulars and if any change is required, the same be intimated. Others who have not given the said particulars, may mail the same at the earliest to enable us to publish. This will improve interactions among the participants.

(2)It is learnt that PO Madurai (an ex-bank official) is not disposing off the applications with due application of mind. The concerned defendant was advised to file review petitions and if the review petitions are not disposed off as per law, then apply for change in court to High Court. Justice is above all. We must exhaust all remedies before going to higher courts.

(3) Mr. Rajendra Seth, Mumbai is interested to know (a) whether ARCIL acting as Trustee in a assignment agreement with the bank is a financial institution within the meaning of DRT Act. (b) whether ARCIL acting as Trustee, not as Securitisation Company as such, can acquire financial assets from banks u/s 5 of the Securitisation Act. (c) whether pending final decision of supreme court, the leasehold land of industrial estate (Govt) be mortgaged and bank can sell those alleged mortgaged land in DRT recovery proceedings?

(1) Securitisation Act continues to be the hot topic. While we have devised immediate remedial measures in the court room but a section of participants are also working on legislative aspects. We have done important work on legislative aspects but response from the business and industrial community has been very poor vide our web page link http://www.drtsolutions.com/legal_forum.htm being not paid attention past 5 years. We wish to revive the activities in this direction and for this a new web site is being launched the URL being www.legalforum.in i.e 'Legal Forum of India' which will be discussed in the last session of this conference. This is a long drawn process and will take several years. Till such time, our present methodology is the only solution as it has been tested and tried successfully in number of cases.

(2) On account of pre-conference interest and interactions, the major portion of the conference will be spent on such matters which perhaps will come to the participants for the first time. The defendants and their advocates will be immensely benefited by such knowledge.

(3) The participants have been provided a proforma for furnishing information about themselves so that the same is published on this web site and thus with such information being available to all, they can interact among themselves during the stay at Indore. All are requested to mail the said particulars at the earliest.

(4) Mr. G.C. Garg, a renowned and senior banker based on his experience in DRTs suggested that either we should provide thorough guidance to the advocates or our own advocates should appear in DRTs so that the knowledge resources developed by us are implemented fully.

(1) The conference has generated lot of interest as may be seen from Pre-conference interactions through mails and web site. The composition of participants are (a) Some who are in touch with us since 2001 (b) Some who visited us at Indore (c) Some who visited us at Indore and attended Interactive session at Chennai (d) Some are our clients since 2001 (e) Some are advocates of our clients (f) Some who have been studying our web site and desire to discuss the matter (g) Some are businessmen, Industrialists (h) Some are advocates (i) even two lady advocates from Ludhiana are coming (j) an advocate with several persons are coming from Madurai (k) Even one advocate who has written a book on DRT and Securitisation Act (l) Some who are completely new to us and have been introduced out of our mails forwarded by someone i.e. range is quite wide and well spread over. The common factor is the sufferings either of their own or some one close to them.

(2) We have started receiving the particulars as required under Sl. No. (3) above. Those who have not yet submitted the same, they are requested to expedite so that the compilation is published on this web site for information of all the participants.

(3) Though we have received lot of questions and suggestions and accordingly we are moderating the contents and deliberations, still we request all to take an active role and submit the same without any hesitation. Our first approach is that under the existing system, what is the best practical solution? With such approach several of our clients have achieved sizable success and having encouraged with such success, they have spread the word and the result is the Conference and ever growing visits to our web site. We are always available for discussions on phone and personal meetings at Indore with prior appointment. Our goal is to empower the bank victims so that those may afford may fight the mighty banks and financial institutions in court of law. Such empowered fights will bring forth leading judgments which in turn will help those who can not afford such battles.

(4) Mr. Sundararajan while supporting the views of Mr. Devasahayam also proposed suitable amendment in the Securitisation Act.

(1) Mr. Devasahayam of Chennai has proposed that there should be widespread public movement against the draconian Securitisation Act and awareness building can bring about a change and force the Parliament to repeal or amend the said Act. Legal community throughout the country can play an important role in this. This should be the main agenda of the proposed Legal Forum.

(2) Mr. Himanshu Mehta sent a fax of front page of the newspaper DNA Mumbai inviting attention to the heading 'Banker's blackmail : pay up or you get blacklisted with Cibil' He desired that this matter be taken up during the conference.

(3) We have started receiving the information as per the Sl. No. (3) below the title. All are requested to expedite the same so that it is published on this website.

(1) The participants are requested to furnish the information through e-mail the information mentioned in sl. no. (3) above as early as possible.

(2) Some participants are traveling through train from far off places like Ludhiana and Madurai. Some have made arrangements for staying with their relatives or friends. Some are going to stay in the hotels of their choice. This is how they have cut down their expenditure for attending the conference to avail of the unique opportunity to have interactions with experts who are a very good source of knowledge as to how to practically fight the legal battle against the mighty banks and financial institutions with the powerful weapons of law and procedure of law. You will have opportunity to interact with the persons who achieved success in such battle. We welcome all types of participants who desire to have appropriate knowledge and expertise for the said legal battles in DRTs and or Civil Courts.

(1) Mr. Pravir Dugar, CA, Mumbai has given a very good suggestion. He has stated that please include the status of the registrations confirmed, with their name, address, contact details, a small write up on the participant etc. This will immensely help to accelerate development of contacts among the participants and make the session joyous and interesting. All the participants are requested to furnish these particulars. They may also confirm as to what information we may publish on the net.

(2) The Registration amount for this Conference is Rs. 2500/- per participant which may be remitted by local cheque in your city or cash in ICICI Bank a/c no 004105005099 in the name of 'Ram Kishan Associates' If cash is being deposited, please inform the details through SMS or e-mail to link up the credit. As soon as cash or cheque credit appears in the account, we get immediate SMS from the bank and the party is informed by us by SMS and e-mail.

(a) Not registered yet - they need to take immediate steps as per para no (2) of '30.03.08 - update' just below the program; (b) Not booked their journey to and fro Indore, either air or railways - please do so without further delay and intimate us your details of booking so that we know as to when you are arriving and departing. This will enable us to finalize our time schedule for various activities (c) Not booked their hotels - we have given the details of hotels, booking my please be done and we may be informed the exact place of staying in Indore. This will enable us to know as to location of different participants. (d) Not sent their postal address - we are unable to send them the CDs/DVDs and hence please mail us the current postal address; (e) Not sent their list of questions - this may be done now as the articles are being completed, if question are received in time without further delay, the answers may be incorporated (f) Not sent their suggestions on the conference as a whole - we need your suggestions so that we may incorporate the same. This will avoid short comings and deficiencies of the event as a whole for which so much trouble is being taken by the participants to spare their valuable time and resources.

(4) While some of the participants from Bangalore, Madurai, Mumbai, Ludhiana, Chandigarh and Indore have taken most of the steps and accordingly we are going ahead with according finishing touches to the Conference. The whole event is going to be highly useful to you provided you take active part in accordance with the time schedule otherwise the last minute rush will not only cause inconvenience to you but to us also. We want to devote more time to solving real practical problems, brain storming sessions and Interactions rather than consuming time and energy for the arrangements for travel and stay.

(5) We have received lot of suggestions and questions and the same are being taken care of. But still majority of participants are not actively involving themselves to take advantage of the conference. Will you please devote few minutes of your time today itself for the steps outline above in Sl. No. (1) above and complete all actions in one go?. Please help us to help yourself so that you gain maximum from this historic conference.

(1) The complete program is given below. If you desire any change, you may communicate. The list of questions may be sent at the earliest.

(2) Those who have not yet registered, are requested to expedite. We have received registration and or confirmation from Bangalore, Mumbai, Pune, Indore, Madurai, Ludhiana, Chandigarh, Chennai, Delhi, Raipur, Ranchi and Nagpur. All are requested to mail their current postal address so that CDs and DVDs may be dispatched to them. The said CDs are video records of Chennai and Indore Conference. After viewing the said CDs and or going through our web site, list of questions may be sent to us so that answers for the same are covered during this conference.

(3) The updates for 31.03.08 and earlier dates is given just under the proposed program below.

(4) While studying the web sites of the banks, Mr. Dubey, our Senior Attorney Associate has found that these web sites contain very useful facts for the defence of borrowers and guarantors. Detailed information on these aspects will be provided in due course of time.

(1) Mr. Pravir Dugar, CA of Mumbai has suggested a discussion on "Banks should NOT be allowed to create a security on any self occupied residential premises of the commercial borrower, (except for a housing loan) as family displacement is intruding on the fundamental rights of a family"

(2) Mr. Jeetendra Shah of Bangalore has stated that the RBI auditors should be made accountable and should be made responsible. He even suggested that a PIL be filed. Further he stated that when borrower asks for details from the bank, the same should be provided within 15 days or 1 month time.

(3) Mr. B.S. Malik has informed that he would be attending the conference along with his two advocate sons.

(4) The CDs and DVDs containing video recording of the 'Chennai Conference' and 'CA Conference at Indore' are being sent to those participants who have already registered and have given their postal address.

(5) The prospective Participants are requested to send their list of questions based on the said CDs and DVDs, contents of this web site and the articles published or to be published for the proposed Conference.

(6) Some of the visitors of our web site are enquiring about our offices in their cities. They are being replied that most of our activities are net based. Even at our Head Quarter i.e. Indore, all our attorney associates, stenos and account personals are networked. Complete data is stored and retrieved from a central server. This is necessary as most of our clients are outside Indore and are served through mails, web site, video conferencing and or phones. Physical interactions are exceptions rather than rule. We are not only using but constantly developing applications using latest knowledge and practices in management and technology. Accordingly the visitors and clients are asked to interact with us.

(1) The Venue for the Conference has been finalized as Hotel Sayaji Indore, (H/1, Scheme No 54, Vijay Nagar, Indore - 452010, Tele. - 0731-4006666) Website - http://www.sayajihotels.com/ The Conference will be held in the 'Topaz' Hall of the said Sayaji Hotel. The first session will commence from 5 PM on 3rd May '08 Saturday and may last up to 10:30 PM with one hour break for tea and dinner. The next day session i.e. 4th May '08 will commence from 8:30 AM to 6 PM with breaks for breakfast, lunch and high tea. The exact program, topics and speakers will be announced shortly.

(3) We have received the first article viz. 'Director's Personal Guarantee - A Void Agreement' This article has been written by Mr. N.K. Sharma, Dy. G.M. (Law), our Attorney Associate. He will speak on this topic in the last session on 4th May '08. The readers are requested to send their questions so that the said Article may be modified/updated accordingly if found necessary. The article may be read by clicking the link Article - Director's Personal Guarantee - A Void Agreement

(5) We have been updating this page from 11.03.08 onwards. Most of the prospective participants were daily informed through e-mails. Contents of these updates are revised from time to time. For the new persons, it is advised that they may please go through this page completely from entries under various updates from 11.03.08 onwards. The updates have been depending on the feedback and interactions through daily mails and discussions.

(6) We once again request the visitors of this page to expedite Registration if not already done, send their list of questions to be covered and answered during the conference and forward the mails to the needy persons i.e. litigants facing DRT or Civil Court litigations and their advocates. The emphasis during the conference will be on the practical aspects of court room battle, defence of borrowers and guarantors, feedback, results achieved, management and technology, questions and answers. The entire sessions will be video recorded and CDs will be sent to the participants. Hence the participants are requested to communicate their postal address through e-mails.

(1) Some participants desire to know our postal address for sending the cheques towards Registration Charges of Rs. 2500/ per participants. They need not send the cheques to us. They may deposit the same to any ICICI Bank branch in their city in ICICI Bank a/c no 004105005099 in the name of 'Ram Kishan Associates' The particulars of deposit may be intimated to us by e-mail to link up the credit. As regards our postal address the same is given at the bottom of Home Page of this web site.

(2) Some participants desire to know about the hotel details. As already informed through the updates, the hotel details i.e. phone nos, tariff, address, distance from the venue etc will be published on this web site shortly.

(3) We have received Registration/ confirmation from 37 persons from 11 different cities viz. Bangalore, Chandigarh, Chennai, Dewas, Indore, Ludhiana, Madurai, Mumbai, Pune, Raipur, and Ranchi. Some of them have interacted with us earlier at Indore. Some attended the Conference at Chennai on 21st and 22nd July '07. About 35% are advocates. There are several persons who are still finalizing their program and we expect the attendance will definitely cross 50. Thus it is going to be truly an All India Conference of really interested persons for a common cause. Many will put up their queries and questions. Some of them will give feedback about their success stories in litigation in DRTs or Civil Courts. Thus the conference is going to be brain storming sessions with lot of practical and hence valuable knowledge to the participants. We have finalized the venue in conference hall of one of the best hotels at Indore with modern audio-visual facilities. Indore has 100 metro taxies with GPS networked available on phone within 15 minutes at any location 24 hours. Hence the participants may stay in hotels of their choice without any problem for movement.

(4) In the DRT Act 1993 and the Securitisation Act, it is stipulated that the DRT and DRAT shall not be bound by CPC but shall be guided by the principles of natural justice and shall have powers to regulate their own procedures. Thus to achieve justice, these tribunals have much wider scope than the CPC as the scope of principles of natural justice is much wider than the CPC.

(5) The trials under the DRT Act and or Securitisation Act are intended to be full trials but expeditious and efficient compared with normal Civil Court trials. But on no count, the ultimate goal for attaining Justice can be sacrificed. While it is to fight the cases on behalf of Banks and FIs, the real battle is on behalf of the borrowers and guarantors. Wherever injustice has been done, there will be cause of action to justify the full trial. If there is no established procedure established by the DRTs and DRATs, the procedure prescribed under CPC will apply.

(6) In view of above, the first and foremost aspect is pleadings relating to WS and Counter-claim about which this web site deals in sufficient details. All other details about the Law of Torts and Law of Damages have also been given. The prospective participants are advised to study this web site completely, make a list of questions and forward the same by 31st March '08 so that the answers are incorporated in the articles being prepared by the eminent speakers. The said articles will be published by 10th April '08 so that the participants may take out the prints and study the same thoroughly well before attending the conference.

(8) Two book publishers, one from Indore and another from Ahmednagar to promote their publications on DRTs. The Indore publisher was told that we just don't need usual publications i.e. compilation of existing material but real analysis and practical guidance as to how to fight the cases of borrowers and guarantors in DRTs and Civil Courts. After examination of such material only we may think of promoting such publications. The Ahmednagar publication is a routine publication meant for both bank and borrowers. After examination of contents only we shall be in a position to comment whether such general publication would be useful at all.

(9) In the matter of one of our Mumbai clients, in respect of damage suit filed against the bank, the bank submitted an application to dismiss the said suit in respect of certain preliminary issues only. The said application of the bank was dismissed by the trial court.

(10) In Google search, for the search of word 'drt' our web site www.drtsolutions.com is on the top among 28,60,000 results globally. For any search for the phrases having the word 'drt', our web site is on top ranking.

On the basis of mails and queries received after the last update, the following is the summary. The details will be covered during the conference:-

(1) The litigants in DRTs and Civil Courts are worried about the long time being consumed in the judicial system. There are numerous reasons for the same, some are within control of the litigants and some are not. Much depends on the hard work and knowledge being put in by the litigant himself. We provide the missing knowledge much before every date. If the advocate also puts in adequate efforts, there is no reason, the proceedings on the relevant date will not achieve perfection. If there is any deficiency, that needs to be corrected by Review. This is how complete litigation is to be handled.

(2) Since the process is long drawn, highly time consuming as well as expensive, the litigants should carry out cost benefit analysis. This is certain that the banks and FIs will fight upto Supreme Court. Under such facts and circumstances, the litigant is to survive after meeting all expenses. Hence our advice is that he should ensure that on one hand our knowledge and experience is utilized, he should find out avenues for earnings. We plan complete strategy for our clients.

(3) In many cases, the pressure on banks and FIs is so much that they themselves come forward for settlements and that decision is to be taken by the litigants himself. In one of the cases of our clients reported on this web site home page, the bank settled at less than 5% of the total dues of Rs. 17 crores. This is now our recommended norm that no settlement should be more than 5%.

(4) The above is possible only when proper counter-claim or damage suit is filed against the lenders and the case is properly fought on every date. Many of our clients are now in much stronger position due to our guidance and advice than what they were prior to coming to us.

(5) Perfection on every date results in least costs and least time. Fewer matters will be required to approach for further processing like Review, Revision, Appeal to High Courts and Supreme Courts where perfect contest is enormously expensive. Also all the aspects of the said remedial or corrective steps like Review, Revision, Appeal and Transfer of Court must be thoroughly understood so that maximum emphasis should be on the original proceedings rather than the said remedial or corrective steps. We have done lot of work on these aspects and all our clients who are guided by our advice on every date are in much stronger position than before they came to us.

(6) Perfection by Advocates may not be possible as they are in cut-throat competition and lot of their time is wasted in the courts. Similarly you can not expect such perfection by Judges as they are terribly overloaded with every increasing pressures for quick disposal even at the cost of justice. It is only the competent litigants who should be foot-down to allow only perfect proceedings. It is more so in respect of borrowers due to adverse bias against them. In fact it is only after filing counter-claim or damages, the borrowers are in a better position to demand perfection as the delay does not affect them.

(7) It would be worthwhile to keep record of proceedings of each date as well as complete costing of the said date so that the Court is reminded that because of their mistakes why the litigants should spend their time and money on higher courts particularly when perfect work should have been done in the original proceedings itself.

(8) In view of above, the prospective participants must study this web site thoroughly well before coming to the conference. Prepare their list of questions and send to us on or before 31st March '08 so that the background papers being prepared for the conference by different speakers contain answers to the said questions and the final articles are published on or before 15th April '08.

(9) The legal counsel of Dr. Suresh has enquired about the legal sanctity of adding the officials on the side of applicants by the defendants in their counter-claim.

(10) Perhaps this is the first conference of its kind when so much prior preparation is being made by using the web technology on daily interactions.

(11) It is observed that the Ministry of Finance is calling the combined meeting of the POs and Chairperson of DRATs. Similarly the bank officials are meeting and discussing the matters with the POs and Chairperson of DRATs. This is highly against equity and justice. The banks and FIs are one of the contesting parties. The judiciary should not allow such meetings with only one of the contesting parties.

(12) Director's personal guarantee - A void agreement by law. It has been found that all the personal guarantee agreements being insisted and executed at the instance of the banks and FIs are all ab-initio void. This is against the letter and spirit of Companies Act 1956 and is also in violation of Contract Act. On such legal foundation, the said act of calling personal guarantees amounts to an offence under Section 166 of IPC.

(13) After knowing about the conference, one of the publishing house at Indore has approached us for guiding publication of books on DRTs, Defence of Borrowers etc.

(14) You are once again requested to spread the message to business, trade and industrial associations to locate suitable interested persons. We are targeting only those needy persons who can accomplish the above strategy by which only we shall get leading court judgments which alone will ultimately benefit the large numbers of others who can not fight with mighty organization of banks and FIs.

We have received certain queries after the last update. Our brief answers are as under. The details will be covered during the conference:-

(1) The enactment of 'Lenders' Liability Bill' be followed up till accomplished by the proposed 'Legal Forum of India'.

(2) We require the book 'The Advocate, his aims and aspirations' by Cecil Henry Walsh, printed at Pioneer Press, 2nd Edition (1916). It may be available in old libraries in District Courts or High Courts. We shall be grateful if a photocopy of the said book is sent to us.

(3) It is an illegal act if the bank encashes the LIC policies of the borrowers or guarantors during recovery proceedings.

(4) The matter regarding application of DRT Act or Securitisation Act to co-operative banks has been referred to higher bench in Supreme Court.

(5) The matter regarding amendment in law relating to NCLTs is still pending in Supreme Court. We shall appreciate if the present position is informed to us.

(6) All the clients and visitors are requested to send the copies of the orders of DRTs, DRATs, High Court and Supreme Court which they think will be useful to the persons facing litigations in DRTs or Civil Courts.

(7) Mr. Rajesh Jain, Ludhiana proposed that an Yahoo Group may be formed to have a common platform for interactions.

(8) Mr. Pravir Dugar, Mumbai termed the DRTs virtually as Bankers' POTA Courts where most of the judgments go in favour of the banks. The condition of 75% deposit amount in appeal to DRAT is not legally justified. Further the bank documents are also ab-initio defective and illegal. He has suggested some remedial measures.

(9) In order to achieve perfect results at every point of time, the facts need to be judicially determined, correct law be applied and correct conclusions be drawn. The leading Supreme Court judgment is AIR 1969 Supreme Court 1167, Swaranlata vs Harendra Kumar (Para 6, 10 and 13). This judgment must be studied thoroughly by the litigants and their advocates.

(10) The remedy of review is quite important. The clients and their advocates must study Sec. 114 and Order 47 of CPC 1908 (Civil Procedure Code). The important judgments to be studied are (i) 1993 Supp(4) Supreme Court Cases 595, S. Nagaraj & Othrs. vs State of Karnataka & Othrs (ii) AIR 2005 Supreme Court 595, Board of Control for Cricket vs Netaji Cricket Club (iii) AIR 1972 Mysore 44 (iv) AIR 1981 HP 1 (FB) (v) [2004(2) MPLJ 492 (FB) Commissioner of Sales Tax vs Hukumchand Mills]

We have received certain queries after the last update. Our brief answers are as under. The details will be covered during the conference:-

(1) We are first concentrating on the practical aspects of court craft in respect of DRT and Civil Courts particularly Securitisation Act, Counter-claim and Damage suits. You are therefore requested to forward your questions on these topics.

(2) If time permits, at the end of the last session, in the time slot of last half an hour, the conference will endorse the formation of 'Legal Forum of India' Some of the topics for the same has already been outlined vide link http://www.drtsolutions.com/legal_forum.htm These matters will be handled by filing PILs before the constitutional bench of High Courts.

(3) Many participants desire to call on us personally. We have fixed time on 5th May '08 9AM onwards on first come first served basis. 5th May '08 morning 9AM to 11AM has been reserved for the Bangalore client and his advocate.

(4) Justice Markandey Katju, sitting judge of Supreme Court of India has stated that the source of every power in India is its public and Public is the real Master and all the establishments including the courts are its servants. The said article of Justice Katju may be read by clicking http://www.drtsolutions.com/Article-Katju/Microsoft%20Word%20-%201-Katju%20on%20Contempt.pdf

(5) As per Sub Section (17)(a) of Section 2 of the CPC 1908, (Civil Procedure Code), every judge is a "public officer" i.e. those who are in service or pay of the Government. The word 'officer' itself means 'he who is commissioned for public duty' In British days, even when Collector or any ICS Officer was to write a letter to public, he was required to end the letter with the phrase 'Yours most obedient servant' Such phrase has conveniently been dropped when we attained freedom though such phrase must be used by all public servants including politicians and beauracrats. Are we living in a democratic setup when it is said that the democracy is that which is for the people, by the people and of the people? Have we implemented our Constitution which is said to be one of the best in the world?

(6) The Supreme Court of India has laid down that duty of every court is to do justice. Justice is a virtue which transcends all barriers. Neither the rules of procedure nor technicalities of law can stand in its way. Even the law bends before justice.

(7) Despite all above, we only desire that the trials in DRT and Civil Courts are perfectly as per law and procedures of law on every date. If the litigant and his advocate work hard in trial court or DRT keeping in view complete law and procedure of law on every date perfectly, then only we can achieve justice in the trial court or DRT. Many of our clients have achieved success in real cases. They will narrate their experiences in the forthcoming conference.

(8) The RTI Act is applicable only to Citizens of India and hence application should be made by the individuals and not by or on behalf of the firm or companies.

(9) Many participants have appreciated our practical utilization of web technology for the conference. It is highly efficient, least cost and highly effective. If time permits, at the end of the last session, we shall demonstrate use of various modern technologies for clients, advocates and judges. But preference for this conference is real practical solutions for the borrowers and guarantors. We wish to avoid topics of academic interest which are of no use to common litigants in existing DRTs and Civil Courts.

(10) We found that many of our clients are not keeping good health. The legal battle against the establishments like banks and FIs is long drawn, highly time consuming and expensive as the present environment is totally against the sick borrowers. The ray of light is supreme power of law and procedures of law but these can only be put to use when health aspects are paid topmost attention. Our best advice is to watch Swami Ramdev on Astha TV Channel from 5 AM to 7.30 AM daily and practice in toto whatever is prescribed by him. We have dedicated our this web site to him and created separate page, you may click the link http://www.drtsolutions.com/RamDev.htm to visit the said page.

(11) Kindly forward this update or mail to persons whom you think are facing or about to face actions under DRT Act or Securitisation Act.

(1) Mr. Prakash Rohra, Mumbai in a personal discussions held on 21.03.08 proposed that charging of higher interest beyond the contractual rate of interest or beyond that prescribed under RBI Guidelines, without the knowledge of borrower must be made a criminal offence. He is of the view that a PIL be filed so that the banks are given time of 3 months to rectify the said overcharging in all of their accounts and beyond the said period of 3 months such mistakes would be regarded as criminal offence.

(2) Mr. Jeetendra Shah, Bangalore desired time for personal discussions along with their advocate. The appointment for the same was given as 5th May '08 morning.

(3) Mr. Sundararjan, Madurai on this update sent an exhaustive mail outlining the importance of the proposed conference for the litigants as well as their advocates. His mail can be read by clicking here

(1) While we have received registrations for 27 participants from Madurai, Mumbai, Ludhiana, Chandigarh, Bangalore, Chennai, Raipur and Indore, all others are being reminded through e-mails. Depending on the numbers of the registrations, we shall finalize the venue and hence the visitors of this page are requested to expedite the registration as outlined in the para (7) under 19.03.08 - update below. The prospective participants are also requested to send their questions so that the speakers will incorporate the answers in their articles being prepared by them. Any other suggestions to improve the conference will be highly appreciated. The visitors are also requested to forward a copy of this page by mail to their friends and known persons who may be interested in the conference. We are thankful to everybody for the overwhelming response to this conference.

(2) Mr. T. Narasimhan, Adv. Chennai & Hyderabad (who single handedly arranged the entire Conference at Chennai on 21.07.07 and 22.07.07 and that too at his own personal expenses) has informed that he would be attending the Conference along with his elder brother Mr. Dorairaj, Adv. Tirupati & Hyderabad. He will be sending list of questions. We welcome their participation.

(3) Mr. Pravir Dugar has raised an important issue by questioning the essentiality of 3rd Party guarantees particularly when lenders have multiple securities and such guarantors have no role to play and hence has made a strong case for doing away with such practice. We shall take up such issue through 'Legal Forum of India', an NGO body under formation and for which a separate web site www.legalforum.in is under erection.

(4) Mr. N.K. Sharma, Indore has raised another important issue by stating that there is no provision of personal guarantees of directors in respect of private limited or limited companies. He is preparing a research note on this issue and will present the same during conference. We have decided to submit such application in a typical DRT case.

(5) Mr. Haresh Gandhi, Mumbai has proposed to speak before the conference about the success which he is getting in his DRT litigation (alleged claim of Rs. 65 crores against 4 banks) when all the 4 banks are in a pitiable condition in the DRT and Civil Court.

(6) Mr. Sundararajan, Madurai and his advocate Mr. Arun Murugan, Madurai have proposed to speak before the conference as to how they have impressed the PO. DRT by their arguments which have been greatly appreciated by the PO as well as the Advocates.

(7) Mr. S.K. Gupta, Indore has proposed to speak before the conference about the sufferings caused by the banks due to wrong doings of the bank.

(1) The tentative program for 3rd May '08 will be from 2 PM to 7 PM, The burning topic of Securitisation Act, all the aspects of Notice, Objections and Appeal in DRT will be covered with analysis of judgments, question answer session and experience of different participants. High Tea at 4.30 PM.

(2) The tentative program on 4th May '08 - Morning Session will be from 9 AM to 1 PM. The important topic of DRT - Defence of Borrowers & Guarantors, Counter-claim and Damage Suit etc will be covered with practical aspects of jurisdiction, court fee, cause of action, accounts, inspection of documents, cross-examination along with analysis of court judgments, question answer session and experience of different participants. Break Fast at 9 AM and Lunch at 1.30 PM.

(3) The tentative program for 4th May '08 - Afternoon Session will be from 2.30 PM to 7 PM. The important topic of Industrial Policy, related provisions under the Constitution of India and the Law laid down by the Supreme Court of India, RBI Guidelines, question answer session. Conclusion on the whole conference, Formation of Legal Forum of India, Plan for Next Conference and Vote of Thanks. High Tea at 4.30 PM.

(4) The venue will be in the Banquet Hall of a Hotel situated on or near RNT Marg, Indore which is within one KM of Railway Station and 5 KM of Airport, Indore. There are all types of Hotels near the venue. Exact details of the travel, hotels, stay and venue will be published on this web site by 31st March '08.

(5) The papers on above topics will appear on this web site progressively during 1st April to 10th April '08. The participants will be informed through e-mail so that they may take out print, study and communicate their questions.

(6) The entire proceedings of the Conference will be video recorded. The CDs will be dispatched to the participants on or before 15th May '08.

(7) The Registration amount for the above Program is Rs. 2500/- per participant which may be remitted on or before 31st March '08 by local cheque in your city or cash in ICICI Bank a/c no 004105005099 in the name of 'Ram Kishan Associates' If cash is being deposited, please inform the details through SMS or e-mail to link up the credit. As soon as cash or cheque credit appears in the account, we get immediate SMS from the bank and the party is informed by us by SMS and e-mail.

(8) Queries, if any may be made through e-mail. The answers will be sent through e-mail and important answers will also be published.

(9) The proposed conference is going to provide gold mine of practical information to the DRT litigants and their advocates. You may spread this message to your friends, trade, business and industrial associations but the participants should be really interested persons who may study the papers in advance, raise questions and interact effectively.

Mr. T. Narasimhan, Advocate, Chennai & Hyderabad, who (single handedly and on his own expenses) arranged the complete Chennai Conference on 21st and 22nd July '07 has made certain queries about the proposed conference. He has been replied as under:-

(2) The details of the hotels, address, phone nos, tariff etc. The participants will make their own arrangements for stay.

(3) The map for the venue and approach roads etc. The participants will reach the spot on their own. Indore has easy availability of auto rikshas as well as metro taxies having mobile phone contacts. Such details and contact nos will be published.

(4) The complete program for 3rd May (After Noon), Saturday and 4th May Sunday

(5) The papers which will be presented by eminent speakers in the conference. The participant will arrange their own prints.

We are constantly checking our web site visitors' report using 'Google Analytics' and as result we find that there have been visitors from Delhi, Mumbai, Pune, Nagpur, Hyderabad, Bangalore, Chennai, Cochin and 3 US cities apart from Indore. Thus there has been very good response to the news of the proposed conference from various parts of the country. The visitors are requested to forward our e-mails to other known persons who may be interested in the said conference. If we receive positive response from such persons, we shall include their names in our regular mailing list.

We received a valuable suggestion from Mr. Devsahayam of Chennai that "The topics are appropriate and topical. My suggestion is that papers and case studies may be received from experts / speakers and circulated before the conference so that meaningful and serious interaction could take place during the conference." Accordingly we have informed Mr. Devsahayam as under:-

(1) The speakers have already started working on these topics. As soon as their papers are ready, the same will be published on the web site. The participants will be informed so that they themselves will take out the prints and frame questions. The questions will be fed back to the speakers and if necessary the papers will be updated and modified.

(3) Participants themselves will take out the prints from the final papers published on the site. By the time we meet in the conference, the participants have already studied the subject so that maximum time is spent on interactions.

(4) We make maximum use of modern technology and management techniques resulting into least cost and maximum use of time. The legacy model of information being stored and moved on paper is highly inefficient, time consuming and expensive. Such reform and transformation is required everywhere whether working in a office, conference or even in court room,. This is exactly what we have demonstrated before District Judge, Indore for the first time in India on 10.10.07. You may study separate page on our web site vide link http://www.drtsolutions.com/courtech.htm

(5) As already informed the proceedings of entire conference will be video recorded and CDs will be mailed to the participants and interested persons for record, recall, review or subsequent interactions with the speakers. Such information build-up enriches our web site as it is updated constantly as soon as we are apprised of any such useful information and or court judgments etc.

Mr. P. Ravindran, Hon. Secretary General of 'All India Micro Agro Rural & Small Industries Association, Chennai has sought information about the proposed Conference. The details, aims and objectives of the said Conference have been furnished to him.

The following topics with practical aspects will be covered by eminent speakers. The deliberations will be video recorded and CDs will be sent to the participants.

(1) How to handle the proceedings in DRTs and Civil Courts for a winning strategy?

(2) How to face the notice under Securitisation Act and conduct appeal to ensure justice?

(3) Analysis of Important Supreme Court Judgments.

(4) How to prepare for better technology in Court Room?

(5) Important aspects of counter-claim and damage suits.

(6) How to face and launch criminal action?

(7) Experience of some of our clients who achieved success in their DRT or Civil Court litigations due to our guidance and advice.

(8) Question and answer session on each of above topics.

(9) Tele-conferencing session for questions and answers.

(10) Formation of 'Legal Forum of India', aims and objectives.

(11) Discussion over the issue of practical difficulties being faced in the scheme of implementation of Securitisation Act.

(12) Questioning the constitutional validity of Securitisation Act.

(13) Company Law matters and Arbitration

(14) Plan for next conference.

Note:- We welcome suggestions, any change in topics or inclusion of new topics, if any.

Mr. Rajesh Jain of Ludhiana suggested that there should be a session for tele-conferencing which we readily agreed. He also informed that he and his advocate Ms. Jyoti Sareen may also attend the conference.

There is tremendous response to the proposed conference. Topping the list is contingent from Madurai from where a team of 6 persons are planning to attend. This has been due to efforts of Mr. Arun Murugan, Advocate and Mr. Sundararajan, one of our most dynamic clients. Mr. Arun and Mr. Sundararajan have visited Indore twice and had detailed discussions for days together. Mr. Arun also attended the conference at Chennai on 21st and 22nd July '07. He has been in constant touch with us and with our guidance and advice have achieved a very good name and success in DRT Madurai. His arguments in DRTs have been appreciated even by the senior advocates as well as the PO of the DRT. We have asked Mr. Arun to send us brief on cases of his participants, questions to be answered etc. so that full attention is paid to those persons.

We are finalizing the list of topics to be covered. The visitors to this page are requested to e-mail their suggestions. Our aim is to concentrate on practical issues, solutions to the problems being faced in DRTs and Civil courts. The conference has to prove a very useful event packed with real knowledge of practical utility to the participants.

We request the visitors of this page to discuss the above among their friends so that message is spread far and wide among industrial and business community.