4.         preparing the arguments,    

We once again thank you for your kind support.

Thanking you,

Yours faithfully,

HARESH GANDHI

(2) Cheating, Fraud and Perjury by Officers of Standard Chartered Bank in DRT - Assignment of Debt by State Bank of India held illegal

Following mail received from ’Corruption Reporter’ is self explanatory:- 

Corruption Reporter corruption-reporter@hotmail.com

To  ramkishan@drtsolutions.com  

Cc ramkishandrt@gmail.com  

Date Wed, Jun 30, 2010 at 7:04 PM

Subject Fraud in DRT by SCB 

Sub:  Cheating, Fraud and Perjury by the Officers of Standard Chartered Bank in Debts Recovery Tribunal 

This is to report to all the Presiding Officers and Recovery Officers of DRT in India that Standard Chartered Bank(SCB) is purchasing debts from different Nationalized Banks all over India and substituting themselves in place of original certificate holders by fraudulently declaring themselves that “Standard Chartered Bank has obtained a certificate of Registration as a Securitization and Assets Reconstruction Company from the Reserve Bank of India, pursuant to Section 3 of the SARFAESI Act” and this way cheating with the Govt. revenue in hundreds of crores of rupees by false declaration of SARFAESI Act and thus paying stamp duty at maximum cap of Rs. One lac wherein the total assets value purchased are in thousands of crores of rupees.   

Assignment Deed dated 29.03.2006 based on which they purchased many accounts from State Bank of India, New Delhi in which the following frauds were detected by DRT-I, New Delhi ( Copy of Assignment Deed dated 29.03.2006 attached) 

In the Assignment Deed dated 29.03.2006, they have declared in Para 5(a) that “Standard Chartered Bank has obtained a certificate of Registration as a Securitization and Assets Reconstruction Company from the Reserve Bank of India, pursuant to Section 3 of the SARFAESI Act”. This fraud came to the notice of DRT-I, Delhi after 4 years when one of the borrowers of SBI highlighted this fraud after receiving reply from RBI under RTI Act that SCB has not been granted registration under Section 3 of the SARFAESI Act”  Copy of RBI reply attached. 

Signatures of Alternative Investment Associate Director, who is the executor of Assignment Deed on behalf of SCB namely Mr. Sarit Chopra are signed in capital letter, which he never used during the course of his working tenure in the Bank. Such type of signatures in capital letter “SARIT” is never being used by such a high positioned senior Bank officer. 

In the front page of the Assignment Deed it is noticed that although Mr. Sarit Chopra has signed on each page as executor of the Assignment Deed but the photo affixed on the front page of Assignment Deed is of some other person namely Mr. CNN Unni. 

DRT-I, Delhi has taken this perjury very seriously and passed an order against the Standard Chartered Bank and its officers (Copy of order of DRT-I, Delhi dated 19.05.2010 attached) 

CORRUPTION REPORTER

Email: corruption-reporter@hotmail.com

(3) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(4) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

We have started receiving lot of queries on the said Conference. We are trying our best to chalk out the program in such a manner so that the Conference is proved to be a real source of practical knowledge to the litigant borrowers, guarantors and their advocates. Your queries, suggestions and publicity about the said Conference will a great help to the cause of hapless bank victims.

DRT Solutions Weekly Mail – 111th Issue dated 25th June ’10

All Weekly mails right from 1^st Issue to latest, click links below:-   

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Recently few of our clients who received notice under Sec 13(2) of the Securitisation Act expressed their apprehension that the bankers were intending to take physical possession of their secured assets. Our associate Mr. B.K. Dubey, Senior Advocate has his following opinion:-

(1)        As per provisions of Section 13(3A), the bank is duty bound to decide the Representation and objections with due application of mind and to communicate the same with reasons thereof, within a period of one week from the date of receipt of the said Representation and Objections.

(2)        Normally the bank do not submit proper replies within seven days.. In that eventuality the banks commit violations of the law under which they have furthered their  actions against the borrower. Hence the same become liable to be raised before the DRT, by raising grievances in an application prescribed under section 17 of the Act.

(3)        The borrower is threatened by the bank officials to take possession of the secured assets. Such threats are much more in respect of residential properties which can be sold easily. In fact there is nexus between the bank officials, recovery agencies, valuerss and property dealers about which we have repeatedly highlighted in the earlier issues of the weekly mails.

(4)        Since the borrower has a legal right to get the actions of the bank adjudicated before the Debts Recovery Tribunal u/s 17 of the Act and till such judicial determination of the disputes between the Bank and the Borrower has been completed, there cannot be any transfer or sale of assets in favour of anybody except in the power and possession of the borrower.

(5)        The provisions for taking out physical possession comes only after sale and at the time of delivering the possession to the successful buyer. Hence, there is no need of any physical possession at the preliminary stage of 13(4). Any action for taking physical possession prior to judicial determination u/s 17 of the Act, would be an illegal, arbitrary action, closing the opportunity of the borrower for redressal of grievances lawfully under section 17 of the Act,

(6)        In many cases on account of wrong doings of the bank, the borrower has suffers huge loss/ damages, which are more than the alleged claim of the bank and such claim vis-à-vis the loss and damages suffered by the borrower has to be adjudicated by the Debts Recovery Tribunal under Section 17 of the Act, 2002. Therefore, there is no debt due and until determination of any debt, all the actions of the bank are violative of law and hence the said notice issued is rendered non-maintainable and void ab-initio.

(7)        As per provisions of Section 13(13), the borrower is statutorily bound to not to transfer the secured assets by way of sale, lease or otherwise (other than in the ordinary course of his business), without prior written consent of the secured creditor. Thus, there is no threat to the assets and they remain intact till judicial determination between the parties to the contract.

(8)        The legal rights of the borrower can not be taken away at the instance of the bank officers. They are not authorized to make any attempt for taking physical possession either by themselves with muscle power, or by making an application to the DM/CJM/CMM or equivalent authority, under the garb of provisions of Section 14 of the Act, prior to judicial determination of the disputes by the Debts Recovery Tribunal under the provisions of Section 17.

Our associate Mr. N.K. Sharma, ex-GM Law has made a reference to the following news item:-

India to Cut Average Time for Courts to Rule on Cases by 80%

-June 23, 2010, 2:32 PM EDT

http://www.businessweek.com/news/2010-06-23/india-to-cut-average-time-for-courts-to-rule-on-cases-by-80-.html

India plans to cut the average time taken by the nation’s courts to hear cases by 80 percent by reducing the number of lawsuits filed by government agencies.

The government plans to trim the time taken for courts to hear cases to three years from 15 years, the Press Information Bureau said in a statement yesterday. It will create a new department that will review government cases before moving court and increase pay for lawyers involved in its cases, according to the statement.

Expediting legal cases may help rebuild investor confidence after India slipped to 41st place, behind Mongolia, among the 183 nations ranked for protecting investors in the World Bank’s 2010 “Doing Business Report.” There were 30.8 million cases pending in Indian courts on March 2009, according to the website of the Supreme Court of India. Government agencies accounted for about 70 percent of the cases, the Times of India newspaper reported yesterday.

The government “must cease to be a compulsive litigant,” Minister for Law and Justice Veerappa Moily said in the statement. “While Government cannot pay fees which private litigants are in a position to pay, the fees payable to government lawyers will be suitably revised to make it remunerative.”

The National Litigation Policy, unveiled yesterday by the government, also aims to restrict the grounds for appeals and adjournments, as well as increase the government’s use of alternative dispute resolution mechanisms such as arbitration.

Our Opinion

Ultimately the Govt has resort to the Management Principles to tackle the menace of huge pendency in the Indian Court. Since the Govt itself is the biggest litigant i.e. nearly 70% cases pertain to govt and statutory bodies and the attitude of the govt legal people is to continue to fight upto the highest court. On one hand the Govt fights using the public money against the public, the public is left to fight using its own money and time. As early as 1957, the law ministers resolved to minimize the govt litigations followed by criticism by the Supreme Court in 1971, 1976 and 2009 but none bothered. Now there is little realization.

Until and unless, the entire judicial machinery is studied and corrected by Management and Technological approach with a honest and sincere approach including continuous and periodical training of judges and advocates with a view to render real service to the public, significant results can not be achieved.   

(3) Appropriate advice for all daughters..........

And some present day mothers too!!!!

Muhammad Ali's advice to his Daughter :

The following incident took place when Muhammad Ali's daughters arrived at his home wearing clothes that were not modest. Here is the story as told by one of his daughters:

“ When we finally arrived, the chauffeur escorted my younger sister, Laila, and me up to my father's suite. As usual, he was hiding behind the door waiting to scare us. We exchanged many hugs and kisses as we could possibly give in one day.

My father took a good look at us. Then he sat me down on his lap and said something that I will never forget. He looked me straight in the eyes and said, "Hana, everything that God made valuable in the world is covered and hard to get to. Where do you find diamonds? Deep down in the ground, covered and protected. Where do you find pearls? Deep down at the bottom of the ocean, covered up and protected in a beautiful shell. Where do you find gold? Way down in the mine, covered over with layers and layers of rock. You've got to work hard  to get to them."

He looked at me with serious eyes. "Your body is sacred. You're far more precious than diamonds and pearls, and you should be covered too."

(4) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(5) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

We have started receiving lot of queries on the said Conference. We are trying our best to chalk out the program in such a manner so that the Conference is proved to be a real source of practical knowledge to the litigant borrowers, guarantors and their advocates. Your queries, suggestions and publicity about the said Conference will a great help to the cause of hapless bank victims.

DRT Solutions Weekly Mail – 110th Issue dated 18th June ’10

All Weekly mails right from 1^st Issue to latest, click links below:-   

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(1) If ‘No Debt Due’, No Liability is incurred by the Guarantor

If ‘No Debt Due’, No Liability Is Incurred By The Guarantor

Essential Feature Of Guarantee-Recoverable Debt Necessary: The purpose of a guarantee being to secure the repayment of a debt, the existence of a recoverable debt is necessary. It is of the essence of a guarantee that there should be someone liable as a principal debtor and the surety undertakes to be liable on his default. If there is no principal debt, there can be no valid guarantee. A contract of guarantee is a tripartite agreement which contemplates the principal debtor, the creditor and the surety. This was so held by the House of Lords in the Scottish case of Swan v. Bank of Scotland {(1836) 10 Bligh NS 627} decided as early as 1836.

            ‘The payment of the overdraft of  a banker’s customer was guaranteed by the defendant. The overdrafts were contrary to a statute, which not only imposed penalty upon the parties to such drafts but also made them void. The customer having defaulted, the surety was sued for the loss.’ But he was held not liable. The court said that “If there is nothing due, no balance, the obligation to make that nothing good amounts itself to nothing. If no debt is due, if the banker is forbidden from having any claim against his customer, there is no liability incurred by the co-obligers.” [Swan v. Bank of Scotland {(1836) 10 Bligh NS 627 per Lord Brougham; See also Lima Leitao & Co v. Union of India, AIR 1968 Goa 29; Agencia National v. Chowgule & Cia, AIR 1967 Goa 88}]

(2) Nation wide Bank Scandal – Misuse of Securitisation Act – disposal of securities at throw away prices – writ in the Supreme Court

‘Dear Sir,

        As you know that loans are sanctioned by banks only after about 30% margin & mortgage of properties at market prices accepted by Banks. It is also a fact that there is inflation per Government records every year, so that prices of mortgaged properties enhance substantially. How can there be NPA, if mortgaged properties are sold without allowing sellers to hide unaccounted moneys?

        It is your knowledge that properties sold in official way by Banks with assistance of recovery officers are in 99.99% cases per public opinion at extremely distress sales (with help of expert so called Valuers, who allow sales of mortgaged properties at throw away price) and that advocates of Banks and officers of Bank now have manipulated to have air-conditioned flat offices and residences, when advocates gets just a few thousands for entire proceedings in DRT /DRAT & officers have salary of only a few thousand.

       Do you know that NPA are about Rs. 1,00,000 crores per Ex G.M. RBI  but I propose to reduced NPA to nil, if the said mortgaged properties are allowed for investing unaccounted moneys with due safety & security by Union of India, also transfer properties to purchasers (depositing unaccounted moneys) at prices per gantry (the declared price of land per gazette) by State Government)? Do you feel that Borrowers shall get 100% or more market price by moving DRT /DRAT after Union of India approves such sales by unaccounted moneys? Do you have spontaneous alternative suggestion to serve nation spiritually?’

Our Views:-

During ‘DRT Conference’ at Indore in May ’08, it was voiced that there is a nation wide scandal by the bank officials acting in collusion with the Valuers, Recovery Officers, Advocates and Property Dealers to spot out securities. Misusing the provisions of the Securitisation Act, they chart out plans to dispose off the properties at throw away prices with the intention of distributing the booties among themselves. We helped our clients to include the said scandal in their Appeal under Sec 17 by impleading all the agencies and questioning the valuation. As a result the auction/sale was stayed/stopped. Even the properties sold out were restored with damages. The said scandal is still going on.

(3) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(4) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

DRT Solutions Weekly Mail – 109th Issue dated 11^th June ’10

All Weekly mails right from 1^st Issue to latest, click links below:-   

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(1) Importance of Review – Revelation by Justice Ahmadi,  Former Chief Justice Supreme Court of India

In the matter of Bhopal Verdict, vide news item page 2 of the ET Mumbai issue dated 9^th June, Justice AM Ahmedi former CJI who delivered verdict in 1996 made an important statement that ‘If I have committed any mistake with the judgment, there was ample time for the CBI to get it reviewed.’ Our observations are as under:-

(1)    such statement shows importance of ‘Review’ as a remedy to correct errors and mistakes in the Judgments.

(2)    We have been emphasizing use of such important remedy since several years and in fact we won a case using this tool in 1997.

(3)    The importance of ‘Review’ has assumed highest ranking under Indian Judicial System for the simple reasons that the Judges are heavily overloaded and hence practically in all the judgments there are mistakes and errors. Even the adjudication of Review Petition will have such errors and mistakes for which we have emphasized use of Sec 151 of CPC.

(4)    The tool of ‘Review’ may also be used in criminal cases.

(5)    The above is all the more important in DRTs where the conditional legislation with reference to time makes the whole trial amenable to numerous errors and mistakes. That is why our view is that if normal civil suit takes 15 to 20 years, the DRT trial should take 30 to 40 years. It is needless to mention that use of counter-claim or damage suit becomes highly essential for such an ancient system for which we have done least to improve upon except creating a Constitution but leaving the court, advocates and judges as they were in British days of Police Raj.  Justice Krishna Iyer is right when he said that our judicial system is 200 years old.

(2) Chairman of a Bank is a necessary Party in DRT Litigations – Bhopal Case is an example

In the matter of Bhopal case, Keshub Mahindra, non-executive Chairman of Union Carbide, India has been sentenced for two years to jail vide page 1 of the ET Mumbai issue dated 8^th June. Our views are as under:-

(1)    We have been impleading the Chairman of the bank in the WS and Counter-claim or Damage suit of our clients in all bank cased prepared by us since 1994.

(2)    We have been inviting attention to several RBI Guidelines issued since 1976 which lay down special duties and responsibilities of the Chairman of the banks.

(3)    In view of above all the pleadings in the defence of borrowers and guarantors must include the Chairman of the bank. If it has not been done, suitable amendment must be initiated at any stage.

(3) Absence of Cash Reserve is root cause of many problems

Many parties approach us when their financial condition is extremely hopeless. We advice them as under:-

(1)    First all out efforts should be made to create a stage in the litigation so that time will be available. There are many technical tools to achieve that.

(2)    As soon as such time is available, all out efforts should be made to generate wealth. As soon as wealth is generate, cash reserve must be created first.

(3)    When the bank has having CRR (Cash Reserve Ratio) of 40%, why the borrower should not have such reserve and he is required to have much more as the bank are supported by the Govt whereas there is no such support for the borrowers and guarantors.

(4)    In vehicles we have reserve of the fuel, we have spare wheels. In human body there are reserves of food and water. Then why should we have not financial reserves in our day to day life.

(5)    Absence of Reserve is the root cause of many problems.

(4) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(5) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

We have started receiving lot of queries on the said Conference. We are trying our best to chalk out the program in such a manner so that the Conference is proved to be a real source of practical knowledge to the litigant borrowers, guarantors and their advocates. Your queries, suggestions and publicity about the said Conference will a great help to the cause of hapless bank victims.

DRT Solutions Weekly Mail – 108th Issue dated 4^th June ’10

All Weekly mails right from 1^st Issue to latest, click links below:-   

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The above facts and circumstances were publicized by our client in prominent daily news papers. The said  news paper publication was as under (names of the client, bank and other details have been altered due to obvious reasons):-

“P U B L I C   N O T I C E

ABC & Co Limited

1.       That ABC & Co Ltd has filed suit for loss and damages for Rs.450 Crores (Rupees Four hundred Fifty crores) against XYZ Bank / Stressed Asset Management Branch, for deliberate damaging acts, willful violation of statutory law contained in RBI guidelines, breach of statutory duties and other wrong doings etc. due to which the company has suffered.  The Civil suit No. 510 dated 12.04.2010 is now pending for adjudication before Hon’ble Court of the Civil Judge (Senior Division).  Since the claim amount of the company is much higher then the amount claimed by the bank, there is no debt due from the company till the said damage suit is finally adjudicated by the legal appropriate forum.

2. Further, the Hon’ble Debt Recovery Appellate Tribunal, on dated 11.05.2010 was pleased to set aside the order of Debt Recovery Tribunal, and has directed cross examination of bank officials namely Mr. Gopal Das and Mr. Narayan for ascertainment of facts and crystallization of dues if at all.  The cross examination is in progress after which arguments will begin.  Therefore, there is no recovery order existing against the company as on date rather the Company is hopeful of getting substantial amount from the bank on account of its said damage suit.   This information is issued in public interest including for those having interest in the company.

For and on behalf of ABC & Co  Ltd

Sd/

Authorised Officer

Place, 21^st  May 2010

(2) Cross examination of Bank Officials in DRTs

Right To Shelter Is A Fundamental Right

1. Hon’ble Supreme Court in Ahmedabad Municipal Corporation Vs. Nawab Khan Gulab Khan & Ors (AIR 1997 SC 152) held that “The right to life  enshrined   under  Article 21 has been interpreted by this Court  to include meaningful right  to life and  not  merely  animal  existence  as  elaborated  in several judgments of this Court including Hawkers case, Olga Tellies case and the latest Chameli Singh's case and host of other decisions which need  no reiteration.  Suffice it  to state that  right to  life would  include right to live with human dignity. As held earlier, right to residence is one of the minimal human rights as fundamental right.”

2.       As per Article 21 of the Constitution the deprivation of right to life must be consistent with the  procedure established by law. However, on the contrary, as provided in clause (a) of sub-section (4) of Section 13 of the Securitisation Act the secured creditor may realise the secured assets, including a self occupied residential house, by way of lease, assignment or sale by a common course of action and there is no special procedure established by the Securitisation Act to take possession and sale of a self occupied residential house. This is in gross violation of right to residence as fundamental right of the individual Director and/or Guarantor of the borrower company. Recently, in State Of West Bengal & Ors. v. The Committee For Protection Of Democratic Rights, West Bengal & Ors. {(2010) 3 SCC 571} a constitution bench of Supreme Court has held that the fundamental rights, enshrined in Part III of the Constitution, are inherent and cannot be extinguished by any Constitutional or Statutory provision. Any law that abrogates or abridges such rights would be violative of the basic structure doctrine. Consequently, the Securitisation Act is violative of the basic structure doctrine.

(4) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(5) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

We have started receiving lot of queries on the said Conference. We are trying our best to chalk out the program in such a manner so that the Conference is proved to be a real source of practical knowledge to the litigant borrowers, guarantors and their advocates. Your queries, suggestions and publicity about the said Conference will a great help to the cause of hapless bank victims.

DRT Solutions Weekly Mail – 107th Issue dated 28th May ’10

All Weekly mails right from 1^st Issue to latest, click links below:-   

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(1) Cancellation of Auction Sale by Bank – Victory for our Bangalore client

(2) CBI Report tarnishes the PSU Banks on account of increasing quantum of bank frauds

CBI report tarnishes PSU banks
By Sarbajeet K Sen May 23 2010 , New Delhi

Agency says lenders even collude with wilful defaulters
A note prepared by the Central Bureau of Investigation (CBI) has thrown light on how public sector banks compromise on frauds. Not only have some of the banks made compromise settlements with ‘wilful’ defaulters in clear violation of guidelines but, more surprisingly, even hired the services of some of them.

The note says some instances of fraudsters rendering consultancy services to banks on fraud-related matters have been reported.

Worse, compromise settlements with defaulters have often been for far lower amounts than the value of collateral pledged with a bank. Settlements have been reached with the same defaulter several times, the note says, hinting at collusion between bankers and fraudsters.

The note was prepared for discussion at a recent high-level meeting of bankers.

Bankers who attended the meeting, however, declined to comment.

The May 12 meeting, chaired by central vigilance commissioner (CVC) Pratyush Sinha, was attended by CBI director Ashwini Kumar and heads of some public sector banks, including Union Bank, Bank of Baroda, Indian Bank, Allahabad Bank and Canara Bank.

According to the note, banks also resort to compromise settlements to recover a part of the dues to minimise losses on account of bad debts. Such lapses eventually lead to the banks taking a greater hit than warranted.

Barring Punjab & Sind Bank, all public sector banks are listed on the stock exchange and shareholders thus have large interest in their finances.

“Banks tend to look at their own interest and not at other banks or the banking industry as a whole,” the note says, underlining the need for coordination among banks on checking frauds.

Banks even protect officers whose prima facie involvement in a fraud has been established. “Competent authorities do not sanction prosecution of an officer even when the chief vigilance officer and the chairman and managing director of a bank are convinced about his involvement. Sanctions are declined on extraneous considerations, not related to the case, which may not be healthy for the banking sector as a whole,” the note says.

According to RBI data presented at the meeting, the incidence of frauds on government-owned banks and the amounts involved have been on the rise. In 2004-05, the number of frauds was 2,633 involving Rs 600 crore. This has progressively risen to 3,425 cases involving Rs 1,527 crore. RBI’s data on individual cases of fraud are made available only to the investigating authorities and are not in public domain.

Officials in the Indian Banks’ Association (IBA), whose head too attended the meeting, said banks were asked to attend the meeting not on the basis of their experience of frauds but their size and importance in different regions.

Speaking to Financial Chronicle, Sinha said the vigilance commission was preparing a report that would suggest remedial measures based on the discussions at the meeting which were for between the banks and the CBI. “We will come out with a report on all this soon,” Sinha said.

Sinha said there were discrepancies in the fraud data available with RBI and the cases forwarded to CBI for investigation. “CBI has said that banks often held back vital information and did not follow prescribed procedure. RBI’s data reveal that many cases were not reported to CBI,” he said.

Procedures require banks to report frauds of above Rs 1 crore directly to CBI. Smaller frauds are to be reported to the local police.

According to officials, CBI’s Kumar suggested that banks improve coordination and cooperation among themselves in reporting frauds, especially in alerting a consortium or multilateral arrangements among them.

Kumar also suggested computerisation of land records and a central electronic registry to provide a database of mortgages created by all public sector banks. This would help banks deal with the problem of fraudsters availing of multiple loans against the same property.

sarbajeetsen@mydigitalfc.com

Over the weekend, I filled up my fuel tank, and I thought petrol has become really expensive after the recent price hike.

But then I compared it with other common liquids and did some quick calculations, and I felt a little better.

To know why, see the results below you'll be surprised at how outrageous some other prices are!

Diesel (regular) in Mumbai: Rs. 36.08 per litre

Petrol (regular unleaded) in Mumbai: Rs. 50.51 per litre

Coca Cola 330 ml can: Rs. 20 = Rs. 61 per litre

Dettol antiseptic 100 ml Rs. 20 = Rs. 200 per litre

Radiator coolant 500 ml Rs. 160 = Rs. 320 per litre

Pantene conditioner 400 ml Rs. 165 = Rs. 413 per litre

Medicinal mouthwash like Listerine 100 ml Rs. 45 = Rs. 450 per litre

Red Bull 150 ml can: Rs. 75 = Rs. 500 per litre

Corex cough syrup 100 ml Rs. 57 = Rs. 570 per litre

Evian water 500 ml Rs. 330 = Rs.. 660 per litre

Rs.. 500 for a litre of WATER???!!! And the buyers don't even know the source (Evian spelled backwards is Naive.)

Kores white-out 15 ml Rs. 15 = Rs. 1000 per litre

Cup of coffee at any decent business hotel 150 ml Rs. 175 = Rs. 1167 per litre

Old Spice after shave lotion 100 ml Rs. 175 = Rs.. 1750 per litre

Pure almond oil 25 ml Rs. 68 = Rs. 2720 per litre

And this is the REAL KICKER...

HP deskjet colour ink cartridge 21 ml Rs.1900 = Rs. 90476 per litre!!!

Now you know why computer printers are so cheap? So they have you hooked for the ink!

So, the next time you're at the pump, don't curse our honourable Petroleum minister just be glad your Bike / car doesn't run on cough syrup, after shave, coffee, or God forbid, printer ink!

NOW THIS SHOULD BE CALLED .. FUEL FOR THOUGHT!!!

(4) Search results for ‘Book for borrowers and guarantors’ – Ranking of drtsolutions.com is again No 1 in Google and Yahoo for more than 4,76,000 results

We are pleased to announce that even the search results for our forthcoming ‘Book for Borrowers and Guarantors’ has been ranked No.1 in major search engines like Google and Yahoo for more than 4.76,000 results globally. This shows popularity of our web site as well as the weekly mails.

(5) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(6) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

We have started receiving lot of queries on the said Conference. We are trying our best to chalk out the program in such a manner so that the Conference is proved to be a real source of practical knowledge to the litigant borrowers, guarantors and their advocates. Your queries, suggestions and publicity about the said Conference will a great help to the cause of hapless bank victims.

Our Weekly Mails and DVDs are DRT Legal Guide and gold mine of practical information for the borrowers and guarantors - The mail recipient particularly Borrowers and Guarantors will be immensely benefited by our weekly mails and DVDs, all previous issues of weekly mails from 1st one till the last one may be viewed by clicking the links given at the top. Separate web pages have been created to contain these mails in batches of 10 so that pages open up fast. These mails are gold mine of information on current topics giving lot of practical suggestions and ill comments. Any new recipient to these mails must go through all the weekly mails right from the issue no 1 to the latest. If possible please spread the reference of our web site and the weekly mail among the persons, borrowers and guarantors who are the bank victims. If anyone desires to get these mails regularly, he may write to us for inclusion of his e-mail ID in the regular mailing list. The weekly mail is issued on every Friday morning 6 AM. The particular issue of the weekly mail is first published on the web site and then mailed to borrowers, guarantors and their advocates in the country. We are getting huge no of mails appreciating our weekly mails.  We welcome suggestions as well as the topics on which more information is required.

DRT Solutions Weekly Mail – 106th Issue dated 21st May ’10

All Weekly mails right from 1^st Issue to latest, click links below:-   

   1-10  11-20  21-30  31-40  41-50  51-60  61-70  71-80 81-90 91-100 101-Latest

(1) Transfer of Administration of Tribunals from the concerned Ministry to Ministry of Law

The Supreme Court of India in recent judgment on NCLT i.e. Union of India vs Madras Bar Association decided on 11.05.10 has made several important observations to be implemented by the Central Govt., one of which in Para 56(xiii) is :-

“The administrative  support  for  all  Tribunals  should  be  from  the Ministry of Law & Justice. Neither the Tribunals nor its members shall seek or  be  provided  with  facilities  from  the  respective  sponsoring  or  parent Ministries or concerned Department.”

This was long overdue. The Banking Division under the Ministry of Finance was controlling the DRTs even to the extent of holding regular meetings with the POs was highly against the principles of independence of the Judiciary. Some of the POs were favouring banks on account of such administrative control including appointments of the POs. All this will now be corrected.

(2) Applications under Sec 151 of CPC are not governed by Limitation Act

The Sec 151 of the CPC relates to the Inherent Power of the Court laying down :-

“Nothing in this Code shall be deemed to limit or otherwise affect the inherent power of the Court to make such orders as may be necessary for the ends of justice or to prevent abuse of the process of the Court.”

The exercise of inherent power is not fettered by any rule of limitation. This section does not deal with any application nor does it lay down procedure for any application. It is a provision recognizing the inherent power of the Court to act ex debito justitiae. An application invoking this power is not one which a party is required to make under any provision of the Code for setting in motion any machinery of the Court. Therefore it is not governed by any Article of the Limitation Act. Vide AIR 1953 SC 98.

(3) Age of Human Beings

The biological age of human beings is 150  years. On account of present unnatural and defective life style, the human beings are dying at much younger age. Jeanne Louise Calment was a French woman with the longest confirmed life span in history at age 122 years 164 days. She outlived her daughter and grandson. Some of other examples of long life span are :-

(1) Ustad Rashid Khan of Gwalior (108 years) still sings classical vocal music on stage without any problem.

(2) Lady Mac Vak Kundor (107 years) in Malasia still want to marry to do away with loneliness. This will be her 23^rd marriage.  

(3)Swami Yoganand (102 years) has a perfect body more flexible than average young person. He desires to live upto 150 years.

(4) In Cannes Film festival this year, Monoel de Oliveira (age 101 years) Portuguese Film Director presented his new film.

(5) In 1928 in Norway, Chrisofer Honsward became Prime Minister at age of 101 years.

As per Swami Ramdev, yogis may live upto 400 years and common man can live upto 200 years. His guru Pradumn Maharaj (75 years) is having stamina of physical body same as Swami Ramdev.

There are many coolies on the railway platform who are having much  stronger physical bodies even at old age.

Our approach for comfort and sedentary life has not only reduced our age but has caused many diseases like diabetes, high blood pressure, arthritis etc.

Physically let the body be subjected to strenuous exercises like that of railway coolie and after achieving good physical health, let the body be utilized for ones own activities. Then only we will have all round happiness in real sense.

(4) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(5) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

We have started receiving lot of queries on the said Conference. We are trying our best to chalk out the program in such a manner so that the Conference is proved to be a real source of practical knowledge to the litigant borrowers, guarantors and their advocates. Your queries, suggestions and publicity about the said Conference will a great help to the cause of hapless bank victims.

DRT Solutions Weekly Mail – 105th Issue dated 14th May ’10

All Weekly mails right from 1^st Issue to latest, click links below:-   

   1-10  11-20  21-30  31-40  41-50  51-60  61-70  71-80 81-90 91-100 101-Latest

(1) SC rules if one withholds a vital document, he would be guilty of playing fraud on the court as well as on the opposite party

The Division Bank of the Supreme Court has laid down the above law vide citation AIR 1994 Supreme Court 853, SP Chengalvaraya vs Jagannath.

It is observed that the banks withhold several vital documents despite order of the Court and hence the above ruling would be quite useful to the litigant borrowers and guarantors. 

(2) DRT fight of our Madurai client forces the bank to come out for a settlement less than 15%  

Mr. Arun Murugan, Advocate of the client has sent the following e-mail on 12^th May ’10 which is self explanatory:-  

Dear Sir,

We have succeeded our Sundararajan's case which we have struggled for nearly 12 years.  We filed counter claim through you and supported by your back up finally the bank has bent their knees down and came out with compromise proposal which is very less and as per our advise he agreed for the same since it is very less amount which he can pay.  Now the worth of the property has gone  high. This has happened due to continuous follow up at every stage of hearing properly by way of filing all documents, relevant judgments and memos and basically due to the filing of counter claim for Rs.250 crores and by initiating criminal actions which is on the file of CBI as there were large number of wrong doings committed by the bank.  Its unbelievable and the credit has to go to DRT Legal Solutions and I feel grateful that I have been associated with them. 

Regards, 

M. Arun Murugan

Advocate, Madurai 

(3) SC paves way for National Company Law Tribunal (i.e. NCLT)   

The Economic Times vide news item with above title in its issue dated 12^th May ’10 has stated that ‘In a landmark judgment, a five judge constitution bench of the Supreme Court on Tuesday (i.e. 11.05.10) upheld the legality of the Companies (Second Amendment) Act 2002 providing for the establishment of the National Company Law Tribunal and National Company Law Appellate Tribunal to deal exclusively with the company cases for their speedy disposal.

The said SC Judgment is available on our web site and may be seen by clicking the link  http://www.drtsolutions.com/nclt.htm  

(4) Our web site drtsolutions.com is ranked no. 1 for the Google search results for ‘NCLT’     

This is just for information that our web site is ranked no 1 in global search results for ‘NCLT’ among 34,300 web pages. 

(5) Our Weekly Mails in form of a Printed Book:-

As informed we have received huge demand for a printed version of our weekly mails. Hence it has been decided to bring about a book with comprehensive commentary, good index along with a CD for easy search. We have started receiving enquiry and suggestions from the readers of our weekly mails as well as from the visitors of our web site.

(6) Proposed DRT Conference at Indore on 25^th and 26^th Dec. 2010:-

We have started receiving lot of queries on the said Conference. We are trying our best to chalk out the program in such a manner so that the Conference is proved to be a real source of practical knowledge to the litigant borrowers, guarantors and their advocates. Your queries, suggestions and publicity about the said Conference will a great help to the cause of hapless bank victims.