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Wrong House Under The Hammar

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J

Janaki Jambunathan

Active member
 
An interesting dispute ……worth for a case study!
Recalling the sentence from R.K.Narayanan……………”Fools build houses; wise rent on it”
Now it is understood that wise…….. not only rent on it but also mortgage / sell ….the house.
 
Shocking! Callous attitude by the Bank & other Government organizatuions despite her appeal to IREDA to stop the auction...CBI's report was also a sham without verifying documents! The court should immediately handover the property to the original owner without any further delay & compensate her substantially for the losses !
 
Ha ha ha
This is india.
Anything is possible.
credit card fellows wrongly threatening people with action on non existing loans is common.
 
We could not infer as we do not know the full text of the case.
It appears from the available details that the tenant has borrowed / indebted to a company at Delhi.
The case might be conducted at DRT, Delhi the place of the Creditor company.
The auction of the property could have been held at Chennai.
However, the person who have bought the property in auction certainly could have verified the title of the property by taking a fresh EC.
Either the tenant would have forged the signature of the land lord and transferred the property in his name before offering it as security / attachment
OR the landlord herself stood as innocent guarantor for the transaction without knowing the repercussion.
 
Many grab properties by declaring the owner as dead.

UP is full of walking dead.

They find it difficult to prove that they are alive.
 
Janaki Jambunathan said:
Your bank needs to let you get to know it better

So maybe KYC should have a corresponding KYB: Know Your Bank. Or should that be Know Your Bunkum?
https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwiCkpvV4qXKAhXQT44KHahOCYYQqQIIHTAA&url=http%3A%2F%2Fblogs.timesofindia.indiatimes.com%2Fjugglebandhi%2Fkyc-and-kyb%2F&usg=AFQjCNGsqWKeaj5yEEiT9GATzdeg-Z2_iA&sig2=kISG1TqewW_h8rKgPzblzQ
Click to expand...

Good question;but it appears to have emanated in web from an ignorant man.

KYB.... is very simple.
We have to know the Bank whether it is a scheduled commercial Bank or not. The list is available in the net.
The deposits of all scheduled commercial Banks are insured with DICGC (Deposit Insurance and Credit Guarantee Corporation of India.) and banks are paying premium for all our deposits.

In case, the bank fails all individual deposits up to one lakh will be repaid by the DICGC.

In case of bank failure, Govt. will not pay anything from tax payers' money as apprehended in the reference)
 
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All PSBs are going downhill. Their NPAs are going up steadily.

Their share values have crashed to new lows

Their services are not worth talking about.

Their bunglings are getting worse.

My pension for one month did not get credited and one PSB disowned it saying their central office at other end of town does the transfer.

I gave up after two trips to local branch and cost of travel to central office and return is more than the pension amount.

KYC is only a nuisance.It increases the hastles of small savers with a few FDs.

ATMs of most PSBs are mostly empty when needed during holidays and are not kept functional with cash.

If someone says Bank and bunkum are same I tend to agree.

Sooner they stop recapitalising banks with tax payers money better it would be for the country.

Most staff are outdated and are not techno savvy.

Printers are non functional for any output.

Added to it increasing the client base by indiscriminately opening accounts for cash transfer of subsidy for all such as children in school , adult pension for widows,

disadvantaged, subsidy transfers for lpg and other items have brought banking system to near non functionality.

Now added to it pay revisions for non functional staff.

There is a need for shake out , merger of banks with getting rid of deadwood to make banking useful and functional
 
krish44 said:
Their services are not worth talking about.

My pension for one month did not get credited and one PSB disowned it saying their central office at other end of town does the transfer.
Click to expand...

In case the delay in pension for a month is due the mistake of the bank , the pensioner could proceed against the bank for compensation.
If payment of pension is stopped for non furnishing the mandatory "Life Certificate" the mistake is on the pensioner's part. the onus of delay lies with the pensioner. He could get his pension after furnishing the life certificate that too along with the succeeding month- pension.
 
krish44 said:
Their services are not worth talking about.

Their bunglings are getting worse.

My pension for one month did not get credited and one PSB disowned it saying their central office at other end of town does the transfer.

I gave up after two trips to local branch and cost of travel to central office and return is more than the pension amount.
Click to expand...
In case the pensioner does not depend upon pension,it is better to write a complaint to the Bank and get it resolved in a fortnight.
Going personally on hired mode transport will always result in a penny wise and pound foolish situation.
 
krish44 said:
KYC is only a nuisance.It increases the hastles of small savers with a few FDs.
Click to expand...
KYC is an important tool for identification.
Repayment claim by the customer / legal heirs could be made to the right persons.
Beside KYC reduces the incidence of benami / black money transactions.
 
krish44 said:
Added to it increasing the client base by indiscriminately opening accounts for cash transfer of subsidy for all such as children in school , adult pension for widows,

disadvantaged, subsidy transfers for lpg and other items have brought banking system to near non functionality.
Click to expand...
When we raise voice for equality before law in other issues, is it not equally applicable to the lower / middle class for opening accounts in PSBs to get subsidy and widow pensions?
Mistake is not that of PSBs but that of our own in choosing PSBs instead of foreign banks, to hold our prestigious transactions.
 
yesmohan said:
In case the delay in pension for a month is due the mistake of the bank , the pensioner could proceed against the bank for compensation.
If payment of pension is stopped for non furnishing the mandatory "Life Certificate" the mistake is on the pensioner's part. the onus of delay lies with the pensioner. He could get his pension after furnishing the life certificate that too along with the succeeding month- pension.
Click to expand...
Only for april month it did not get credited. from may onwards, and before april in march , there are monthly transfers. sometimes money goes to someone elses

account due to wrong entries by bank.The banks do not simply care to fix the issue and give evasive answers or pass the buck.

Who has the energy to fight banks for compensation for an amount which are good enough for only one meal in a four star hotel ?
 
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