This is a securitization application regarding NPA classification and alleged fraud. The applicant claimed innocence and forced repayment, while the bank stated full payment. The Presiding Officer directed the General Manager to ensure genuine grievances are handled cautiously in future.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 33
Case No. SA/138/2024
MS MALTI MICROTECH Vs CANARA BANK
Date: 17.01.2025.
Present:
Shri Kailash Tailor, Counsel for the Applicant
Shri Rajkumar, Counsel for the Respondent Bank/FI
In this matter, Ld. Counsel for the applicant submits that his account was regular and due to some fraud taken place in Syndicate Bank, their account was classified as NPA on 31.03.2020 i.e. during the pandemic period and they were not permitted to operate the account. They have nothing to do with the fraud and no where concerned. Over reaction by bank officer declared account as NPA and did not pay heed to their genuine grievances. He further submits that since the property of mother was involved they were forced to repay the dues of the bank instead of running the account regular.
As per counsel for the bank, the entire amount without concession stood paid, but the same was not paid under protest by the applicant herein.
Having gone through the paper book and heard arguments, the General Manager of Canara Bank, Jaipur is hereby directed to ensure that no such type of incidents takes place and genuine grievances of the borrowers are taken care of like in the present case. The General Manager may cautious and the concerned officer to be careful in future.
In view of the above, this Securitization Application stands disposed off.
Copy of the order be given Dasti to the concerned parties. File be consigned to record, as per rules.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
2 issues framed by the court
Whether genuine grievances of the borrower regarding NPA classification and forced repayment due to alleged external fraud should be addressed.
Whether moral guidance to the General Manager to prevent recurrence of such incidents is appropriate in application proceedings.
MS Malti Microtech
Canara Bank
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
