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DRT Cases particularly those who have just received notices u/s 13(2) or 13(4)
will be greatly benefited if they ring to us at Mob - 9691103689 (from 11AM to 6
PM on weekdays:-
You get instantaneous advice on the said mobile no.
Best Approach in DRTs for Borrowers & Guarantors :-
(1)
If you are our client, our consultation is available to you at any time on
24/7 basis. (2) We encourage you to acquire basic knowledge so that you may
interact with us as well as your advocate properly. (3) We insist that you
must always be present in the Court along with your advocate. You get
instantaneous
advice on our mobile no. 9691103689 .
Safeguards under Sec 14 of Sarfaesi Act -
Pl contact us on phone as soon as you received notice under
Sec 13(2) of Sarfaesi Act, we shall advice you for necessary precautions and
safeguards.
Senior Citizens - Longevity
दीर्घायु
&
Health Problems -
I am 78 years young as on 01.01.2021 and my hobby is to maintain good health, rather becoming
younger day by day. Recently I have published few important videos
[ (1) दीर्घायु क्यों व कैसे (2) दीर्घायु उपयोगी चर्चा (3) दीर्घायु व घुटनों
की समस्या (4) दीर्घायु व वृध्दावस्था के लिए अमृत है कीटो डाइट]
on Facebook
and YouTube on the important topic of Longevity ie
दीर्घायु To reach to my the said videos, you may search ' Ram Kishan
Longevity' or रामकिशन दीर्घायु in Google
or YouTube. My profile link on facebook is
https://www.facebook.com/ram.kishan.777
List of All Pages with Links of this Web Site may be seen vide clicking:-
DRT Solutions - Site Map for Borrowers & Guarantors
DRT Judgments Favourable to Borrowers and Guarantors – Now Full text of such
Judgments is being provided on this Web Site with Important Portions marked in Red
For reference of such judgments please click DRT Judgments Favourable / Useful to Borrowers
DVDs of the 2nd All India DRT Conference held on 8th
and 9th Jan ’11 are available – these DVDs contain goldmine of
useful information to borrowers, guarantors and their advocates
We are pleased to inform that 5 DVDs and 1 CD of the said
Conference are available at a token price of Rs. 1000=00. This amount is peanut
compared to that spent by the participants who came from far off places like
Cochin, Kolkata, Chandigarh, Chennai etc at their own expenses, stayed at Indore
and paid the participation fee of Rs. 4500=00 per head
These 5 DVDs are complete video record of the whole
conference and are gold mine of the current information on:-
(a)
Securitisation
Act, important questions and answers, practical aspects of stay and trial in
DRTs,
(b)
Important court
judgments and their applications,
(c)
Court procedures
and critical applications,
(d)
Bank documents
and their inspection,
(e)
Legal maxims and
their applications,
(f)
Important
provisions of Constitution and PILs,
(g)
Present state of
Indian Judiciary, problems and solutions,
(h)
Application of
modern management and technology etc.
We have provided in one CD complete audio record of the whole
conference so that one can listen the same on i-pod. As a whole these DVDs and
the CD provide the most latest and useful knowledge to the borrowers and
guarantors as well as their advocates.
The procedure for getting these DVDs is as under:-
(1)
You may deposit Rs. 1000=00 in our bank account details of
which may be obtained by sending SMS to us.
(2)
Pl inform the particulars of the above deposit to us by
e-mail and by SMS to our mobile no 09691103689
(3)
Pl inform your postal address and telephone number by e-mail
(4)
The DVDs will be dispatched within a fortnight
Our Client wins in Securitisation Appeal against 4 Banks in DRT – amount
involved nearly Rs. 90 crores and a tooth & nail fight of 4 years
Entire Judgment reproduced vide link
DRT Orders in favour of Borrowers & Guarantors
Our Weekly Mails are DRT Guide and gold mine of practical information for the borrowers and
guarantors :- The visitors of this web site particularly Borrowers and Guarantors will be
immensely benefited by our weekly mails, all previous issues from 1st one till
the last one may be viewed by clicking
Drt Solutions Weekly Mail for Borrowers & Guarantors Separate
web pages have been created to contain these mails in batches of 10 so that
pages open up fast. These
mails are DRT Guide and gold mine of information on current topics giving lot of practical
suggestions and comments. Any new comer to this site must go through all the
weekly mails right from the issue no 1 to the latest. If possible please spread
the reference of this 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
mails are sent. These weekly mails have become quite popular among the borrowers
and guarantors in the country as we are getting huge no of mails appreciating
the same. We welcome suggestions for improvements as well as the topics on which more information
is required.
Important Announcement - Video Arguments presented in Indian Court for the First
Time :- We are pleased to announce that on
10th October 2007, proposed 'Computer Presentation' was held for the first time
in the country by Mr. Ram Kishan before Hon'ble District Judge, Indore and the
'Video Arguments' were submitted and shown to the said Judge on 15.10.07. Thus a
history has been made in the Judicial Management in our country. We have
prepared two DVDs, one showing the method and system for such
presentation, its advantages with a practical application. Another DVD showing
the actual presentation before the District Judge, Indore on 10th October 2007.
we have prepared an article titled 'Computer Presentation & Video Arguments'
vide click here
Court Technologies IT Presentation Video Arguments
DVDs containing Video Record of DRT
Conference at Indore and
Chennai:-
All the proceedings were video recorded and the DVDs containing the same
are available. Any
one desiring to have the DVDs may send through e-mail their postal address,
name of the company, and if possible details of the pending DRT case or Securitisation case and
the amount involved, name of concerned person and his contact details including
phone nos etc. to us. During these
conferences, eminent DRT experts using PowerPoint Presentation dealt with all the
aspects of Bank Litigations and Borrowers Defence. The participants from all
over the country were highly
impressed and benefited from the knowledge thus gained.
Important Victory of Our Client against Bank:-
One of our important clients at Chandigarh who filed damage suit of Rs. 1825
crores against a public sector Bank on 13.01.05 registered an important victory
on 03.03.07 when the Court waived the entire court fee despite all opposition by
the defendant Bank. The alleged dues of the Bank are Rs. 30 crores. Since the
damages are much more than the alleged claim of the bank, no recovery action can
be executed till the said damage suit is finally decided. The usual delay in the
litigation does not affect our client as the damages are increasing day by day
due to interest charges at rate which is much higher than the increase in the
alleged claim of the bank. The said damage suit was drafted by us and all
necessary advice and guidance was provided on all dates of proceedings.
Technology in Court Rooms - Video Briefs and Video Arguments:-
Application of current presentation technology can tremendously improve the
quality of legal process in the court rooms including DRTs. Presentation in
Microsoft PowerPoint will help the Advocates in preparing their arguments in
advance. They can carry their notebook computers in the court rooms and present
their arguments in better manner. Their entire arguments can be videotaped and
submitted to the court in form of a CD as document. This will be akin to written
arguments and may be called as video argument. This will help the judges to view
and replay if necessary before writing the judgments. The judges need not make
any notes and the entire argument will be available to them at any time and due
to replay facility, the judgment writing will be much easier and accurate too.
Such CDs will also be helpful in appeals. With such use of the current video
technology, the quality of adjudication will improve a lot.
For further details, click
Court Technologies IT Presentation Video Arguments
DRT
Litigations in South India - Special Arrangement:-
We have made an special arrangements for the DRT
Litigants in South India. For all such matters, we have our legal representative
based at Chennai who has panel of advocates for contesting DRT matters in
Chennai, Bangalore, Hyderabad, Coimbatore and other DRTs in South India as well
as in respective High Courts and Supreme Court. The litigant Borrowers and
Guarantors facing actions under DRT Act and Securitisation Act in DRTs, ADRTs,
High Courts and Supreme Court may contact us on phone to get details of our said
representative for South India.
Our approach of counter-claim or damage suit against the lenders fully endorsed
by authorities:-
Two leading authorities in law and banking both
having more than 40 years of experience in law and banking have fully endorsed
our approach to counter-claim in DRTs or damage suit against the lenders in
civil courts. You may click the pages
Video Interview - BS Malik, Sr.
Supreme Court Advocate
and
Video
Interview - GC Garg, Ex-Senior Bank Official
which give the contents of the video clips of interview
with them. You
may take out the print and study the same. Listening to the video interview will
be further useful. You may select the clips for replay for discussions with your
colleagues as well as the advocates.
You may obtain the VCDs from us to listen to their views which will
be quite useful to all the borrowers and guarantors as well as to their
advocates. The counter-claim or damage suit against the lenders are the only
legal defence and we specialize in framing such defence. We have handled several
such cases throughout the country. You may contact us on phone to know further
details
DRTs, DRT solutions,
Debts NPA Recovery Tribunal, DRTs matters, DRTs WS, DRTs Legal Opinions,
DRTs Arguments, DRTs Documents, Appellate DRTs, Bank litigations, securitisation /
securitization,
Counter-claims, ARCIL i.e. Asset
Reconstruction Company (India) Limited,
NPA Recovery, NPAs Settlements,
checking of bank accounts and documents, 138 NI Act - Dishonour of Cheques etc., expertize in all these matters past 14
years. Legal
BPO and offshore BPO is our new activity for which we have launched new web site
www.usindolegal.com
Counter-claim is the only defence for the borrowers against Notice under
Securitisation Act
and or Original Application under the DRT Act:-
Under the present provisions of law,
the only legal defence for the borrowers is
Counter-claim giving quantum of loss and damages suffered due to wrong doings of
the lenders. The pleadings must be prepared by a person having mastery of facts
and mastery of law. The documents such as project report, application for
financial assistance, loan sanction letters, correspondence, balance sheets,
annual reports need to be referred to properly keeping in view the law of
pleadings, law of torts, law of damages, principles of natural justice, equity
and good conscience. If you are unable to get such pleadings prepared, our
professional services may be utilized. With our drafting of pleadings, you get
additional advantage of expert advice during course of litigation from beginning
to end. Since our clients are from all parts of the country and due to our
focussed attention, you get complete and exhaustive guidance. All our clients
are having upper hand over the lenders. In many cases the lenders have come
forward to waive total interest and settle at fraction of the principal amount.
In one of the cases the proposal of the lender is to waive the total claim provided
the borrower withdraws the damage claim, which the borrower has declined.
Counter-claim must be prepared much in advance of of the Notice under
Securitisation Act or filing of the Original Application under the DRT Act:-
The
counter-claim or damage suit must be prepared much in advance of the recovery
action initiated by the lender. The most appropriate stage is as soon as the
lender declares the unit as NPA. The said counter-claim or damage suit must be
ready before the lender issued Notice under Securitisation Act or files Original
Application is filed by the lender in DRT. With such advance action only, the
counter-claim or the damage suit will attain proper quality standards from legal
considerations. As soon as the legal Notice from the lender under Securitisation
or DRT Act is received the said counter-claim or damage suit is updated and
filed before expiry of the Notice Period. Since prima facie there is no debt
due, the lender can not take any action for the possession of the assets till
the litigation pertaining to the said counter-claim or damage suit is decided by
the court of law. Even if any attempt is made by the lender to take possession,
the property can not be sold. Further steps in the DRT should be as outlined in
the next para.
Winning bank litigations in DRT:-
The first step is perfect pleadings drafted by a
person having mastery of facts and mastery
of law. The borrower must setup his counter-claim in money value based on law of
damages and law of torts. In almost all the cases, the counter-claim is much
more than the claim of the lender. These are the condition precedents before
commencement of litigation in DRT. The next important step is thorough
preparation of the case by the borrower as well as his advocate much in advance
of the commencement of the trial in DRT. The borrower and his advocate must
prepare at least 7 days before the date. In case the counter-claim has been
drafted by us, the outcome of the said preparation must be discussed with us on
phone so that our guidance is also available prior to the date. The proceedings
on the date must be properly recorded in the DRT. All the relevant facts must be
obtained much before the arguments and through preparation must be made. No
arguments be held at any stage till all the facts are discovered. Long dates
should be resisted. With proper alertness and vigilance by the borrower who must
work in unison with his advocate in advance will ensure winning bank litigations
in DRTs. It must be understood that the battle is long drawn, time consuming and
expensive. Even after winning in DRT, the borrowe and his advocate will have to
work hard in facing the appeals in ADRT, High Courts and Supreme Court. If the
pleadings are drafted by us, we provide all guidance from DRT to Supreme Court.
Important Tip to Old and New Visitors:-
A visit to new page
Synopsis Video
Interview - BS Malik, Sr. Supreme Court Advocate
will
be highly useful. You may take out the print and study the same. Listening to
the video interview will be further useful. You may select the clips for replay
for discussions with your colleagues as well as the advocates
DRT / DRTs, DRT /
DRTs solutions,
Debt Recovery Tribunal, DRT / DRTs matters, DRT / DRTs WS, DRT / DRTs Legal Opinions,
DRT / DRTs Arguments,
DRT / DRTs Documents, Appellate DRT / DRTs, Bank litigations, Securitisation, Counter-claims, NPAs Settlements,
checking of bank accounts and documents
etc., expertize in all these matters past 14 years
being a Leading Law Firm.
Legal BPO and offshore BPO is our new activity for which we have launched new
web site
www.usindolegal.com
Highlights:-
All problems of Debt Recovery
Tribunals i.e. DRT / DRTs and Securitisation Act are tackled by us. People from all
over the country are phoning us, then visiting and getting their problems
solved. Please visit Home Page and other Pages also
|
Frequently Asked Questions
Video CD containing Interview of Mr. B.S. Malik, the Supreme Court Advocate as well as Our
Client available from us:-
This video interview will be immensely useful to industrialists, borrowers,
guarantors and bank litigants in DRTs.
Our Client files damage suit of Rs. 1825 Crores against a bank and a
financial institution in Chandigarh:-
Our Client, an eminent Supreme Court Advocate (practice more than 25 years in Supreme
Court) has filed a damage suit of Rs. 1825 Crores in Chandigarh on 13.01.05 against a bank
and a financial institution. The said damage suit was drafted by us and it runs
in 118 pages having documents of 537 pages. In a video interview lasting more
than 30 minutes on 23.01.05, the said Mr. Malik appreciated our legal concepts, our drafting and our
knowledge and experience about application of law of torts to banking,
industrial sickness, drt, counter-claim, securitisation act and calculations of
damages.
Our Computer Cell for checking of Accounts has started functioning:-
Our Accounts Cell headed by an ex-Bank auditor (experience 38 years) has started
functioning. You get your entire account checked up and certified by him.
Invariably in all cases, the accounts filed by the banks are defective and
illegal and thus the very debt due for the purpose of DRT and Securitisation
becomes questionable requiring rework and refiling, a difficult task for the
banks and financial institutions. Please contact us for the details and charges
through e-mail
ramkishan@drtsolutions.com
(a) The banks and financial institutions are required to file their claims in
DRT / DRTs
in respect of alleged debts above Rs. 10 lacs..
If the
borrowers and guarantors do not defend or do not submit their reply
including counterclaims in
time, the
battle is only one-sided and with passage of time, the said claim of the
banks gets legally endorsed. The appeal requires deposit to the extent of
75% of the decree amount, which in case of an industry is impossible. In
fact, such condition is ultra-vires the spirit of constitution and the
legal validity of the DRT / DRTs Act is questionable on this count. Even if
waival of the said 75% is obtained and if the counterclaim was not
originally raised, there is no legal defence in the appeal.
(b) Under
these circumstances the borrower is forced to yield to OTS (in short for
one time settlement). Our approach and advice is that right from the
beginning, the borrower and guarantor should adopt proper legal defence
i.e. they should raise their counterclaims. There is always scope
for filing counterclaim as the banks in all cases invariably commit
mistakes and we have expertise in this area. The counterclaim drafted by
us will have
tremendous benefits to the borrowers and guarantors. Now such defence has
become essential particularly after the Securitisation Act. If you do not
submit proper legal defence, your property may be sold out at throw away
prices and the banks will file recovery cases for the balance amount with
interest. Hence there is no other option but to fight properly using the
tool of law.
(c) Kindly go through our articles
and Frequently Asked Questions and Answers given in this web site. You will find that the bureaucracy in the banks
and financial institutions always and invariably commits several legal
defaults resulting into injury, loss and damages to the borrowers and
guarantors. Based
on these, practically in every case, there is scope for counterclaim.
Such counterclaim can be raised even in suit
filed accounts. If you have not done so far, you should do it now without
further loss of time. We shall suggest that you should speak to us. It will solve all your problems relating to the borrower as well
as the guarantors.
Some of the visitors desire to meet us in person,
they may fix up appointment over phone. In rare cases, we can visit your
place provided you bear our professional charges.
(d) The said counterclaim has to be based on the law of torts which alone offers full
scope for claiming damages. The law of torts is fully applicable in
our country. There are several Supreme Court rulings, some of which are
given in this web site and if you need references please click
here
You will be transported to the page 'News and Views' where such
references are given.
(e)
We
have developed special expertise in this area and our services are always
available professionally. Even the senior advocates support our views Mr. B.S. Malik,
Senior Advocate, Supreme Court of India, a famous
constitutional lawyer having experience of nearly 30 years, fully supports
our approach vide the para 'Interactions with Mr. B.S. Malik, Senior
Advocate, Supreme Court of India' in the page 'News and Views' of this web
site. To visit this page just now, you may click
here
(f) During the last 55 years of our democracy, had
we paid proper and serious attention to the application of law of torts
along with improving the management of the civil courts, the majority of government
bureaucracy and the politicians would have not been so irresponsible, so unaccountable and so
corrupt as at
present and our nation and our society would have been somewhere else. Our
inaction has made our next generation to suffer. At least we should wake
up now and exercise our right of legal defence by way of counterclaim.
(g) In USA, UK and
other developed countries, the law of torts occupies topmost position, In
USA, there is separate Bar Association of Tort Lawyers. In our country,
all the advocates read this law only in their law classes in the college. The famous
Indian book on law of torts is more than 100 years old. In modern society
when we use modern goods, we will have to use modern law.
(h) The
DRT / DRTs
Act and the Securitisation Act will
compel the troubled industrialists to utilize the effective tool of law of
torts against the arrogant bankers who, in all cases, are openly violating
the law contained in RBI Guidelines since 1976 as well as several provisions of law
of torts . We have located such illegalities. We have legally determined
the causal relations of such wrong doings and illegalities with the counterclaim. We know the
process by which such claims would be proved.
(i)
If we are afraid of bank
bureaucracy on filing the counterclaim, the day will not be far when one
sided decree will be passed, execution will be enforced, property will be
sold out at throw away prices, and there will be
no ground of defence in appeal. With counterclaim filed at proper
time, the legal battle in higher courts i.e. ADRT / ADRTs, High Court and Supreme
Court will have strong grounds to win. Further with counterclaim, the
borrower is in a better position to negotiate, if need so arises. If the
banks are filing recovery suits on drop of a pin, the borrower has full
authority to exercise his legal right to file counterclaim.
(j) The parties
should not hesitate in putting the amount of counterclaim to the largest
value because as per law, later on it can not be increased. The parties
should not be afraid of bank bureaucracy. Since this is the only legal
defence, all the DRT / DRTs litigants, sooner or later, are going to setup
their counterclaims. It is going
to be a country wide movement. There is no option and no choice. You are
not going to be alone. This has become particularly essential due to Securitisation
Act.
Why do the advocates appreciate your
approach and why do they like your legal opinion and drafting of
counter-claim by you?
After interactions with us the
advocates appreciate our approach due to our vast knowledge of industry and
law. Further the approach is based on mastery of facts and mastery of law
and the same is applied from the first stage of litigation i.e. the
pleadings. This has been lacking so far. This is not possible for most of the
advocates as they are extremely busy and are not specialized. The advocates
are advising the parties to seek our legal opinion and if needed to get the
DRT / DRTs Reply including counter-claim drafted by us. Our clients have started winning the cases. In
one of the DRT / DRTs cases, the bank which filed the recovery application in the
court of law now has come forward for compromise. For details, please visit
the page 'News & Views'. Another of our clients have filed a
counter-claim of Rs. 1864 Crores in DRT / DRTs. Other two clients have got their
counter-claims prepared by us for Rs. 2487 crores, Rs. 1100 crores, Rs.
446 crores and Rs. 211 crores. All these counter-claims are in the process of filing at
DRT
Jabalpur, DRT Mumbai and DRT Delhi. There are four seniour DRT / DRTs
advocates who appreciate our approach. Our message is spreading throughout
the country. The age of negotiated settlement is getting over as the liquid
funds are not available with sick industries. The judicial process is also
becoming efficient. Hence the borrowers and guarantors have no choice but to
fight legal battle. If the battle is to have a winning strategy, it has to
be based on sound fundamentals as evolved by us. Our approach is proving to
be successful also. After the Securitisation Act, the bankers
are acting with full force and speed. Further no sooner new 'National Law
Tribunal' starts functioning, the cases will ultimately land at DRT / DRTs. Again
the solution is by quickly adopting our approach. Since preparation of draft
for the reply including counter-claim takes 3 to 4 months time, the prudent
parties are getting their drafts prepared in advance. Now there is no
option.
How can I seek your legal
opinion ?
Please speak to me over phone. I shall answer all your
initial queries and have a quick
analysis of your case. If I find that something beneficial can be done, I
shall ask you to send me copies of all the available documents along with my
professional charges for the study. With my exhaustive legal opinion,
you will be tremendously benefited and can make your strategy for further action. With our specialized knowledge, we shall devise
ways and means to protect the interests of the borrowers and the guarantors.
You should go through other questions and answers on this page as well as
you can assess our work by clicking here
DRT / DRTs Cases Recently Handled by Us
so that you have the fair amount of idea as to how we are handling the
various types of DRT / DRTs cases. In emergency you can also speak to us on phone
nos. off.-cum-res. +91-731-3290201 or Mobile-930-2103689 (Reliance WLLM). Our study fee is quite nominal and with our
legal opinion, you get tremendous benefits.
[Back to Top]
At present, my DRT / DRTs case is stayed, what should I do in the intervening
period ?
The stay will definitely be lifted after certain period.
With the application of the Securitisation Act, the temporary relief enjoyed by the BIFR parties will
also go away. Hence the
intervening period should not be wasted in idling. It is suggested that you
should have continuous review of your case and preferably seek expert opinion from us. Please
click here and go
through the above question and answer viz. 'How can I seek your legal
opinion ? In order to avoid last minute rush, you should get the
counter-claim drafted by us in advance and keep it ready so that it can be
filed immediately as soon as the stay is lifted. Drafting of the
counter-claim requires 3 to 4 months time. On account of our expertise and specialization,
you can not get the required quality elsewhere. Many of our clients got the
counter-claims drafted from elsewhere and when they sought our opinion, they
assigned us redrafting of the entire counter-claim.
[Back to Top]
As per the Law of Torts nobody including a banker has any right to injure
others intentionally or innocently. If you feel that you have been injured
like this, we can study as to how the said law can be applied and make
strategy for obtaining suitable compensation for the injury, loss and
damages. At present, in most of the cases the public is getting injured by
the wrongful acts of the bureaucracy in the Central Govt., State Govt. and
their instrumentalities, agencies and other bodies like banks, financial
institutions, electricity boards etc. We handle all such
cases if substantial loss and damages are involved. In the arena of
business and industry, many of the victims whose cases are in the DRT /
DRTs (in
short for Debt Recovery Tribunals) and suit filed accounts have approached us for suitable
solutions, Many of the sufferers are the Borrowers as well as the
Guarantors. Apart from tendering our expert legal opinions, we draft the
suit, written statements, countersuits, counterclaims under the law of
torts, law of contracts etc. for the injury, loss and damages. We are
mostly
confined to solicitor services. Our drafts, briefs and opinions are quite
exhaustive for the average advocates to contest the cases easily in the
court of law. If needed, in DRT / DRTs cases, we can appear before the tribunals/appellate
tribunals
and conduct arguments,. We examine and inspect the bank documents and
locate numerous illegalities, inequities and contradictions. Our services are available online during the course of
litigation any time any where. We are only a phone call away.
Counter-claims prepared by
you run in hundreds of crores. Do the DRT / DRTss have powers to decide such
counter-claims and that too under the law of torts?
DRT / DRTs have
unlimited powers for the claims filed by the banks and financial
institutions. Hence they have unlimited powers for the counter-claims by
the borrowers and guarantors. The rank of Presiding Officer is equivalent
to a District Judge. The District Judge has unlimited powers for the suit
amounts and hence the Presiding Officer of the DRT / DRTs have unlimited powers
for the claims and counter-claims. As per the DRT Act, counter-claim can
be set up for damages also. The Supreme Court has specifically laid down
that claim and counter-claim are to be decided together by the DRT / DRTs. As
regards the Law of Torts, it is a substantive law. There is no exclusion
of this law in any court including that in DRT / DRTs. The famous case of Union
Carbide awarding damages of Rs. 750 crores under the law of torts was
decided by a District Judge in Bhopal. For the first time in the legal
history of the country, in this case interim damages of Rs. 250 crores
were awarded.
[Back to Top]
Why are the counter-claims prepared by
you so huge, running in hundreds of crores?
The counter-claims prepared by us and mentioned in this
web site are to the tune of Rs. 2487 crores, Rs. 1864 crores, Rs. 1100
crores, Rs. 446 crores and Rs. 211 crores etc. All these pertain to the injuries caused to the
industrial units and their promoters. The calculations are based on law of
torts and law of damages. In the 'News & Views' of this web site, we have
described a case in Kerala where the party in 1990 filed a damage of Rs. 300
crores against a public sector bank. On the same page we have also mentioned
damage cases in USA where even the individual claimed damages to the tune of
Rs. 14,000 crores. Considering all the relevant factors, our damage
calculations are reasonable, fair and legally correct.
As per the law
of torts and the law of damages, there is no particular limit that can be
awarded by a court of law including DRT / DRTs. The amount may rise to almost any
sum of money. In India in 1922 a sum of Rs. 2,00,000 was awarded vide
Jugal Kishore Marwari vs Babu Homeshwar Singh, A.I.R. (1922) Pat. 79.
We calculate the counter-claim as per the law of damages, according to
which the injured should get the sum of money which will put him in the
same position as he would have been if he had not sustained wrong. For
further details please visit the page 'Notes - Damages' of this web site.
Our calculations are based on proven performance of the industry as
reported in the balance sheets and annual reports. We also consider the
business opportunity loss, injury to the property, loss to image and
reputation etc. If the damages are caused deliberately, we add aggravated
and exemplary damages also. Until and unless, we submit our full claim,
the court of law including DRT / DRTs is not going to add from its side. If the
violation of law and wrong doings on part of banker virtually kills an
industry, it is a great impact on the society and huge loss and damages
are caused. Such counter-claims alone will make the bankers responsible
and accountable. With such approach only the errant bureaucracy in our
country can be corrected. It is a compulsion particularly after the
coercive legislation like the DRT Act 1993 and Securitisation Act 2002.
The law of torts is the only tool and the counter-claim for damages is the
only remedy for the injured citizens including borrowers and guarantors in
a democratic set up like ours. Since the benchmarks set by our
constitution are one of the highest in the world, the resultant
counter-claims will also rise accordingly. Indian industry so far has been
using only plain language to express their injury but we have shown its
quantum in money value. Kindly visit the page 'DRT Cases Handled by Us' of
this web site to have the details of typical counter-claims.
The counter-claim is same as a counter-suit. The court
fee charged on counter-suit is same as that for the suite. On the same
reasoning in DRT / DRTs, the scale of fee for counter-claim is same as that
for the claims filed by the banks and financial institutions. The maximum
court fee is Rs. 1.5 lacs.
Most of the cases pertain to sick industries which are
already having balance sheets registering losses. Thus they have no
sparable funds for court fee. Further their assets are already mortgaged
and hence the same can not be disposed off for arranging court fee. In
legal arena such company is called “an Indigent Person“. There is
full fledged legal procedure for filing of suits and exemption of court
fee for such persons. The 'News and Views' page of this web site gives a
Supreme Court judgment on waiving of court fee of an Indian Company which
filed in 1990 a damage suit of Rs. 300 crores on a nationalized bank. To
visit the said page of 'News and Views' just now, you may click
here Thus
the parties who do not have sparable funds for the said court fee of Rs.
1.5 lacs, they
can file their counter-claims as 'Indigent Persons'.
What are your views about the deposit of 75% for the
appeal in ADRT / DRTs?
The appeal
against the final order of DRT / DRTs requires maximum court fee of Rs. 30,000=00.
Such appeal also requires a deposit of 75% of the amount of debt due as
determined by the DRT / DRTs. The appellate DRT / DRTs may waive or reduce the said
deposit. Our views are as under:-
(1) On account of
such provision, it is all the more important to have proper pleadings at the
very initial stage of DRT / DRTs trials so that it is proved that the borrowers do
not have any sparable money for the said deposit. In our drafts we include
such pleadings.
(2) Further on
account of such provision, it is highly essential that the DRT / DRTs trial has to
be exhaustive and complete in all respect. The borrowers must include their
counter-claims if there is even a slight possibility of the same otherwise
there will be no opportunity in future. The pleadings must contain all the
facts for the proposed trial. With our expertize and specialization, all
such precautions and safeguards are readily available.
(3) There is
scope for questioning the constitutional validity of this provision. We have
lot of material and the party desiring to do so may contact us.
Will Indian Courts and DRT / DRTss give decisions on the
points raised by you ?
(a) This doubt
prevails in the minds of the people because of wrong approach to litigation
process. If we jump to High Court or Supreme Court in the very beginning, we
are bound to fail. Even the consumer forum is not a proper jurisdiction for
bank cases. The best place to start the legal battle is the trial court or
DRT / DRTs.
(b) The
Industrial or business loans involve complex and controversial facts about the working of the
industry, business and banking. The important facts are known as material
facts. The importance is to be judged in light of the law to be applied. In
the context of industrial units being created, promoted, developed and to be
maintained in pursuance of the directives and policies of the government
operating through the RBI (Reserve Bank of India), the law of torts is the
most appropriate law to be applied. The person who prepares the case on
behalf of the borrowers and guarantors should be well versed in this law,
then only he should examine all the available facts and then sieve out the
material facts. Any deficiency or lapse in this recognition and sorting out
of the material facts will certainly result into failure.
Hence 90% of the battle will prove to be
successful if drafting of the pleadings has been done by a person who has
thorough grasp of business, industry, banking, legal process and law of
torts. Such appropriate pleadings only should be filed in the courts or
DRT / DRTss. It is needless to mention that we have exclusive expertise in this
area. Rest of the court/DRT / DRTs process can be handled by any advocate as we provide
exhaustive brief. If needed, we can also handle arguments in DRT / DRTsand ADRT
/ ADRTs.
(c) The most
important aspect is the cross-examination of the bank officials. On account
of our exhaustive draft any advocate can obtain the admissions of various material facts
useful for the borrowers and guarantors. With such process, the role of the
judge is left with nothing but to give decision in our favour as he has no
discretion in respect of the facts admitted by the bank officials. With such
legal process, the role of the high court and the supreme court becomes very
much limited particularly in respect of the admitted facts.
(d)
This winning strategy requires hard work and patience. It is needless to
reiterate that the most important aspect is an appropriate drafting of
counter-suit or counter-claim. Our approach is result of more than 13 years
of practical work on the legal shop floor supported by thorough study of
relevant legal material, numerous case laws and supreme court judgments,
discussions with the legal experts, advocates, judges, writers of legal
books, industrialists etc. Our 2 main articles and more than 70 mini-articles including those on Securitisation
Ordinance and Act published in the Financial Express are the solid proof of our
experience and knowledge. This is the reason as to why our work has been
appreciated by our clients and legal authorities vide their comments,
extract furnished in the page
About Us-DRT / DRTs Solutions
of this web site. We are always available
for further clarifications. In case of any difficulty,
please make a phone call to us. In respect of DRT / DRTs matters, we provide legal
consultancy even on phone.
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We cater to various clients all over the country in
respect of solicitor services on all DRT / DRTs matters. We are also available for
arguments in DRT / DRTs and ADRT / ADRTs. Our clients first get in touch
with us through phone. They, then, send us copies of the available documents, brief history of
their case along with a prescribed study fee. After receipt of these, we
study their documents in depth and prepare our opinion along with the
strategy for future course of action. This is the stage at which, if the
client desires, he can have detailed discussions. We have a well developed
online computer system for rendering efficient services any time any
where. Since we are highly focused on the Law of Torts as applied to
business, industry, sick industries and relevant legal aspects, our
products and services are qualitatively of highest possible standards. We
provide exhaustive briefs i.e. case laws, analysis, strategy and online
support so that any advocate of Indian Courts will find it
easy to contest in the trial court, DRT / DRTs as well as higher courts. It is
needless to mention that on account of expertise and specialization, we
provide instant advice even on phone with up to date law on any issue
related with DRT / DRTs, ADRT / ADRTs, Securitisation Ordinance, Bank documents etc. Our
clients can have arrangements with us for retainership using phone or
e-mail.
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Whether Can I prepare my counter-claim?
and its
pros and cons?
Few parties have enquired as to how can they prepare
counter-claim themselves at their own end and if so what are its pros and cons?
Preparing counter-claim is a highly skilled job requiring mastery of
relevant facts and mastery of relevant laws. In case of DRT / DRTs
counter-claims, one should have in-depth knowledge and experience of
banking, industry and business, Banking laws, company laws, law of torts,
law of damages, procedural laws, Constitution of India, DRT / DRTs laws, law of
pleadings, law of evidence, law of contract, Bankers' Books Evidence Act,
Securitisation Act, relevant court judgments etc. Normally such
specialized knowledge and experience is not possible for the businessmen,
industrialists and their advocates. If someone wishes to acquire the same,
it needs intensive study for years together. Despite if someone endeavours
to do so, the pleadings will be incomplete and inaccurate and such a step
brings in serious weakness right from the first step. In fact the battle
is lost before it begins. It would be a false saving and suicidal. The
expenses involved in getting the counter-claim drafted by experts like us
would be worth any cost just like a life saving drug. We have achieved the
quality standards of drafting after continuous experience and knowledge
past more than 13 years of exposure. Many of our clients with our drafts
are now having upper hand over the banks and financial institutions.
Despite all these even if you intend to draft the counter-claim
yourselves, it would be like inventing the wheel and will prove to be
highly injurious. Some of our clients and their advocates attempted to do
so and when they had problems, they came running to us and we had to redraft
the entire counter-claim as they made fundamental mistakes in choosing
proper legal syntax, the categories of damages, calculation of damages as
per law etc. (24.10.05)
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