Pathetic Banking regulations giving free hand to public loot

[ssp142000]

Dear Friends,

I have been, once again, provoked to post my grievances to make you all aware the situations we are going through.

I am a middle class (third class) citizen of this country who dreamed to prosper and not able to digest the situation created by mighty powers/rulers.

The environment around is not only pro Capitalism but also to ensure middle class is always burdened with debt and incapacitated to live a peaceful life.

Written several mails but endlessly awaiting reply. Then they say talks are solution.

Approached Courts of Law (Criminal) against corrupt builder but lost it midway due to the fact we all know very well.

Attached is the letters, asking clarification, written to my Banker who has financed an illegal project. More interesting is the interest rate changes with time. You all will find it interesting.

Thanks

[tvkrishnam]

Yes You are a third class citizen. It is true for most of us. We did not get freedom in 1946. From being slaves of British Crown we became slaves of feudal land lords and industrialists.

[BlessU]

Hi Shamsher
Greetings

...and all those stuck with home loan on illegal and unapproved projects with tacit understanding of banks and aided and abetted by DTCP in committing public fraud.

Your recourse is with NHB with respect to getting the license of the home finance company cancelled. Remember, it may sound too high flown an idea but yes, SEBI complaint in case of Sahara was by a simple investor.

Least one can do is get a stay on ones EMIs being paid for an unauthorised/illegal project through Court, on the basis of various guidelines which have been received from NHB and RBI, in response to RTIs shared here.

RTI FILED WITH NHB REGARDING ILLEGAL FINANCING OF HOME LOAN BY A BANK ON AN UNAPPROVED PROJECT

RTI RESPONSE FROM NHB on RTI and GUIDELINES ISSUED BY NHB TO HOME FINANCE COMPANIES

Further, with respect to illegality in structure is concerned, DTCP has a full fledged enforcement wing for collection of GHOOS from such builders for their POLITICAL AAKAAS. It is important that all such illegal structures be captured from google earth along with copy of approved building plan, followed by a FIR against DTCP/Senior Town Planner and the builder. You will see the entire department and state machinery coming to the defense of the builder unless court intervenes. Police will not do proper investigation so be prepared to move HC and SC.

Interestingly same RTI was sent to RBI, knowing that 2 directors on NHB are from RBI, but they feigned ignorance. Perhaps they simply attend the meetings to enjoy "chai pakoda nashta" and Directors sitting fees. Further, Directors of NHB are supposed to be EXPERTS in the field of Architecture, Town Planning, Housing Industry (Why? Perhaps to help banks and builders flout all laws and commit fraud on common people)

It is a shame that Most Public Sector banks, run on public money and with shares listed on Stock Exchanges and get funds from Public Monies of RBI, Corporate/Public Deposits, Public/Govt Share Capital ... perhaps only to serve the capitalists.

Surely, this needs to change and FIR against all such Listed Home Finance Companies be filed, after getting proof through RTI about insufficient/missing Approvals, Authorisations from DTCP. Further SEBI be moved to take action.

Just to make readers aware that DTCP has confirmed through RTI response that all projects ZION/PAL on Triveni License have no approvals. Same for ERA on BPTP license. Clearly proving that these big license holders are nothing but front end beneficiary companies possibly of political netas.

Until a Regulator comes in place, it is next to impossible to imagine things falling in place in the interest of the bereaved home buyer.

Cheers
Permission for access to documents required, discretion advised.

[ssp142000]

All are hereby authorised to access whatever I have uploaded on this forum.

Regards,

Shamsher

[ssp142000]

We need to form a united group to tackle the corrupt. We have lawyers at our disposal whom we can rely.

Lets come together and initiate a fight to rid us of the atrocious atmosphere and pave a way for better future wherein we and comming generations will have a 'corruption-free' environment.

Good cases in hand to start with.