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Praveen Morchhale

Bank OTS with customer

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Praveen Morchhale

Does Bank's One Time Settlement information with customer for loan settlement come under RTI ? Any latest court decision on this subject..Please inform.

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dr.s.malhotra

If the information belongs to you and you are the said customer of the bank , you can get it under RTI Act . But if it is 3rd party information then you will be denied this as per s.8(1)(d) and 8(1)(j) of the Act .

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karira

Is it OTS with you/your company or with some other third party ?

It all depends on how you argue the case.

 

There is a KIC decision on this subject: http://www.rtiindia.org/forum/40697-details-one-time-settlement-loans-disclosed.html

 

Part disclosure has also been allowed in the following case:

 

http://rti.india.gov.in/cic_decisions/SM-15092009-04.pdf

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Praveen Morchhale

Thanks...I am third party...I see some huge corruption behind the door in this case...

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karira
Thanks...I am third party...I see some huge corruption behind the door in this case...

 

If you have proof then bring in "larger public interest" into the issue.

This will ensure that you get the information.

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Praveen Morchhale

I am garnering information. I have information that huge loan amounting to 12 crore and actual disbursement of 6 crores was settles for less then 3 crore desipte having collatoral security of more then 8 crore value at present market rate...

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jps50

There are following decisions of CIC permitting disclosure of third party information where there is concession in interest, or subsidy is provided by Govt or where bank has remitted some amount [i.e. collected amount less than actual due amount]:

 

 

No.CIC/SM/A/2010/000834 dated 20-12-2010

No.CIC/SM/A/2009/000554 dated 09-03-2010

No.CIC/SM/A/2009/000588 dated 03-03-2010

No.CIC/SM/A/2010/000955 dated 13-04-2011

 

Since under OTS scheme, bank waives certain portion of dues, bank must disclose this information. You may quote above decisions in RTI application itself as a note.

 

In addition to other papers, please do seek certified copy of process-note approved by competent authority of the bank for OTS of the client referred to by you. I think you will have to ultimately approach CIC. Bank will not part with such information easily.

 

You can also lodge complaint with RBI [http://www.rbi.org.in] so that it can also initiate enquiry. If there was realisable securities, then there was no reason for the bank to settle the account at public [bank] loss. After 3-4 months file RTI application with RBI to know status of your complaint by referring to:

 

 

Long pending? :

http://www.rtiindia.org/forum/blogs/jps50/69-any-thing-pending-govt.html

 

Make effective:

http://www.rtiindia.org/forum/blogs/jps50/93-how-make-rti-application-effective.html

 

Central Govt application:

http://www.rtiindia.org/forum/blogs/jps50/19-rti-application-central-govt-info.html

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Praveen Morchhale

I am very happy to see such valubale information from you all.

 

Do I need to file this information request with RBI or the concern bank who is party in this settlement ? I understand I need to make request for information with Concern bank. Can I do simulteniously seek information from RBI ?

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