HDFC Bank: Pawn your wife's gold now -- No documents needed!
October, 2016: Imagine you are having a gynaec examination. With his rubber-gloved fingers inside you, the gynaec starts a casual chat about why you should buy his home-grown brand of condoms and intimate products. Creepy? Yeah, well, but that's how HDFC Bank and other private-sector banks work. Actually, HDFC Bank is like if your gynaec collects real-time information about when and with whom you have sex, what kind of sex you are habituated to, exactly when you menstruate, what kind of lingerie and sanitary pads you are currently wearing, etc. and then this gynaec goes and hires a bunch of MBAs and college freshers, calls them "Relationship Managers", lets them hang around his clinic pretending to be gynaecologists themselves till you start feeling comfortable enough to tell them about your intimate problems.
Then your gynaec goes and gives these relationship managers access to your information on their computer screens, with monthly targets for selling you condoms, sanitary pads and other intimate products. They call you and make you feel important by calling you a preferred customer, and giving you a platinum card. So, if your periods are four weeks late, you get a call that goes like: "Good morning, ma'am, I am Nikhil, your personal banker. May I interest you in visiting our abortion clinic? Oh, you don't want to abort? My apologies, madam. May I take this opportunity to gift you an early booking in a maternity home with whom we have a tie-up? We also have a tie-up with Amazon for incredible discounts on maternity gowns and chocolate-flavoured condoms this Diwali. When can I come and meet you to book your orders?"
Bankers are routinely privy to salary details, annual income, etc. that it is their business to know. However, the salesmen and women who hang around your bank have no business to know your financial details. HDFC Bank branches have a bunch of glib young men and women who are very approachable and go out of their way to fill up account-opening forms, etc. for you. Just because they sit inside the bank, you think they are "bankers" and you never hesitate to ask them to access your account on their computers. So these sales people get to know private things such as a huge cash-flow into your accounts when your life insurance policy matures, or you take VRS, or sell your house, or book profits in the share market.
If you are flush with funds, your "personal banker" says, "Sir, can I interest you in our tax planning products to reduce your income-tax and capital-gains tax liability?" Alternatively, if you are struggling to pay credit-card bills, frequently overdrawing your current-account, breaking fixed deposits prematurely, etc., your relationship manager nudges you to take a personal loan or gold loan which he knows you are unlikely to repay in time. Loan disbursal lets him meet his monthly targets and earn commissions, and when you default on repayments, heavy penalties and foreclosure of your gold loan helps the bank reap handsome profits. Predatory lenders used to be called loan sharks and pawn-brokers! How the times have changed!
|Customers are set up for systematic long-term exploitation by HDFC's bankers and non-bankers acting in concert.|
Here's a real-life anecdote: An elderly couple walked into an SBI Bank branch to fill up their 15H form, so that TDS would not be deducted on their interest income. A friendly-looking lady sat them down at her desk, filled up their forms for them, and persuaded them to invest Rs 3 lakhs in SBI Mutual within 15 minutes. The only reason that the elderly folks trusted this woman is that they thought she was a full-time bank staffer, whereas she was actually a freelance sales agent! .
Another anecdote: ICICI Bank organized free Aadhar Card camps in the foyers of a residential building in a posh Borivali neighbourhood. While one solitary minion sat in in the foyer taking fingerprints, mugshots, etc., half-a-dozen bank officials hung around persuading the waiting people to open accounts with ICICI Bank, and visited their homes on various pretexts. And they were pushy – it was very difficult to say no to them! Why are banks so keen on opening lots of accounts? Because it "provides customer base for ongoing cross-sell through branches". In other words, every account holder is a potential customer for credit cards, loans, etc.
|Emails giving you updates about your HDFC account balance are ethically OK... but these are the narrow end of the wedge.|
|Emails selling you the bank's debit card services seem ethically OK, but only because banking and debit/credit card businesses are so inextricably mixed up.|
|Emails like this one really cross the line from banking to advertising and marketing. Using its own customer base for marketing the products of other unrelated companies, is abuse of the trust that customers repose in bankers.|
|The box on top right shows that third-party product sales is a source of fees and commissions for HDFC Bank. The bullet points at the bottom shows that Fees and Commission form about a quarter of other Income (non-fund revenues) of the bank.|
Bottomline: In their mad race for year-on-year growth, retail bankers are crossing over some boundaries of the client-banker relationship. HDFC Bank is abundant in examples of this unwholesome trend.
These may not necessarily be adequate grounds for filing complaints to RBI or the banking ombudsman, or for going to consumer court. But this distasteful behaviour shows a tendency to exploit the customers' ignorance, dependency and blind trust in their banks.
How to File a against a Builder, What are the options available
Any citizen can file a case against a developer. There are several options and situations under which a property buyer can file a complaint. Types of complaints are:
On the following grounds in which a property buyer can drag an incompetent property developer on violations/ breach of ground
And many more…
Any project falling short of above listed causes home buyers to approach for remedy from options available 1 to 5
1) Cheating Case (EOW) - Jointly or Individually Legal Complaint
2) Cheating Case (EOW) with Private Complaint to the Metropolitan Magistrate (MM)
3) Specific Performance in High Court
4) National Commission if agreement value is more than 1 Crore (New Delhi)
5) State Consumer if agreement value is less than 1 Crore (Mumbai)
How to file a complaint against a builder in the Consumer Court?
With builders coming under the clause of being a service provider, the process of filing a consumer court complaint against them is the same as with other service providers. To file a complaint, you need to adhere to the following steps:
As per a judgement passed by the National Commission in the case of Jayantabhai Ranka and Arunaben Kapadia vs Ravi Developers, the Commission pointed out that the cause of action on the builder continues till the allotment of the site or full refund of money on refusal to allot.
This means, no matter how much the delay, the builder is liable to properly honour his service agreement. The other important point that this particular case also highlighted is that ‘each property developer is liable to execute an agreement for sale’. And failure to do so can be a cause of action against the builder in the Consumer Court.
You may simultaneously approach EOW with legal advice along with Consumer Court Case
1) Cheating Case (EOW) - Jointly or Individually Legal Complaint
2) Cheating Case (EOW) with Private Complaint to the Metropolitan Magistrate (MM)
This option of specific performance in High Court is little expensive but result oriented all you need a good Advocate and result can be expected in 4 to 8 months where as in consumer court it may take 12 to 24 months
This option is expensive as you have to pay court fees the upper cap of the court fee is Rs 3 Lakh the court fee structure calculation table is given for your reference
COURT FEE SLABS
SLAB-A = FIRST RS. 15,00,000 --------------------------------------- RS 31,230.
SLAB-B = RS. 15,00,001 TO RS. 26,00,000-------@RS 2,000/RS 1,00,000.
SLAB-C =ABOVE RS. 26,00,000------------------------@RS1,200/RS 1,00,000.
SLAB-D = FIXED -------------------------------------------------------------RS 200
e.g. COURT FEES FOR RS. 30,00,000, 40,00,000, 50,00,000, 75,00,000 AND 1,00,00,000 ETC. CAN BE CALCULATED AS UNDER:-
For Court Orders in Favor of Home Buyers and Aggrieved Flat Owners in Redevelopment Project click the link below
Issued in Public Interest by Sulaiman Bhimani 9323642081 firstname.lastname@example.org
20th September, 2016, Cuttack: Justice Indrajit Mahanty – the second-seniormost judge of Orissa High Court -- hears cases and gives orders that enrich his brother Biswajit Mohanty, a well-known lobbyist for private educational institutions. Justice I Mahanty's many interim orders are in alignment with the commercial and political interests of his brother. Judges are expected to recuse himself from hearing cases where their kith and kin's interests are involved, but Justice Indrajit Mahanty overrides such niceties without batting an eyelid.
Indrajit Mahanty and Biswajit Mohanty are both sons of Barrister Ranjit Mohanty, and are both inheritors of the Barrister Ranjit Mohanty Group of Institutions. While Indrajit Mahanty is not directly hands-on in the education business, Biswajit Mohanty is chairman of the BRM Trust and runs many private educational institutes such as BRM International Institute of Technology (BRM-IIT). Biswajit Mohanty is also a trade unionist and lobbyist, who heads Odisha Technical College Association (OTCA), which lobbies for filling up more seats in such colleges, along with Odisha Private Engineering College Association (OPECA). OPECA files public interest litigations, writ petitions etc, while OTCA and Biswajit Mahanty maintain a slightly low-key presence. While their lobbying poses as championing the students' rights, bear in mind that more filled-up seats means fatter profits for Biswajit Mohanty and his fellow "educationists".
For the past 7-8 years, OTCA and OPECA are at loggerheads with Orissa state government, which is keen on making the CBSE-conducted Joint Entrance Examinations (JEE) the only criterion for filling engineering seats. The Orissa High Court division bench headed by Justice Indrajit Mahanty has leaned in favour of OTCA and OPECA.In 2014, Supreme Court stayed Orissa High Court's orders for holding a special JEE i.e. OJEE, but in 2014, 2015 and 2016, the high court division bench (which inevitably had Justice Indrajit Mahanty even while other judges, like Justice DP Choudhury and Justice BK Nayak, changed), ordered that a special OJEE (Orissa JEE) be conducted for seats remaining vacant after the JEE (Mains) counselling.
It is strange that although news items regularly appear about what Biswajit Mohanty says about JEE, and what orders Justice Indrajit Mahanty passes about JEE for that particular academic year, the media takes care to avoid mentioning the two brothers names in the same news item! The public may be fooled by this conspiracy of silence, but political parties are not fooled. Recognizing the value of his demonstrated power to sway the high court, BJP lovingly embraced "Pugi-bhai" Biswajit Mohanty in 2015, amist loud drama-baazi.
Being highly educated, intellectual and articulate, Judge Indrajit Mahanty understands the conflict of interest in hearing cases tied up with his brother's business. With open eyes, Justice I Mahanty keeps dishonouring his constitutional oath of office, whereby he swore to serve the country "without fear of favour". Thankfully, whistleblowers are giving us lots of documents to build up a convincing case for impeaching this Orissa High Court judge.
10th September, 2016, Cuttack: One is puzzled by the accounting treatment for Justice Indrajit Mahanty's Rs 2.5 crore working-capital loan for his hotel, The Triple C. Lakhs of rupees are withdrawn and repaid every month in two SBI loan accounts in the name of "Justice Indrajit Mahanty" and strangely, not in the name of Latest Generation Entertainment Pvt. Ltd., the company that has leased the hotel from him. As a High Court judge, Justice I. Mahanty gets a monthly salary of Rs. 1.35 lakhs, and therefore is liable to pay Income Tax. But repayment of principal plus interest could reduce or eliminate his taxable income. Suppose his tax returns are dodgy, can Income Tax authorities summon his lordship personally for questioning u/s 131 of Income Tax Act, and compel production of his lordship's books of account?
We asked Mr Binoy Gupta, a retired Chief Commissioner of Income Tax (CCA), who holds a Ph.D. in Law. His reply was: "There are no exemptions in any law for any Supreme Court or High Court Judges from any judicial or quasi judicial proceedings. Our department has taken action under the Income Tax Act against them."
We requested Mr Gupta for case studies (with or without the names of the judges) to substantiate his claim of having taken action against judges. His response was: "I can not give any instances today. But I stand by my statement that Judges of the Supreme Court and High Courts have no special status so far the applicability of Income Tax Laws are concerned."
And then Mr Gupta added that bringing a judge to justice is a tough job. He wrote: "If any govt. servant engages himself in business, his department can and does take action. But the procedure for taking action against Judges is far too complex... impeachment which is extremely difficult."
Given the absence of case studies and other details of judges being held accountable by Income Tax authorities, our gut feeling is: IT authorities will never dare to summon his lordship, because (a) they would be in awe of a high court judge, and (b) because the high court has superior jurisdiction over the Income Tax department, and not vice versa. Even if judges do not enjoy de jure immunity from quasi-judicial and administrative authorities, they enjoy de facto immunity. No government official will risk rubbing a high court judge the wrong way by questioning him, even if the law permits him to do so!
In return for such unquestioned authority and immunity, judges are expected to keep their affairs transparent and straightforward, by abstaining from business activities. Their income should ideally consist of their salaries, and interest on fixed deposits etc. -- nothing more complicated than that. To quote YK Sabharwal, former Chief Justice of India, who spoke on the Judicial Canon of Ethics, "Almost every public servant is governed by certain basic Code of Conduct which includes expectation that he shall maintain absolute integrity... manage his financial affairs in such a manner that he is always free from indebtedness, and not involve himself in transactions relating to property with persons having official dealings with him." Please note that seeking building permissions, bank loans, hotel licenses, etc. etc. are all transactions with the government, administration and public sector, who all have "official dealings" with a high court judge in his judge-like capacity. Such transactions adulterate the purity of Justice Indrajit Mahanty's judgment.
According to the Restatement of Values of Judicial Life (adopted by Full Bench of Supreme Court on7th May, 1997), "A Judge should not engage directly or indirectly in trade or business, either by himself or in association with any other person.
And according to the Bangalore Principles of Judicial Conduct, 2002, "A judge shall not only be free from inappropriate connections with, and influence by, the executive and legislative branches of government, but must also appear to a reasonable observer to be free therefrom."
Read all these documents on judicial ethics and in that context, understand the significance of Justice I Mahanty's actions. Justice Indrajit Mahanty may or may not have broken any laws, but he is definitely in breach of ethics on multiple counts.
So, must we all remain silent like Gandhiji's three monkeys? Must we all adopt a policy of See-no-evil, hear-no-evil, speak-no-evil when it comes to judges? Must the adulteration of our judicial services be allowed to continue under cover of a conspiracy of silence?
ISSUED IN PUBLIC INTEREST BY
Posted By Sulaiman Bhimani 9323642081 email@example.com
Earlier articles on this topic: