LEGAL NOTICE TO APPOINT ARBITRATOR IN CASE OF DISPUTE ARISING OUT OF LOAN AGREEMENT EXECUTED BETWEEN BORROWER & BANK
LEGAL NOTICE TO APPOINT ARBITRATOR IN CASE OF DISPUTE ARISING OUT OF LOAN AGREEMENT EXECUTED BETWEEN BORROWER & BANK.
Regd. A.D/Speed Post/ Courier
Dated: …………
1. _______________ Bank Ltd.
Address:__________________________
Duly represented by its __________________
Addressee No.__
2. _______________ Bank Ltd.
Address:__________________________
Duly represented by its __________________
Addressee No.__
Subject: Legal Notice invoking Clause No.____ of the Loan Agreement dated ______ executed between M/s _________ Bank Limited and M/s _______________.
Dear Sir,
Under instructions from on behalf of my Client M/s _______________ having its registered office at ______________ (hereinafter referred to as “my Client”. I hereby serve upon you the following Legal Notice invoking Clause No.________ of the Loan Agreement dated _________ executed between M/s __________ Bank Limited and M/s ______________.:-
(1) That in the month of _______, M/s __________ had through a broker Mr. __________ approached Mr. __________ (who is the Director of my Client(s)) to purchase a “Residential Apartment” in the “________Residential Apartment” Complex”. That Mr. __________ thereafter visited the office of M/s __________ on _______ to enquire more about the said “________Residential Apartment” Complex”. That during the visit of Mr. __________ in the office of M/s __________, he met Mr. __________ and Mr. __________ both __________ of M/s __________, and it was assured and represented by them to Mr. __________ that the Completion Certificate of the buildings known as “________Residential Apartment” Complex” which consisted of about ___ Apartments have already been granted by the Architect in _______, and it was further assured and represented to Mr. __________ that M/s __________ have already submitted to the Director Town and Country Planning, Haryana, a formal Application for issuance of Occupation Certificate as per the Rules. It was also assured and represented by M/s __________ to Mr. __________ that the Commissioner Municipal Corporation _______, have already issued No Objection Certificate for Occupation of the “________ Residential Apartment Complex” in the month of ________. It was assured that the Super Area of the said Residential Apartment at the time of launch was estimated at ________ sq.ft. and the same has now increased to ________ sq.ft. and have been frozen at ________ sq.ft.
2) That M/s __________ through the said officers namely Mr. __________ and Mr. __________ further assured & represented to Mr. __________ representing my Client(s) that M/s __________ shall also finance the said “Residential Apartment” and shall grant a loan to my Client(s) after the execution of the Apartment Buyers Agreement between M/s __________ and my Client(s). The said officers Mr. __________ and Mr. __________ also further assured and represented to my Client(s) that in case my Client(s) is willing to purchase the said “Residential Apartment” in ________Residential Apartment” Complex from M/s __________, then M/s __________ will finance loan for the said “Residential Apartment” as per the eligibility of my Client(s) and the said loan amount will be released by M/s __________ to M/s __________ after the confirmation of the Allotment of the “Residential Apartment” by M/s __________ in favour of my Client(s), and after my Client(s) have made payment of the total Sales Consideration minus the Sanctioned Loan Amount to M/s __________ from its own contribution.
3) That thereafter one Mr. ______, ______, the Representative of M/s __________ approached Mr. __________, (representing my Client(s)) at his office at ____________________, who also represented, assured and promised to my Client(s) that once my Client(s) has booked the Apartment with M/s __________, the Sanctioned Loan Amount shall be released by M/s __________ to M/s __________ only after the performance of the following conditions:-
a) My Client(s) having made the payment of total Sales Consideration minus Sanctioned Loan Amount from its own contribution to M/s __________.
b) The confirmation of allotment of the “Residential Apartment” by M/s __________ in favour of my Client(s).
c) The Apartment Buyer’s Agreement or the Conveyance Deed in respect of the said “Residential Apartment” (which is a title document of the said “Residential Apartment”) is executed by M/s __________ with my Client(s).
d) The said “Residential Apartment” Buyer’s Agreement or the Conveyance Deed is deposited as equitable mortgage with M/s __________ by way of Security against release of Sanctioned Loan Amount of the “Residential Apartment” by M/s __________ to M/s __________ on behalf of my Client(s).
4) That believing and relying upon the representations, assurances and promises of M/s __________, my Client(s) was lured/induced to purchase the said “Residential Apartment” from M/s __________ AND further believing and relying upon the representations, assurances, and promises of Mr. OP, DSA the Representative of M/s __________, my Client(s) was lured / induced to take a loan from M/s __________ to partly finance the purchase of the said “Residential Apartment” from M/s __________.
5) That believing and relying upon the representations and assurances of M/s __________, my Client(s) agreed to purchase from M/s __________ an Apartment No.____, admeasuring ________ sq.ft. in ______________, admeasuring ________ sq.ft. at ‘________’ “Residential Apartment” Complex, _____________, _______ at the Basic Sale Price (inclusive of EDC/IDC & Parking) of Rs._______/- per sq.ft. plus IBMS @Rs._______/- per sq.ft. i.e. for a total sales consideration of Rs._______/- comprising of total Basic Sale Price (inclusive of EDC/IDC & Car Parking) of Rs. _______/- plus a further amount of Rs._______/- towards payment of IBMS plus bulk electricity charges and other charges as applicable at the time of possession of the “Residential Apartment” (hereinafter referred to as the said “Residential Apartment”). It was agreed that the total sales consideration of Rs._______/- comprising of total Basic Sale Price (inclusive of EDC/IDC & Car Parking) of Rs. _______/- plus a further amount of Rs._______/- towards payment of IBMS plus bulk electricity charges and other charges as applicable at the time of possession of the said “Residential Apartment”) shall be paid by my Client(s) to M/s __________ under an Interest Free Installment Plan.
6) That thereafter on the same day i.e. on _______, my Client(s) submitted to M/s __________, an Application Form and also made a payment of Rs._______/- (Rupees _______ only) to M/s __________ towards the booking amount vide post dated Cheque No._______ dated _______ drawn on __________________________, and in favour of __________ and M/s __________ issued its official Receipt No._______ dated _______ in favour of my Client(s) in acknowledgment and receipt of the said amount of Rs._______/- towards booking amount for the said “Residential Apartment” from my Client(s)
7) That thereafter M/s __________ issued to my Client(s) a Provisional Letter of Allotment dated _______. That as per the Provisional Letter of Allotment dated _______, a Provisional Allotment of the said “Residential Apartment” was made by M/s __________ to my Client(s) subject to Petitioner executing Apartment Buyer’s Agreement on Company’s Format. That M/s __________ never provided to my Client(s) any Apartment Buyer’s Agreement on Company’s format and hence no Apartment Buyer’s Agreement was executed between M/s __________ and my Client(s). It is submitted that M/s __________ agreed to sell to my Client(s) a Fully Finished and Completed “Residential Apartment” for which Completion Certificate in Statutory Form BR-V had already been issued by the Architect of M/s __________ in _______. It is further submitted that Commissioner Municipal Corporation _______ have vide Office Memo No. _______ dated _______, granted No Objection Certificate for occupation of the Buildings in which the said “Residential Apartment” is situated. It is further submitted that the Occupation Certificate of the buildings in which the said “Residential Apartment” is situated was also granted by the Directorate of Town and Country Planning, __________________ vide Memo No._______ dated _______.
8) It is submitted that M/s __________ did not execute any Apartment Buyers Agreement with my Client(s) even till date.
9) That as per the “Provisional Letter of Allotment dated _______”, M/s __________ allotted to my Client(s), the said “Residential Apartment” for a total Basic Sale Price (inclusive of EDC/IDC & Car Parking) of Rs._______/- plus a further amount of Rs._______/- towards payment of IBMS plus bulk electricity charges and other charges as applicable at the time of possession of the said “Residential Apartment”. That the aforesaid Total Sales Consideration of Rs._______/- Plus Bulk Electricity and other charges as applicable at the time of possession was payable by my Client(s) to M/s __________ under an Interest Free Instalment Plan. M/s __________ attached the said Interest Free Payment Plan with the Provisional Letter of Allotment dated _______. It is submitted that while splitting the Total Sales Consideration of Rs._______/-Plus Bulk Electricity and other charges as applicable at the time of possession under the Interest Free Instalment Plan which was attached with the Provisional Letter of Allotment dated _______, M/s __________ with an intent to cheat and extort extra money from my Client(s), committed a calculation / mistake of Rs._______ and therefore instead of making an Interest Free Instalment Plan from total sales consideration of Rs._______/-Plus Bulk Electricity and other charges as applicable at the time of possession, my Client(s) made an Interest Free Instalment Plan of Rs._______ Plus Bulk Electricity and other charges as applicable at the time of possession. Therefore M/s __________ with an intent to cheat and extort extra money from my Client(s) committed a calculation error / mistake of Rs._______ (i.e. Rs. _______ - Rs._______/-).
10) That thereafter, Mr. OP, DSA, the Representative of M/s __________ visited the office of my Client(s) on _______ at his office at ____________________ & informed my Client(s) that a loan of Rs._______ have been sanctioned by M/s __________ vide Letter Ref. No. _______ dated ________ subject to various terms and conditions mentioned in the said Sanction Letter dated _______. That on the said date i.e. _______, the said Mr. OP DSA, the Representative of M/s __________ had in good faith got signed from my Client(s) the said Sanction Letter dated _______ & Blank Bank Loan Agreement with blank columns and various other connected blank loan documents on behalf of M/s __________ from my Client(s) for disbursement of the loan amount of Rs._______ crores to M/s __________ on behalf of my Client(s). Mr. OP also in good faith got signed from my Client(s) blank ECS transfer Mandate Forms to be presented by M/s __________ to the _______ Bank Account of my Client(s) for payment of EMI. That M/s __________ also got signed from my Client(s) a blank Tripartite Agreement with blank columns executed between M/s. __________, M/s __________ & my Client(s). My Client(s) requested the said Mr. OP to provide to my Client(s) a copy of the said Sanction Letter dated _______ and copies of Blank Loan Agreement and other connected blank documents which he got signed from my Client(s). However, Mr. OP, DSA, of M/s __________ assured and promised that he would provide to my Client(s) in ___ days, the copies of the said Sanction Letter dated _______ & copies of the duly signed Blank Loan Agreement, and all other duly signed blank documents as are requested by my Client(s).
11) That while signing the Sanction Letter dated _______ and blank document of the Loan Agreement containing blank columns between M/s __________ and my Client(s), and also while signing the blank Tripartite Agreement executed between M/s __________, my Client(s) and M/s __________, my Client(s) made it very clear to the representative of M/s __________ that my Client(s) is signing blank document of the Loan Agreement, with the conditions that the loan will be released by M/s __________ on behalf of my Client(s) only subject to the following:-
i) My Client(s) having made the payment of total Sales Consideration minus Sanctioned Loan Amount from its own contribution to M/s __________.
ii) The confirmation of allotment of the “Residential Apartment” by M/s __________ in favour of my Client(s).
iii) The Apartment Buyer’s Agreement or the Conveyance Deed in respect of the said “Residential Apartment” (which is a title document of the said “Residential Apartment”) is executed by M/s __________ with my Client(s).
iv) The said “Residential Apartment” Buyer’s Agreement or the Conveyance Deed is deposited as equitable mortgage with M/s __________ by way of Security against release of Sanctioned Loan Amount of the “Residential Apartment” by M/s __________ to M/s __________ on behalf of my Client(s).
My Client(s) also requested and made it clear to the representative of M/s __________ that after the blank columns are filled-in in the blank document of the Loan Agreement signed by my Client(s), and also after the blank columns are filled in the blank Tripartite Agreement after the execution of the Apartment Buyer’s Agreement by M/s __________ with my Client(s), M/s __________ will inform my Client(s) of the same & provide copies of the same to my Client(s). The representative of M/s __________, represented, assured and promised to my Client(s) that the loan will be released by M/s __________ to M/s. __________ subject to the following conditions :-
i) My Client(s) having made the payment of total Sales Consideration minus Sanctioned Loan Amount from its own contribution to M/s __________.
ii) The confirmation of allotment of the “Residential Apartment” by M/s __________ in favour of my Client(s).
iii) The Apartment Buyer’s Agreement or the Conveyance Deed in respect of the said “Residential Apartment” (which is a title document of the said “Residential Apartment”) is executed by M/s __________ with my Client(s).
iv) The said “Residential Apartment” Buyer’s Agreement or the Conveyance Deed is deposited as equitable mortgage with M/s __________ by way of Security against release of Sanctioned Loan Amount of the “Residential Apartment” by M/s __________ to M/s __________ on behalf of my Client(s).
M/s __________ also assured to my Client(s) that the copy of the Loan Agreement after blank columns are filled at the appropriate time shall be supplied by M/s __________ to my Client(s). M/s __________ also assured to my Client(s) that the copy of the Tripartite Agreement after blank columns are filled at the appropriate time shall also be supplied by M/s __________ to my Client(s).
12) That thereafter, my Client(s) was waiting for M/s __________ to confirm the allotment of the said “Residential Apartment” & to send Apartment Buyers Agreement of the said “Residential Apartment” to my Client(s) for execution but no such Apartment Buyer’s Agreement was sent by M/s __________ to my Client(s). It is submitted that contrary to the representations, assurances & promises of M/s __________ which M/s __________ made to my Client(s), M/s __________ in connivance and conspiracy with M/s __________ unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ without even waiting for the confirmation of the allotment of the said “Residential Apartment” by M/s __________ in favour of my Client(s)& without even waiting for the execution of the Apartment Buyers Agreement by M/s __________ with my Client(s) (which was a precondition of the Provisional Letter of Allotment dated _______), and without even taking the custody of the Apartment Buyer’s Agreement or the Conveyance Deed by of Security for the Loan disbursement which was also a pre condition of Clause No.__ and Clause No.__ of the Sanction Letter dated _______, and also a pre condition of Article No.__ of the Loan Agreement dated _________ and also a pre condition of Clause No.__ and Clause No.__ of the Tripartite Agreement dated _______.
13) That before disbursing the Loan Amount of Rs._______/- to M/s __________, M/s __________ also did not wait for my Client(s) to make payment of its own contribution i.e. to make payment of the balance sales consideration of Rs._______ (i.e. the Total Sales Consideration of Rs._______/- minus booking amount Rs._______/- minus Sanctioned Loan Amount of Rs._______/-) by my Client(s) to M/s __________. It is submitted that it has never happened in the history of any Bank that the Bank releases loan amount without any security of deposit of Title Deeds by the Borrower and without the discharge by my Client(s) of its own liability to pay its own contribution i.e. in this case to pay the balance sales consideration of Rs._______ (i.e. the Total Sales Consideration of Rs._______/- minus booking amount Rs._______/-minus Sanctioned Loan Amount of Rs._______/-) from its sources of my Client(s) to M/s __________. It is surprising that M/s __________ have released loan instalment of Rs._______/- to M/s __________ on _______, without waiting for the execution of the Apartment Buyer’s Agreement by M/s __________ with M/s __________, which was also a pre condition of Clause No.__ and Clause No.__ of the Sanction Letter dated _______, and also a pre condition of Article No.__ of the Loan Agreement dated _________ and also a pre condition of Clause No.__ and Clause No.___ of the Tripartite Agreement dated _______.M/s __________ also did not wait for my Client(s) to discharge its prior obligation of making payments of its own contribution i.e. payment of balance sales consideration of Rs._______ (i.e. the Total Sales Consideration of Rs._______/- minus booking amount Rs._______/- minus Sanctioned Loan Amount of Rs._______/-) to M/s __________ from its own sources, which was a precondition of Clause No.__ of the Sanction Letter dated _______ and also a precondition of Clause No.__ of the Loan Agreement dated _________. It is submitted that no bank would ever do it and since the same has been done by M/s __________ obviously it has been done by M/s __________ in connivance with M/s __________ for ulterior motives. It is thus clear that both M/s __________ and M/s __________ had an intent ri__________t from the very beginning to commit forgery, 420, to cheat, defraud and extort extra money from my Client(s) with an intent to cause wrongful loss to my Client(s) and wrongful gains to M/s __________ and M/s __________. It is submitted that the intimation with regard to the fraudulent, unauthorized & illegal disbursement of loan of Rs._______/- came to the knowledge of my Client(s) from the email dated _______ of M/s __________.
14) That it was clear that both M/s __________ & M/s __________ in connivance with each other hatched a very well planed and deep rooted conspiracy to commit forgery & to cheat, defraud, and extort extra money from my Client(s) so as to cause wrongful loss to my Client(s) and wrongful gain to M/s __________ and M/s __________ The said Respondent unauthorisidely, illegally and fraudulently disbursed a loan of Rs._______/- to M/s __________ without waiting for the confirmation of allotment of the said “Residential Apartment” by M/s __________ and without even waiting for the execution of Apartment Buyer’s Agreement or Conveyance Deed by M/s __________ in favour of my Client(s). That M/s __________ did not wait even for the execution of the Apartment Buyer’s Agreement or Conveyance Deed of the said “Residential Apartment” by M/s __________ with my Client(s), and without even waiting for my Client(s) to release to M/s __________ its own contribution i.e. payment of the balance Sales Consideration of Rs._______ payable by my Client(s) from its own sources. The said amount of Loan Installment of Rs._______/- otherwise could not have been disbursed by M/s __________ to M/s __________ without taking the Security of Apartment Buyer’ Agreement or Conveyance Deed of the said “Residential Apartment” but it was done so by M/s __________ unauthorisedly, illegally and fraudulently only in connivance with M/s __________, both of whom have right from the very beginning intended to commit forgery, to cheat, defraud and extort extra money from my Client(s) so as to cause wrongful loss to my Client(s) and wrongful gain to M/s __________ and to M/s __________. It is submitted that the said disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______. It is submitted that this was done by M/s __________ under a deep-rooted conspiracy hatched both by M/s __________ and M/s __________ in connivance with each other with an intent to commit forgery, fraud, cheating and extort extra money from my Client(s).
15) That thereafter, M/s __________ sent a letter dated _______ to my Client(s) demanding from my Client(s) the payment due till _______ amounting to Rs._______. It is submitted that my Client(s) was surprised to note that the Demand Letter dated _______ demanding an amount of Rs._______ was erroneous and forged as according to the Provisional Letter of Allotment dated _______, the actual amount which could have been demanded by M/s __________ from my Client(s) would have been of Rs._______/- and not Rs._______. It is therefore clear that with an intent to cheat and extort extra / excess amount of Rs._______, M/s __________ issued an erroneous Demand Letter to my Client(s).
16) That my Client(s) requested M/s __________ to issue a correct Demand Letter in place of the erroneous Demand Letter dated _______. That while my Client(s) was waiting for a correct Demand Letter in place of erroneous and forged Demand Letter dated _______, M/s __________ with a view to extort further money from my Client(s), to cause further wrongful loss to my Client(s) and further wrongful gain to M/s __________ sent a very shocking and surprising Final Demand Letter dated _______ to my Client(s) to extort from my Client(s) an excess amount of Rs._______/- (i.e. Rs._______/- - Rs._______/-), by demanding balance sales consideration of Rs._______/- as against the balance due sales consideration of Rs. _______/- (i.e. excess amount of Rs._______/-) within a period of ___ days from the date of the letter i.e. by _______. That the said Demand Letter dated _______ sent by M/s __________ to my Client(s) was totally contrary to and against the promises, assurances and representations made by M/s __________ to my Client(s) vide their Provisional Letter of Allotment dated _______, as well as their erroneous and forged Demand Letter dated _______ which was sent by M/s __________ to my Client(s) less than a month before the letter dated _______.
17) That my Client(s) thereafter requested M/s __________ to provide to my Client(s) clarifications/ certification/documents relating to the illegal excess demand of Rs._______/-. That on _______ bonafidely and faithfully my Client(s) through its Director, Mr. __________, had from his Mobile No._______ called M/s __________ on M/s __________’s telephone number ______ and the call was attended to by a representative of the Sales Department of M/s __________. My Client(s) told the said Sales Representative that my Client(s) had not received any amended Demand Letter, but the said Sales Representative of the Company was very rude to my Client(s) and told to my Client(s) “WE ARE BUILDERS AND WE ONLY TAKE MONEY AND IF RESPONDENT DO NOT PAY WE ONLY CANCEL THE APARTMENT AND FORFEIT THE MONEY”. Thereafter, my Client(s) most humbly told the said Sales Representative that M/s __________ cannot do like this as M/s __________ has to act within the four corners of law of the country”. That thereafter the said Sales Representative of M/s __________ threatened my Client(s) that once the date of _______ is over, M/s __________ will cancel the allotment of said “Residential Apartment”, to my Client(s) and forfeit the money paid by my Client(s) and M/s __________ will allot said “Residential Apartment” to any third party and thereafter the said Sales Representative of M/s __________ abruptly disconnected the phone.
18) That now it became clear that a very well planned and deep rooted conspiracy of Fraud, 420, Cheating, forgery and extortion has been hatched both by M/s __________ and M/s __________ in connivance with each other with an intent to commit forgery, fraud, cheating and extort extra money from my Client(s). That M/s __________ cheated and defrauded my Client(s) by unauthorizedly & illegally disbursing a Loan amount of Rs._______/- to M/s __________, in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
19) That in respect of the illegal and erroneous demand raised by M/s __________ on my Client(s) vide Letter dated _______, my Client(s) filed a Suit for Declaration & Permanent Injunction dated _______ against M/s __________ before the Ld. Trial Court being Civil Suit No._______ of _______ in which a Stay Order dated _______ had been granted by the Ld. ACJM _______, whereby the Ld. ACJM _______ restrained M/s __________ from cancelling the allotment of my Client(s) regarding property i.e the "said Residential Apartment" and creating third party interest over the same till next date of hearing. The Stay Order dated _______ is reproduced as under:-
“Present :Sh. ___________, Adv. for Petitioner.
Sh. ______________, Adv. for defendant.
“An application under Sections 5 and 8 of the Arbitration and Conciliation Act. 1996 on behalf of defendant has been filed. Copy given. Reply to this application be filed on ___________. Heard. Defendant is restrained from cancelling the allotment of my Client regarding suit property and creating third party interest over the same till next date of hearing.
(______________)
CJ(SD), ____________”
The above Stay Order continued against M/s __________. That M/s __________ filed an Appeal dated _______ against the said Interim Order dated _______ in the court of Ld. ADJ, _______ which was later on withdrawn by M/s __________ vide order dated _______. It is submitted that in the above Suit M/s __________ filed an Application under Order 1 Rule 10 CPC dated _______ for impleadment with the following prayer:-
“In view of the facts and circumstances as mentioned above and in the interest of justice it is most respectfully prayed that this Hon’ble Court may graciously be pleased to implead the Applicant as party (Defendant) in the present case and, and/or Any other relief which this Hon'bre court may deem fit and proper may kindly be passed in favour of the Applicant”
20) That it is submitted that in the above Civil Suit, an Application under section 5 and section 8 of the Arbitration and Conciliation Act was filed by M/s __________ for referring the dispute to the Sole Arbitration of the Company Secretary of M/s __________, but the said Application was dismissed by the Ld. Civil Judge, _______ vide order dated _______.
21) That against the aforesaid Order dated _______, a Civil Revision No._______ dated _______ was filed by M/s __________ before the Hon’ble __________ High Court. That vide Order dated _______, the Hon’ble __________ High Court was pleased to dispose of the above Civil Revision No._______ by referring this matter for adjudication to the Sole Arbitrator Shri _______ Hon’ble Justice (Retd.) of _______ High Court & the Arbitration proceedings are pending before the Hon’ble Arbitration Tribunal. That in view of the order dated _______ of the Hon’ble __________ High Court in Civil Revision No._______, the Civil Suit filed by my Client(s) against M/s __________ was dismissed by the Ld. Trial Court vide order dated _______.
22) That the Arbitration Proceedings have already commenced before the Sole Arbitrator Shri _______ Hon’ble Justice (Retd.) of _______ High Court. In the said Arbitration Proceedings my Client(s) have filed its Statement of Claim dated _______ and M/s __________ have also filed its Written Statement dated ________.
23) That by now my Client(s) realized that M/s __________ under the garb of sanctioning / disbursing loan have conspired and connived with M/s __________ under a deep rooted conspiracy to play fraud, 420, and forgery and cheating with the my Client(s) with the sole objective to extort money from my Client(s) by illegally, fraudulently and unauthorizedely disbursing the amount of Rs._______/- to M/s __________ on behalf of my Client(s) so as to cause wrongful loss to my Client(s) and wrongful gains to M/s __________ and M/s __________ without waiting for M/s __________ to confirm the Allotment of the said “Residential Apartment” to my Client(s) and without even waiting for M/s __________ to execute Apartment Buyers Agreement or Conveyance Deed of the said “Residential Apartment” in favour of my Client(s).
24) That thereafter vide Letter dated _______, my Client(s) requested M/s __________ to provide to my Client(s), the title documents relied upon by M/s __________ to disburse Loan Amount to M/s __________ and instead of replying the letter dated _______ of my Client(s), M/s __________ in order to put fear of injury in my Client(s), have through Advocate and consultants called _________, ____________________, sent Legal Notice dated _______, and _______ conveying /sending various illegal threats to my Client(s) with the sole objective to put fear of injury in my Client(s) to further extort money from my Client(s). It is submitted that though my Client(s) became victim of further extortion of money by M/s __________ in pursuance to the Legal Notice dated _______ but thereafter, on receipt of further Legal Notice dated _______, my Client(s) have through its Advocate Mr. ________ sent reply dated _______ to the Legal Notice dated _______ sent by M/s __________ to my Client(s) through Legal Consultus. That M/s __________ have under the garb of EMI already extorted an amount of Rs._______/- from my Client(s) during the period _______ to ______ through the blank ECS Mandate Forms fraudulently got signed by M/s __________ from my Client(s) through forgery and fraud committed by M/s __________ in connivance with M/s __________ under a very well planed and a deep rooted conspiracy. Since the Loan Amount of Rs._______/- was illegally, fraudulently and unauthorisidely disbursed by M/s __________ to M/s __________ under a deep rooted conspiracy hatched by M/s __________ and M/s __________ in connivance with each other to commit fraud, forgery, and extort money from my Client(s) in good faith, the ECS Mandate Forms fraudulently obtained by M/s __________ from my Client(s) could not have been presented by M/s __________ to the _______ Bank account of my Client(s) for payment of EMI. It is submitted that M/s __________ went on presenting fraudulently obtained ECS Mandate Forms every month from April _______ to _______ to _______ Bank Account of my Client(s) for extortion of money of Rs._______/- from my Client(s) under the garb of EMI.
24.1) That it is settled law that civil and criminal litigation can go together and /or side by side, while my Client(s) have firstly initiated civil proceedings against M/s __________, however, WITHOUT PREJUDICE TO MY CLIENT(S)’S RIGHTS,
(a) My Client(s) sent a letter dated _______ calling upon M/s __________ to rectify their action of extortion committed by them with my Client(s) in connivance with M/s __________ under a very well planned and deep rooted conspiracy hatched both by M/s __________ and M/s __________ to commit forgery to cheat, defraud and extort money from my Client(s) so as to cause wrongful loss to my Client(s) and wrongful gain to M/s __________ and to M/s __________, and vide the said letter dated _______, my Client(s) called upon M/s __________ to rectify its action of Fraud, 420, Cheating, forgery and extortion of money of Rs._______/- extorted by M/s __________ from my Client(s) during April, _______ to _______ under the garb of collection of EMI through the fraudulently obtained ECS Mandate Forms from my Client(s). That M/s __________ illegally, unauthorisedly and fraudulently disbursed an amount of Rs._______/- to M/s __________ on behalf of my Client(s) without the consent of my Client(s) and without the Security of Apartment Buyer’s Agreement, and without waiting for my Client(s) to discharge its obligation of payment of Rs._______ to M/s __________ from its own sources. Against the said fraudulently disbursed amount of Rs._______/-, M/s __________ have already extorted an amount of Rs._______/- from my Client(s) from April, _______ to _______ under the garb of EMI, through the fraudulently obtained ECS Forms and hence my Client(s) is willing to refund the net amount of Rs._______/- (i.e. Rs._______/- – Rs._______/-), to M/s __________ on receiving a written confirmation from M/s __________ in this regard.
(b) My Client(s) also called upon the Respondent not to present any further blank ECS forms fraudulently obtained by M/s __________ from my Client(s) in good faith under the garb of payment of EMI for illegally, fraudulently and unauthorizedly disbursing Loan amount of Rs._______/- by M/s __________ to M/s __________, and in case any such ECS form is presented for encashment by M/s __________, this will tantamount to further forgery, cheating fraud and extortion of money by M/s __________ from my Client(s) and the same will not be honoured by _______ Bank of my Client(s).
(c) That my Client(s) also notified vide the said letter dated _______ that if my Client(s) failed to receive any reply / response from M/s __________ & M/s __________ on their action of rectifying the action of Fraud, 420, Cheating, forgery and extortion of money committed by them with my Client(s) so as to cause wrongful loss to my Client(s) and wrongful gains to M/s __________ and M/s __________ as mentioned in the said letter dated _______, my Client(s) shall be left with no other option but to lodge an FIR under the provisions of IPC with the concerned Police Authorities and /or file Criminal Complaint before the concerned Illaqua Magistrate against M/s __________ & M/s __________ and their Directors/ Officers / Representatives as may be advised at the risks and costs of M/s __________ And M/s __________ and their Directors/ Officers / Representatives.
24.2) That my Client(s) did not receive any reply either from M/s __________ in response to its letter dated _______.
24.3) That while my Client(s) reserved its right to initiate appropriate criminal proceedings including lodging of FIR and/or filing of criminal complaint against M/s __________ & M/s __________, my Client(s) being worried that M/s __________ shall continue to present blank ECS Forms (fraudulently obtained by M/s __________ from my Client(s)) to the _______ Bank of my Client(s) from _______ onwards also which would cause further wrongful loss & irreparable injury to my Client(s), my Client(s) was left with no other option but to file a Suit for Permanent Injunction against M/s __________, being Civil Suit No._______ of _______ with the following prayers:-
“In view of what has been stated hereinabove, it is therefore most kindly prayed that this Hon’ble Court may kindly be pleased to
(a) Pass a decree of Permanent Injunction in favour of my Client and against M/s _________ Bank Ltd. their Directors / Managers / Agents and anyone one acting for and on their behalf, thereby restraining them from presenting any blank ECS forms fraudulently obtained by Respondent from my Client to the Syndicate Bank of my Client towards EMI for the repayment of the loan of Rs.___________/- unauthorisedly, illegal & fraudulently disbursed by M/s ____________ Bank Ltd. to Respondent,
(b) Pass a decree of Mandatory Injunction in favour of my Client and against M/s _____________ Bank Ltd. their Directors / Managers / Agents and anyone one acting for and on their behalf, thereby commanding /directing them to handover all the unutilized blank ECS Forms to my Client.
(c) Award the cost of the suit in favour of our Comapny.
(d) Pass any other order / orders that this Hon’ble Court may deem fit and proper, in the given facts and circumstances of the case, in the interest of Justice”
The above Civil Suit is still pending adjudication.
24.4) That in the aforesaid Suit, M/s __________ filed its Written Statement to the Plaint of my Client(s) on _______, and M/s __________ alongwith the Written Statement filed various documents mentioned in the Written Statement. Besides other documents, M/s __________ filed a document known as “Loan Agreement” dated _______. That after examining the said “Loan Agreement” dated _______, my Client(s) was shocked & surprised to note that the blank loan document containing blank columns got signed by the Representative of M/s __________ on _______ was forged and fabricated by M/s __________ by filling the blank columns with false entries/insertions which are far from the actual facts. That on a detailed examination of the said “Loan Agreement” dated _______, my Client(s) was shocked & surprised to learn that a Institution like a Bank working under the direct control of RBI can go to the extent of playing a big fraud with my Client(s) by forging & fabricating blank documents got signed from my Client(s) in good faith, by filling false entries/insertions, thereby causing grave injury and wrongful loss to my Client(s) with the sole objective to cause wrongful gain to M/s __________ under the garb of increasing its business. My Client(s) realized that my Client(s) has become a victim of fraud, cheating, 420 & forgery by M/s __________ under a deep rooted conspiracy hatched by M/s __________ in connivance with M/s. __________ The fraud, forgery and fabrication played by M/s __________ with my Client(s) in the Loan Agreement dated _________ has been elaborated in the succeeding paragraphs.
24.5) It is further submitted that in the Arbitration Proceedings pending between M/s. __________ & my Client(s) before Hon’ble Justice, Mr. _______, Hon’ble Justice (Retired), _______ High Court, my Client(s) filed a Statement of Claim and in reply to the same, M/s. __________ filed its Written Statement dated _______, a copy of which was served on my Client(s) on _______. That alongwith the Written Statement M/s. __________ filed various documents and in the said documents M/s. __________ also filed a Tripartite Agreement dated _______ executed between M/s. __________, my Client(s) & M/s __________ . On a detailed examination of the said Tripartite Agreement dated _______, my Client(s) was once again shocked & surprised to learn that even the said Tripartite Agreement dated _______ was got signed blank from my Client(s) in good faith by M/s __________ in connivance with M/s. __________ fraudulently with blank entries. My Client(s) was shocked to learn that in the blank entries, M/s __________ in connivance with M/s. __________ have filled in/inserted false, forged & fabricated entries in the blank columns. This further proves beyond any doubt that M/s __________ is habitual of playing fraud, forgery & fabrication with an intent to cheat/cause grave injury & wrongful loss to my Client(s) & wrongful gains to M/s __________ & M/s. __________. The fraud, forgery & fabrication played by M/s __________ in connivance with M/s. __________ in the Tripartite Agreement dated _______ have been elaborated hereinafter in the succeeding paragraphs.
24.6) SEQUENCE OF EVENTS RELATING TO FRAUDULENT, FALSE, FORGED AND FABRICATED LOAN AGREEMENT DATED _________ AND FRAUDULENT, FALSE, FORGED AND FABRICATED TRIPARTITE AGREEMENT DATED _______.
It is submitted that in order to appreciate that the said “Loan Agreement” dated _______ and the said Tripartite Agreement dated _______ are false, forged & fabricated documents, my Client(s) is describing hereunder the following sequence of events:-
That M/s __________ issued a Sanction Letter dated _______ to my Client(s) sanctioning a loan of Rs._______/- as per the terms and conditions in the said Sanction Letter dated _______
That on the same day, M/s __________ fraudulently got signed from my Client(s) at his office at _____________ _______ blank document of the Loan Agreement (which is later on made dated _________ by M/s __________) containing blank columns, however, my Client(s) signed the same in good faith with the condition that the Loan amount shall be released by M/s __________ to M/s __________ subject to the performance of the following conditions:-
i) My Client(s) having made the payment of total Sales Consideration minus Sanctioned Loan Amount from its own contribution to M/s __________.
ii) The confirmation of allotment of the “Residential Apartment” by M/s __________ in favour of my Client(s).
iii) The Apartment Buyer’s Agreement or the Conveyance Deed in respect of the said “Residential Apartment” (which is a title document of the said “Residential Apartment”) is executed by M/s __________ with my Client(s).
iv) The said “Residential Apartment” Buyer’s Agreement or the Conveyance Deed is deposited as equitable mortgage with M/s __________ by way of Security against release of Sanctioned Loan Amount of the “Residential Apartment” by M/s __________ to M/s __________ on behalf of my Client(s).
That on the same day M/s __________ also fraudulently got signed from my Client(s) at his office at _____________ _______, a blank Tripartite Agreement (which later on was made dated _______ by M/s __________) containing blank columns, executed between M/s. __________, my Client(s) & M/s __________ which was signed by my Client(s) subject to the condition that the same shall be operative only after the execution of the Apartment Buyer’s Agreement by M/s __________ with my Client(s) and thereafter the blank columns will be filed in by M/s __________ in the said Tripartite Agreement. My Client(s) signed the same in good faith with the condition that the loan will be released by M/s __________ to M/s __________ only after the execution of the Apartment Buyer’s Agreement by M/s __________ with my Client(s). That M/s __________ assured to my Client(s) that the loan will be released by M/s __________ to M/s. __________ only after compliance of the following conditions :-
i) My Client(s) having made the payment of total Sales Consideration minus Sanctioned Loan Amount from its own contribution to M/s __________.
ii) The confirmation of allotment of the “Residential Apartment” by M/s __________ in favour of my Client(s).
iii) The Apartment Buyer’s Agreement or the Conveyance Deed in respect of the said “Residential Apartment” (which is a title document of the said “Residential Apartment”) is executed by M/s __________ with my Client(s).
iv) The said “Residential Apartment” Buyer’s Agreement or the Conveyance Deed is deposited as equitable mortgage with M/s __________ by way of Security against release of Sanctioned Loan Amount of the “Residential Apartment” by M/s __________ to M/s __________ on behalf of my Client(s).
24.7) The most vital & important clauses of the Loan Agreement dated _______ prima facie proving the fraud, forgery & fabrication played by M/s __________ with my Client(s) are reproduced as under :-
ARTICLE -3 – COVENANTS FOR SECURITY
“a) The Borrower covenants that the Dues being repayment of the Loan and payment of interest, additional/default interest, fees, commitment charges, costs, other charges and expenses and all other amounts payable to the Bank under this Agreement shall be secured or cause to be secured by such Security as determined by the Bank in its sole discretion. The Bank shall have the right to prescribe the type of security and the place, timing and the manner of its creation. Such security shall be created prior to the disbursement of the Loan. The Bank may during the term of this Agreement also require for the Borrower to create additional security and the Borrower undertakes to create or cause to create such additional security as and when called upon by the Bank. Without prejudice to the generality of the above, the Borrower shall create such additional security (a) in the event of the Dues (b) in the event of distruction or damage or depreciation or fall in value of any Security given to the Bank of the title of any such Security being unclear, unmarketable or encumbered in the opinion of the Bank or affecting the value of the Security in any manner whatsoever.
b) The Borrower ……………………………
……………………
c) The Borrower ……………………………….
…..…………
d) The Borrower ……………………………
….…………
e) The Borrower …………………………
……….………………………………………….
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………”
ARTICLE 4 – CONDITION FOR DISBURSEMENT
“Obligation of the Bank to make any disbursement under this Agreement shall be ……………………..……………………..
………………………………………………………………………………………………………………………………………………………………
Utilisation of Borrower’s Contribution: The Borrower shall have arranged for the reminder funds required for the purpose of the Loan (i.e. the cost of the Property less than Loan). The Borrower shall not borrow the same from any other person.”
CLAUSE NO.______ - ARBITRATION
Unless the same falls within the jurisdiction of the Debts Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institution Act, 1993 or any other competent authority for Debt related disputes constituted in any other law in future or which are in force, any and all claims and disputes arising out of or in connection with this Agreement or its performance shall be settled by arbitration by a single Arbitrator to be appointed by the Bank. The venue of arbitration shall be in either _______ or __________ or _____ or _________ or at the Concerned Branch at the sole discretion of the Bank. The arbitration shall be conducted under the provisions of the Arbitration and Conciliation Act, 1996 or any statutory modification or re-enactment thereof for the time being in force and the award of such Arbitrator shall be final and binding upon the Parties hereto.
CLAUSE NO.____ - JURISDICTION
In the event that the claim or dispute does not fall within the jurisdiction of the Debts Recovery Tribunal established under the Recovery of Debts Due to Banks and Financial Institution Act, 1993 for the purposes of arbitration mentioned in Clause ___ and subject to the provision of clause _____ above, the Courts aforesaid where the venue of arbitration is decided, or if law does not permit the same, the Courts of the city in which the concerned service branch of the Bank is situated, shall have exclusive jurisdiction in respect of any suit, petition, reference of other filing permitted or required to be made pursuant to the Arbitration and Conciliation Act, 1996 in respect of the matters arising out of this Agreement including without limitation, a petition for appointment of an arbitrator or arbitrators under section 11 of the Arbitration and Conciliation Act, 1996.
e) The most important & vital clauses of the Sanction Letter dated _______ prima facie proving the fraud, forgery & fabrication played by M/s __________ Bank Ltd. with my Client are reproduced as under :-
CLAUSE __
“The title of the security should be clear and marketable.”
CLAUSE ___
“Loan will be disbursed in stages on the basis of work progress certificate of the Technical Valuer (in case of construction) and directly to the seller OR to the Bank (In case of transfer or foreclosure from other Banks or Financial Institutions) OR Borrower (in case of refinance) on request from the borrower. No disbursement will be made unless proof of payment of Respondent own contribution, in the total cost of the Property is submitted.”
CLAUSE ___
“Appropriate Security acceptable to the Bank shall be created for disbursement”.
CLAUSE ____
“A Loan Agreement acceptable to the bank and other documents in relation thereof shall be executed by the Borrower. The terms and conditions of the Loan Agreement shall supersede all previous communications in respect of finance facility”
f) The most important & vital clauses of the Tripartite Agreement dated ________ prima facie proving the fraud, forgery & fabrication played by M/s ______________ Bank Ltd. with my Client are reproduced as under :-
Clause No.(____)of Preamble
The Party of the Second Part has agreed to buy an Apartment bearing No. _____________ Building in said Scheme/Project (hereinafter referred to as “the said Apartment”, which is fully described in the Schedule written hereunder) from the Party of the First Part and accordingly the Party of the First Part and the Party of the Second Part have entered into an Apartment Buyer’s Agreement on ---------------.
Clause No.(_____)of Preamble
The party of the Second Part and Party of Third Part have entered into Housing Loan Agreement and Party of the First Part and the Party of Second Part have entered into an Apartment Buyers’ Agreement.
Clause No.___
The Bank has agreed to give a loan amount of Rs.__________/- (Rupees __________ only) to the party of the Second Part, i.e. the borrower, in terms and in accordance with the Sanction letter dated ___________ and the Loan Agreement dated ________________.
Clause No.___
The borrower will also make the payment in consonance with the schedule of payment to the Party of the First Part; as per Apartment Buyer’s Agreement dated _________ entered between the Party of the First Part and the Party of the Second Part.
Clause No.___
The borrower desires that the Borrower’s Copy of the Apartment Buyer’s Agreement dated ________ entered into between the borrower and Party of the First Part shall be kept by the Bank in its safe custody till terms and conditions of grant of loan are complied with.
Clause No.____
In case of termination /cancellation of the Apartment Buyer’s Agreement for any reason whatsoever, the party of the First Part subject to the provisions of the Apartment Buyer’s Agreement shall refund to the party of third part i.e. Bank, the amount of loan directly disbursed by the Bank to the party of the first part. Further the parties agree that the Bank shall in no circumstances be entitled to refund of any amount over and above the amount equivalent to the Bank’s contribution paid to the Party of the First Part and any interest outstanding thereon. The balance, if any, over and above the forfeiture and other charges in terms of the Apartment Buyer’s Agreement, may also be refunded to the Bank.
Clause No.___
It is clearly agreed and understood that the party of the First Part shall be entitled to retain the non refundable earnest money, and/or any other amount which may be retained by the party of the First Part under the Apartment Buyer’s Agreement, the balance amount refundable under the Apartment Buyer’s Agreement shall be refundable to bank on behalf of the borrower and this will be a due discharge of the party of the first part. The borrower consents to the same.
Clause No.____
In case of any dispute or difference whatsoever arising among the parties out of or relating to the construction, meaning, scope operation or effect of this Agreement the Parties shall first endeavor to reach an amicable settlement through mutual consultations and negotiations. If the parties are unable to reach an amicable settlement within ___ days from the date on which dispute arose, such dispute shall be referred to arbitration, each party shall appoint one arbitrator. Such arbitration shall be conducted in accordance with the provisions of Arbitration and Conciliation Act, 1996 or any salutatory modification thereof. The language of the arbitration shall be English. The venue of arbitration shall be __________.
24.8) HOW THE LOAN AGREEMENT DATED _______ AND THE TRIPARTITE AGREEMENT DATED _______ ARE FRAUDULENT, FALSE, FORGED AND FABRICATED DOCUMENTS.
That it is submitted that on a perusal of the Loan Sanction Letter dated _______ and the Loan Agreement dated _______ and the Tripartite Agreement dated _______, my Client(s) realized that my Client(s) became a victim of the fraud, forgery and cheating committed by M/s __________ alongwith M/s __________ in connivance with each other under a deep rooted conspiracy hatched by M/s __________ & M/s __________ with a view to cause wrongful loss to my Client(s) and wrongful gain to the Respondent & M/s __________ in the month of March _______.
That the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents, is evident from the following:-
(i) That Clause No.__ of the Sanction Letter dated _______ provides that a Loan Agreement acceptable to the bank and other documents in relation thereof shall be executed by the Borrower. The terms and conditions of the Loan Agreement shall supersede all previous communications in respect of finance facility. As per Clause __ it is clear that a Loan Agreement was required to be executed which could be executed either on _______ or after _______, but the Loan Agreement which the bank is relying upon is dated _________, which beyond any doubt proves that the said Loan Agreement is forged and fabricated document. This is because as per Clause No.__ of the Sanction Letter dated _______, the Loan Agreement cannot be an already executed Loan Agreement dated _________ and the said Loan Agreement could only be executed either on _______ or after _______. This is a clear case of fraud, forgery and cheating committed by both M/s __________ and the in connivance with each other under a deep rooted conspiracy to cause wrongful loss to my Client(s) and wrongful gains to M/s __________ and Respondent and hence the disbursement of Loan Amount ofRs._______/- by M/s __________ to M/s __________ is unauthorised, illegal and fraudulent. This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
(ii) The Sanction Letter is dated _______ and as per Clause No.__ and Clause No.__ of the Sanction Letter dated _______ read with Article __ of the Loan Agreement dated _______, the disbursement of the Loan could have been made by M/s __________ to M/s __________ only after the bank has taken a Security acceptable to the Bank and in this case the said Security is the equitable mortgage of the said “Residential Apartment” i.e. either the Apartment Buyer’s Agreement or the Conveyance Deed of the said “Residential Apartment”. It is submitted that in the present case neither the Apartment Buyer’s Agreement has been executed by M/s __________ in favour of my Client(s) nor any Conveyance Deed of the said “Residential Apartment” has been executed by M/s __________ in favour of my Client(s). Therefore, in the absence of any title deeds to the said “Residential Apartment” the question of title of the security being clear and marketable do not arise. Further since there is no title of the security either in the form of Apartment Buyer’s Agreement or in the form of Conveyance Deed of the said “Residential Apartment”, therefore no loan could be disbursed by M/s __________ to M/s __________. This is a clear case of fraud, forgery and cheating committed by both M/s __________ and M/s __________ in connivance with each other under a deep rooted conspiracy to cause wrongful loss to my Client(s) and wrongful gains to M/s __________ and M/s __________ and hence the disbursement of Loan Amount of Rs._______/- by M/s __________ to M/s __________ is unauthorised, illegal and fraudulent. This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
(iii) That as per Clause No.__ of the Sanction Letter dated _______ read with Clause No.__ of the Loan Agreement dated _________, no amount of loan could be disbursed by M/s __________ to my Client(s) without prior payment of the own contribution by my Client(s) to M/s __________ i.e. payment of the balance Sales Consideration of Rs._______ payable by my Client(s) from its own sources to M/s __________. Since no such prior payment of Rs._______ was made by my Client(s) to M/s __________ from its own sources, therefore, Respondent could not have released the loan amount of Rs._______/- to M/s __________. This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
(iv) That a perusal of Clause No. _____ of the Preamble, Clause No. of the Preamble, Clause No.__, Clause No.__ and Clause No.__ of the Tripartite Agreement dated _______, makes it amply clear that there is an Apartment Buyer’s Agreement executed between M/s __________ and my Client(s) and the whole foundation of the Tripartite Agreement dated _______ is the Apartment Buyer’s Agreement executed between M/s __________ and my Client(s). It is however, an admitted case that even till date no Apartment Buyer’s Agreement dated……. has been executed between M/s __________, and my Client(s) and hence, it is proved beyond any doubt that M/s __________ in connivance and conspiracy with M/s __________ unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ without even waiting for the execution of the Apartment Buyers Agreement by M/s __________ with my Client(s) (which was a precondition of Clause No. ___ of the Preamble, Clause No. ___ of the Preamble, Clause No.__, Clause No.__ and Clause No._ of the Tripartite Agreement dated _______ executed between M/s __________, my Client(s) and M/s __________ as well precondition of Clause No._ and Clause No._ of Sanction Letter dated _______ and also precondition of Article __ of the Loan Agreement dated _________. This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
(v) That in Clause No.___ of the Tripartite Agreement dated _______ executed between M/s __________, my Client(s) and M/s __________, it has been stated that M/s __________ has agreed to give a Loan Amount of Rs._______/- to my Client(s) in accordance with the Sanction Letter dated ________ and the Loan Agreement dated ________. It is submitted that the Sanction Letter is dated _______ and not ________. It is further submitted that Loan Agreement is _______ and not ________. This prima facie show fraud, forgery & fabrication done by M/s __________ in connivance with M/s __________. This also leads to another logical conclusion that besides Sanction Letter dated _______, M/s __________ created another fraudulent, false, forged and fabricated Sanction Letter dated _______. This also further leads to another logical conclusion that besides Loan Agreement dated _________, M/s __________ has further created another fraudulent, false, forged and fabricated Loan Agreement dated _______. This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
(vi) That in Clause No.___ of the Tripartite Agreement dated _______ executed between M/s __________, my Client(s) and M/s __________, it has been stated that M/s __________ shall make payment to M/s __________, as per Apartment Buyer’s Agreement dated………….. executed between M/s __________, and my Client(s). This proves beyond any doubt that the Loan of Rs._______/- could be disbursed by M/s __________ to M/s __________ only after the execution of the Apartment Buyer’s Agreement by M/s __________ with my Client(s). It is submitted that even till date no Apartment Buyer’s Agreement dated _________ has been executed between M/s __________, and my Client(s) and hence, it is further proved beyond any doubt that M/s __________ in connivance and conspiracy with M/s __________ unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ without even waiting for the execution of the Apartment Buyers Agreement by M/s __________ with my Client(s)(which was a precondition which was a pre condition of clause No.__. Tripartite Agreement dated _______ executed between M/s __________, my Client(s) and M/s __________ as well precondition of Clause No._ and Clause No._ of Sanction Letter dated _______ and also precondition of Article __ of the Loan Agreement dated _________. This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
(vii) That in Clause No.__ of the Tripartite Agreement dated _______ executed between M/s __________, my Client(s) and M/s __________, it has been stated that the entire loan is to be repaid to M/s __________ by my Client(s) in accordance with the Loan Agreement is ________ signed between my Client(s) and M/s __________. There is no Loan Agreement dated _______ signed and executed between M/s __________ and my Client(s) and the Loan Agreement which has been in fact signed and executed between M/s __________ and my Client(s) is dated _________ which is also fraudulent, false, forged and fabricated. It is a matter of record that Clause No.__ of the Sanction Letter dated _______ provides that a Loan Agreement acceptable to the bank and other documents in relation thereof shall be executed by the Borrower. The terms and conditions of the Loan Agreement shall supersede all previous communications in respect of finance facility. As per Clause ____ it is clear that a Loan Agreement was required to be executed which could be executed either on _______ or after _______, but the Loan Agreement which the bank is relying upon is dated _________, which beyond any doubt proves that the said Loan Agreement is forged and fabricated document. The fraud, forgery & fabrication of the Loan Agreement & the Tripartite Agreement is further proved by the facts that in the Tripartite Agreement the Loan Agreement has been shown as dated ________ whereas the Sanction Letter has been shown as dated ________. This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
(viii) That in Clause No.__ of the Tripartite Agreement dated _______ executed between M/s __________, my Client(s) and M/s __________, it has been stated that my Client(s)’s copy of the Apartment Buyer’s Agreement entered into between my Client(s) & M/s __________ shall be kept in safe custody of M/s __________ till the terms and conditions of grant of loan are complied with. This proves beyond any doubt that the Loan of Rs._______/- could be disbursed by M/s __________ to M/s __________ only after the execution of the Apartment Buyer’s Agreement by M/s __________ with my Client(s). It is submitted that even till date no Apartment Buyer’s Agreement dated……. has been executed between M/s __________, and my Client(s). This proves beyond any doubt that both the Loan Agreement dated _______ and the Tripartite Agreement dated _______ are fraudulent, false, forged and fabricated documents which are null and void in the eyes of law and are not binding on the parties, and hence the disbursement of amount of Rs._______/- by M/s __________ to M/s __________ was unauthorised, illegal and had been done fraudulently at the back of my Client(s), which is also in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
24.9) That my Client(s) realized that the blank Loan Agreement (which later on was dated _______ by M/s __________), as well as the blank Tripartite Agreement dated (which later on was dated _______ by M/s __________), was got signed by M/s __________ from my Client(s) in good faith, but fraudulently on false assurance, representations, representations & promises that the blank columns in the Loan Agreement and the Tripartite Agreement shall be filed in later on and that too only after due compliance by M/s __________ of the following conditions;
a) My Client(s) having made the payment of total Sales Consideration minus Sanctioned Loan Amount from its own contribution to M/s __________.
b) The confirmation of allotment of the “Residential Apartment” by M/s __________ in favour of my Client(s).
c) The Apartment Buyer’s Agreement or the Conveyance Deed in respect of the said “Residential Apartment” (which is a title document of the said “Residential Apartment”) is executed by M/s __________ with my Client(s).
d) The said “Residential Apartment” Buyer’s Agreement or the Conveyance Deed is deposited as equitable mortgage with M/s __________ by way of Security against release of Sanctioned Loan Amount of the “Residential Apartment” by M/s __________ to M/s __________ on behalf of my Client(s).
M/s __________ also made false & fraudulent assurances & representations & promises to my Client(s) that after the blank columns are filled-in in the blank document of the Loan Agreement and the Tripartite Agreement got signed in good faith by M/s __________ from my Client(s), M/s __________ will inform my Client(s) & provide a copy of the same to my Client(s). M/s __________ however did not provide a copy of the same to my Client(s).
24.10) That the in view of the Sequence of Events mentioned herein above more particularly para Nos._____ to ___, it is proved beyond any doubt that the Loan Agreement dated _______ as well as the Tripartite Agreement dated _______ are fraudulent, forged and fabricated documents as the Loan Agreement dated _______ as well as Tripartite Agreement dated _______ was got signed in good faith by M/s __________ from my Client(s) fraudulently on false assurances, representations and promises of Respondent which are mentioned in the preceding paragraph and the same are not repeated here for the sake of brevity. It is settled law that any contract which has been got signed fraudulently or by playing fraud or by fabrication & forgery shall be null & void in the eyes of law and shall not be binding on the parties even if it bears the signature of the parties. It is therefore submitted that the Loan Agreement dated _______ as well as Tripartite Agreement dated _______ are fraudulent, forged and fabricated documents and are null & void in the eyes of law & are not binding on the parties. My Client(s) is therefore entitled to seek a separate declaration that the Loan Agreement dated _______ is fraudulent, forged and fabricated and is null & void in the eyes of law and is not binding on the parties, with consequential relief that that M/s __________ have in connivance and conspiracy with M/s __________ have unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ as the said disbursement has been done in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
My Client(s) is also entitled to seek a separate declaration that the Tripartite Agreement dated _______ is fraudulent, forged and fabricated and is null & void in the eyes of law and is not binding on the parties, with consequential relief that that M/s __________ have in connivance and conspiracy with M/s __________ have unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ as the said disbursement has been done in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
24.11).That in the Loan Agreement dated _______, there is an Arbitration Clause No. ____ which reads as under:-
“Unless the same falls within the jurisdiction of the Debts Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institution Act, 1993 or any other competent authority for Debt related disputes constituted in any other law in future or which are in force, any and all claims and disputes arising out of or in connection with this Agreement or its performance shall be settled by arbitration by a single Arbitrator to be appointed by the Bank. The venue of arbitration shall be in either Mumbai or New Delhi or Chennai or Kolkata or at the Concerned Branch at the sole discretion of the Bank. The arbitration shall be conducted under the provisions of the Arbitration and Conciliation Act, 1996 or any statutory modification or re-enactment thereof for the time being in force and the award of such Arbitrator shall be final and binding upon the Parties hereto”.
24.12) That in Tripartite Agreement dated _______ there is Arbitration Clause No.____ which reads as under:-
“Clause No.17
In case of any dispute or difference whatsoever arising among the parties out of or relating to the construction, meaning, scope operation or effect of this Agreement the Parties shall first endeavor to reach an amicable settlement through mutual consultations and negotiations. If the parties are unable to reach an amicable settlement within ______ days from the date on which dispute arose, such dispute shall be referred to arbitration, each party shall appoint one arbitrator. Such arbitration shall be conducted in accordance with the provisions of Arbitration and Conciliation Act, 1996 or any salutatory modification thereof. The language of the arbitration shall be English. The venue of arbitration shall be _________”
24.13) That in view of the facts and circumstances narrated hereinabove, and specially in the background that serious disputes have arisen between M/s __________ and my Client(s) in relation to the Loan Agreement dated _________ and that further serious disputes have also arisen between my Client(s), M/s __________ and M/s __________ in relation to the Tripartite Agreement dated _______, my Client(s) is entitled to seek the following reliefs:-
Declaration that the Loan Agreement dated _______ is fraudulent, forged and fabricated documents and is null & void in the eyes of law and is not binding on the parties, with consequential relief that that M/s __________ have in connivance and conspiracy with M/s __________ have unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ as the said disbursement has been done in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
Declaration that the Tripartite Agreement dated _______ is fraudulent, forged and fabricated documents and is null & void in the eyes of law and is not binding on the parties, with consequential relief that that M/s __________ have in connivance and conspiracy with M/s __________ have unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ as the said disbursement has been done in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______.
24.14 THIS NOTICE RELATES ONLY TO INVOKING OF CLAUSE NO.____ OF THE LOAN AGREEMENT DATED _________ EXECUTED BETWEEN M/S __________ AND M/s EF.
That in view of the facts and circumstances narrated hereinabove, and specially in the background that serious disputes have arisen between M/s __________ and my Client(s) relating to Loan Agreement dated _______ executed between M/s __________ and M/s EF (my Client(s)). That since M/s __________ have in connivance and conspiracy with M/s __________ have unauthorisedly illegally and fraudulently disbursed an amount of Rs._______/- to M/s __________ on _______ as the said disbursement has been done in total violation of the terms and conditions of the Sanction Letter dated _______ as well as in violation of the terms and conditions of the Loan Agreement dated _______ and also in violation of terms and conditions of the Tripartite Agreement dated _______, therefore the said disputes do not fall within the jurisdiction of the Debts Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institution Act, 1993 or any other competent authority as the same is not relating to any recovery of Debt recovery related disputes. Hence, the Debts Recovery Tribunal is not competent to decide the disputes in question and hence the Arbitration Clause No.____ of the Loan Agreement is applicable and the disputes can only be settled by Arbitration.
Therefore through this Legal Notice, my Client(s) do hereby invoke Clause No.____ of the Loan Agreement dated _________ executed between M/s __________ and M/s EF. (my Client(s)), and propose the name of Mr. _______, Hon’ble Justice (Retired), _______ High Court, resident of _________________ to be appointed as the Sole Arbitrator to adjudicate upon / settle the disputes having arisen between M/s __________ and my Client(s) relating to Loan Agreement dated _______. M/s __________ is further NOTIFIED that the name of Shri _______ Hon’ble Justice (Retd.) of _______ High Court as Sole Arbitrator was suggested only due to the fact that similar Arbitration Proceedings arising in respect of the same “Residential Apartment” but on a different dispute having arisen between my Client(s) and M/s __________ is already pending before Shri _______, Hon’ble Justice (Retd.) Hon’ble _______ High Court in terms of the Order dated _______ of Hon’ble __________ High Court. Through this Legal Notice M/s __________ is further NOTIFIED that in case no reply is received by my Client(s) from M/s __________ in response to this Legal Notice within a period of ___ days then in that event, it shall be presumed that M/s __________ have no objection to Mr. _______, Hon’ble Justice (Retired), _______ High Court, resident of ________________ being appointed as Sole Arbitrator in terms of Clause No. ____ of the Loan Agreement dated _______ for adjudication / resolution of disputes or differences between my Client(s) and M/s __________ in accordance with law. M/s __________ is further NOTIFIED that my Client(s) reserves its rights to approach the Appropriate Court (s) for urgent interim orders to protect its interest.
A copy of this Legal Notice is kept in the office of the undersigned which may be inspected any time with prior appointment with the undersigned at his Mobile No. _______.
Take Notice Accordingly
Thanking you
Yours faithfully
( )
Comments
Post a Comment