One time settlement of Ex Director of cooperative Bank
I took loan from a cooperative bank for Micro-manufacturing industry in 1993 with adequate security, giving mortgage of property. This facility was enhanced from time to time as per requirement. In 2010 the accounts went into NPA. Still it is in NPA. In January 2018 I applied to the bank for settlement for this account under OTS scheme declared by Maharashtra State government. I was elected director of this bank during the period 1979-1982 thereafter I was not concerned to the Bank in any way. So as per circular the bank has sent my OTS proposal to RBI for obtaining its permission, as I was ex-director of the bank. Now the bank is saying that my above proposal is pending with RBI from last 8 months. Due to this my proposal of OTS is still pending with the Bank. Please guide me for next course of action to get relief under OTS scheme.
* This is the query I had asked 2 years ago. I asked RBI under RTI about the letter, the Bank sent to RBI for prior permission for my OTS. The reply from RBI was shocking that "RBI has not received the said letter.",
I realised that Bank doesn't want to give benefit of OTS to me and take away my morgaged land.
Later Bank sent me their letter saying that Bank afterwards had written another letter to RBI and reply of RBI was negetive and a vague letter of RBI was attached to it which was stating that "the proposal of OTS of your Bank's exdirector will not be accepted". In the said letter my name is not mensioned and also no reasons (grounds) are written. The RBI letter is of 4 lines only. On the basis of the this RBI letter Bank says that prior permission for my OTS has been rejected by RBI. Also Bank took sybolic action against my property in January.
I am sure Bank has "managed" the RBI personnel to get the vague letter to show me that I am not eligible for OTS.
Pleae guide in this matter.