[Resolved]  State Bank of India Aurangabad — for work bank aurangabad,BIHAR

Sub-Regarding RBO/R-IV/PAK/NO.GEN/561 DIR SIR
Humble submission is that the company had applied on 14th sep2007 for loan on 25% or50 lacks susidy which is a scheme under ministry of food processing industry for rice mill in Aurangabad branch of state bank of India.
1. To join the benefit under the scheme as and when state bank of India branch Aurangabad asked to do any written or verbal instructions of the bank officials company has done accordingly and shell following whatever instruction a issued from time to time to the company.
2. For benefit of the company branch manager Aurangabad had decided that under SME segment SSI scheme the loan should be granted. The company had no knowledge how company is to be under the above mention scheme therefore, the company gave it consent for grant of loan under the scheme.
3. The company applied for loan on 14th sep2007 and waited till 26th jul2009 and waiting but when company got minutes of meeting held on 15th apr2009 at 3pm in room no 120 PanchsheelBhawan, New Delhi under the chairmanship of secretary FPI to review the follow up action with nodal officers of focal point banks under decentralised scheme for technology up-gradation/ establishment, modernization of food processing industry and thereafter, the company is under the fear that subsidy will not be granted to company.
When the company has informed the branch manager Aurangabad regarding taken decisions taken in the above mentioned meeting even than the banks not taking any interest regarding subsidy to the company, There after the directors of the company has decided that since Aurangabad branch is not taking any interest regarding subsidy to the company the matter should be taken to higher authority of the bank.
4. One of the eleven decisions of the above meeting is that all the old cases of subsidy should be disposed of by 15th may2009 and new cases be enclosed. It was also decided in the meeting that old cases subsidy must be enclosed by 31st may2009 and then only new cases of subsidy be taken up. But due to indifferent attitude of bank official, the company has only E. Number on E. Portal. Therefore the company from 27th jul2009 started to inform the bank officials regarding the matter. Is it crime to inform higher official regarding work of branch manager?
5. According to website w.w.w.mofpi.nic.in of ministry of food processing industry, Delhi under the decentralisation of plan scheme the subsidy of25% or 50laks is given on the cost of fixed asset 213.73lacks Rs. The Company gets the subsidy it is duty of the bank concerned. This has been confirmed by the website of the ministry. The bank has only taken E. Number of the company on E. Portal but the susidy should have been released and given to the company latest by 31st may 2009.
6. State bank of India granted loan on 18th dec2007 in the financial year[protected]. Susidy amount has already been released by the ministry for the financial year[protected]. This has been confirmed the website of the ministry but company has got only E. Number on E. Portal .The Company has not received the subsidy amount due to indifferent attitude of the bank officials.
7. The company should get the subsidy amount but the bank officials are not doing anything for this. According to rule the bank should not had charged interest on term loan of 50lack Rs but bank took interest on the above amount so the bank has charged assess interest on loan.
8. According to think tank of state bank of India credit rate of rice mills sb9 and above and CRA rating of new rice mill is sb7 and above, the loan for rice mill unit in SME segment rice mill plus 11% to 12.75% is available.
According to bank of Aurangabad company rice mill unit credit rate and CRA rate sb2 in spite of SME segment granted loan under SSI scheme.
Branch manager in the interest of bank granted loan on assess interest rate of to 13.25%to14.25%. And also by smooth-taking took consent of the company but took interest on loan at the rate of 13.75% to 14.75%.
But due to delay of subsidy amount the bank is in the profit but company is suffering lose. Why branch manger could grant loan on SME segment rice mill plus scheme?
9. Branch manager in his own interest and in the interest of bank showing the latter dated 27th Dec2007 But why he is not showing letter and resolution dated 28th Dec2007 passed by the directors of company to the higher authorities.
10. Branch manager is showing latter dated 21st aug2007 to his higher authority because with the help of above latter he is trying to hide his fault and the interest of bank but company has written dozens of latter for benefit of subsidy on 14th sep2007 and again wrote latter’s to the branch manager.
11. If the branch manager considers latter dated 5th sep2008 as green signal than decision taken on 15th apr2009 in the meeting between chairmanship of secretary, FPI and nodal officer of bank, the company should have received the subsidy on 31st may2009. The loan issued by the state bank of India in the financial year[protected] subsidy has already been received which has been confirmed by the website of the ministry. Due to the fault of bank the company has only got E. Number on E. Portal.
12. According to reserve bank and also by the think tank of the bank in SME segment SSI scheme 0% mortgage and on 0% margin or rice mill plus scheme 15% to 25% margin and 75% company guarantor valued loan is available but bank officer granted loan by surpassing plan scheme. The bank manager has taken 141.85 lacks and land valued at 12 lacks plus fixed deposit, LIC, SBI Life of 20 lacks. The company had objected about mortgage than bank official refused to issue loan. Therefore the company was forced to give fix deposit, LIC SBI life and land in mortgage. The company has spent on rice mill unit 113.73 lacks to till 31st march2009. Company collateral security is valued 287.58 lacks and guarantor valued 433.04 lacks. The total guarantee of the company is valued 705.62lacks.
13. Therefore as per rule the think tank of the bank return 20 lacks of fixe deposit, LIC, SBI life and also land mortgage of 12 lacks so that company could spent the above mentioned amount on the development of the company because bank gave to the company 91. 48 lack fewer amounts as loan.
14. When branch manager granted loan to the company at that time a written agreement was signed by the company and the bank. In the agreement it was agreed that interest of every month will be deposited in the bank in next month will be deposited in the bank in next month between the date one to the last date of the month but branch manager takes interest amount and instalment of term loan amount before last day of the month from the company’s account and this is being done without informing the company and also without the cheque issued by the company.
15. Company got information from website of ministry that application on for subsidy should be filed before commercial production. The raw rice unit of the company was ready by March 2008. The boiled rice unit was ready by september2008. The company applied for commercial production many bank does not replied. Therefore the company started commercial production of raw rice from 29th jan2009. But commercial production of boiled rice could not be started because the company is under the impression that some problem may be faced by the company’s regarding subsidy. Due to the uncooperative attitude of the bank the company’s commercial production could not started fully and for this the company is suffering lose.
16. Whenever company director meets the bank officials regarding above mentioned matter than branch manager only explains how recovery agents behaves with party. Does the company’s position is for recovery?
17. When branch manager granted loan to the company taking too much interest but now branch manager is not taking any interest that company gets the subsidy in time. And for this the company suffered loss of one corer and still suffering loss. Due to the indifferent attitude of the branch manager the company has failed to deposit interest and instalment amount since july2009.
18. Therefore it hubby submitted that you take interest regarding company’s problem so that company is all to return bank loan. The company’s directors take interest in this season is December2009 towards the company or they are involved in rule and regulation of bank. The state bank of India took E. Number on E. Portal for company 27th Aug2009 BUT gave wrong information about the company on E. Portal. This was corrected only on 14th Oct2009.
19. That the instance with fact of recovering loan, taking excessive interest on the loan amount and not giving subsidy according to the prescribed from in spite of the sanction by the ministry of food processing and taking assets mentioned in the preceding paragraphs as mortgage out of the circular indicates altogether the harassing ill motivated and in active attitude of the bank.
20. Respected sir due to indifferent attitude of the bank the commercial of company was much delayed. The company suffered financial loss for the above mentioned reason. If you take interest in the company’s matter. Than the company will get subsidy soon so that company’s loss can be avoided and also company get bake LIC, Fix deposited, SBI life worth 20lacks and land worth 12lacks so that this amount can be spent on the development of the company.
Whether the above mentioned fact shows that bank manager is not taking any interest regarding subsidy to the company.
Whether the above mentioned facts only company is at fault or the bank this should also is decided? For this kind consideration I will be obliged. DEVENDRA KUMAR SINGH

NAGVANSHI RICE MILL PVT LTD
G. T. ROAD, INDUSTRIAL AREYA (BIADA)
JASOIA MOR, AURANGABAD BIHAR824101
MOBIL-[protected]