OTS Ex Director

Dear Sir, You may file a writ petition and get appropriate relief at the earliest point of time.

 1) The bank must have given notice u/s 6 of SARFERSI Act, 2002 like wise you. had informed the bank that you would like to settle he issue by one time settlement (OTS) and such letter of yours has been sent by the bank to R.B.I. but the R.B.I. is yet to respond to such letter. 2) I assume that the bank has not served a notice to your company u/s13(2) of the SARFESI ACT,2002, hence you need not worry at this stage when you are expecting the R.B.I. to respond to the O.T.S. letter sent by the bank to R.B.I  3) In the mean time I suggest that you may make substantial deposit in your cash credit account which you consider that be adequate to one time settlement. Doing so will prompt the bank to proceed to initiate further legal proceedings. 3) You do not need to have a,political background or link. 4) Send e-mail to R.B.I and keep inquiring about the status of the letter in context. 5) You are not a director any more so the present director has to involved in such mater and call a board meeting to avert the situation and call your co-operative bank from losing it's assets. 6) Keep a good liaison with the bank manger and determine as how much amount will be appropriate for one time settlement. 7) In the meantime if the bank has not approached the D.R.T. then you can seek shelter of section 11of the SARFERESI ACT and settle the dispute with the Bank through Arbitration & Conciliation Act, 1996 . 8) Please do click upon the like thumbs up tab. Adv pawar*Phone*