Mine is SSI Gravure Printing Press since 2005-06 having bank finance of 5.74 lacs on TL a/c . 3.00 lacs for CC limit and 2.00 lacs. for additional working finance against Res.flat. Ours is petro Based RM for printing work and key mfgr. is Reliance Ind.Only.
Initial start was good . After around 2 years sudden Price rise in all petro products, govt. policies , Taxation.Overheads ,gone up tremendously and disturb operations. However till that time my operations are ok and within the limit and banking norms.
These severe issues, disturb to pay TL instalments in time. Looking to my commitment and responsibilities, I have requested to bank to restructure our finance a/cs so that the wecan concentrate on work as my unit is running under one man show and within in my individual capacity. Total project cost is around Rs. 20.00 lacs out of which bank finance is of Rs. 8.74 lacs.and balance is self finance and thru relatives and friends.
From 2007 to till 43 months several requests as desired by BM, RM, GM , were made . After 43 months , bank has sanctioned re-structure and Rs.2.59 lacs. were recovered by single entry and put me under mental tense and in difficult situation. Can’t run the show, Procurement basic RM , Production, Delivery, etc.
By this time, I have fully repaid TL with all respect but under protest . bank has wrongly recovered Fire Insurance Premium.Penal Interest w/o giving any reason, detail advisestating rate of penal interest, on which amt. and for what perioed. etc. etc.Bank has not given NDC against TL,Not given copy of signed documents . like many issued for which I have not received any reply from bank’s management. RTI complain was made to all the authority but vague reply recd.
If bank has replied in 2007 about their unability of re-structure, I could have saved lacs of rs. towards interest and other which I have paid till date. Why should I suffer and live under tense ?
Even to-day I am within my limit of sanctioned limit and paying interest so-called penal charges to all CC & OD a/c.
I want to filed complain for finan.loss, Mental Tense, . want guidence how and to what extent. All correspondence are with me
Expecting your valued guidence at the earliest & oblige.
Shailesh Shah
Prop.Print-n-Pack inc.
Mbl.: +919825699538
E-mail : [email protected]
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