From

Wednesday, August 19, 2015

Navnit Narayanan
Prop.: National Engg Co.,
S71F, Spencer Plaza, Chennai-2

To

Mrs.S.P.Rajakumari B.A.,B.L.,
129, Law Chambers,
High Court Buildings,
Chennai-600104

I am in receipt of copy of legal notice issued by you to M/s State Bank of Travancore,
Chennai Main Branch, Chennai-108 on behalf of your client M/s Indian Overseas Bank, Anna Nagar
Branch, Chennai-102 and I issue rejoinder as under:-

One Mr.Sarangi, who took over as AGM of Anna Nagar Branch in 2012 acted in partisan
manner, in the guise of avoiding slippage of account into NPA, forced me to enter into a sale
agreement of my prime residential flat in Bazulla Road, T.Nagar, Chennai-17, with Mr.&Mrs.Golak
Parida who are as per court admitted evidence, close friends of Mr.Sarangi himself. All of them are
from Odisha state and seemingly relatives and or friends.

I had no reason or chances to know Mr.&Mrs.Golakh Parida except through Mr.Sarangi,

Branch head and AGMof IOB. Despite Mr.&Mrs.Golak Parida having an IOB account and I personally
saw the IOB cheque book carried by them, for obvious reasons, other bank cheque was issued. After
getting my signature in sale agreement, I was not given a copy. The introduction took place in the
office cabin of AGM, the negotiations took place in same place and I was made to sign the sale
agreement in same cabin and Mr.Sarangi personally collected the cheque from the hands of
Mr.Golak Parida, and Mr.Sarangi personally filled in the challan and ordered me to leave after
collecting a signed self cheque from me for Rs.12 Lakh purportedly to credit to my home loan
account. He also obtained my signature in fund transfer form to credit to my OCC a/c. I did not even
touch the cheque except a cursory glance seeing the figure Rs.30 Lakh mentioned and cheque was
drawn in my name.

Few weeks earlier, when I got a buyer for my property, one Mr.Natraj, also a customer of
IOB in another branch and having credit facility through one Mr.Sirajudeen, same AGM Mr.Sarangi,
flatly refused to consider a home loan proposal for buying this property, stating that for NPA asset,
the bank will not fund for purchase. But to my surprise, this time, Mr.Sarangi called the loan officer
of the branch and asked her to process the home loan papers of Mr.&Mrs.Golak Parida. Few weeks
later, when I visited branch, this lady officer, a North Indian, was lamenting that Mr.&Mrs.Golak
Parida do not have sufficient Income tax declared income but the AGM wants to process the loan
papers.
 Mr.&Mrs.Golak Parida, attempted to grab my property and tried to get the keys from me in
the pretext of showing it to architect for interior plans and changing floorings etc. They used to
come by costly AUDI or BENZ cars and always talk in Crores. Once they took me to their residential
flat that was very lavishly furnished. They made me to believe that they are super rich and they are
highly connected to power centres of Tamilnadu dropping the names of then Police commissioner,
Chief Secretary who were all from Odisha at that time. I am indebted and thankful to the driver of
Mr.&Mrs.Golak Parida, who one day in a brief conversation, cautioned me against handing over the
possession of flat to them in guise of allowing them to do repairs. He specifically informed that for a
large Bungalow in ECR, this couple had played the same trick of giving some small advance, enter
into agreement, take possession in the guise of showing to carpenters and for repairs, and then
never allowing actual owners to enter the flat, sell the property at fabulous profit and then settle the
real owner with bitter negotiations and further reduced price.

Cautioned by such information, I quickly moved into the property and started living with my
family and informed Mr.&Mrs.Golakh Parida that possession of the property can be given only after
registration. It disappointed the designs of Mr.&Mrs.Golakh Parida. They started finding fault with
area mentioned in the sale deed about property. Making a false and frivolous claim, they threatened
me that carpet area of property is less, hence, I need to sell the flat at 30% cheaper than the
contract rate. They were threatening that they will book me in a cheating case, then police
commissioner is their relative and lot of harm will be done to me. During visit the IOB, I found
Mr.Sarangi, was all along supporting them and their (Mr.Sarangi-AGM and Mr.&Mrs.Golakh Parida)
closeness was visible to all in the branch. Left with no option I preferred a complaint with local police
and also sent a legal notice warning them of legal action.

After receipt of legal notice, and coming to knowing of my police complaint,

Mr.&Mrs.Golakh Parida made a complaint against me in Koyambedu police station on 17-11-2012
and along with that information (page-7, line-2) filed a civil suit against me in City Civil Court (OS
No.:570 of 2013 in XVII Asst. Judge) to make it appear a civil dispute. In this civil suit, in the Plaint,
Mr.&Mrs.Golakh Parida had clearly stated in page-2, para-3, as under:-

The Plaintiff submits that he is native of Orissa and he is a Chartered Accountant by

profession .. that one of his friend Mr.Sarangi working as AGM in Indian Overseas Bank, Anna
Nagar East Branch who was also acquainted with Mr.Navnit Narayanan ..

In this civil suit, in the Plaint, Mr.&Mrs.Golakh Parida had clearly stated in page-4, para-7, as under:-

the 1st Defendant through Mr.Sarangi, AGM, IOB, approached the Plaintiff

Hence it is proved beyond doubt, the sale agreement as per which a sum of Rs.30 lakh paid as
advance by cheque no.078079 of State Bank of Travancore is entered through active involvement
and participation of branch head and AGM of IOB Mr.Sarangi (now become GM in same bank).

Mr.&Mrs.Golakh Parida, both being Chartered Accountants, are expected to practice

financial discipline and be a model in admitting facts and figures. Their certificate is relied
on by Government and Judiciary. They are part of Government recognised system. In this
Civil Suit (OS No.:570 of 2013 in XVII Asst. Judge) filed on 28-01-2013 in page-5, para-10 they are
declaring paid an advance of Rs.30,00,000/- (Rupees Thirty Lakhs) by way of Cheque No.078079
dated 23-08-2012 drawn on State Bank of Travancore.

Year 2012 and 2013 I went through excruciating financial difficulty caused by property
grabbing usury money lenders out to destroy my business who were closely connived with senior
bank executives. Chased by credit card collection agents, too many pronote and cheque return cases
foisted against me in different parts of Tamilnadu, I lead a life of oblivion. Everyone was turning
against me. The advocate to whom I handed over this civil suit did not even properly attend the
court and was always demanding more and more money. After several months, in a direct enquiry, I
came to know that this case is dismissed by default (neither party attending the proceedings). In
2014 wheels of fortune and normality started smiling upon me and I was seeing light at the end of
tunnel. My first aim was to approach IOB to normalize relationship. Despite my worst financial
situation, I maintained my relationship with IOB normal with trickling financial inputs into my
operations. As all the bad things end, this man, Mr.Sarangi also left the branch, ending a feeling of
suffocation. IOB AGM Mr.Prabhakar tookover. Advances Officer Mr.JR (J.Ramakrishnan popularly
called JR) was friendly. All that I was looking for was, some concession in penal interest.
Unfortunately, I was advised to let the account become NPA so that better interest concession can
be availed. Bad advice. But I heeded. Present AGM Mr.Ramachandran tookover. Account became
NPA. I was negotiating for interest concession and one time settlement. I was made to believe that it
is possible. I was in regular touch with bank and in regular communication. I was not only talking
about regularizing the account, I was considering to move in the new tech start-up project idea with
INR 100 Crore investment possibility.

In May 2015, an appointment was fixed with Mr.Rajendran, Chief Regional Manager of IOB
through the branch. Point of discussion was as stated in previous paragraph. In this meeting,
Mr.Rajendran, looking at his aides (Branch head and others not known to me) made a casual remark,
Is this the account in which we gave credit for Rs.30 Lakh but realized only Rs.3 Lakh by wrong
claim?. Branch head was startled, but nodded his head. Probably it was best kept secret buried
under the carpet. I was shocked. Confused. Next day I visited the branch. Casually checked with the
branch head Mr.Ramachandran, AGM, why the bank did not file a complaint with the CBI? As per my
general knowledge, fraud committed above Rs.25 Lakh, involving a bank, needs to be referred to the
CBI. AGM avoided subject and went ahead with my account and stated, since the security coverage
is very good, bank may not give concession, I need to regularize. I told him, if not regular interest
concession, kindly consider waiver in penal interest charged.

But what I was unaware at that time was, this Chief Regional Manager Mr.Rajendran was
already a close friend of Mr.Ulagan, Ex.General Manager of Indian Bank. Mr.Ulagan, who has a
running dispute with me and matters pending in court, happens to live in just opposite door flat
having common walls to my property in Bazulla Road. Mr.Ulagan had already proposed to IOB to
bring my property into E-Auction without my knowledge, and purchase the same in clandestine
manner. He had taken clues from one financier cum usury money lender Mr.Yacoob Ali who had
near successfully and illegally purchased my share in my Anna Salai prime property in active
connivance of senior executives in City Union Bank, now the matter, believed being investigated by
CBI.

So, as a punishment for me for waking up a scandal in which Rs.27 Lakh of public money lost
by single transactionin IOB, allured by whatever benefit offered by other bank Ex-General Manager
out to grab my property in clandestine manner, aiming to get better promotion and retirement
benefit, IOB, without my knowledge brought my property in E-Auction, sending notices to previous
old addresses, despite the bank being fully aware of current address, regular email, regular mobile
number through which, they continue to talk normal sweet talks. They (specific individuals in IOB)
near successfully brought my property to E-Auction, suppressing facts and fabricating records,
fudging bank account statements.

Frustrated, I made a complaint to concerned Ministry through Public Grievance Portal vide
Regn. No.: DEABD/E/2015/05368 on 18-07-2015. Visiting http://pgportal.gov.in anyone can see the status of this complaint. (No
Password).

My complaint to ministry on 18-07-2015 was as below:

I am 2 decades old customer to IOB, Anna Nagar branch with Home Loan A/c, OCC A/c, SB A/c. Few weeks back I came to know, the bank/branch
had fudged accounts and keeping Rs.27 Lakh in suspense without realising payment from a buyer but giving credit to favour him. Then AGM now
promoted as GM involved. I had also come to know that few individuals in the rank of GM and above in this bank and in few other banks had joined
hands and clandestinely operating to favour some private usury money lenders and help them to grab my prime property assets. When I made
casual reference that the amount fudged being above Rs.25 Lakh, the bank ought to have lodged a complaint with CBI, as a punishment to me, the
bank had brought my properties into E-Auction without my knowledge in a surreptitious manner. I request a thorough enquiry be made and action
taken against concerned individuals.

For the above complaint, the bank replied as under:-

The complainant Mr.Navnit Narayanan is not a general public and he has availed housing loan and cash credit limit for his business against mortgage
of his 2 residdential flats in Chennai. The borrowal accounts became Non performing assets on 30.06.2013 and Branch has issued Demand Notice
under SARFAESI Act on 08.08.2014. He is deviating the Branch action by complaining to Ministry. Regarding cheque issue he has no role to play. He
has made a false complaint against the Branch. Branch detailed reply is attached herewith.

Detailed branch reply was as under:-

 So, the IOB has cleverly distanced me from the entire episode as if I am not a party to that.
When the money Rs.30 Lakh was credited to my savings account (from this Rs.12 Lakh stolen by
corrupt elements in ingenious way is another episode), for a transaction that took place on 27-08-
2012, why this bank has kept me in dark for such a long period till May 2015? Even in May 2015 it is
only by chance, I came to know. Not with the transparent revealing of the bank.

On 23-07-2015, the ministry closed my complaint, obviously satisfied with the bank reply.
Next day I registered another complaint vide DEABD/E/2015/05548 . Visiting http://pgportal.gov.in anyone can see the status
of this complaint. (No Password). My complaint was as under:-

With reference to my previous complaint, the bank had replied making it appear like a normal NPA borrower trying to shift blames. I have
documentary evidences to prove beyond doubt that select individuals of this bank upto the rank of General Manager had fooled the bank itself to
attain direct and indirect benefits. Every line of reply by bank can be disputed and proved to be vindictive and deviating. Any attempt by me to meet
higher executives is stonewalled with redirection to the branch where the origin of malpractice happened. I request higher executives and competent
person give me appointment for personal meet and have a look at my evidences and hearing and render justice. Navnit Narayanan

On 03-08-2015, as a vulgar joke, bank sent the following reply, ministry closed my complaint.
A letter signed by our General Manager,Personnel Administration Department has been sent to Ministry of Finance with ref.PAD/SUP/292 dated
29.07.2015 stating that Shri.Madhusudan Mittal Roll No.62640 joined the Bank as Assistant Manager on 22.11..2014 at our Central
office(Treasury)Department. He is one of the officers specially selected under the succession plan for the Treasury position and he is now undergoing
intensive training in the Treasury operations. In the above circumstances, we are unable to consider his request for transfer to Jaipur Region. Hence
we may close the complaint with this information.

So, in a belated, irritating move, to make it appear, the bank had taken action, it caught hold
of some advocate, and sent this legal notice copy marked to me as 5th respondent. The letter is
dated 03-08-2015. It was posted on 11-08-2015. Postal track detail below.
 So, in this 30L credited, 3L received, 27L lost and 12L stolen episode, the IOB bank, through
its specific officers 1) Mr.Ramachandran, AGM for branch as on today, 2) Mr.Sarangi, GM now and
AGM for branch at the time of incident, 3) Mr.Rajendran, Chief Regional Manager (now retired) for
episode period, had done a proven corrupt practice, that appears to be a Error & Malpractice but
available evidence points to Corruption and Fraud.
The possible beneficiaries are the above 3 individuals and Mr.&Mrs.Golakh Parida,
Chartered Accountants and Mr.&Mrs.Ulagan, retired GM of Indian Bank. Considering the size of the
corruption and methodology involved in it, either M/s Indian Overseas Bank or M/s State Bank of
Travancore should immediately file a complaint with CBI which, according to my knowledge the
competent authority to investigate bank fraud of this size.
Further complaint should be registered with (http://www.icai.org/post.html?post_id=5729)
Institute of Chartered Accountants of India (Setup by an Act of Parliament) against Mr.&Mrs.Golakh
Parida. They are not worthy of practicing as a Chartered Accountant.
The Act of Mr.&Mrs.Ulagan is already reported by me in Civil and Criminal cases. In an
enlarged investigation, their role should be brought to light and also any other individual or group
provenly acting in tandem with them.
To deviate the entire process, and to silence my whistle blowing voice, and to punish me
with dire consequences, the IOB bank had brought my property into E-Auction as if a regular NPA
recovery process. It is unfortunate, the Presiding Officers of DRT are closing their eyes, not even
looking cursory glance of impeccable evidences placed before them, believe the version of bank as
the only truth and pass impossible and illogical orders difficult to comply with. Fortunately the IOB
bank had left many direct evidences of corruption and malpractice in their hasty act. My offer to
show them in private with top executives of bank so that they can take internal punitive action is
met with no response. I will place them in public forum and in media.

My reply is long. This reply is accessible at www.iob.luz.cc . My long reply with direct
evidences should help either bank or you to file a complaint with competent authority and punish
the culprit directly named by me in this reply

Yours

(Navnit Narayanan)