email on 8th July

pankaj mody
Re:ACKNOWLEDGING RECEIPT OF LETTER OF SHRI ANIL PRATHAM DATED 6TH JULY1 message
pankaj mody
Fri, Jul 8, 2005 at 10:12 AM
Reply-To: pankaj mody
To: Kuldip sharma , "K.C.Kapoor" , secinb@gujarat.gov.in
FOR THE KIND ATTENTION OF SHRI ANIL PRATHAM


SIR,

REFERNCE FILE: ON GTB FRAUD . EOC APPLICATION NO 15/05 AND INQUIRY NO 33/05 AND YOUR LETTER DATED <ぐ颵ᇏ芻ꨀ봀௎噓?۷?譗Ѿ੷譟廎沔>06-07-2005

This is to acknowledge receipt of above letter addressed to me ON 7 TH 2005 and requesting me to furnish the sections applicable.immediately.

In my earlier email annexed here with , I have referred some of the sections based on primae facie discussions with help of some advocates.

Unfortunately, I have dead line to comply in a court matter and obey the court directions by coming Monday and I have to personally attend the court matter in the court since last several days during court hours.

I am consulting a lawyer friends and briefing the matter so that he can suggest the sections in depth and why that particular section is APPLICABLE around 14th July and furnish details to Shri J M Chaudhary and give particulars. Last week , it was not possible on account of heavy rains in the city.

5. Kindly bear with me in view of my statement made in Para 3.


Thanking You.

Yours sincerely,

Pankaj Mody
On 7/6/05, pankaj mody <modyps@gmail.com> wrote:
From

Pankaj S Mody,
Janmangal Apt
40 Brahman Mitra Mandal Society
Paldi , Ahmedabad 380 006
Email modyps@gmail.com

6th July 2005

For the Kind attention of Shri Anil Pratham, Economic Offence wing , Gandhinagar
RESPECTED SIR,

Subject : Protection as well as investigation on GTB fraud connected with Jalundhwala and Core Health care.

I was referred by Shri Anil Pratham of Economic Offence Wing –Gandhinagar to give various sections that can be applicable to in the GTB fraud. The meeting had taken place on Monday -26 th June 2005 at Meghaninagar.

As there were heavy rains last week, I had difficulty in consulting some lawyers. They have referred that it would be necessary to have detailed investigation findings so that they can suggest various sections that can be applicable in the case.

On the basis of primae facie basis , following sections seems to be applicable 120 B , 420, 467, 477A and 13(2) r/a 13(1) (CP) of PC Act.

It appears that Economic Offence wing has has still to carry out detailed investigation pending precautionary steps of extending protection to the undersigned.

I would like to add that all the top executives of Oriental bank of Commerce inspite of emails to them have chosen to remain silent and not furnish detailed replies backed up by documentary evidences. This means that they are primae facie colluded with this group and are covering up the illegal acts of management of GTB for obvious reasons.

I am adducing recent press reports which shows CBI raids on Chairman of GTB –Ramesh Gelli (annexure A) , his linkage with ketan parekh (annexure B) and RBI filing case against Gelli (Annexure C) .

I am reproducing the press release on 3rd January 2005 which showed some of the sections applied by CBI. Here also the same sections of IPC have been referred and the same has been advised by some of my friends as referred in Para 3.Kindly refer Annexure D in this regard.

I do hope that necessary steps are taken on OBC obtain replies from them as regards to the email sent to them so that the Government of Gujarat can earn credit for exposure of vital and important bank scandal.

I do hope that the present information would suffice at the moment to take further urgent steps in investigation of banking fraud.

Thanking you.

Yours sincerely,

Pankaj S Mody




ANNEXURE A

Recently the news of CBI raids on GTB chairman and managing director is reported here.
http://www.indianexpress.com/full_story.php?content_id=73634



Friday, July 01, 2005

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National Network


CBI field day: 31 public servants booked

EXPRESS NEWS SERVICE

NEW DELHI, JUNE 30 After raids at more than 180 places all over the country, the CBI today booked 31 public servants for undetected wealth to the tune of Rs 10 crore.
On the list of departments and organisations under the CBI scanner were Income Tax, Customs, Central Excise, BSNL, Narcotics Control Bureau, National Insurance Company Ltd, Ministry of Water Resources, Ministry of Information Technology and Communication, Delhi Development Authority, NCT Delhi, Delhi Police, Employees' Provident Fund Organisation, Bureau of Indian Standards, NALCO, RITES, PGI Chandigarh, State Bank of India, Railways, National Institute of Design, Industrial Financial Corp. of India (IFCI), Punjab National Bank, Dena Bank, Central Bank of India, the erstwhile Global Trust Bank and Hindustan Organic Chemicals Ltd.

Among those arrested were two superintendents of the Central Excise Anti-Evasion Cell, Kolkata—Maloy Bhattacharya and Debashish Bose.

A case has also been registered against Ramesh Gelli, former CMD of Hyderabad 's erstwhile Global Trust Bank Hyderabad , as also against six other directors and executive directors of the bank for cheating, criminal misappropriation and criminal conspiracy. It was alleged that the bank sanctioned Shonkh Technologies Ltd a loan-overdraft limit of Rs 40 crores as working capital, which was later misused.

A case of disproportionate assets has been registered against Parmatma Rai, DGM, BSNL, Gorakhpur. Preliminary recovery indicates investments in 12 plots in Varanasi, Greater Noida and Indore. The director (ME) of DGS&D, AK Aggarwal, has also been booked on a disproportionate assets charge.

==================================




------------------------------------------------------------------------------
.ANNEXURE B

http://www.deccanherald.com/deccanherald/jul12005/index2155112005630.asp

BANK SCANDAL
Nexus between Parekh, promoter of GTB


DH News Service Bangalore : The Central Bureau of Investigation (CBI) found several "evidence of a nexus" between Ketan Parekh and the main promoter of Global Trust Bank (GTB), Ramesh Gelli during its raid in Bangalore on Thursday. The reported evidence of Parekh using his front companies to misuse banking channels and their accounts in GTB to carry out operations in the stock market were found by the CBI sleuths in Bangalore during their nationwide simultaneous raids in several offices in Hyderabad , Mumbai, Delhi and Bangalore .


Parekh, who then held five percent of GTB stock, allegedly carried out manipulative operations in the bank scrip using the FII broking house, Credit Suisse First Boston (CSFB) and other front companies. These front companies include, Chitrakoot Computers, Goldfish Computers, Nakshatra Software and Luminent Investments. The CBI has found several incriminating documents to the proof that an amount of Rs 32 crore was transferred to these front companies from the GTB branch on M G Road in Bangalore. These illegal transactions came to light after the GTB was amalgamated with OBC.


http://economictimes.indiatimes.com/articleshow/1158112.cms

The Economic Times Online
Printed from economictimes.indiatimes.com > News By Industry > Finance / Insurance> Banking
--------------------------------------------------------------------------------
ANNEXURE C


RBI hauls ex-GTB top execs to court

TIMES NEWS NETWORK[ SATURDAY, JULY 02, 2005 01:00:07 AM ]
Surf 'N' Earn -Sign innow
MUMBAI: This is one matter which continues to bug the Reserve Bank of India (RBI). The financial regulator has moved the court against the senior management of the erstwhile Global Trust Bank (GTB) for falsification and misstatement of accounts in '01-02 and '03.
The petition was admitted at the Mumbai Metropolitan Magistrate Court this week. The central bank is already waging war in court with the auditors of the private bank that was merged with the government owned Oriental Bank of Commerce in July '04.

Sudhakar Gande became the CEO of GTB after the RBI appointed managing director, RS Hugar, resigned in November '01. The RBI has alleged that the bank had violated the section 46(1) of the Banking Regulation Act in connection to submission of returns. Even in its inspection report on GTB for '01-02, RBI had pointed out huge gaps in the bank's provisioning figures.

The quantum of bad loans estimated by RBI were at unsustainable levels. RBI had subsequently hired the services of Bhaskar Rao & Co, a Hyderabad-based audit firm, to carry out a special audit of the bank.

After the messy break-up of GTB's merger with UTI Bank, GTB promoter Ramesh Gelli had stepped down from chairmanship in April '01. Following RBI directions, he later resigned as a director from the bank's board in June '01.

Even though the Joint Parliamentary Committee (JPC) which probed the Ketan Parekh scam virtually gave a clean chit to Mr Gelli, the central bank had already blacklisted him.

GTB has been under investigation for high exposure to capital market by way of advances against shares and guarantees, fluctuations in the prices of its shares and allegations of insider trading in the GTB scrip, and diversion of funds taken as loan from the bank by Ketan Parekh and others. The JPC report, however, said, "Prior to the announcement of the merger of GTB with UTI Bank, the promoters have not benefited as a result of price increase if any, either by sale of their holdings at higher share prices or beneficial swap ratio."

Following this there were even talks of Mr Gelli staging a possible come back. However, this never went down well with the regulator.


ANNEXURE D


http://pib.nic.in/release/release.asp?relid=6221



OBC FINDS SERIOUS FINANCIAL IMPROPRIETIES IN ERSTWHILE GTB

FILES CRIMINAL COMPLAINTS WITH CBI
--------------------------------------------------------------------------------

13:51 IST
Oriental Bank of Commerce (OBC) in its due diligence exercise after the amalgamation of the erstwhile Global Trust Bank Ltd. (EGTB) has come across cases of borrowal accounts where serious financial improprieties have been observed. Internal investigations have revealed that the Bank has taken high credit exposures in certain accounts even exceeding exposure norms prescribed by Reserve Bank of India . High degree of imprudence in exercise of sanctioning powers have been observed where the bank appears to have abetted certain group of borrowers to siphon off funds through banking channel. The conduct of most of these accounts reveal that deliberate attempts have been made to camouflage the position of NPAs by making fresh sanctions in sister/allied concerns including some front companies.


On the basis of internal investigation OBC has filed criminal complaints with the CBI in the following cases :


( i) In the case of M/s Unitel Software Ltd. for having caused wrongful loss to the tune of Rs. 676.79 lakhs to the bank in the matter of sanction, disbursal and utilization of the credit facilities. The CBI Mumbai has registered a regular case under Section 120-B read with Section 409 and 420 of the Indian Penal Code vide case No. 1/C/28/2004-BS&FC/LO.


(ii) In the case of Shri Ashok Advani of M/s. Business India Publications, Mumbai, the CBI has registered a regular case No. 1/C/33-2004/BS&FC/LO under Section 120-B read with Section 409 and 420 IPC against Shri Ashok Advani and unnamed officials of the bank for cheating the bank to the tune of Rs. 15 crores by obtaining credit facilities on the basis of misrepresentation. It was falsely mentioned in the process note that the account of M/s Business India was a new one, whereas Business India was banking with erstwhile GTB since 1994 and had defaulted in payment of credit facilities sanctioned earlier.


(iii) In the case of M/s Petro Energy Products Co. Ltd. (PEPCO), the Company cheated the erstwhile GTB to the tune of Rs. 78.41 crores at Bandra, Mumbai Branch and Rs. 23.15 crores at the Chennai Branch. CBI has registered a PE at Mumbai against M/s PEPCO and unnamed bank officials vide case No. 1/C/31/2004-BS&FC/LO.


(iv) In the case of M/s. Shonk Technologies International Ltd. (STIL), a wrongful loss to the tune of Rs. 38.49 crores was caused to the erstwhile GTB on the basis of misrepresentations and diversion the funds for purposes other than for which the loan was sanctioned. CBI has registered a PE vide case No.1/ C/30/2004-BS&FC/LO.


(v) In the case of M/s Pearl Distilleries Ltd., CBI has registered a complaint at Bangalore for having caused wrongful loss of Rs. 10.28 crores to the bank in the sanction and disbursal and utilization of credit facilities vide case No. 1/C/32/2004-BS&FC/LO.


Some other cases are also being examined and it is likely that OBC will lodge further complaints with CBI in due course.



On 6/4/05, pankaj mody <modyps@gmail.com> wrote:
FROM : PANKAJ S MODY 40 BRAHMAN MITRA MANDAL SOCPALDI AHMEDABAD 380 006EMAIL modyps@gmail.com4th June 2005 For the Kind attention of Shri Kuldip SharmaRespected Sir, This is in reference to my earlier emails addressed to you as advised by Home Secretary Shri K C Kapoor on the above subject. I am annexing copy of email sent to the Oriental Bank of Commerce from time to time and last one has been despatched on Friday. I am enclosing letters addressed to Shri J M Chaudhary and some initial guidelines so that he can investigate the matter in detail by collecting the evidences and recording the statement . One letter has been despatched on 29-05-2005 and the same concerns with issues that needs to be raised on GTB . Second one is concerning Jalundhwala and the same is being despatched to him by Speed Post. to him . It is necessary that he furnishes to me - a copy of the detailed reply obtained from various persons backed by various documentary evidences . I would like to draw your attention that Sushil Handa and Jatin Jalundhwala are clever to deceive J M Chaudhary and till date they have been able to go scot free . I do hope that he is being informed to interrogate them thoroughly as they have habit of suppressing material facts where by they can tamper evidences in collusion with the bankers and also side track Shri Chaudhary in detecting the fraud. . I was referred by Mr. J M Chaudhary that , the office of Police Commissioner has been given instructions to arrange for protection during investigation but nothing has been done by them or Navrang pura police station. It appears they disregard the instructions given by the seniors of the Government of Gujarat. Now you would be able to appreciate that such lethargy and sloth from the office of the Police commissioner's office cause immense damage to me and my rights reulting in loss of possession of property as conveyed to them from time to time I fail to understand how come the Government of Gujarat tolerates such lethargy in the Police Commissioner's office which can tarnish the image of the seniors while affectng a person like me adversely and i am leading a life of vegetable in the state of Gujarat since last several years and there is no one in the Police department who wants to protect the dignity and respect of an educated person like me. while the crooks like sushil handa and the GTB bank go scot free. In view of earlier emails to the Honorable Chief Minister of Gujarat, I humbly request you to hold the immoveable property in police custody pending further investigation on the banking fraud with GTB by Jalundhwala and Sushil Handa in collusion with GTB officials. I do hope for positive response from your side at the earliest. For me raising and spending every rupee is becoming more and more difficult and there is no one to understand that it is extremely dificult to manage internet expenses and taking a print out copies . In case personal dignity of an informant like me cannot be saved be kind enough to auction my body organs so that I can die in peace.There is limit to tolerate humiliation for so long. There is limit to the patience of a person. who has to lead a life of vegetable for so long and the Police department has become inefficient and ineffective unless one pays speed money to get the work done. The police department is meant to save scamsters like Sushil Handa and Jatin Jalundhwala and the staff of GTB management who can spend large funds so that their fraudulent acts of banking frauds do not get exposed . I do hope that my message is taken in a positive spirit as well as sense of urgency. Thanking you. Yours most respectfully,Pankaj S Mody . ---------- Forwarded message ---------- From: pankaj mody <mailto:modyps@gmail.com>Date: Jun 3, 2005 8:35 PM Subject: ERSTWHILE GLOBAL TRUST BANK ON CG ROAD -AHMEDABAD GIVING FRAUDULENTLY LOAN OF RS 12.5 CRORES TO CORE HEATLH CARE BY CREATING CHARGE ON IMMOVEABLE PROPERTY LOCATED NEAR PARIMAL CROSSING -AHMEDABADTo: cmd@obc.co.in, akmishra@obc.co.in, mailto:rh_ahm@obc.co.in, edp_ahm@obc.co.inCc: dbsahmedabad@rbi.org.in, dbshyderabad@rbi.org.in, dbsnewdelhi@rbi.org.in, hcguj@guj.nic.in, helpahmedabad@rbi.org.in


From:-
Pankaj S Mody
Janmangal Flat
40 Brhaman Mitra Manda Society
Ahmedabad 380 006

mailto:modyps@gmail.com

03-06-2005



1)
THE CHAIRMAN AND MANAGING DIRECTOR
ORIENTAL BANK OF COMMERCE
NEW DELHI
Email : cmd@obc.co.in,

2)
MR. A.K. MISHRA , GENERAL MANAGER (VIGILANCE)
NEW DELHI,
Email : mailto:akmishra@obc.co.in


3)
THE REGIONAL HEAD
ORIENTAL BANK OF COMMERCE
CHANAYKYA , 4TH FLOOR, NEAR DINESH HALL
OFF ASHRAM ROAD
PHONE: 26587539,26585830, FAX 26589456
Email : mailto:rh_ahm@obc.co.in, mailto:edp_ahm@obc.co.in

4)
Erstwhile Global Trust Bank
G-2 SAMEDH, NEAR ASSOCIATED PETROL PUMP
C.G. ROAD
AHMEDABAD
PHONE : 91-79-26405595, FAX 91-79-26405597




Sir,


SUBJECT:- GTB BRANCH ON CG ROAD IN AHMEDABAD EXTENDING OF TERM LOAN OF RS 12.5 CRORES TO CORE HEALTH CARE BY CREATING CHARGE ON IMMOVEABLE PORPERTY UNDER SIGNATURE OF JATIN JALUNDHWALA


1. This is in reference my earlier emails addressed to OBC FROM time to time for charge created by GTB for Rs 12.5 crore. You have failed to give satisfactory and transparent detailed reply to my emails deliberately. The earlier emails are adduced herewith. Kindly send fax to the branch located on CG Road in Ahmedabad immediately.

2. I would like to draw your attention that the next date for criminal defamation case 3326/99 is fixed on 15-06-2005 in the Metropolitan Court 22 at Meghaninagar. Kindly furnish detailed reply to the points referred in paragraph 5 of the present email show as to show your intentions and transparency in your dealings. Core Healthcare and Jatin Jalundhwala has failed to attend the Metropolitan court in December 2004 , March 2005 and April 2005 which shows that charge created by Jalundhwala was fraudulent.

3. In case , you fail to furnish details to the undersigned , then you are openly accepting that the creation of charge on Rupmanglam Investment Pvt Ltd property was done fraudulently and you have decided to encroaching on my rights of the immoveable property illegally and shamelessly with a deliberate intention to steal and grab the property and OBC management confirms that it is in collusion with management of GTB , Core Health Care and Sushil Handa and does not have any defence for the fraudulent acts.

4. Once again you are called upon to furnish a detailed reply to the present e mail as well as earlier emails to the undersigned while marking a copy of your detailed reply to the Gujarat High Court as well as Department of Banking Supervision simultaneously immediately on receipt of the present email but not later than evening of 7 th June 2005. The present email is being presented to the Judiciary as well as other crime investigating agencies.





5. Kindly furnish detailed reply to the following to start with :-


(a) That GTB has failed to furnish documentary evidence as to how Mr. Jatin Jalundhwala and Mr. Ameet Sesai continue as directors of Rupmanglam Investment Private Ltd after EXPIRY OF TERM AS ADDITIONAL DIRECTOR .GTB has failed to furnish any search report from ROC that the additional directorship of Jalundhwala and Desai stands renewed with written consent of Mody family directors and GTB management cannot plead ignorance that they do not know about such basic understanding while sanctioning facility.


(b) The copy of title deed register furnished to the court commissioner and the memorandum of entry furnished to the undersigned does not reflect any supporting documentary evidence that Mody family members have CEASED TO be directors of Rupmnglam Investment Pvt Ltd.


(c) The copy of title deeds registar and Memorandum of Entry furnished by GTB does not reflect ANY supporting evidence that Jatin Jalundhwala and Ameet Desai are SOLE, EXCLUSIVE directors of Rupmanglam Investment Pvt Ltd.


(d) That GTB has failed to include certificate from the auditors of Rupmanglam (Kashiparekhs ) that Ameet Desai and Jatin Jalundhwala are the SOLE Directors of Rupmanglam to create charge on immoveable property of Rupmanglam.


(e) That GTB has failed to furnish their internal appraisal report showing documentary evidence that Dhanyusha Financial , Jalundhwala and Core Health Care has received written confirmation from the ESCROW PERSONS CONSISTING OF Soparkar and Kashiparekh (as referred in the MOU ) that they have officially have handed over simultaneously all the documents as well as physical possession after obtaining no objection certificate from various mody family members including Pankaj Mody as far as property owned by Rupmangalam and Flovin .

(f) That GTB has failed to obtain concurrence from the auditors of Rupmangalam that Jalundhwala has all necessary authority and power to create charge on behalf of Legal shareholders and legal directors of Rupmangalam Investment Pvt ltd and such concurrence is not reflected in the tittle deeds register furnished by GTB to the court commissioner and the same is not reflected in copy of memorandum of entry furnished to Pankaj Mody .


(g) That GTB has failed to show any documentary evidence in title deeds registar as well as Memorandum of entry that the stay of Revenue department has been lifted at the time of creation of charge in March 1999.


(h) That GTB has failed to deposit original sale document in favour of Shri Parbhulal Bhikhabhai Shah with the authorities while creating charge of Rupmangalm and Flovin confirming that charge creation was fraudulent.


(i) That GTB at the time of creation of charge has failed to adduce (i) sale deed document between Rupmnaglam and Dhanyuhsya that constructed portion of bunglow exclusively belonging to Rupmangalm has been sold to Dhanyushya (ii) sale deed document between Rupmanglam and Flovin that constructed portion of bunglow exclusively belonging to Rupmangalm has been sold to Flovin.


(j) That GTB has failed to furnish documentary evidence that GTB HAS thoroughly and minutely verified own their own that Span Medicals is the sole and exclusive legal owners of Final Plot 768/10 instead of blindly believing on any certificates.


(k) That GTB has failed to give any reasoning as why the sanction of loan was enhanced from Rs 11 crores to Rs 12.5 crores within six months.


(l) That GTB has failed to give reasons as to why they chose to give loan to Core Healthcare especially when the balance sheet of Core Health care depicted that one another bank had filed case against Core health care and the Core health care was already facing liquidity problems.


(m) That GTB has failed to give any explanation as to the reason why they wanted to extend facility to Core Healthcare with support of Jalundhwala when Core Healthcare extended approximately Rs 39 crores non-interest bearing loan to its subsidiary Technology Finance with Jalundhwala as its director .


(n) That GTB and OBC has failed to prove the legality of creation of charge by compelling Core healthcare and Jalundhwala and GTB officials to adduce necessary evidence in the criminal defamation case 3326/99 in light of correspondence from time to time.


(o) That GTB has not furnished detailed INTERNAL findings and written statements in light of letter addressed to them on 24-7-99.

PLEASE SEE THAT YOU ACKNOWLEDGE MY EMAIL FORTHWWITH AND ALSO GIVE DETAILED REPLY 7 TH JUNE 2005.

Yours sincerely,


Pankaj S Mody


---------- Forwarded message ----------From: pankaj mody <modyps@gmail.com>Date: May 5, 2005 4:28 PMSubject: ERSTWHILE GLOBAL TRUST BANK ON CG ROAD -AHMEDABAD GIVING FRAUDULENTLY LOAN OF RS 12.5 CRORES TO CORE HEATLH CARE BY CREATING CHARGE ON IMMOVEABLE PROPERTY LOCATED NEAR PARIMAL CROSSING -AHMEDABADTo: rh_ahm@obc.co.in, mailto:edp_ahm@obc.co.in, helpahmedabad@rbi.org.in, rbbarman@rbi.org.in, cmd@obc.co.in, akmishra@obc.co.in, dbsahmedabad@rbi.org.inCc: hcguj@guj.nic.in, cvc@alpha.nic.in, pshome@gujarat.gov.in, suchetadalal@yahoo.com, manubhai_cerc@hotmail.com, mailto:sg@expressindia.com
TOP PRIORITY
FROM :
PANKAJ S MODY
2ND FLOOR , JANMANGAL APT
40 BMM SOCIETY , PALDI
AHMEDABAD 380 006
EMAIL: mailto:modyps@gmail.com

5th May 2005
The Regional Head
1)
ORIENTAL BANK OF COMMERCE
CHANAKAYA, 4TH FLOOR,NEAR DINESH HALL
OFF ASHRAM ROAD
AHMEDABAD
PHONE 26587539,26585830, FAX 26589456
EMAIL: rh_ahm@obc.co.in, edp_ahm@obc.co.in


2) ORIENTAL BANK OF COMMERCE
G-2 SAMEDH, NEAR ASSOCIATED PETROL PUMP
CG ROAD, AHMEDABAD
FAX 91-79-26405597,
PHONE:- 26405595,
SIR,
SUBJECT : GTB BRANCH on CG Road in Ahmedabad extending of term loan of Rs 12.5 crores to Core health care by creating charge on immoveable property under signature of Jatin jalundhwala.
This is in continuation to my email dated 27-12-2004 and the reply dated 16-2-2005 of EGTB –CG Road branch in Ahmedabad given to the undersigned after affixing possession notice dated 31-1-2005 on the immoveable property. Their excuses show the guilty conscience.
From your reply it is clear that the management of OBC is behaving like ostrich sinking its head in the sand so as to turn a blind eye so as to grab illegally the possession of the property by encroaching and trespassing the immoveable property. Your excuse that the matter is sub-judice is to veil illegal acts of grabbing the property.
It is obligatory on the part of management of OBC to maintain clean , ethical transparent and honest approach and I therefore look forward to your detailed reply by email latest by 8 th May 2005 to me as well as to the Honourable Chief Justice of Gujarat High Court (reference email hcguj@guj.nic.in ) especially when GTB has not attended the court proceedings in Gujarat High Court pertaining to the Appeal from order 176/2003. I need to have detailed reply to the various points referred in the enclosure from the management of OBC latest by 8th May 2005 to the various points referred in the ANNEXURE A.
Your failure to do so would construe that you lack conviction about legality of the charge on the immoveable property referred in suit 5827/2001and the management of OBC wants to openly and shamelessly shield Sushil Handa as well as the management of GTB and OBC would be considered as a crook banker for concealing and suppressing vital facts and the bank cannot be trusted to follow standard of ethics.
The present email is a public exposure so that the depositors and the public at large can judge ethical standards on part of OBC . I am giving wide awareness so that depositors can decide whether OBC is also taking route of GTB . Let every one see whether OBC openly blows a whistle or not to expose the scamsters such as Sushil Handa and Ramesh Gelli as well as other colluders promptly or not. This would test the bank's authenticity , conviction, honesty, sincerity and openness.
You shall immediately send a copy of the present email to EGTB branch on CG Road in Ahmedabad by fax as well as the other connected officials in OBC for immediate action as well as report findings to the Honorable Chief Justice of Gujarat High Court .
I reserve my right to draw attention of other additional points. A copy has been marked to Gujarat High Court for drawing the attention of judiciary on account of indifference and lack of transparency from your side.
Kindly acknowledge receipt of my email.
Yours sincerely,
Pankaj S Mody.


ENCLOSURE A
1. At the time of appraisal , GTB officers would have carried out minute verification as part of due diligence exercise as to why Jatin Jalundhwala would want to create charge on immoveable property so that GTB decided extend Rs 12.5 crores to Core Health care especially when it would not derive any benefit to the shareholders of Rupmangalam and Flovin.

2. GTB officers at the time of appraisal as part of due diligence exercise would have carried out search of ROC records by paying search fees with ROC prior to August 1998. They would have further observed that Jatin Jalundhwala had not filed any audited balances sheet pertaining to Rupmangalm Investment Pvt Ltd and Flovin Plastics Pvt Ltd under his signature as director along with the signature of the auditors Kashiparekhs. This due diligence exercise has been deliberately avoided in collusion with each other.

3. GTB officers at the time of appraisal in 1998 would have noticed from ROC records that Dhanyushaya had not submitted any balance sheet which showed that they were the sole shareholders of Rupmanglam and Flovin so as to allow legal directors of Rupmangalam and Flovin to create legal charge on immoveable property . GTB officers as well as OBC management would have such legal knowledge that without concurrence of the legal shareholders it is not possible to create charge on immoveable property. Neither GTB officials nor OBC bank officials can plead ignorance and/or play blind.

4. The GTB management has openly flouted the stay orders passed by the Revenue department of Gujarat Government at the time of creation of charge in August 1998 for Rs 11 crores as evident from the record of right 7/12. The bank documentation furnished in the court proceedings does not show that the stay was lifted by revenue department at the time of creation of charge and this shows that Jatin Jalundhwala had colluded with the management of GTB to create charge on immoveable property illegally as well as fraudulently.

5. It has been standard and prudent practice of any conservative banker to collect the background history by going through the papers such as memorandum of understandings and seek detailed clarification as to when Mr. Jalundhwala has received the documents of ownership from the escrow persons consisting of Hemant Kashiparekh and Saurabh Soparkar along with their written notarized affidavit especially when the amount of loan exceeds Rs 10 crores. This has not been done by the officers of Global Trust Bank at the time of appraisal.

6. GTB officials as well as OBC officials cannot take a stand of ignorance that the presence of any additional director gives an automatic right to the so called additional director to continue beyond next annual general meeting.

7. GTB officials as well as OBC officials would have atleast sense to understand that once the term of additional director expires then such so called additional director after his term as additional director does not have any authority to accept resignation of any director. Neither GTB officials nor OBC officials can plead ignorance to such fundamentals.

8. GTB officials would have known from the court proceedings that Jatin Jalundhwala and Dhanyushaya has failed to furnish various documents to the court commissioner as well as to the Judiciary following documents as referred in para nine of the Appeal from order:- http://www.afo176.blogspot.com/
· Statutory records such as minute book of directors and shareholders of Rupmanglam .
· Share certificates pertaining to Rupmangalam .
· Share transfer forms pertaining to Rupmangalam
· Share Registar of Rupmangalam
· Audited balance sheet from 96 onwards in relation to Rupmangalm along with acknowledgment of income tax returns filed and assessment orders.
· 37I permission from the income tax department in relation to the property owned by Rupmangalam in particular.
· Copy of all documents furnished to the Registrar of companies along with copy of acknowledgment from 31-3-95.
· All correspondence with directors and shareholders .
· All correspondence and documents for availing facility from defendant 4.
· Auditor report for share transfer in respect of shares of Rupmangalam Investment
· Audited balance sheet of defendant 1 from 1996 onwards till date.

9. The management of OBC would furnish a detailed explanation of written arguments furnished by the undersigned to the judiciary so as to impart clarity of facts.
http://mediagtbpsm.blogspot.com/2004/10/written-arguments-presented-by-mr-mody.html
http://mediagtbpsm.blogspot.com/2004/09/text-of-written-arguments-on-17-3-2003.html

10. GTB management at the time of appraisal facilites in 1998 is supposed to have studied Core Health Care balance sheets and is supposed to have observed that a case was filed against for recovery of dues and hence, GTB manangement must not have sanctioned term loan facilities at all to Core Health care Ltd.( Directors report of Core Health care for 96-97 referred that … " One of the lenders also took harsh action by initiating legal proceedings." Oriental Bank of officers ought to have taken criminal action against all the concerned officials of GTB in sanctioning the facilities of Core Healthcare and OBC management cannot be a mute spectator and turn a blind eye . Simultaneously OBC has to take criminal action against directors of Core Health care for colluding with the management of GTB.

11. GTB management of the time of appraisal facilities in 1998 must have observed that Core Healthcare had advanced interest-free loan to Technology Finance having Jatin Jalundhwala as the director of Technology Finance. Any prudent and conservative banker would have questioned the Board of Directors of Core Healthcare as to the reason why they are seeking interest bearing loan from GTB where Jatin Jalundhwala is signatory to creation of charge. This establishes collusion of GTB management with this group that GTB is helping them to siphon the funds to be utilized for the purpose other then those for which the loan was sought to be begged for. It would be apparent from the notice given to Core Healthcare on 12-1-2000 The following internet link shows the details :-
http://corehealthcare.blogspot.com/2004/08/notice-served-to-core-health-care-on.html
The extract of reply given by their advocate A D Shah makes it abundantly clear that that Core Healthcare do not have any valid explanation to offer. The reply extract is in form of a comment beneath the notice.

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