1. Prima Facie Indicators of Criminal Conspiracy
You, as the primary MSME borrower, have been deliberately excluded from:
- Payment disclosures
- Communication regarding foreclosure
- Authorization of the so-called “loan closure”
This deliberate exclusion violates both:
- Your contractual rights as the original borrower, and
- Fiduciary duties under Indian banking norms and RBI guidelines.
The evidence suggests:
- Fraudulent closure of loan using undisclosed third-party payments, possibly to “show settlement” under a manipulated co-borrower narrative.
- Use of false representation involving your 82-year-old mother, which could amount to coercion, forgery, and criminal misrepresentation.
2. Applicable Legal Provisions & Violations
📌 Indian Penal Code (IPC)
- Section 120B – Criminal conspiracy
- Section 406/409 – Criminal breach of trust (by CA/Bank staff)
- Section 415/420 – Cheating and fraud
- Section 463–471 – Forgery, using forged documents
- Section 499 – Defamation (in terms of false co-borrower narrative damaging your business credibility)
📌 Banking Regulation & Contract Law
- Reserve Bank of India (RBI) Master Circular on Customer Rights:
- Concealing payment updates from the main borrower violates fair disclosure norms and RBI Code of Banking Conduct.
- Indian Contract Act, 1872:
- Section 17 – Fraud
- Section 18 – Misrepresentation
- Section 23 – Agreements made under unlawful consideration
📌 SARFAESI Act
- Section 13(2) & 13(4): Any enforcement of security interest (possession) requires valid notice to the borrower and full disclosure of outstanding amounts.
- If the so-called “loan closure” was made using non-transparent funds and you were never notified, any possession action is void ab initio.
3. Specific Documents Raise Suspicion of Forgery
From the scanned files:
- Multiple blank stamp papers, undated power of attorney, and declarations without your name filled in indicate forced pre-signing, which you have already claimed.
- These documents have likely been misused and backfilled later, enabling:
- Irregular disbursal of a Home Loan (not your intended MSME Loan)
- Forcible possession and auction attempt of your parents’ property
📢 Immediate Recommended Actions:
✅ Legal Complaint to Economic Offences Wing (EOW):
Alleging:
- Fraudulent closure of loan using unknown funds
- Unauthorized possession action
- Concealment and suppression of loan account updates
- Conspiracy involving CA, co-borrowers, and ICICI recovery agents
✅ RTI + RBI Banking Ombudsman Petition:
Demand full account of:
- Who made payment?
- Which account the funds came from?
- Whether any foreclosure authorization was on record by you, the primary borrower
✅ Application to DRT/DRAT to Stay Possession (or Seek Reversal)
Under:
- Section 17 of SARFAESI Act
- Supported by Sections 19, 25, 73, and 74 of Indian Contract Act for breach and damages