{"id":3203,"date":"2025-07-15T18:38:26","date_gmt":"2025-07-15T18:38:26","guid":{"rendered":"https:\/\/noveltyofsilver.com\/services\/?p=3203"},"modified":"2025-07-15T19:10:30","modified_gmt":"2025-07-15T19:10:30","slug":"%f0%9f%94%b4-list-of-alleged-frauds-and-violations-by-icici-bank","status":"publish","type":"post","link":"https:\/\/noveltyofsilver.com\/services\/%f0%9f%94%b4-list-of-alleged-frauds-and-violations-by-icici-bank\/","title":{"rendered":"\ud83d\udd34 List of Alleged Frauds and Violations by ICICI Bank"},"content":{"rendered":"\n
\n

ICICI Bank has unlawfully withheld export shipments that were fully paid for in advance by our international buyers and deliberately refused to disburse sanctioned credit facilities after securing high-value property under mortgage as collateral to prepare, manufacture, and ship export orders received from our long-standing buyers. These actions directly led to the collapse of our export operations, causing confirmed financial losses to buyers across the USA, Canada, and Europe. Despite initiating legal proceedings before the Debt Recovery Tribunal (DRT) and submitting multiple formal complaints, no effective relief has been granted. This continued inaction strongly suggests collusion between ICICI Bank and certain corrupt and biased officials within the judicial and tribunal systems, driven by the misuse of the bank\u2019s financial and political influence.<\/p>\n<\/blockquote>\n\n\n\n

I. \ud83d\udd10 Forgery & Fabrication of Legal Documents<\/strong><\/h3>\n\n\n\n
    \n
  1. Forgery of Mortgage Deeds<\/strong>
    <\/strong>\n
      \n
    • ICICI Bank allegedly forged equitable mortgage deeds using blank signed stamp papers.
      <\/li>\n\n\n\n
    • No registered mortgage deed under Sec. 17 of the Indian Registration Act.
      <\/li>\n\n\n\n
    • \u274c Violation: Sec. 464 IPC (Forgery), Sec. 463, Sec. 468.
      <\/li>\n\n\n\n
    • \ud83d\udcdc Case Law<\/em>: S.P. Chengalvaraya Naidu v. Jagannath<\/em> (1994) \u2014 Forgery renders decree void.
      <\/li>\n<\/ul>\n<\/li>\n\n\n\n
    • Production of False Documents in DRT & Courts<\/strong>
      <\/strong>\n
        \n
      • Fabricated \u201cIrrevocable Power of Attorney\u201d, Undertakings, Declaration-cum-Affidavit produced without lawful execution or registration.
        <\/li>\n\n\n\n
      • \u274c Violations: IPC Sec. 471 (Using forged documents as genuine).
        <\/li>\n\n\n\n
      • \ud83d\udcdc Case Law<\/em>: A.S. Krishna v. State of Maharashtra<\/em> AIR 1966 SC 119 \u2014 Deliberate use of false evidence violates judicial sanctity.
        <\/li>\n<\/ul>\n<\/li>\n\n\n\n
      • Use of Blank Signed Documents<\/strong>
        <\/strong>\n
          \n
        • Bank allegedly obtained blank facility agreements, stamp papers, disbursement forms and inserted false entries.
          <\/li>\n\n\n\n
        • \u274c Violation: Indian Contract Act Sec. 10 (Free consent), Sec. 17 (Fraud).
          <\/li>\n\n\n\n
        • \ud83d\udcdc Case Law<\/em>: K.K. Modi v. K.N. Modi<\/em>, AIR 1998 SC 1297.
          <\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
          \n\n\n\n

          II. \ud83d\udcb0 Loan Sanction and Disbursement Frauds<\/strong><\/h3>\n\n\n\n
            \n
          1. Non-disbursement of Sanctioned Loan<\/strong>
            <\/strong>\n
              \n
            • Only \u20b937.16 lakhs disbursed out of \u20b92.5 crores sanctioned.
              <\/li>\n\n\n\n
            • Caused default by closing existing facilities of \u20b993 lakhs from UUCB and NBFCs.
              <\/li>\n\n\n\n
            • \u274c Violation: ICA Sec. 73 (Loss from breach), Sec. 25 (Failure of consideration).
              <\/li>\n\n\n\n
            • \ud83d\udcdc Case Law<\/em>: Union of India v. Chaman Lal Loona<\/em>, AIR 1957 SC 652 \u2014 Contract void if consideration fails.
              <\/li>\n<\/ul>\n<\/li>\n\n\n\n
            • False Representation in Disbursement Schedule<\/strong>
              <\/strong>\n
                \n
              • Fake ledger entries shown as disbursed without actual credit to borrower\u2019s account.
                <\/li>\n\n\n\n
              • \u274c Violation: RBI Master Circular on Loan Disbursement; Banking Regulation Act Sec. 10B.
                <\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
                \n\n\n\n

                III. \ud83d\udcc4 Stamp & Legal Execution Frauds<\/strong><\/h3>\n\n\n\n
                  \n
                1. Blank Stamp Undertakings<\/strong>
                  <\/strong>\n
                    \n
                  • Misuse of blank Rajasthan stamp undertakings filled later for mortgage legality without informing the borrower.
                    <\/li>\n\n\n\n
                  • \u274c Violation: Indian Stamp Act Sec. 35 (Invalidity without proper stamping).
                    <\/li>\n<\/ul>\n<\/li>\n\n\n\n
                  • Unregistered Agreements Presented as Valid<\/strong>
                    <\/strong>\n
                      \n
                    • Facility Agreements not properly dated, undated declarations used, non-notarized POAs produced in DRT.
                      <\/li>\n\n\n\n
                    • \ud83d\udcdc Case Law<\/em>: K.K. Bhalla v. DDA<\/em>, (2011) 5 SCC 523 \u2014 Unregistered documents not enforceable.
                      <\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
                      \n\n\n\n

                      IV. \u2696\ufe0f Judicial Misrepresentation & Suppression<\/strong><\/h3>\n\n\n\n
                        \n
                      1. Suppression of Borrower’s Rights in DRT\/DRAT<\/strong>
                        <\/strong>\n
                          \n
                        • Issues raised in IA (Interlocutory Applications) never answered.
                          <\/li>\n\n\n\n
                        • DRT Jaipur dismissed SA-351\/2024 on dated : 08 May 2025 without heard on merit and without examining fraud allegations and all other lawful complaint raised against ICICI Bank.
                          <\/li>\n\n\n\n
                        • \u274c Violation: SARFAESI Act Sec. 17 read with Art. 14, 21 of Constitution.
                          <\/li>\n<\/ul>\n<\/li>\n\n\n\n
                        • False Narrative by Co-Borrowers and Advocate<\/strong>
                          <\/strong>\n
                            \n
                          • Claimed borrower spent money on luxury and didn’t pay EMI \u2014 contradictory to records of EMIs paid.
                            <\/li>\n\n\n\n
                          • Used to manipulate DRT Officer and deny relief.
                            <\/li>\n\n\n\n
                          • \ud83d\udcdc Case Law<\/em>: Dalip Singh v. State of U.P.<\/em>, (2010) 2 SCC 114 \u2014 Litigants approaching court must come with clean hands.
                            <\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
                            \n\n\n\n

                            V. \ud83d\uded1 Misuse of Force and Illegal Possession<\/strong><\/h3>\n\n\n\n
                              \n
                            1. Illegal Possession by Recovery Team<\/strong>
                              <\/strong><\/li>\n<\/ol>\n\n\n\n
                                \n
                              • Eviction on 09-03-2025 using force despite DRT reliefs.
                                <\/li>\n\n\n\n
                              • Recovery Manager Nitin Joshi with 30 people allegedly violated all norms of SARFAESI Sec. 13(4), 14.
                                <\/li>\n\n\n\n
                              • \u274c Violation: Article 21 \u2013 Right to Dignity & Livelihood.
                                <\/li>\n\n\n\n
                              • \ud83d\udcdc Case Law<\/em>: K.S. Puttaswamy v. Union of India<\/em>, 2017 (9) SCC 1.
                                <\/li>\n<\/ul>\n\n\n\n
                                  \n
                                1. Inhuman Treatment of MSME Borrower<\/strong>
                                  <\/strong><\/li>\n<\/ol>\n\n\n\n
                                    \n
                                  • Serious sciatica patient (user) forced to carry bags during eviction.
                                    <\/li>\n\n\n\n
                                  • \u274c Violation: NHRC Guidelines, Human Rights Protection Act Sec. 12.
                                    <\/li>\n\n\n\n
                                  • \ud83d\udcdc Case Law<\/em>: Francis Coralie Mullin v. Union Territory of Delhi<\/em>, AIR 1981 SC 746.
                                    <\/li>\n<\/ul>\n\n\n\n
                                    \n\n\n\n

                                    VI. \ud83c\udfdb\ufe0f Regulatory and Statutory Non-compliance<\/strong><\/h3>\n\n\n\n
                                      \n
                                    1. Violation of RBI Circulars for MSME Relief (COVID)<\/strong>
                                      <\/strong><\/li>\n<\/ol>\n\n\n\n
                                        \n
                                      • Refused restructuring\/rescheduling under RBI circulars.
                                        <\/li>\n\n\n\n
                                      • \u274c Violation: RBI Circular dated 06-08-2020 (Resolution Framework for COVID-19).
                                        <\/li>\n<\/ul>\n\n\n\n
                                          \n
                                        1. Non-Compliance with RBI KYC\/Communication Norms<\/strong>
                                          <\/strong><\/li>\n<\/ol>\n\n\n\n
                                            \n
                                          • Despite updated contact details, never informed the main borrower about key loan actions or alleged foreclosure.
                                            <\/li>\n\n\n\n
                                          • \ud83d\udcdc Case Law<\/em>: Canara Bank v. Amar Nath<\/em>, AIR 2000 SC 3629 \u2014 Procedural fairness required in banking actions.
                                            <\/li>\n<\/ul>\n\n\n\n
                                              \n
                                            1. Retention of Collateral Title Documents<\/strong>
                                              <\/strong><\/li>\n<\/ol>\n\n\n\n
                                                \n
                                              • Despite closure of prior NBFC\/UUCB loans, ICICI retained joint property collateral unlawfully.
                                                <\/li>\n\n\n\n
                                              • \u274c Violation: ICA Sec. 72 (Obligation to return benefit obtained without right).
                                                <\/li>\n<\/ul>\n\n\n\n

                                                <\/p>\n","protected":false},"excerpt":{"rendered":"

                                                ICICI Bank has unlawfully withheld export shipments that were fully paid for in advance by our international buyers and deliberately refused to disburse sanctioned credit facilities after securing high-value property under mortgage as collateral to prepare, manufacture, and ship export orders received from our long-standing buyers. These actions directly led to the collapse of our […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[96,93,94,36],"tags":[66,65,45,61,55],"class_list":["post-3203","post","type-post","status-publish","format-standard","hentry","category-complaint-submission","category-diplomatic-circulation","category-international-press-release","category-loss-of-clients-opportunities","tag-drt-compensation","tag-fema-compliant-recovery","tag-icici-bank-fraud","tag-lost-order-recovery","tag-supreme-court-justice"],"_links":{"self":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts\/3203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/comments?post=3203"}],"version-history":[{"count":4,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts\/3203\/revisions"}],"predecessor-version":[{"id":3227,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts\/3203\/revisions\/3227"}],"wp:attachment":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/media?parent=3203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/categories?post=3203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/tags?post=3203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}