Comments
This company is a big cheater and not finding and plate form to stope his activity, I had closed my loan before 14 month as per there demand and nothing is balance towards me but they are not ready to return my cheque and every month they presenting my cheque in bank and one cheque also cleared and refund not possible.
Reply
GE CAPITAL FINANCE PVT. LTD — Non issue of RC Book
We had purchased a Commercial Bus from Pune which was hypothicated to the GE CAPITAL FINANCE.The previous Owner Mr. Manjit Sigh Goel was a defaulter in the their records and had many buses Hp. to the same bank with outstanding dues.
We approached the bank with the intention to purchase the bus with Registration No. MH 12 CH 2547 and agreed to pay off the loan outstanding on the said bus. The then Manager also agreed to co-operate and promised to issue the RC Book after having settled the dues. However, the entire discussion was an oral one and post payment the Bank refused to issue the RC Book in our favour. they demanded the dues over the other buses confiscated by them of the same owner.
After having made several attempts the bank does not respond and simply turns a deaf ear to our plea.
they have already resold the confiscated buses and issued their RC's to the respective owners but are not willing to do anuthing for us.
Kindly help us and guide us as to how should we proceed with the said matter and what actions should be taken..
To,
1. The General Manager,
Department of Non-Banking Finance Companies
Reserve Bank of India
Complaints Redressal Cell
Hon’ble Governor
Reserve Bank of India
Dr. D Subbarao Ji Mumbai
4. Hon’ble Deputy Governor
Reserve Bank of India
Smt. S. Gopinath Ji Mumbai
5. Hon’ble Chairman U P A.
Govt of India
Smt.Sonia Gandhi Ji
10-Janpath, New Delhi
6. Hon’ble Minister of Law and Justice
Govt of India
Mr.Veerappa Moily Ji
New Delhi
7. Hon’ble Finance Minister
Govt. of India
Sri Pranab Mukharjee Ji
New Delhi
8. Hon’ble the Prime minister of India
Govt of India
Sri Manmohan Singh Ji
9. Hon’ble Home Minister.
Govt of India.
Sri P. Chidambaram Ji
Ministry of home affairs, New Delhi.
10. Hon’ble President of India
Her highness Smt. Pratibha Devisingh Patil Ji
Rashtrapati Bhawan, Delhi. INDIA.
11. Hon’ble Vice President of India
Shri M. Hamid Ansari Ji
New Delhi
12. Hon'ble Lt Governor of Delhi
Sri Tejendra Khanna Ji
New Delhi
Subject : - Complaint with regard to non payment of remuneration of Debt Recovery Agent against GE Capital Transportation Financial Services Limited (a non-banking finance company registered with DNBS of Reserve Bank of India ).
With due regard, complainant state as follows.
1. That the complainant is proprietor of m/s Pioneer Agency (hereinafter referred as firm) working as a agent of Debt Recovery Agent under guide line of reserve bank of India with various registered Non Banking Finance Companies.
2. That the complainant has obtained a certificate of qualified Debt Recovery Agent from Indian Institute of Banking and Finance and as per terms of Reserve Bank of India has got no criminal back ground during the course of discharging assigned job of recovery by various principal.
3. That the complainant’s firm is well equipped with necessary expertise and skilled manpower and infrastructure in repossessing and collecting the vehicle from defaulting debtor in repayment of loan in accordance with guide line laid down by Reserve Bank of India, Vide Notification RBI/[protected]/296 DBOD.No.Leg.BC.75/09.07.055/2007-08.
4. That having undergone 100 hours training program conducted by Indian Institute of banking and Finance, the Complainant firm was given a certificate being shown a qualified Debt Recovery Agent after examination held on 21 Feb, 2010.
5. That an agreement dated 12.09.2008 was executed between aforesaid Complainant Firm and GE Capital Transportation Financial Services Limited ( hereinafter referred as GECTFS) with regard to repossession of vehicle from defaulting customers in accordance with norms set out by RBI.
6. That the Firm rendered its services in consonance with terms agreed between the parties concerned without committing any default during tenure stated in agreement followed by renewed agreement dated 17.06.2009 for further period of tenure.
7. That the Firm continuously kept on rendering its services in terms guide line of RBI as well as Indian Institute of Banking and Finance by 14.01.2010 with excellent performance which was appreciated by GECTFS.
8. That in the mean time on 14th January, 2010 due to some dispute between the parties the Firm quit the job assigned by submitting written letter dated 13.01.2010 which was simultaneously acknowledged by the GECTFS by termination letter dated, 13.01.2010.
9. That at the moment of aforesaid termination, the firm was to be paid remuneration amount Rs 8, 47, 719/- and the Bills thereof had already been put by the complainant firm before GECTFS.
10. That despite several repeated written as well as oral request, with regard to above noted claim of work done GECTFS did not make payment of said remuneration of pending Bills till date.
11. That the Complainant Firm is now recognized and qualified Debt Recovery Agent. The certificate in this regard has been issued by Indian Institute of Banking and Finance after examination held on 21.02.2010, moreoever the Firm is still working as recognized Debt Recovery Agent with several other well reputed and recognized Non Banking Finance Company of the same field.
12. That as per concept in context of Debt Recovery Agent, the Reserve Bank of India as well as Indian Institute of Banking and Finance have not only laid down the guide line by issuing various notification, to regulate the Non Banking Finance Companies and its Debt Recovery Agents, but also set out the norms with regard to mode of remuneration to be paid to the Debt Recovery Agent.
13. That the Debt is assets whereas the remuneration is liabilities of Non Banking Finance company because it is incurred in order to collect the loan amount. As such it is part of the balance sheet of the GECTFS which is submitted with Reserve Bank of India, moreover, in addition to it, the credit rating agencies also acknowledge the same after due audit. The department of Non Banking Finance Companies has been set up in order to regulate the companies such as GECTFS. It is not out of place to point out such a non payment of remuneration of Debt Recovery Agent like complainant amount to violation of rules with regard to Non Banking Finance Companies by RBI.
14. That employment of the Debt Recovery Agent under the guide line of RBI was felt necessary and necessary training program was imparted by Indian Institute of Banking and Finance, therefore Debt Recovery Agent is most important functionary without which smooth working of debt recovery can not be carry on in the opinion of the RBI. Though the remuneration is a contractual liability to be paid by GECTFS, but if the remuneration is not paid by GECTFS it is also against the rules made by RBI in this regard, as such it attracts the rule of RBI as well as Indian Institute of Banking and Finance seeking interference.
15. That keeping a view on above stated fact and circumstances, it is expedient in the interest of Justice, GECTFS be directed to clear pending Bills of remuneration of work done due to it otherwise the complainant Firm will suffer irreparable loss and injury.
16. That the complainant’s Firm is facing financial crunch due to non payment of remuneration by GECTFS which may be result of collapse of complainant entity leading to cause of non employment of working 500 youth. The complainant is a sole bread earner of his family consists of five school going children and wife and old age Parent, therefore responsibility of which will go to the account of entire regulatory system.
PRAYER
It is therefore, most respectfully prayed that GE Capital Transportation Financial Services Limited (a Non Banking Finance Company ) may be directed to make the payment of remuneration amounting Rs 8, 47, 719/- with regard to pending Bills till 14.01.2010 other wise the complainant will suffer irreparable loss and injury .
Date 28/Oct/10
Place Mumbai
Complainant
Asif N Siddiqui.
Proprietor of M/s Pioneer Agency A-227, Shanti Shopping Centre,
Opp: ING Vysya Bank,
Shanti Nagar Mira Road (East)
District Thane-401107
Maharashtra, INDIA
1. The General Manager,
Department of Non-Banking Finance Companies
Reserve Bank of India
Complaints Redressal Cell
Hon’ble Governor
Reserve Bank of India
Dr. D Subbarao Ji Mumbai
4. Hon’ble Deputy Governor
Reserve Bank of India
Smt. S. Gopinath Ji Mumbai
5. Hon’ble Chairman U P A.
Govt of India
Smt.Sonia Gandhi Ji
10-Janpath, New Delhi
6. Hon’ble Minister of Law and Justice
Govt of India
Mr.Veerappa Moily Ji
New Delhi
7. Hon’ble Finance Minister
Govt. of India
Sri Pranab Mukharjee Ji
New Delhi
8. Hon’ble the Prime minister of India
Govt of India
Sri Manmohan Singh Ji
9. Hon’ble Home Minister.
Govt of India.
Sri P. Chidambaram Ji
Ministry of home affairs, New Delhi.
10. Hon’ble President of India
Her highness Smt. Pratibha Devisingh Patil Ji
Rashtrapati Bhawan, Delhi. INDIA.
11. Hon’ble Vice President of India
Shri M. Hamid Ansari Ji
New Delhi
12. Hon'ble Lt Governor of Delhi
Sri Tejendra Khanna Ji
New Delhi
Subject : - Complaint with regard to non payment of remuneration of Debt Recovery Agent against GE Capital Transportation Financial Services Limited (a non-banking finance company registered with DNBS of Reserve Bank of India ).
With due regard, complainant state as follows.
1. That the complainant is proprietor of m/s Pioneer Agency (hereinafter referred as firm) working as a agent of Debt Recovery Agent under guide line of reserve bank of India with various registered Non Banking Finance Companies.
2. That the complainant has obtained a certificate of qualified Debt Recovery Agent from Indian Institute of Banking and Finance and as per terms of Reserve Bank of India has got no criminal back ground during the course of discharging assigned job of recovery by various principal.
3. That the complainant’s firm is well equipped with necessary expertise and skilled manpower and infrastructure in repossessing and collecting the vehicle from defaulting debtor in repayment of loan in accordance with guide line laid down by Reserve Bank of India, Vide Notification RBI/[protected]/296 DBOD.No.Leg.BC.75/09.07.055/2007-08.
4. That having undergone 100 hours training program conducted by Indian Institute of banking and Finance, the Complainant firm was given a certificate being shown a qualified Debt Recovery Agent after examination held on 21 Feb, 2010.
5. That an agreement dated 12.09.2008 was executed between aforesaid Complainant Firm and GE Capital Transportation Financial Services Limited ( hereinafter referred as GECTFS) with regard to repossession of vehicle from defaulting customers in accordance with norms set out by RBI.
6. That the Firm rendered its services in consonance with terms agreed between the parties concerned without committing any default during tenure stated in agreement followed by renewed agreement dated 17.06.2009 for further period of tenure.
7. That the Firm continuously kept on rendering its services in terms guide line of RBI as well as Indian Institute of Banking and Finance by 14.01.2010 with excellent performance which was appreciated by GECTFS.
8. That in the mean time on 14th January, 2010 due to some dispute between the parties the Firm quit the job assigned by submitting written letter dated 13.01.2010 which was simultaneously acknowledged by the GECTFS by termination letter dated, 13.01.2010.
9. That at the moment of aforesaid termination, the firm was to be paid remuneration amount Rs 8, 47, 719/- and the Bills thereof had already been put by the complainant firm before GECTFS.
10. That despite several repeated written as well as oral request, with regard to above noted claim of work done GECTFS did not make payment of said remuneration of pending Bills till date.
11. That the Complainant Firm is now recognized and qualified Debt Recovery Agent. The certificate in this regard has been issued by Indian Institute of Banking and Finance after examination held on 21.02.2010, moreoever the Firm is still working as recognized Debt Recovery Agent with several other well reputed and recognized Non Banking Finance Company of the same field.
12. That as per concept in context of Debt Recovery Agent, the Reserve Bank of India as well as Indian Institute of Banking and Finance have not only laid down the guide line by issuing various notification, to regulate the Non Banking Finance Companies and its Debt Recovery Agents, but also set out the norms with regard to mode of remuneration to be paid to the Debt Recovery Agent.
13. That the Debt is assets whereas the remuneration is liabilities of Non Banking Finance company because it is incurred in order to collect the loan amount. As such it is part of the balance sheet of the GECTFS which is submitted with Reserve Bank of India, moreover, in addition to it, the credit rating agencies also acknowledge the same after due audit. The department of Non Banking Finance Companies has been set up in order to regulate the companies such as GECTFS. It is not out of place to point out such a non payment of remuneration of Debt Recovery Agent like complainant amount to violation of rules with regard to Non Banking Finance Companies by RBI.
14. That employment of the Debt Recovery Agent under the guide line of RBI was felt necessary and necessary training program was imparted by Indian Institute of Banking and Finance, therefore Debt Recovery Agent is most important functionary without which smooth working of debt recovery can not be carry on in the opinion of the RBI. Though the remuneration is a contractual liability to be paid by GECTFS, but if the remuneration is not paid by GECTFS it is also against the rules made by RBI in this regard, as such it attracts the rule of RBI as well as Indian Institute of Banking and Finance seeking interference.
15. That keeping a view on above stated fact and circumstances, it is expedient in the interest of Justice, GECTFS be directed to clear pending Bills of remuneration of work done due to it otherwise the complainant Firm will suffer irreparable loss and injury.
16. That the complainant’s Firm is facing financial crunch due to non payment of remuneration by GECTFS which may be result of collapse of complainant entity leading to cause of non employment of working 500 youth. The complainant is a sole bread earner of his family consists of five school going children and wife and old age Parent, therefore responsibility of which will go to the account of entire regulatory system.
PRAYER
It is therefore, most respectfully prayed that GE Capital Transportation Financial Services Limited (a Non Banking Finance Company ) may be directed to make the payment of remuneration amounting Rs 8, 47, 719/- with regard to pending Bills till 14.01.2010 other wise the complainant will suffer irreparable loss and injury .
Date 28/Oct/10
Place Mumbai
Complainant
Asif N Siddiqui.
Proprietor of M/s Pioneer Agency A-227, Shanti Shopping Centre,
Opp: ING Vysya Bank,
Shanti Nagar Mira Road (East)
District Thane-401107
Maharashtra, INDIA
From: ishikha
To: "kinshuk.[protected]@ge.com"; "santosh.[protected]@ge.com"; "Avinash.[protected]@geind.ge.com"; "suresh.[protected]@ge.com"; "tarun.[protected]@ge.com";
"naoki.[protected]@ge.com"; "vikram.[protected]@ge.com"; "kanwar.[protected]@ge.com"; "kps.[protected]@ge.com"; "susheel.[protected]@ge.com"; "nalin.[protected]@ge.com";
"anish.[protected]@ge.com"; "sameer.[protected]@ge.com"
Cc: [protected]@pioneerrecoveryagency.com
Bcc: [protected]@yahoo.com; "gectfs.[protected]@ge.com"; "devinder.[protected]@ge.com"
Subject: Final notice of arbitration
Date: Monday, May 24, 2010 3:42:00 PM
Attachments: FINAL Notice of Arbitration.
Respected Sir,
Please find the Notice of Arbitration
From- Asif . N. Siddiqui,
Proprietor of M/s Pioneer Agency.
Office-303. Buld, B Wing,
Gulistan C.H.S. ltd
Pooja Nagar, Meera Road, Thane-401107.
To,
1. The Chairman / Managing Director
Mr. Anish Shah,
GE Capital Transportation Financial Services Ltd
Regd. Office AIFACS Building
1, Rafi Marg NEW Delhi-110001.
2. Susheel Verma
Head
6th Floor DLF Block 7-A DLF Cyber City
DLF Phase III Gurgaon.
3.The President,
Sri Santosh Aiyer
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Block 4A, DLF Corporate Park,
Qutub Enclave Phase III
Mehrauli Gurgaon-122022
4. The Vice President,
Sri Kinshuk Agrawal,
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Block 4A, DLF Corporate Park,
Qutub Enclave Phase III
Mehrauli Gurgaon-122022
5. The Vice President,
Sri Avinash Chandra
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Block 4A, DLF Corporate Park,
Qutub Enclave Phase III
Mehrauli Gurgaon-122022
6. Mr. Suresh Krishnan
Group Chief Financial Officer
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
7. Mr. Tarun Mehndiratta
Business Head
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
8. Mr. Naoki Sakai
Head of Risk
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
9. Mr. Vikram Narayan
Head of Business
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
10. The Authorized Signatory,
GE Capital Service India
Of M/s GE Capital Transportation Financial Services Ltd
Building no 7A, 6th Floor, DLF Cyber City
DLF Phase III
Gurgaon-122002.
11. Sameer Nanda
Recovery Head
Delhi N.C.R
12. Nalin Negi
V.P.Finance Controller
Delhi
13. Devinder Jain
Company Secretary & Compliance Officer
Delhi.
Subject:- Demand of payment with regard to remuneration of pending bills of work done (06.Dec.08 to 14.01.10)
arises out in terms of original agreement dated 12.07.2008 followed by renewed one dated 17.06.09.
Dear Sir,
I, Mr Asif N. Siddiqui, the proprietor of the firm M/s Pioneer give you following notice.
1. That my firm is known to you as equipped with necessary, expertise and skilled manpower and infrastructure in
repossessing and collecting the vehicles from such defaulting customers in payment of loan given in the manner
which are subject to the terms of agreement entered in to.
2. That an agreement dated 12.09.2008 was entered between your aforesaid company GE Capital TFS in short through
its authorized signatory Sri Kinshuk Agrawal and my proprietorship Firm in the name and style Pioneer Agency
through me, whereby Pioneer agency was assigned to provide the services with respect to repossession of assets, on
non enclusive basis and in its capacity as an independent contractor, in the territory for performing the function,
services as mentioned in Annexure appended to original Agreement dated 12.09.2008
3. That subject to terms agreed upon, Pioneer agency carried out assigned contractual work to the great extent of the
satisfaction of Vice President Sri Kinshuk Agrawal who wrote an appreciation letter in this regard kindly have EMail
sent dated 07.08.2009 as follow-
From: Agarwal, Kinshuk (GE Comm Fin) [mailto:kinshuk.[protected]@ge.com]
Sent: Thursday, August 27, 2009 7:45 PM
To: Ishikha das; Shankar, S (GE Comm Fin); Kumar, Sandeep (GE Comm Fin); Iyer, Ganesh KV (GE Comm Fin)
Cc: [protected]@pioneerrecoveryagency.com
Subject: RE: INFORMATION FOR THE SEIZED MACHINE.
Excellent piece of work Asif and team...I am extremely glad on the rising performance curve and commitment of your
co. to GE.
Thanks.
Regards...Kinshuk
4. That after the tenure of 12 months, in terms of original agreement, extension for further twelve months came in to
the effect by renewal dated 17.06.09.
5. That in terms of renewed, Pioneer agency resumed to provide the same assigned contractual work with excellent
performance and without committing Any breach of agreed terms.
6. That the Annexure B appended to original agreement dated 12.09.2008 was meant to prescribe the manner as to the
payment of remuneration. The verbatim of the same is edited as follow-
Annexure B
Fee Schedule
1. Fee Structure
1>Within Mumbai City Limit Rs 10000/-
2>Out Side Mubai City Limit Rs 13000/-
3>Construction Equipment Rs.16000/-(For Tyre Mounted Equipment)
Rs 25000/- (Chain Mounted Equipment)
2. On repossessing a vehicle of a customers who is in 365+ bucket of delinquency the remuneration to be paid
to the contractor for the repossession will be three (3) times the remuneration as mentioned in (1)
3. The below remuneration is applicable only in those cases of vehicle repossession where the original
registration certificate book & Road Tax payment certificate s made available by the contractor after repossession.
These documents have to be handed over to GECTFS along with the repossession documents under
acknowledgement. The contractor will claim this remuneration along with his repossession invoice attaching the
copy of acknowledged RC book by GECTFS.
For light commercial vehicle :Rs 2500/-
Medium & Heavy Commercial Vehicle Rs 5000/-construction Equipment Rs 5000/-
The above remuneration can be reviewed/withdrawal by GECTFS, with a prior notice of 30 days to the contractor.
7. That the clause 11.1 of the original agreement dated 12.09.2008 was set out meant to settle all disputes, differences
and question of any nature between the parties. Kindly have as it is embodied in original agreement as clause no
11.1 as follows-
Arbitration
11.1
Unless otherwise prohibited by any applicable law in force, all disputes, differences and questions of any nature
which at any time arise between the parties to the agreement or their respective representative and assigns or any
of them out of the construction of or concerning anything contained in or arising out of the agreement or as to
rights, duties or liabilities under it of the parties to it respectively or their respective representatives shall be
referred to and finally settled by arbitration under the Indian conciliation and Arbitration Act. 1996. the parties
consent to the single, consolidated arbitration for all disputes that may at the time exist. The arbitration tribunal
shall be composed of one arbitrator to be appointed by GECTFS. The arbitration proceeding shall be held at New
Delhi, India.
8. That after the period of six months from renewal of original agreement dated 17.06.2009, a person of your
organization as an individual started causing untoward situation compelling the Pioneer Agency to opt nothing but
to quit carry on the work assigned.
9. That having aggrieved from aforesaid compelling circumstance, I as proprietor, of Pioneer Agency had to seek
termination from contractual assigned work by writing an E-Mail dated 13.01.2010 at 12.25 P.M and in response
to which E-Mail of termination dated 13.01.2010 at 1.47 P.M was received from GE capital service India sent by
its authorized signatory.
10. That Pioneer agency rendered its assigned contractual services without committing irregularities and fail till dated
14.01.2010 and during tenure and period whatever lasted onward no any breach of terms embodied in original
agreement was noticed by your aforesaid company GECTFS. In addition to that Pioneer agency within stipulated
period of time mentioned in agreement, presented all invoices accompanying necessary formalities with regard to
REPO as referred in Annexure no A appended to the original agreement.
11. That the moment contract aborted due to sudden termination, simultaneously, the Pioneer agency had claim of
pending bills of remuneration, amounting Rs. 8, 47, 719 /- due to your company GECTFS which is yet to be
cleared. For your kind consideration details of account came down from bankers is being shown herewith –
REF No. Hirer Name Agr. No Veh. No. Repo Dt. Rc
Status
Repo Amt
PIO/08-09/172 AJIT MAJOTI TWRJKRCVZ00303198 GJ10X9345 06-Dec-08 NO 14, 606.80
PIO/09-10/95 JUNEDAHMED KHAN TWBBYRCVZ00339586 MH04DK9914 26-Mar-09 NO 20, 405.50
PIO/09-10/130
PATRON CONSTRUCTION
PVT. LTD. TECALSCEZ00331543 NL02G3448 22-Apr-09 NO 44, 120.00
PIO/09-10/132 TANUSHREE MONDAL TECALRCVZ00319166 WB23B3758 22-Apr-09 NO 14, 339.00
PIO/09-10/179 SAURABH BHUTANI TWNAGSCEZ00323582 MH[protected]May-09 NO 14, 339.00
PIO/09-10/243
NAVNATH DADASAHEB
KHEDEKAR TWPUNRCVZ00311725 MH12EF2149 24-Jul-09 YES 14, 339.00
PIO/09-10/249 R VALARKODI TSSALRCVZ00315506 KA01C7268 29-Jul-09 YES 19, 339.00
PIO/09-10/252
SANTOSH KALURAM
YADAV TWPUNRCVZ00325520 MH14BJ40 30-Jul-09 NO 14, 339.00
PIO/09-10/256 V POUNRAJ TSSALRCVZ00227119 KA01B5391 03-Aug-09 NO 19, 854.00
PIO/09-10/303
SATYANARAYANAN
NAIR TWBBYRCVZ00323541 MH06AC9538 31-Aug-09 NO 23, 163.00
PIO/09-10/333
SAI CARGO LOGISTICS
PVT LTD TWBBYRCVZ00243218 MH06AC3879 30-Jul-09 NO 14, 339.00
PIO/09-10/382 Raman chauhan TWAHDRCVZ00253937 GJ10X7171 12-Oct-09 NO 14, 339.00
PIO/09-10/388 Khodabhai M Sambhad TWAHDRCVZ00334776 GJ13V6064 14-Oct-09 NO 14, 339.00
PIO/09-10/410
TUKARAM KRISHNARAO
BHOSALE TWPUNRCVZ00343643 MH11AL745 25-Oct-09 NO 14, 339.00
PIO/09-10/412
JIVA NATHA ULVA
ALIAS RABARI TWRJKRCVZ00333357 GJ10X7569 29-Oct-09 YES 19, 854.00
PIO/09-10/426 AFSARALI KHAN TWBBYRCVZ00318378 MH06AC9786 03-Nov-09 YES 57, 907.50
PIO/09-10/437 ANIL KISAN PISE TWPUNRCVZ00308155 MH12EF96 14-Nov-09 NO 14, 339.00
LAKSHMI & LAKSHMI
PIO/09-10/444 LOGISTICS TSVJYRCVZ00297347 AP16TW8679 19-Nov-09 YES 19, 854.00
PIO/09-10/452 Jignesh C Sarang TWSURRCVZ00324829 GJ5YY9086 24-Nov-09 NO 19, 302.50
PIO/09-10/461
HEMANT ARVINDBHAI
AMIN TWAHDRCVZ00319310 GJ1BT8761 05-Dec-09 YES 19, 854.00
PIO/10-11/003
Devjibhai Gobarbhai
Taviya TWRJKSCEZ00259548 UNREGISTERED 26-Dec-10 NO 23, 648.00
PIO/09-10/15 KASHINATH BORSE TWBBYRCVZ00334101 MH04DK6098 30-Jan-09 NO 14, 606.80
PIO/09-10/66 YASHPAL RANGRASS TWBBYRCVZ00211868 MH04CG2286 18-Mar-09 NO 14, 339.00
PIO/09-10/188 MAYUR SHROFF TWBBYRCVZ00292907 MH04CU7696 22-Dec-08 NO 14, 339.00
PIO/09-10/189 RAJIT RAM YADAV TWBBYRCVZ00319745 MH04DD9790 22-Dec-08 NO 14, 339.00
PIO/09-10/239 HARSHAD BAROT TWBBYRCVZ00324547 MH04DK6300 21-Jul-09 NO 14, 339.00
PIO/09-10/259 MANOJ MISHRA TWBBYRCVZ00343105 MH04DS7707 03-Aug-09 NO 14, 339.00
PIO/09-10/262 RAVI SINGH TWBBYRCVZ00328943 MH04DK3772 08-Aug-09 NO 14, 339.00
PIO/09-10/273 PRASHANT PAL TWBBYRCVZ00316261 MH04DK38 16-Aug-09 YES 19, 339.00
PIO/09-10/276 KAILASH SALUNKHE TWBBYRCVZ00249425 MH04CU1925 13-Aug-09 NO 14, 339.00
PIO/09-10/278 VINOD TIWARI TWBBYRCVZ00330552 MH04DK4883 18-Aug-09 NO 14, 339.00
PIO/09-10/288 PRASHANT PAL TWBBYRCVZ00304773 MH04DD1881 25-Aug-09 YES 19, 339.00
PIO/09-10/374 KAZI MOHD YUNUS ALI TWBBYRCVZ00330008 MH04DK4502 04-Oct-09 NO 14, 339.00
PIO/09-10/378 Mohd Shamim Khan TWBBYRCVZ00340256 MH04DK9712 07-Oct-09 YES 19, 339.00
PIO/09-10/394 SHOBHA NAYAK TWBBYRCVZ00316850 MH04DD9272 22-Oct-09 NO 14, 339.00
PIO/09-10/395
SALAMAT ALI CHOTU
SHAIKH TWBBYRCVZ00215336 MH04CG5187 21-Oct-09 NO 14, 339.00
PIO/09-10/414 MEHFOOZ ALAM TNGURRCVZ00254087 RJ10GA0978 30-Oct-09 NO 43, 017.00
PIO/09-10/420 RAGHUBAR GUPTA TWBBYRCVZ00328785 MH04DK4213 27-Jun-09 NO 14, 339.00
PIO/09-10/421 RAGHUBAR GUPTA TWBBYRCVZ00328784 MH04DK4113 27-Jun-09 NO 14, 339.00
PIO/09-10/422
MOHAMMAD HANIF
PATEL TWBBYRCVZ00293967 MH06AC6176 29-Jun-09 NO 14, 339.00
PIO/09-10/423 BAJIRAO SURYAVANSHI TWBBYRCVZ00326948 MH06AC9837 20-May-09 NO 14, 339.00
PIO/09-10/424 VASANT SAWANT TWBBYRCVZ00346515 MH06AQ3832 28-Jun-09 NO 14, 339.00
PIO/09-10/429 PRADEEP SANE TWBBYRCVZ00320397 MH04DK6835 09-Nov-09 NO 14, 339.00
PIO/09-10/427 NAMDEO PATIL TWBBYRCVZ00261014 MH06AG1363 05-Jan-09 NO 14, 339.00
PIO/09-10/433 SAHAJI DABADE TWBBYRCVZ00233673 MH04CP3272 12-Nov-09 NO 14, 339.00
PIO/09-10/436 HITESH ENTERPRISES TWBBYRCVZ00344766 MH04DS1090 13-Nov-09 NO 14, 339.00
PIO/09-10/483 VAZIRE KHAN TWBBYRCVZ00323069 MH04DK4916 29-Dec-09 NO 14, 339.00
847, 719.10
PLEASE UPDATE THE PAYMENTS WHICH HAS COME DOWN FROM THE BANK
12. That despite several repeated request with regard to above noted payment of remuneration have been made by me
on behalf of Pioneer agency to each and every concerned authorities but no attention so far as has been paid
consequently this is a notice for your kind heed.
13. That it is therefore for your kind notice to make the payment of pending bills of remuneration of REPO work done
(06.12.2008 to 14.01.2010), amounting Rs. 8, 47, 719/-due to your company GECTFS within period of 15 days. In
case any difference, dispute with regard to above noted claimed remuneration of work done arises from on the your
part, kindly appoint an arbitrator to arrive at amicable settlement by taking reference of clause 11.1 of original
agreement dated 12.09.2008 followed by renewed one dated 17.06.2009.
14. It is further be informed for your kind convenience that your concern may make any further correspondence in this
regard with my counsel Sri Vijay Singh Gour, Ch. No 91A, New Building, High Court Allahabad, U.P.
Dated…24-May-2010
Place…Mumbai
your’s sincerely
Asif . N. Siddiqui,
Proprietor of M/s Pioneer Agency.
Office:- A-227, Shanti Shopping Centre.
Opp ING VYSYA Bank,
Near Mira Road Stn,
Mira Rd – East. Thane-401107
To: "kinshuk.[protected]@ge.com"; "santosh.[protected]@ge.com"; "Avinash.[protected]@geind.ge.com"; "suresh.[protected]@ge.com"; "tarun.[protected]@ge.com";
"naoki.[protected]@ge.com"; "vikram.[protected]@ge.com"; "kanwar.[protected]@ge.com"; "kps.[protected]@ge.com"; "susheel.[protected]@ge.com"; "nalin.[protected]@ge.com";
"anish.[protected]@ge.com"; "sameer.[protected]@ge.com"
Cc: [protected]@pioneerrecoveryagency.com
Bcc: [protected]@yahoo.com; "gectfs.[protected]@ge.com"; "devinder.[protected]@ge.com"
Subject: Final notice of arbitration
Date: Monday, May 24, 2010 3:42:00 PM
Attachments: FINAL Notice of Arbitration.
Respected Sir,
Please find the Notice of Arbitration
From- Asif . N. Siddiqui,
Proprietor of M/s Pioneer Agency.
Office-303. Buld, B Wing,
Gulistan C.H.S. ltd
Pooja Nagar, Meera Road, Thane-401107.
To,
1. The Chairman / Managing Director
Mr. Anish Shah,
GE Capital Transportation Financial Services Ltd
Regd. Office AIFACS Building
1, Rafi Marg NEW Delhi-110001.
2. Susheel Verma
Head
6th Floor DLF Block 7-A DLF Cyber City
DLF Phase III Gurgaon.
3.The President,
Sri Santosh Aiyer
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Block 4A, DLF Corporate Park,
Qutub Enclave Phase III
Mehrauli Gurgaon-122022
4. The Vice President,
Sri Kinshuk Agrawal,
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Block 4A, DLF Corporate Park,
Qutub Enclave Phase III
Mehrauli Gurgaon-122022
5. The Vice President,
Sri Avinash Chandra
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Block 4A, DLF Corporate Park,
Qutub Enclave Phase III
Mehrauli Gurgaon-122022
6. Mr. Suresh Krishnan
Group Chief Financial Officer
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
7. Mr. Tarun Mehndiratta
Business Head
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
8. Mr. Naoki Sakai
Head of Risk
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
9. Mr. Vikram Narayan
Head of Business
GE Commercial Services
Of M/s GE Capital Transportation Financial Services Ltd
Alfacs Building, 1 Rafi Marg
New Delhi, 110014, India
10. The Authorized Signatory,
GE Capital Service India
Of M/s GE Capital Transportation Financial Services Ltd
Building no 7A, 6th Floor, DLF Cyber City
DLF Phase III
Gurgaon-122002.
11. Sameer Nanda
Recovery Head
Delhi N.C.R
12. Nalin Negi
V.P.Finance Controller
Delhi
13. Devinder Jain
Company Secretary & Compliance Officer
Delhi.
Subject:- Demand of payment with regard to remuneration of pending bills of work done (06.Dec.08 to 14.01.10)
arises out in terms of original agreement dated 12.07.2008 followed by renewed one dated 17.06.09.
Dear Sir,
I, Mr Asif N. Siddiqui, the proprietor of the firm M/s Pioneer give you following notice.
1. That my firm is known to you as equipped with necessary, expertise and skilled manpower and infrastructure in
repossessing and collecting the vehicles from such defaulting customers in payment of loan given in the manner
which are subject to the terms of agreement entered in to.
2. That an agreement dated 12.09.2008 was entered between your aforesaid company GE Capital TFS in short through
its authorized signatory Sri Kinshuk Agrawal and my proprietorship Firm in the name and style Pioneer Agency
through me, whereby Pioneer agency was assigned to provide the services with respect to repossession of assets, on
non enclusive basis and in its capacity as an independent contractor, in the territory for performing the function,
services as mentioned in Annexure appended to original Agreement dated 12.09.2008
3. That subject to terms agreed upon, Pioneer agency carried out assigned contractual work to the great extent of the
satisfaction of Vice President Sri Kinshuk Agrawal who wrote an appreciation letter in this regard kindly have EMail
sent dated 07.08.2009 as follow-
From: Agarwal, Kinshuk (GE Comm Fin) [mailto:kinshuk.[protected]@ge.com]
Sent: Thursday, August 27, 2009 7:45 PM
To: Ishikha das; Shankar, S (GE Comm Fin); Kumar, Sandeep (GE Comm Fin); Iyer, Ganesh KV (GE Comm Fin)
Cc: [protected]@pioneerrecoveryagency.com
Subject: RE: INFORMATION FOR THE SEIZED MACHINE.
Excellent piece of work Asif and team...I am extremely glad on the rising performance curve and commitment of your
co. to GE.
Thanks.
Regards...Kinshuk
4. That after the tenure of 12 months, in terms of original agreement, extension for further twelve months came in to
the effect by renewal dated 17.06.09.
5. That in terms of renewed, Pioneer agency resumed to provide the same assigned contractual work with excellent
performance and without committing Any breach of agreed terms.
6. That the Annexure B appended to original agreement dated 12.09.2008 was meant to prescribe the manner as to the
payment of remuneration. The verbatim of the same is edited as follow-
Annexure B
Fee Schedule
1. Fee Structure
1>Within Mumbai City Limit Rs 10000/-
2>Out Side Mubai City Limit Rs 13000/-
3>Construction Equipment Rs.16000/-(For Tyre Mounted Equipment)
Rs 25000/- (Chain Mounted Equipment)
2. On repossessing a vehicle of a customers who is in 365+ bucket of delinquency the remuneration to be paid
to the contractor for the repossession will be three (3) times the remuneration as mentioned in (1)
3. The below remuneration is applicable only in those cases of vehicle repossession where the original
registration certificate book & Road Tax payment certificate s made available by the contractor after repossession.
These documents have to be handed over to GECTFS along with the repossession documents under
acknowledgement. The contractor will claim this remuneration along with his repossession invoice attaching the
copy of acknowledged RC book by GECTFS.
For light commercial vehicle :Rs 2500/-
Medium & Heavy Commercial Vehicle Rs 5000/-construction Equipment Rs 5000/-
The above remuneration can be reviewed/withdrawal by GECTFS, with a prior notice of 30 days to the contractor.
7. That the clause 11.1 of the original agreement dated 12.09.2008 was set out meant to settle all disputes, differences
and question of any nature between the parties. Kindly have as it is embodied in original agreement as clause no
11.1 as follows-
Arbitration
11.1
Unless otherwise prohibited by any applicable law in force, all disputes, differences and questions of any nature
which at any time arise between the parties to the agreement or their respective representative and assigns or any
of them out of the construction of or concerning anything contained in or arising out of the agreement or as to
rights, duties or liabilities under it of the parties to it respectively or their respective representatives shall be
referred to and finally settled by arbitration under the Indian conciliation and Arbitration Act. 1996. the parties
consent to the single, consolidated arbitration for all disputes that may at the time exist. The arbitration tribunal
shall be composed of one arbitrator to be appointed by GECTFS. The arbitration proceeding shall be held at New
Delhi, India.
8. That after the period of six months from renewal of original agreement dated 17.06.2009, a person of your
organization as an individual started causing untoward situation compelling the Pioneer Agency to opt nothing but
to quit carry on the work assigned.
9. That having aggrieved from aforesaid compelling circumstance, I as proprietor, of Pioneer Agency had to seek
termination from contractual assigned work by writing an E-Mail dated 13.01.2010 at 12.25 P.M and in response
to which E-Mail of termination dated 13.01.2010 at 1.47 P.M was received from GE capital service India sent by
its authorized signatory.
10. That Pioneer agency rendered its assigned contractual services without committing irregularities and fail till dated
14.01.2010 and during tenure and period whatever lasted onward no any breach of terms embodied in original
agreement was noticed by your aforesaid company GECTFS. In addition to that Pioneer agency within stipulated
period of time mentioned in agreement, presented all invoices accompanying necessary formalities with regard to
REPO as referred in Annexure no A appended to the original agreement.
11. That the moment contract aborted due to sudden termination, simultaneously, the Pioneer agency had claim of
pending bills of remuneration, amounting Rs. 8, 47, 719 /- due to your company GECTFS which is yet to be
cleared. For your kind consideration details of account came down from bankers is being shown herewith –
REF No. Hirer Name Agr. No Veh. No. Repo Dt. Rc
Status
Repo Amt
PIO/08-09/172 AJIT MAJOTI TWRJKRCVZ00303198 GJ10X9345 06-Dec-08 NO 14, 606.80
PIO/09-10/95 JUNEDAHMED KHAN TWBBYRCVZ00339586 MH04DK9914 26-Mar-09 NO 20, 405.50
PIO/09-10/130
PATRON CONSTRUCTION
PVT. LTD. TECALSCEZ00331543 NL02G3448 22-Apr-09 NO 44, 120.00
PIO/09-10/132 TANUSHREE MONDAL TECALRCVZ00319166 WB23B3758 22-Apr-09 NO 14, 339.00
PIO/09-10/179 SAURABH BHUTANI TWNAGSCEZ00323582 MH[protected]May-09 NO 14, 339.00
PIO/09-10/243
NAVNATH DADASAHEB
KHEDEKAR TWPUNRCVZ00311725 MH12EF2149 24-Jul-09 YES 14, 339.00
PIO/09-10/249 R VALARKODI TSSALRCVZ00315506 KA01C7268 29-Jul-09 YES 19, 339.00
PIO/09-10/252
SANTOSH KALURAM
YADAV TWPUNRCVZ00325520 MH14BJ40 30-Jul-09 NO 14, 339.00
PIO/09-10/256 V POUNRAJ TSSALRCVZ00227119 KA01B5391 03-Aug-09 NO 19, 854.00
PIO/09-10/303
SATYANARAYANAN
NAIR TWBBYRCVZ00323541 MH06AC9538 31-Aug-09 NO 23, 163.00
PIO/09-10/333
SAI CARGO LOGISTICS
PVT LTD TWBBYRCVZ00243218 MH06AC3879 30-Jul-09 NO 14, 339.00
PIO/09-10/382 Raman chauhan TWAHDRCVZ00253937 GJ10X7171 12-Oct-09 NO 14, 339.00
PIO/09-10/388 Khodabhai M Sambhad TWAHDRCVZ00334776 GJ13V6064 14-Oct-09 NO 14, 339.00
PIO/09-10/410
TUKARAM KRISHNARAO
BHOSALE TWPUNRCVZ00343643 MH11AL745 25-Oct-09 NO 14, 339.00
PIO/09-10/412
JIVA NATHA ULVA
ALIAS RABARI TWRJKRCVZ00333357 GJ10X7569 29-Oct-09 YES 19, 854.00
PIO/09-10/426 AFSARALI KHAN TWBBYRCVZ00318378 MH06AC9786 03-Nov-09 YES 57, 907.50
PIO/09-10/437 ANIL KISAN PISE TWPUNRCVZ00308155 MH12EF96 14-Nov-09 NO 14, 339.00
LAKSHMI & LAKSHMI
PIO/09-10/444 LOGISTICS TSVJYRCVZ00297347 AP16TW8679 19-Nov-09 YES 19, 854.00
PIO/09-10/452 Jignesh C Sarang TWSURRCVZ00324829 GJ5YY9086 24-Nov-09 NO 19, 302.50
PIO/09-10/461
HEMANT ARVINDBHAI
AMIN TWAHDRCVZ00319310 GJ1BT8761 05-Dec-09 YES 19, 854.00
PIO/10-11/003
Devjibhai Gobarbhai
Taviya TWRJKSCEZ00259548 UNREGISTERED 26-Dec-10 NO 23, 648.00
PIO/09-10/15 KASHINATH BORSE TWBBYRCVZ00334101 MH04DK6098 30-Jan-09 NO 14, 606.80
PIO/09-10/66 YASHPAL RANGRASS TWBBYRCVZ00211868 MH04CG2286 18-Mar-09 NO 14, 339.00
PIO/09-10/188 MAYUR SHROFF TWBBYRCVZ00292907 MH04CU7696 22-Dec-08 NO 14, 339.00
PIO/09-10/189 RAJIT RAM YADAV TWBBYRCVZ00319745 MH04DD9790 22-Dec-08 NO 14, 339.00
PIO/09-10/239 HARSHAD BAROT TWBBYRCVZ00324547 MH04DK6300 21-Jul-09 NO 14, 339.00
PIO/09-10/259 MANOJ MISHRA TWBBYRCVZ00343105 MH04DS7707 03-Aug-09 NO 14, 339.00
PIO/09-10/262 RAVI SINGH TWBBYRCVZ00328943 MH04DK3772 08-Aug-09 NO 14, 339.00
PIO/09-10/273 PRASHANT PAL TWBBYRCVZ00316261 MH04DK38 16-Aug-09 YES 19, 339.00
PIO/09-10/276 KAILASH SALUNKHE TWBBYRCVZ00249425 MH04CU1925 13-Aug-09 NO 14, 339.00
PIO/09-10/278 VINOD TIWARI TWBBYRCVZ00330552 MH04DK4883 18-Aug-09 NO 14, 339.00
PIO/09-10/288 PRASHANT PAL TWBBYRCVZ00304773 MH04DD1881 25-Aug-09 YES 19, 339.00
PIO/09-10/374 KAZI MOHD YUNUS ALI TWBBYRCVZ00330008 MH04DK4502 04-Oct-09 NO 14, 339.00
PIO/09-10/378 Mohd Shamim Khan TWBBYRCVZ00340256 MH04DK9712 07-Oct-09 YES 19, 339.00
PIO/09-10/394 SHOBHA NAYAK TWBBYRCVZ00316850 MH04DD9272 22-Oct-09 NO 14, 339.00
PIO/09-10/395
SALAMAT ALI CHOTU
SHAIKH TWBBYRCVZ00215336 MH04CG5187 21-Oct-09 NO 14, 339.00
PIO/09-10/414 MEHFOOZ ALAM TNGURRCVZ00254087 RJ10GA0978 30-Oct-09 NO 43, 017.00
PIO/09-10/420 RAGHUBAR GUPTA TWBBYRCVZ00328785 MH04DK4213 27-Jun-09 NO 14, 339.00
PIO/09-10/421 RAGHUBAR GUPTA TWBBYRCVZ00328784 MH04DK4113 27-Jun-09 NO 14, 339.00
PIO/09-10/422
MOHAMMAD HANIF
PATEL TWBBYRCVZ00293967 MH06AC6176 29-Jun-09 NO 14, 339.00
PIO/09-10/423 BAJIRAO SURYAVANSHI TWBBYRCVZ00326948 MH06AC9837 20-May-09 NO 14, 339.00
PIO/09-10/424 VASANT SAWANT TWBBYRCVZ00346515 MH06AQ3832 28-Jun-09 NO 14, 339.00
PIO/09-10/429 PRADEEP SANE TWBBYRCVZ00320397 MH04DK6835 09-Nov-09 NO 14, 339.00
PIO/09-10/427 NAMDEO PATIL TWBBYRCVZ00261014 MH06AG1363 05-Jan-09 NO 14, 339.00
PIO/09-10/433 SAHAJI DABADE TWBBYRCVZ00233673 MH04CP3272 12-Nov-09 NO 14, 339.00
PIO/09-10/436 HITESH ENTERPRISES TWBBYRCVZ00344766 MH04DS1090 13-Nov-09 NO 14, 339.00
PIO/09-10/483 VAZIRE KHAN TWBBYRCVZ00323069 MH04DK4916 29-Dec-09 NO 14, 339.00
847, 719.10
PLEASE UPDATE THE PAYMENTS WHICH HAS COME DOWN FROM THE BANK
12. That despite several repeated request with regard to above noted payment of remuneration have been made by me
on behalf of Pioneer agency to each and every concerned authorities but no attention so far as has been paid
consequently this is a notice for your kind heed.
13. That it is therefore for your kind notice to make the payment of pending bills of remuneration of REPO work done
(06.12.2008 to 14.01.2010), amounting Rs. 8, 47, 719/-due to your company GECTFS within period of 15 days. In
case any difference, dispute with regard to above noted claimed remuneration of work done arises from on the your
part, kindly appoint an arbitrator to arrive at amicable settlement by taking reference of clause 11.1 of original
agreement dated 12.09.2008 followed by renewed one dated 17.06.2009.
14. It is further be informed for your kind convenience that your concern may make any further correspondence in this
regard with my counsel Sri Vijay Singh Gour, Ch. No 91A, New Building, High Court Allahabad, U.P.
Dated…24-May-2010
Place…Mumbai
your’s sincerely
Asif . N. Siddiqui,
Proprietor of M/s Pioneer Agency.
Office:- A-227, Shanti Shopping Centre.
Opp ING VYSYA Bank,
Near Mira Road Stn,
Mira Rd – East. Thane-401107
THIS IS MY HUMBLE REQUEST THAT GE CAPITAL TFS LTD HAS NOT CLEARED MY PAYMENT, IF THEY DONT CLEAR MY PAYMENT I WILL TAKE A ACTION TO MOVE TO HIGH COURT NEW DELHI.
THANK'S REGARD.
ASIF N SIDDIQUI.
+91-[protected]
THANK'S REGARD.
ASIF N SIDDIQUI.
+91-[protected]
THE COMPLAINT I HAD LODGE AGAINST GE CAPITAL TFS LTD, I WANT TO KNOW WHAT PROCEDURE HAS BEEN TAKEN.
Contact Information
G.e Capital T.f.s Limited
India
File a Complaint
