Press meet held at press club of Bangalore.
Dr. S Syamala Reddy, Chairperson,SGR Group of Institutions, said I Dr.S.Syamala Reddy, W/o. Late Squadron Leader. Professor.Dr.S.G.Reddy,aged 78. years, Senior Gynaecologist ,We are writing with regard to and Presenting facts as to how nationalised Canara bank is exploiting women professionals whose defence officer husbands served Bharat mata and now their families are damaged and devastated by canara bank. I am 78 year old reputed’ gynaecologist is asking for silent death or euthanasia and request you to look into case of canara bank case as we expressing inability to pay anymore EMIs due to grave lapse commitment by canara bank on Dr.S.Syamala Reddyji. I am paying EMIs from 2006. We request you to understand depth of damages suffered by Dr.S.Syamala reddyji, We will be very grateful for the same. I always worked and earned by bread by saving valuable lives and today 1 am begging for JUSTICE.
I would like to bring to your kind notice that my financial position was severely and very badly affected by my bank, Canara Bank, Ulsoor,Bl as excess collateral were taken from me by Canara Bank on the loans provided. As collateral collected was against rules of Loan towards value as laid out by RBI and was 1100 percent of collateral value. We filed writ petition number: 23417/2022(Copy is enclosed).-All loans are taken by me from Canara bank, Ulsoor, Blr. VALUATION AMOUNTS MENTIONED BY CANARA BANK PANEL VALUATORS ARE 40 PERCENT OF MARKET VALUE(AS CANARA BANK MENTIONS “DISTRESS SALE COST OF 20 PERCENT” AFTER VALUATING ALL COLLATERALS AT FIFTY PERCENT OF MARKET VALUE- REF: ALL CANARA BANK VALUATION REPORTS OF ALL MY BELOW MENTIONED PREMISES TOWARDS WHICH CREDIT FACILITIES WERE SANCTIONED).
01: In 2006, I had taken a loan of Rs. 80 Laths from canara bank and the bank took a collateral valued at Rs. 120 Lakhs.
02.In 2012, I had taken second loan of Rs. 80 Lakhs and the bank took a collateral valued at Rs 9.47 Crores.(Rs 847 lakhs was one building collateral taken by bank and inspite of already having collateral of in excess of Its 10 Crores,to sanction this loan of Its 80(Eighty lakhs) they said they needed more collateral and took additional collateral of one Airforce flat valued at Its 100 lakhs).
Canara Bank Lapse/ Mistake No 01: THUS MAKING COLLATERAL HELD BY CANARASANK IN EXCESS OF RS ELEVEN CRORES FOR TOTAL LOAN OF RS 130 LAKHS THAT WAS PAID AS REGULAR EMI’S.
Conan Bank Lapse/ Mistake No 02: In 2014,to purchase a poly clinic building I had taken a total loan of Its 145 Lakhs( Rs. 83 Laths under Doctors choice scheme(CGTMSE Scheme) and Its 65 laths was sanctioned under canara bank DPN .
Canara Bank Lapse/ Mistake No 03: 19.2 Lakhs towards BDA Flat allotted to me and the bank took a collateral valued at Rs. 1.64 Crores.
Canara Bank Lapse/ Mistake No 04: In 2018, I had taken a loan of Rs. 74 Lakhs from canara bank and the bank took a collateral valued at Rs. 1500 Lakhs(Rs 15 crores).
Canara Bank Lapse/ Mistake No 05: At no stage in spite of our numerous request, letters representative, verbal request and mails etc. at no stage Canara bank returned excess collaterals already held by them and through illegal banking practices of canara bank at all occasion continued to take additional collaterals and contained by not sanctioning loan unless Canara bank kept amassing collaterals illegally. In a nutshell as per Canon bank valuation of Its 33. Crores ( Rupees Thirty Three Crores) Property collateral is held illegally by canara bank towards, total loan sanctioned and dispersed by canara bank is 370 lakhs (Rupees three hundred and seventy lakhs only or Rupees three crores and seventy lakhs only)
As explained above, due to excess collateral taken by Canara Bank wrong banking practices that led to my financial hardships, lliad taken multiple loans and over and above that, 1 have unnecessarily given up assets to the bank and my fund flow was severely affected. The total current value of assets as mentioned by canara bank in year 2022 collateral is worth Rs. 33 Crore and market value is in excess of 70 Crore. Since the bank has taken excess collateral, I had requested the bank multiple times to release the collateral and after the bank refused to do so, I have filed a writ petition as above mentioned against canara bank and claimed for recovery of damages. As explained above, all my high value assets were with the bank and my other professional and personal transactions were funded through the loans taken. We were facing this issue since 2012 (since Airforce naval housing board flat ,East of NGEF, Jalvayu Towers,Blr collateral was taken in spite of canara bank having ten times more collateral in year 2012) and it has affected my professional and personal life adversely , damaged and devastated me my educational institutions, my Medical and Dental Hospital and my Family future.
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