Without Prejudice
Dated: 30.12.2019
Mr. Anand Gopal Mahindra,
Ex-Director,
Kotak Mahindra Bank Ltd.,
Sub: Regarding your role in Kotak Mahindra Bank’s frauds, forgery and illegalities committed against the applicants herein and making their lives as miserable putting the same at stake.
Ref: Complaint of malicious prosecution and defamation by Bagla Family, against Kotak Mahindra Bank and Others including Uday S. Kotak, MD & CEO and Anand Mahindra, Ex-Director; and Legal Notice dated 13/08/2019, 20/12/2019 and Letter dated 19/12/2019.
Sir,
The applicants –
1) Dr. Santosh Kumar Bagla S/o. Late Lachhmi Narayan Bagla;
2) Smt. Pushpa Bagla W/o. Dr. Santosh Kumar Bagla; &
3) Bhupendra Bagla S/o Dr. Santosh Kumar Bagla
(hereinafter collectively referred as the Applicants);
are law abiding Indian citizens having address at La – Magasin, No. 405, 4th Floor, 63, S.V. Road, Santacruz (W), Mumbai-400 054. The Applicants are aggrieved because of the illegal acts and deeds of Kotak Mahindra Bank and its Directors/ Officials. The Applicant(s) had issued a Legal Notice dated 13/08/2019 through their Advocate and letter dated 19.12.2019 of the complainants, for malicious prosecution and defamation against the Applicants. However, no reply has yet been received at your.
An FIR No. 0120/2019 dated 19/10/2019 has been registered under section 420/34 of IPC, against Kotak Mahindra Bank Ltd and six other accused including Mr. Uday S. Kotak, MD & CEO, vide court order dated 14.10.2019 of M.M., Patiala House Courts, New Delhi, arising out of a complaint filed by the Applicant Bhupendra Bagla under Section 156(3) read with Section 200 of Cr.PC with charges U/s 420/464/465/467/ 471/120B/34/109 of IPC, before M.M., Patiala House Courts, New Delhi.
In the said order dated 14.10.2019, the Ld. MM Court at New Delhi has directed as under –
“This court is of the considered view that matter discloses Cognizable Offence and it is relevant to mention here that in FIR No. 149/09 PS B.K. Road lodged by proposed accused no. 7 against the complainant, complainant has been discharged
……This Court is of the considered view that matter requires investigation by police, as several documents are to be collected and verified and number of persons are to be examined. In these circumstances, SHO concerned is directed to register FIR in this matter and investigate the same as per law. Copy of this order be sent to SHO concerned for compliance”.
At the time of the above offence committed by Kotak Bank and its official, you were also in Board of Directors of Kotak Mahindra Bank which was instrumental in passing a resolution in the Board Meeting held on 25.03.2009, to file an O.A. before the Debt Recovery Tribunal, Delhi. The said entire activity of the Bank was in proper knowledge of the board that took the decision to file the said O.A. before the Debt Recovery Tribunal, Delhi and authorised some official to take the action in the matter. Therefore, you including other directors jointly and severely were /are directly responsible/ liable for the affairs and conduct of the Kotak Mahindra Bank.
After registration of the said FIR for committing fraud and forgery by Kotak Mahindra Bank and others, Bagla family has also filed a complaint with the Court of Chief Metropolitan Magistrate, New Delhi for malicious prosecution of the applicants, under Section 200 r/w 190 Cr. P.C. and for taking cognizance of offences Committed U/s 211 (IInd Part), 499/500, 501, 502 r/w 120B/34 IPC, against Kotak Mahindra Bank Ltd & others.
The applicants in the Legal Notice dated 13.08.2019 to Kotak Mahindra Bank Limited and others have sought damages of Rs. 102.5 crores on account of malicious prosecution, defamation and cost of litigations has been claimed and all the facts and evidence have been mentioned about the forgery committed by Kotak Mahindra Bank Ltd. & others. It is submitted that the said legal notice was not sent to all the directors of the Kotak Mahindra Bank Ltd at the relevant time reason being we had no knowledge of involvement of the Directors /person in the said conspiracy.
It is submitted that on the perusal of the order of M.M Patiala House Courts, New Delhi and above-mentioned documents, it is crystal clear that there was conspiracy, cheating and forgery of certain documents which has resulted into registration of the case FIR No. 120/2019 at PS Barakhamba Road, New Delhi. This FIR has now been transferred to District Investigation Unit (DIU), New Delhi District, Mandir Marg, New Delhi for further investigation.
As you are aware, Kotak Mahindra Bank is established under the provisions and guidelines of Reserve Bank of India having branches all over the country. The affairs of the Bank are being managed and controlled by its Managing Director & CEO Mr. Uday Kotak who is responsible for its day to day affairs. The Managing Director & CEO and Regional Manager (Delhi NCR) are directly controlling the affairs of the branch offices of Kotak Bank from its head office and are the decision-making authorities. The applicant/complainant herein in our complaint were not aware of the involvement of certain person including the then Directors of Kotak Mahindra Bank, therefore had primarily made them as “unknown” accused. Now, by a search report issued by a chartered Company Secretary, it revealed and verified that Mr. Anand Mahindra along with certain other persons were Directors of Kotak Mahindra Bank at the relevant time. The complainant accordingly made them accused / party to the said complaint of malicious prosecution. In the complaint apart from one Virendra Kumar Sharma, Kotak Mahindra Bank and its Directors & Company Secretary and other officers namely Mr. Uday Suresh Kotak, Managing Director, The Regional Manager, Kotak Bank (Delhi & NCR), Mr. Anand Mahindra, Mr. Shivaji Dam, Mr. Chengalath Jayram, Dipak Gupta, Ms. Bina Chandarana, Company Secretary, Mr. Chandra Shekhar Prasad (The Then Deputy Manager, Legal), Mr. Sanjay Kumar, Officer, Kotak Bank and CVIL Infra Limited and Bennett Coleman & Company Ltd., were made accused.
Now, the Applicants would like to ask you, being at the helm of affairs of Kotak Mahindra Bank at the relevant time, Why a conspiracy was committed against the applicants? and as a key person why you have not taken any action against the errant officials of Kotak Mahindra Bank for their frauds, forgery and illegalities against the applicant(s)?
By your illegal acts and untrue version of the Bank, the life of the applicants have been spoiled. By this illegal and untrue version, the applicants had to suffer a lot, not only physically but also socially, mentally as well as financially and has to face the following consequences:
The applicants would like to ask you Sir, what was the reason to create foraged and fabricated documents i.e. Power of Attorney and Affidavit by which Bank filed a false complaint against Mr. Bhupendra Bagla?
You have spoiled the life of Applicants’ family, the applicants would like to ask you to give the answer of following questions why such illegal action was taken against the Applicants?
The said letter stated – “during the meeting, after due deliberations and clarification furnished by you, it is cleared that property bearing no. E-41/4 Ground Floor Okhla Industrial Area, Phase-II, New Delhi-110020 is not mortgage or hypothecated to our Bank. It is clarified that the loan otherwise also is an unsecured loan. It is further clarified that it is because of the reason that the loan is an unsecured loan that we have not proceeded against any property including the one detailed herein above treating it to be a security/mortgage for the said loan under SERFAESI.”
By the said letter dated 12/09/.2009, the identity of the Bank in itself is doubtful –
Despite of the above questions which remained unanswered, there are also further question regarding governance in banking systems and involvement of good corporate in White Colour Crimes. The applicants are aware that today, Mr. Anand Mahindra, Chairman of Mahindra Group, is a well-known name in the corporate world, not just in India but in the entire World. Honoured with about one and a half dozen awards such as (outstanding contribution in the business field, Knight of the Order of Merit’ by the President of the French Republic, Leadership Award by American India Foundation, Business Leader Award for the year award, Harvard Business School Alumni Achievement Award, Business Leader of the Year 2011, Global Leadership Award, Sustainable Development Leadership Award etc.), We are also aware that Mr. Mahindra gave one lakh rupees to Mr. Uday Kotak in 1985 to start a business. Uday Kotak also did not disappoint him & after 2003 Kotak Mahindra Bank was placed in some of the leading banks in India.
But with this success, some critical questions also started to arise against Mr. Uday S. Kotak and Mr. Anand Mahindra. Does success mean ruining a weak and small businessman? Can success be achieved only by conspiracy, cheating, forgery etc? Where did those values and ethics went that Uday Kotak discredit Mr. Anand Mahindra, which led to his separation from Kotak Mahindra Bank? Today all these questions are haunting Mr. Uday Kotak, and possibly he has no answer.
Why Mr. Anand Mahindra was ceased to be a promoter of Kotak Mahindra bank in 2013 but continue as a non-executive director? The board of Kotak Mahindra Bank has already approved the exit of Mr. Anand Mahindra as a promoter as per his request. What was the reason for this silent exit?
The Kotak and Mahindras started Kotak Mahindra Bank as a joint venture in 2003 because there are many conditions that a bank have to fulfill for obtaining licenses from RBI and at that time none of them was in the position to fulfill all those conditions solely that’s why they jointly formed Kotak Mahindra group. But in 2009 Mr. Anand Mahindra get separated from Kotak Mahindra due to some managerial issues.
Mr. Uday S. Kotak always talks about Value and ethics in business. But in practice, he does exactly the opposite. Certainly trade means profit making to him. But business doesn’t mean fierce competition, ruining the other, conspiring and trapping the opponent etc which is in vogue these days for Kotak Bank. This creates feeling of insecurity and leads to crime. Kotak Mahindra Bank and its M.D. Mr. Uday S. Kotak did the same thing through a conspiracy against a prominent businessman Dr. Bagla and his family and has ruined them completely. Today, the Bagla family is acquitted / discharged with respect from the said false and frivolous case of Kotak Mahindra Bank after a lengthy legal process (about 10 years). Again after the order of MM, An FIR has also been filed against Kotak Mahindra Bank and its M.D Uday Kotak including others. But who would understand the pain of the loss suffered by Dr. Santosh Kumar Bagla’s family in the last 10 years in every way.
Of course today, with many new enticing promises, they are moving forward by losing value and ethics, ruining many people like Dr. Bagla, but many cases have been registered against them, too. Mr. Uday Kotak owes his success not just to his hard work but also to Mr. Anand Mahindra. But did they share all these things?
It is further submitted that the undersigned is not well since last several years and because of my continuing and deteriorating health conditions and blocking of huge investment in various companies/projects, pressure of creditors and investors have aggravated my health. I am suffering from extreme fragility of health and have developed Hypertension, Ischeamic Heart Disease, Diabetes, Anxiety, Insomnia, Angina Pectoris, Spondolytis, Lower Back Pain in the Lumbar region of Spine and is under treatment of the panel of Doctors.
It is stated that the harassment on the part of Kotak Mahindra Bank, its officials and another and protracted litigation further resulted undersigned’s felling sick and going into acute depression. The undersigned being apprehensive of danger to my life and liberty, therefore, has even sought for providing security to me and my family and in this regard, we have also written to Ministry of Home Affairs/ Delhi Police.
Further, the undersigned have learnt that the officials of Kotak Bank and their associates are now indulging in spreading false and mischievous information that Bagla family is making false claims and there are lot of litigations pending against them. Some persons connected to Kotak Mahindra Bank are even threatening Bagla family for filing complaints and sending notice. All this is being made only to bring disrepute to Bagla family as there is no case pending against the undersigned and his family members as on date. We are in the process of taking appropriate legal action against such bullying and intention to bring disrepute to Bagla family.
Sir, after the registration of FIR against Kotak Mahindra Bank and its officials, including your goodself, the issue has already been highlighted in the media. We are restraining ourselves to approach the media as we have utmost regards for your goodself and the Mahindra Group of companies. We seek an appropriate concern and redressal of our matter at your end.
In view of the above, the applicants highly regrets that no reply has been given in respect of the Legal Notice of Applicants dated 13/08/2019 by Kotak Mahindra Bank and 19.12.2019 by your goodself and no steps are taken to redress the grievances of the undersigned. Now, the Applicants suggests and request that being at the helm of affairs of Kotak Mahindra Bank at a certain point of time, please reply to all the queries we have raised hereinabove and if you are not involved in the above conspiracy, then please give appropriate directions for an investigation in the matter to the concerned officials of your Bank and give a suitable time to the applicants to have a meeting with you so that the applicants is able to put before you all the evidences and explanations in this regard.
Thanking you,
Yours sincerely,
(Dr. Santosh Kumar Bagla)
For Self and on behalf of
The complainants.
