Ref. : Representation / Complaint dated 14.08.2019 against the fraud, forgery and illegalities of Kotak Mahindra Bank, its officials for taking appropriate action against Mr. Uday Suresh Kotak and his other associates i.e. Directors / officials of Kotak Mahindra Bank and other person involved in conspiracy of committing the offence against Mumbai based businessman Dr. Santosh Kumar Bagla and his family (hereinafter Applicants).
Aggrieved by the illegal & fraudulent acts of Kotak Mahindra Bank, the Applicants issued a legal notice dated 13.08.2019 to Kotak Mahindra Bank Ltd, its erring officials and other person for damages arising out of the illegal acts and malicious prosecution.
The Applicants subsequently sent a Representation / Complaint dated 14.08.2019, against the frauds, forgery and illegalities of Kotak Mahindra Bank and its officials, for taking appropriate action against Kotak Mahindra Bank, its Directors / officials and other person involved in conspiracy of committing the offence against the Bagla family, to Hon’ble President of India, Prime Minister of India & Other Central &State Government authorities.
The Applicants have also sent the aforesaid Representation / Complaint dated 14.08.2019 to various authorities with prayer to direct the CBI and /or Anti Corruption Bureau to register a case against Mr. Uday Suresh Kotak, Mg. Director & CEO, Mr Sanjay Kumar, Officer, Chandra Shekhar Prasad, the then Dy. Manager (Legal), Ms. Bina Chandarana, Company Secretary, other officials of the Kotak Mahindra Bank, Mr. Virendra Kumar Sharma and other person including the police officials who are found to be involved in such type of illegal activities.
ACTION / COGNIZANCE ALREADY TAKEN BY THE AUTHORITIES IN THE MATTER
The Applicants have received replies dated 03/09/2019 and 04/09/2019 with Registration No. PMOPG/D/2019/0318007 & PMOPG/D/2019/0320812from PMO wherein the Complaint of the Applicants was transferred to The Secretary, Department of Financial Services (Banking Division) for action as appropriate. The Copy of the both the above letters dated 03/09/2019 and 04/09/2019, are attached as Annexure-1 & Annexure-2.
Thereafter, a Reminder Letter dated 03rd September 2019 was sent by the Applicants to The Secretary, Department of Financial Services (Banking Division), The Governor, RBI and various other Central Govt. Authorities in the reference of the Representation dated 14.08.2019, against the fraud and forgery and illegalities of Kotak Mahindra Bank, its officials and for taking appropriate action against Mr. Uday S Kotak and his other associates. The Copy of the said letter dated 3.09.2019, is attached as Annexure-3.
The Secretary, PMO, has directed Mr. R Kamalakannan, CEPD of RBI on 3rd September 2019, and requested to “Arrange to examine and redress the grievance and give appropriate reply to the complainant within a time bound manner. After redressed, a copy of reply given to complainant along with comments and action may be uploaded on the CPGRAMS portal”. The Copy of the status report as downloaded from the portal, is attached as Annexure-4.
In view of the above, the Applicants sent a letter dated 06.09.2019 to The Secretary, Department of Financial Services (Banking Division), in the reference of the Representation dated 14th August 2019, against the fraud and forgery and illegalities of Kotak Mahindra Bank, its officials and for taking appropriate action against Mr. Uday S.Kotak and his other associates.
Also, in reference to the Representation / Complaint dated 14.08.2019 of the Applicants, PMO directed Mr. Nikhil Pohare, Nodal Officer of Kotak Mahindra Bank Ltd through portal on dated 17.09.2019, and request to “Arrange to examine and redress the grievance and give appropriate reply to the complainant within a time bound manner. After redressal, a copy of reply given to complainant along with your comments / action may be uploaded on the CPGRAMS portal”. The Copy of the status report downloaded from the portal, is attached as Annexure-5.
The Applicants again vide its letter dated 17/09/2019 addressed to Prime Minister and copy to Mr. Nikhil Pohare, Nodal Officer of Kotak Mahindra Bank Ltd, has requested to issue appropriate direction to Nodal Officer in the said matter and also to issue direction to Nodal Officer to give personal hearing to the applicants in the matter.
Mr. Nikhil Pohare, Nodal Officer of Kotak Mahindra Bank Ltd, replied through E-Mail on 18.09.2019 as – “We are investigating the details of the matter highlighted to us and will respond to you within 5 (Five) business days’ time”. The downloaded copy of the said mail dated 18/09/2019, is attached as Annexure-6. However, one month has passed since then, but the Nodal Officer is yet to file his reply/ report in the matter.
Thereafter, the Applicants sent a letter dated 21/09/2019 to Mr. Nikhil Pohare, Nodal Officer of Kotak Mahindra Bank Ltd along with copy to various authorities, for taking the action appropriately in the said matter.
Again, the Applicants had sent a letter dated 01/10/2019 to Mr. Nikhil Pohare, Nodal Officer of Kotak Mahindra Bank Ltd along with copy to various authorities, for taking the action appropriately in the said matter.
Further, in reference to PMO letter dated 03/09/2019 Registration No. PMOPG/D/2019/0318007, the Applicants received a reply dated 01/10/2019 being Registration No. 2/339-2019-BO. III, from Ministry of Finance wherein the Applicants were informed that complaint has been transferred to RBI for providing requisite information. The Copy of the letter dated 01/10/2019, is attached as Annexure-7.
The Applicants have received replies from President Office dated 23/08/2019 with Registration No. P1/E/2308190138, wherein the Complaint of the Applicants was transferred to The Secretary, Ministry of Finance for action as appropriate. The Copy of the letter dated 23/08/2019, is attached as Annexure-8.
The Applicants have received replies from Vice President’s Office dated 30/08/2019 with Registration No. VPS/R-30.08.2019/US, wherein the Complaint of the Applicants was transferred to The Secretary, Ministry of Finance for action as appropriate. The Copy of the said reply dated 30/08/2019, is attached as Annexure-9.
The Applicants have received replies from the Office of the Governor of Maharashtra, Mumbai dated 16/09/2019 with Registration No. 4010978/20/RB(ADM), wherein the complaint of the Applicants was transferred to Ministry of Home Affairs, Mumbai for action as appropriate. The Copy of the said reply dated 16/09/2019, is attached as Annexure-10.
The Applicants have received replies from Ministry of Corporate Affairs dated 24/9/2019, wherein the complaint of the Applicants was transferred to RBI for further appropriate action. The Copy of the letter dated 24/09/2019, is attached as Annexure-11.
The Applicants also made a representation before the Hon’ble High Court of Delhi on 14.08.2019 which has been diarized with D. No. 2115. The Copy of the letter dated 10/10/2019 as received from the Hon’ble High Court of Delhi, is attached as Annexure-12.
The Applicants made a representation before the Hon’ble Supreme Court of India on 14.10.2019 which has been diarized with R & I Section, Supreme Court of India, as No. 4120. The same is pending before the apex court.
It is to clarify that because of illegal act and malicious prosecution by Kotak Mahindra Bank, its officials and Mr. Virendra Kumar Sharma, they all have not only maligned the social and business reputation of Dr. Santosh Kumar Bagla and his family but have also caused wrongful loss to them so much so that they had to resign and sell their stake of various companies and also their property.
The applicants had filed an complaint U/s 156(3) Cr.P.C. being CC No. 39475/2016 against Kotak Mahindra Bank & others before the Court of MM-05/Patiala House Courts, New Delhi. The Counsel of the complainants/ applicants has informed that on the last date of hearing i.e. on 14.10.2019, the Ld. MM Court has allowed the application of the complainants and has ordered the SHO concerned to register an FIR against the accused i.e. Kotak Mahindra Bank and others, involved in the matter.
As stated above, the Applicants feeling aggrieved by the illegal & fraudulent acts of the accused, have already set the law into motion and are in the process of taking other legal remedies available in law for the redressal of their grievances.
The clarification in the matter given by Kotak Mahindra Bank that – “It’s a routine process for the PMO to direct a grievance on banking and financial matter to the Finance Ministry to look into the matter and take appropriate action”, in no manner can be termed as merely a routine procedure in the instant case. The authorities to whom the complainants / applicants approached, have with due thoroughness while considering the gravity of the matter, have forwarded the representations of the applicants for appropriate action as mentioned hereinabove. In this manner the authorities concerned have already taken cognizance of matter on their part whereas some more petitions / complaints of the applicants, are yet to be decided as the same are still pending decision.
