PMC Bank
Ashish Mehta
Dear Rosewood Heights members,
There is some bad news for all of us.
Today RBI has put a ban on Punjab & Maharashtra Co Op Bank Ltd ( PMC Bank) to stop transactions for a period of 6 months ( circular attached). Our society account is with them and we have our FDs also with them. Announcing such a ban will surely put all of us in huge problem- specially for making payments to all suppliers/vendors Govt. authorities etc. on or before due dates.
While the management committee will do its best to find out an alternate workable options which should ease out the situation till the time the ban is operative , we seek full support for our esteemed members to extend their support to the management committee in overcoming this unprecedented situation. We may need to open another account with a scheduled bank and for that we would surely need to have support from all the members.
We are meeting today in the evening to deliberate on the various options we would have and shall communicate to all. The management committee will try its best to ensure all statutory payments are done on time, however this is going to be very tough given the challenging situation we presently are facing.
Regards
Ashish Mehta
On belaf of the Management Committee
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Ashish Mehta
Dear Rosewood Heights members,
We request all members not to transfer any amount to PMC Bank against maintenance charges until further notice from the management committee as we will not be able to use this amount.
We are in the process of making an application to RBI today and will share the outcome in due course. The management committee met yesterday late evening to discuss further course of action which we will keep you all posted.
Thank you for your continued support
Regards
Ashish Mehta
On behalf of the management committee
Ashish Mehta
Dear Rosewood Heights members,
While the stalemate with PMC still continues we have now opened bank account with SBI and the details are as under:
BANK HOLDER NAME : THARWANI ROSEWOOD HEIGHTS CHS LTD
BANK A/C NO. : 38803983485
BANK NAME : STATE BANK OF INDIA, KHARGHAR, SECTOR-10
IFSC CODE : SBIN0018648
MICR : 400002374
Account : Current
With freeze on the bank account on PMC- lot of money of the society presently is blocked with PMC and running the show is really very challenging for all of us. Under this circumstance we humbly request all our esteemed members to please clear their maintenance dues immediately and transfer the amount to SBI details of which are given above- PLEASE DO NOT TRANSER ANY AMOUNT TO PMC BANK.
The list of members who have still not cleared their maintenance chares is enclosed- if there is any discrepancy in the amount against any name then please write to the society manager on his email id : rwmana...@gmail.com with a copy to me and not send mail on the common maid id
We also request members to be kind enough to pay some advance to the society even though they might have paid full year’s maintenance charges- I am pleased to inform that one member today has paid a cheque of Rs.1,00,000/- as advance – we really appreciate this gesture…!
The monthly minimum outflow of the society on account of Electricity charges/water charges/Housekeeping/Security/Salary/routine repairs etc. is ~ Rs.9 to 10 lacs and we need to have the balance made available on war footing. The fixed deposit with PMC cannot be utilised due to the embargo by RBI
We hope you all will appreciate the situation we presently are in and be kind enough to extend your support.
Best Regards
Ashish Mehta
On behalf of the Management Committee
Ashish Mehta
Dear Rosewood heights Members,
Greetings..!
Further to our communication on PMC Bank matter please note that the management committee deliberated on the various options to overcome the sudden crisis we all are being subjected to. On an average the monthly outflow of cash is towards Electricity charges/Housekeeping/Security Charges/Water charges apart from other routine maintenance coast and salary of society staff etc. and this amounts to approx. Rs.10 lacs per month. If the embargo by RBI on PMC bank continues for 6 months as said in their circular continues then we require ~ Rs.60 lacs of cash..
As a first step we have opened current account with SBI which was communicated to the members vide trailing mail. Present outstanding from members against maintenance charges ( including for the current quarter Oct 19 to Dec 19 for which invoices has been raised on 1st Oct 19) is ~ Rs.23 lacs ( member wise due list attached). We request each and every member to pay their dues immediately without any further delay into account with SBI.
Management has also decided to take an ad hoc contribution from each member to the extent of Rs.20000/- This will help us to overcome the situation we are presently in. Kindly note that while the management will do its best to curtail expenses including deferment of the activity , you all will appreciate that we cannot afford to delay payments towards electricity/housekeeping/security services/salary etc. and this needs to be paid on a regular basis.
We request all members to first clear their dues and also be kind enough to contribute Rs.20000/- to the society. We are pleased to inform that some members have already started doing so and we thank them. Once the ban on PMC is lifted management will revert to the members on how this will get adjusted. ( We also in our last AGM approved contribution for major floor repair work which we will now differ for some time).
A special General Meeting of the members is being called on this Sunday 6th October 2019 at 11 am to take approval of the members and ratify the decision of the management committee for an ad hoc contribution of Rs.20000/- from each member.( Notice is eclosed)
In a crisis like situation which we are in it is the cooperation of all members that will help overcome the same and we are sure each and every member will come forward and do their bit.
Many thanks & Regards
Ashish Mehta
On Behalf of the Management Committee
Ashish Mehta
I have also transferred 20 + some additional amount to help in this special case. MC please adjust additonal amount whenever u do accounting.I m very worried about the poor and marginals who depend on our compassion here. I ve been asked by a few employees whether we will get salary or not and I assured them the society will provide for them. It's not just about the society only but also about others who depend on us. Would request members to contribute this as an exceptional circumstances on an immediate basis so that they dont get into trouble due to late salaries. For many of us this 20K is not a small amount of money but it's still a manageble amount if we compare to the kind of society we presently live in whose flats are each worth crore +....ThanksKumarKumarOn Wed, 2 Oct 2019, 20:15 Altaf Patel, <p.a...@gmail.com> wrote:Hi AshishThanks for your note. I understand the urgency of situation and hence the exception response and support required from residents. I have just now transferred INR 20000 into the SBI account. Appreciate all the effort MC is making to improve the situation of residents here. Many thanks.RegardsAltaf
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Ashish Mehta
Dear Mr. Matta,
We gather from your mail that you too, like many other members of the society, including the society itself have account with PMC Bank and sincerely sympathise with your feelings and appreciate the agony which you are presently facing due to the unwarranted situation that has come across.
While we understand that you have to ensure the needs of your family are taken care of in this situation, we as a committee member feel a larger duty to ensure we take care of not only the 234 families that reside in this society but also owe a moral responsibility to the other people who are fully dependant on our society- e g the employees/gardener/electrician/housekeeping staff/security staff etc. Keeping this in mind the committee took full stock of the situation and arrived at a conclusion that we should seek the support of the members by requesting an ad hoc amount of Rs.20000/- from each member to ensure we have enough cash to run the show for the next 6 months.
While you have expressed your judgement of not having any trust on the management committee, you will be pleased to note that immediately on our communication to members requesting for ad hoc amount , many members without batting an eyelid transferred amount , not waiting for the SGM to happen. I suppose this is best testimonial of the members reposing their trust on the management committee and we sincerely appreciate their gesture.
Apart from writing letters to RBI and other forum, management committee has also spoken to senior members at RBI to allow society like us who have only one bank account with PMC Bank, to withdraw a larger amount that what is specified, but I am sure you will appreciate that rules made by RBI are applicable to all and we cannot become an exception. In case you have any other ideas we welcome you to share your thoughts with us in the society office.
The most easiest way to optimise the expenses is to reduce the housekeeping staff/ security staff/ cut on electricity/ have few hours where only 50% lift will be allowed to operate etc. but all these measures will surely cause greater inconvenience to the society members at large and will not serve the purpose. However having said that the management committee will continue to do its best to manage the show.
As mentioned in our trailing mail, we need minimum of Rs.10 lacs per month to meet the basic requirement and keep all facilities/services etc. up and running.
Best Regards
Ashish Mehta
On behalf of the management committee
From: Ashish Matta [mailto:cheng.as...@gmail.com]
Sent: 02 October 2019 19:31
To: rosewood-hei...@googlegroups.com
Cc: ashis...@rallis.co.in
Subject: Re: [Rosewood Heights] RE: PMC Bank
Dear Mr. Ashish Mehta,
Kindly note, I will not be able to contribute Rs. 20000, as my personal account is also with PMC bank and excess amount is stuck with them. I will also not pay any interest charges as society is responsible for taking care of our money, which society has failed. I am fighting my own financial battle and expect the society MC to do the same without increasing burden on innocent PMC bank depositors. Unfortunately, the base of my trust on PMC bank was that our society also has account in the same. I have lost trust in society and banking system.
I request society members to also discuss how to get back our money.
Also kindly note, as I expect to be out of Mumbai for official purpose on 06th, I may not be able to attend the meeting.
Best Regards,
Ashish Matta
Sumac 703.
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Ashish Mehta
Thanks Udayji,
Really appreciate your support
Regards
Ashish Mehta
From: rosewood-hei...@googlegroups.com [mailto:rosewood-hei...@googlegroups.com] On Behalf Of Uday Narayan
Sent: 03 October 2019 09:18
To: rosewood-hei...@googlegroups.com
Cc: Rosewood-...@googlegroups.com; Rosewood Heights <rwmana...@gmail.com>
Subject: RE: [Rosewood Heights] RE: PMC Bank
Dear Ashishji
Transferred Q3+20K and beyond. Adjust as suitable & share the receipt. This is out of gratitude to all MC members and all members of society at large, for the passion, innovation & commitment they put in maintenance, housekeeping and multiple events etc. Green drive something close to it.
Thanks & keep it up.
Thanks & Regards,
Uday Narayan
From: 'Sanjay Jadhav' via Rosewood Heights, Kharghar [mailto:rosewood-hei...@googlegroups.com]
Sent: Thursday, October 03, 2019 8:36 AM
To: rosewood-hei...@googlegroups.com
Cc: Ashish Matta; Rosewood-...@googlegroups.com; Rosewood Heights
Subject: Re: [Rosewood Heights] RE: PMC Bank
Dear Ashish/ Jha,
We have transferred Rs 20,000/- as adhoc payment towards our flat Lilac 403 today to society’s SBI bank account.
Kindly acknowledge the receipt of the same.
Photo snap of payment transfer is attached.
Please note that while adding payee, I observed that this SBI branch is showing in the state of Delhi.
Regards,
Sanjay Jadhav
Lilac 403
Regards
Sent from my iPhone
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Ashish Mehta
Thank you Madam- really appreciate your support
Formal receipt will be issued by the society manager
Regards
Ashish Mehta
From: 'Gungun Chanda' via Rosewood Heights, Kharghar [mailto:rosewood-hei...@googlegroups.com]
Sent: 03 October 2019 19:47
To: rosewood-hei...@googlegroups.com
Cc: Rosewood-...@googlegroups.com; Rosewood Heights <rwmana...@gmail.com>
Subject: Re: [Rosewood Heights] RE: PMC Bank
Dear Ashishji
Transferred today, an ad-hoc payment of 20,000/- towards our flat Cedar 1001 to the new SBI account. Screenshot of the page is attached herewith.
Please acknowledge and share the receipt of the same at your convenience.
Thank you
Best regards
Gungun Chanda
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Ashish Mehta
On 09-Oct-2019, at 7:52 PM, 'pradip roy' via Rosewood Heights, Kharghar <rosewood-hei...@googlegroups.com> wrote:
I have just now transferred to SBI account for Rs. 17.5k Q2FY20 Maint fees and Rs. 20k adhoc payment. Kindly acknowledge..
FLAT-E801
Pradip
From: Anmol Shanbhag <anmols...@hotmail.com>
Sent: Sun, 06 Oct 2019 10:42:10
To: "rosewood-hei...@googlegroups.com" <rosewood-hei...@googlegroups.com>
Subject: Re: [Rosewood Heights] PMC Bank
Requesting all owners who are paying the quarterly maintenance as well as Rs 20k ad-hoc amount to please mention their Flat number in the Remarks column of NEFT/IMPS...we have received many payments but haven't been able to understand who has transferred the amount.
From: rosewood-hei...@googlegroups.com <rosewood-hei...@googlegroups.com> on behalf of Vinod G <vinod...@gmail.com>
Sent: Sunday, October 6, 2019 10:32:50 AM
To: rosewood-hei...@googlegroups.com <rosewood-hei...@googlegroups.com>
Subject: Re: [Rosewood Heights] RE: PMC Bank
Me tooRegards,Vinod GHazel-302
On Sun, Oct 6, 2019, 10:15 sanjay gupta <sanjayg...@gmail.com> wrote:
Dear Mr. Ashish & Jhaji,I have transferred Rs 20,000 / - as adhoc payment in new SBI society account from Axis bank for towards our flat LILAC 1602.Please confirm and forward the receipt. I also have paid 1 year advance maintenance earlier.Thanks & Regards ,Sanjay Kumar GuptaLilac 1602Cell : 8451043474
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Ashish Mehta
Dear Mr. Mardhani,
Please see the communication below
CC- Dear Mr Jha- please update the email ids if required