360° Coverage : Indians accuse Indian Bank in US of discrimination

1 Updates
Indians accuse Indian Bank in US of discrimination
Photo Credit: Johannes Simon, Getty Images

Indians accuse Indian Bank in US of discrimination

Aug 22 2013, 12:42am CDT | by IANS

Washington, Aug 22 (IANS) A Michigan judge has ruled that an unusual lawsuit alleging discrimination against a bank set up by members of the local Indian and east Asian business community by two of its Indian customers can proceed.

Washington, Aug 22 — A Michigan judge has ruled that an unusual lawsuit alleging discrimination against a bank set up by members of the local Indian and east Asian business community by two of its...

Filed under: news

YouTube Videos

 
 
 

1 year ago

Indians accuse Indian Bank in US of discrimination

Aug 22 2013, 12:42am CDT | by IANS

Washington, Aug 22 (IANS) A Michigan judge has ruled that an unusual lawsuit alleging discrimination against a bank set up by members of the local Indian and east Asian business community by two of its Indian customers can proceed.

Washington, Aug 22 — A Michigan judge has ruled that an unusual lawsuit alleging discrimination against a bank set up by members of the local Indian and east Asian business community by two of its Indian customers can proceed.

Oakland County Circuit Court Judge Denise Langford Morris Wednesday ruled that while the case against Novi-based Lotus Bancorp Inc. and three of its senior officers can proceed, he denied a motion to establish it as a class-action lawsuit.

According to crainsdetroit.com what makes the lawsuit unusual is that Lotus Bancorp, the holding company for Novi-based Lotus Bank, was founded in 2007 by members of the local Indian and East Asian business community. Most of those who invested in the bank were of Indian descent. Most of its board members are Indian.

And yet two of the bank's Indian customers, Jasit Takhar and Anil Gupta, last March filed the case alleging discrimination when they fell behind on payments on a nearly $1.5 million loan from Lotus to buy a Travelodge motel in Jackson.

The lawsuit is based on a series of emails in 2010 and 2011 by the bank's president, Neal Searle, and one of its executive vice presidents, Richard Bauer, who is also the bank's CFO, crainsdetroit.com said.

Both are named as defendants, as is chief lending officer John Westerheide, the recipient of some of the emails, which contain highly derogatory comments about Indians.

One, by Bauer, as cited by the website, said that "the only good Indian is a dead Indian," and another by him, when asked if he wanted free tickets for his Indian customers to attend a concert by an Indian singer, said he was "only interested if someone is going to detonate an incendiary device."

A brief in the lawsuit quotes Searle as saying, in reference to others associated with the bank: "I don't care what your Indian buddies told you, I make the decisions. I know how you Indians operate. You like to deal with someone you know in upper management, but this does not work like that. Do you understand English?"

Takhar and Gupta eventually got current on their loan after repeatedly being threatened with foreclosure, crainsdetroit.com reported.

Arguing to have the case dismissed, the Lotus bank's lawyer Patrick McCarthy Wednesday agreed that the emails by Searle and Bauer were wrong, but said they had nothing to do with the bank's actions regarding Takhar and Gupta.

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Look at India, Modi tells Japan
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday hoped Japan will follow "Look at India" policy.
 
 
Return as India's envoys, Modi to India-bound Japanese youth
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday kicked-off a new initiative on training for Japanese youth started by Tata Consultancy Services (TCS) at its various facilities in India, asking them to return to Japan as India's ambassadors.
 
 
India committed to peace: Modi
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday said that India is committed to peace and this commitment has "significance far above any international treaties or processes".
 
 
Modi stresses on women empowerment, education
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday stressed on the need for women's empowerment in the present-day world.
 
 
 

Latest from the Network

Carrie Underwood announces pregnancy
Los Angeles, Sep 2 (IANS) Country star Carrie Underwood and NHL player Mike Fisher have announced that they are expecting their first child. Underwood and Fisher posted the news on their social media accounts Monday,...
Read more on Celebrity Balla
 
Look at India, Modi tells Japan
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday hoped Japan will follow "Look at India" policy. "Just as India is focusing on Look East policy, we expect Look at India policy from Japan," Modi said, adding...
Read more on Politics Balla
 
Return as India's envoys, Modi to India-bound Japanese youth
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday kicked-off a new initiative on training for Japanese youth started by Tata Consultancy Services (TCS) at its various facilities in India, asking them to return...
Read more on Politics Balla
 
Scientists get ready for mock on-site nuclear inspection
Washington, Sep 2 (IANS) Some 40 scientists and technicians from around the world will descend on Jordan in November to take part in a simulated on-site inspection of a suspected nuclear test site on the banks of the...
Read more on Apple Balla
 
Sam Smith was in love with straight man
Sam Smith fell in love with a straight man. The 22-year-old star - who opened up about his own sexuality earlier this year - has now revealed the man who inspired the heartbreaking lyrics to many of the tracks on his...
Read more on Celebrity Balla
 
Diana Ross hosts 'farewell barbecue'
Diana Ross hosted a ''farewell barbecue'' for Evan Ross and Ashley Simpson. The 70-year-old star threw the party for her son and his new bride the day after their wedding to wish them well on their journey into married...
Read more on Celebrity Balla
 
Family dinners protect kids from cyber-bullying
Toronto, Sep 2 (IANS) Make it a point not to miss family dinners to connect with your kids and help them cope with cyber-bullying. Like traditional bullying, cyber or internet bullying can increase the risk of mental...
Read more on Celebrity Balla
 
Maradona meets Pope at 'Match for Peace'
Rome, Sep 2 (IANS) Argentine football legend Diego Maradona briefly met Pope Francis, an avid football fan, before the start of 'Match for Peace' exhibition game and presented him with an Argentina shirt. Pope Francis...
Read more on Sport Balla
 
India committed to peace: Modi
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday said that India is committed to peace and this commitment has "significance far above any international treaties or processes". "Commitment to peace and non-...
Read more on Politics Balla