[Letter to S V Raju]

Summary

This three-page Swatantra Party Central Office letter, dictated by M. R. Masani and addressed to “Mr. Raju,” sets out a proposed settlement of Raja Bahadur Ramgarh’s debt to the Central Bank. Masani recommends that Ramgarh pay Rs. 1,20,000 plus the interest due on that amount, while New India Assurance Co., identified as guarantor, recovers the remaining interest by taking possession and selling 23 jeeps belonging to the Swatantra Party. To secure the transaction, Masani offers to authorize the transfer of the jeeps through New India Assurance.

The accompanying correspondence records the risks of allowing the Bank to take possession before Ramgarh pays and renounces his rights in the vehicles. Masani proposes consultations with New India Assurance, K. M. Munshi, N. Dandekar, and legal advisers, including Dara Mehta of Little and Company. The letter is practical and procedural rather than ideological, emphasizing protection of party property, debt recovery, documentary authorization, and professional legal handling. The pages contain conflicting dates: the letterhead is dated 20 September 1963, while the closing on page 3 says 1 September 1963.

Key points

• Masani proposes that Raja Bahadur Ramgarh immediately pay the Central Bank Rs. 1,20,000 plus the interest on that sum.
• New India Assurance Co. is expected to cover the remaining interest as guarantor by taking and selling 23 Swatantra Party jeeps.
• The proposed transaction concerns 23 jeeps purchased for Rs. 2,80,000 and held as party property.
• Masani warns that the Bank could appropriate the jeeps against Ramgarh’s entire debt unless Ramgarh first pays and renounces his rights in them.
• The letter recommends consultations with New India Assurance, K. M. Munshi, and N. Dandekar before action is authorized.
• Masani suggests confirming Ramgarh’s willingness to accept the arrangement and engaging a solicitor because of the matter’s legal pitfalls.
• The document has inconsistent internal dates: 20 September 1963 on the letterhead and 1 September 1963 in the closing.