I had applied for car loan through a company called Augment Info Systems Pvt Ltd (Auto India) having in Kuber Complex at Andheri Link Road. A Relationship Manager by Name Trupti got in touch with me and promised to get a loan sanctioned by Nov 2 and accordingly collected Documents and a cheque of Rs. 5000. However, they failed to get the loan sanctioned by the promised time. Repeated calls at the office number went unanswered and the RM failed to provide any update before Diwali leave. Later her superior Mr. Liv Vasudevan got involved and introduced another RM Mr. Ebrahim and he promised to get the loan approved by Nov 13. The cell phones of both Mr. Vaudevan and Mr. Ebrahim are switched off and the office landline despite being answered denies to provide and update. The normal processing charge of the bank to process a loan is 0.50% of the approved amount (Rs. 395000). The sum over and above the processing charge was given with an intention of getting timely approval of loan. However, I had to go through more followups and delays than getting the loan approved my self.
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