Citicorp finance
Refund of wrongful VAT collected on car loan

I have availed a car loan through my employer Oracle India Pvt Ltd (which Citi folks term as lease not loan) to purchase Maruti Zen in year 2004. Later in 2005 when I left Oracle, I had to foreclose the loan. At that time Citicorp Finance collected a hefty VAT amount of about Rs 50, 000 with promise that the VAT amount will be refunded to me in 2-3 months. Hence I paid the extra amount and got the NOC in my name and got the lease closed. Later I was informed that the matter is in court with the Tax department and it will take some time to refund the amount.

Unfortunately it has been more then 5 years now and I have been running from pillar to post to get any update. Initially Citicorp Finance folks were responsive but after a while they have even stopped responding to my queries. Going through Citi Group customer service also fetches no response. On further investigation I found that CitiCorp Finance has become more or less a defunct organization. Even on the citigroup.com website there is no mention of CitiCorp Finance.

I am thinking of going to Consumer Forum and lodging a complaint. If anyone is also suffering through similar situation please let know. Or if you know of any legal case already for this matter I would like to be a party.

Thanks

Company: Citicorp finance
Country: India
State: Karnataka
City: Bangalore

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