Subject:- Excess Interest charged as per bank sanction letter
Dear Sir,
I the undersigned, Suresh Bhagwan Chinta, Proprietor CIBITRONICS, have opened a CC (cash credit) account with Cosmos Coop bank, CC 190, in 1998 at Dadar Branch
In 2004 while going through my statements I have found the bank have charged more interest that was mentioned in the sanction letter. After following for months they realized their mistake and have credited Rs. 14212/- 31st Dec.
The same thing again happened in May and got the credit back on 10 May.
With the 2 mistakes happening with the bank on my account, I gone through all my statements from 1998 and to my surprise the excess interest was charged to me from 1998 accumulating to amount of Rs. 300000/-
Since 2005 I have been following up with the bank for my interest reversal but no one has ever entertained me in this regards. Ever after they would say the auditors are working on the same.
Following are my follow up dates with the bank
29th Dec 9th June 13th June 29th Jan 12th July.
I have been very generous to the bank and was paying my dues on dates.
I have been submitting my debtors list and stock list to the bank every month on time.
With such number of follow-ups, the bank has still not sorted out my interest reversal problem.
The reversal money would have been used for my company at the time of recession too.
Requesting you to please look into this case and do the needful as soon as possible.
Awaiting for your reply
Thanking You
Suresh Bhagwan Chinta
CIBITRONICS
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