To,
The Commissioner of Police
Bangalore
Dear Sir,
Subject: Complaint against recovery agents/Collection agents of M/S India Bulls for harassment, Threatening and intimidation
Further the above mentioned subject kindly note that I am the director of M/S Value Information Technology Solutions Pvt Ltd dealing in computers and peripherals operating the business for 10 years. In the due course of my business I was offered business loans from Indiabull Financial services and I have availed the same. Also I have been paying them promptly for the past many years.
India bulls Loan No: LSMEBNG00014173
India Bulls Loan No: LIFSBNG00026667
The above said loans are business loans with equated monthly installments. I have been promptly paying the installments till sometime back and due to the global recession, my business has come down drastically and I am facing a severe cash crunch due to which have not been able to pay the EMI payment regularly. When things were going bad I had approached Indiabulls for a restructure of loan during January and they had promised me that the same would be done once the current EMI is paid. Till now we have been following up with indiabulls personnel who despite their promise have not restructured our loan.
From past two days I have been put to tremendous pressure & fright by the following personnel,
Mr Ravi - Phone No 9980855244
Mr Harish - Phone No 9916811914
Today the entire day they had put their person Mr Muniraj from morning and then i was taken to their office where Mr Harish had bluntly told me that things will really go bad if the payment is not done by evening. He had nformed that a set of people would go to my house and would harass my Mother who is a co-applicant to this loan. I had requested them not to resort to anything illegal and moreover my mother being a hypertension patient will cause serious issues.
Till late 7:00PM Mr muniraj was around me when one Mr Ravi called muniraj’s phone number and the phone was passed to me. I was attending to a client and Mr Ravi started shouting on top of his voice with abusive language, swearing on my parents and using all sorts of foul languages. I could not even react to these and then he started threatening me saying that I have not even experienced 10% of damages he can possibly cause. Later again Mr Ravi called Mr muniraj and had asked him to get me near Iskcon temple where he said would show the consequences. I was informed by indiabulls personnel several time at several occasions that they are capable of anything illegal and even the police station will favour them since they have a tie up since long with all the police station across Bangalore. They had informed me that for this sole reason have engaged retired commissioners, inspectors under indiabulls payroll.
I have informed them that at this juncture to clear off the loan installments have been borrowing money and now exhausted the options, I would need some time to recoup or even a restructure of the loan would enable me to pay off the loan. I have also requested them to go legal so that I can plead for a restructure or for additional time. I am sure that these people would create some undesirable damage to me and my family. I request you to please intervene which will avoid certain major disaster to my family. Situation can be more worse since they have informed that they have hired top goons & rowdies of the city to carry out nasty illegal things which are so scary to listen when they narrate. Earlier too we had communicated to Indiabulls CEO Mr Gagan Banga regarding these threats & harassment and got a reply by the CEO’s office that the collection people would not resort to anything illegal. But now things are even worse and my normal life and business is affected severely.
Their approach towards the collection is totally illegal and has put me in to a tremendous amount of fear and mental agony. I am sure you are aware of the fact that in situation like this India bulls should approach the honorable courts to legally recover money and obtain the necessary court directions for recovery of the payment due. Instead of collecting money legally and following the guidelines for recovery laid down by the Reserve bank of India, India bulls have resorted to illegal ways to recover money which is totally against the law. Hence I would kindly request your good self to please take appropriate action against the said collection agents of India Bulls and save me from them. In the current situation if anything happens to me or my family members even accidentally I hold India bulls totally responsible for the same.
Thanking You
Yours faithfully
For Value IT Solutions Pvt Ltd
B.Satish (9742855599)
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