I have taken a loan of Rs2.50 cr from india bulls in november. This was a takeover from reliance consumer finance and a top up. The base loan was disbursed on 22/11 and the file number is HECHNT1110027.Among the conditions an escrow account was to be opened in HDFC Bank. However the indiabulls personnel assured me that this would not be required and that the loan EMI s would be debited from my standard chartered account. However after the documents arrived from Reliance and the balance amount was to be disbuursed they did a Volteface and said the escorw is manadatory and held back Rs2 lacs of the loan amount pending opening of the escrow. This was for no apparent fault of mine. The escrow was to be opened in 6 working days but this process has taken more than 25 days and i did not get even a single phone call from indiabulls as to why the delay nor was I informed when this would happen. I am still waiting for my balance disbursement.
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