Kotak Mahindra Prime Ltd
ECS

Hi,

This is regarding Car Loan account no. CF6184814 which I have taken from KMPL, laxmi Nagar Branch, Delhi.

I am sorry to say but they took more then 6 month to process my file (instead they should have told me that my loan can not be processed).

After loan got approved with so many hiccups (in July I took the delivery of the vehicle)... now come the other problems.

I have opted for ECS and gave my mandate from HDFC bank duely signed and stamped by HDFC Bank (3 copies). Right the month (August) my first ECS was returned from the HDFC Bank saying "No such account" (this is what conveyed by the KMPL). I gave the cheque of the same HDFC Bank and it got passed with the same account which I mentioned in ECS mandate form. I requested KMPL to re-validate the mandate by getting it again authorised by the HDFC Bank. but till now I am paying by cheques only and getting a letter from KMPL saying that since my ECS are getting bounced so I have to a penalty. Every month they come and collect the cheque and make promises to resolve the problem.

They also asked to hand over all the cheques or open an account with KMBL. Is this the KOTAK's policy to get more account win???

Please resolve this ASAP to let live me in peace of mind.

Regards

Nirat Kuma

Company: Kotak Mahindra Prime Ltd
Country: India
State: Uttar Pradesh
City: Gautam Buddha Nagar

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