Magma Finance Company
Extending Car Loans without checking antecedents of customers

Sir

Magma Finance Company with its HQ at Kolkata and its local office at Savitri Complex Dholewal GT Road Ludhiana has extended car loan to one Mr Lachman Sharma by showing his address as H No 213 Dugri Dhandra Road Ludhiana. But this House belongs to me and I had purchased it from him in Dec. He is still using that address for his financial dealings. I came to know about this when Magma Ludhiana representative came to our house to enquire and deliver the letter. This house does not belong to him. How can he use my premises to obtain loan? Magma has failed to confirm antecedents of the customer before extending car loan. What is the fun of doing it after sanctioning of loan? Is it indulging in unscrupulous practice just to increase its business? Kindly look into the matter and Tell Magma office bearers to cancel the loan. My Phone calls and emails to Ludhiana and Kolkata respectively have bore no fruits.

Company: Magma Finance Company
Country: India
State: Punjab
City: Ludhiana

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