Axis Bank Home Loan
Unauthorized Disbursement of Home Loan

Hi, I am Parthasarathy from Hyderabad. I availed a home loan from UTI Bank for purchase of a flat at Seethaphalmandi in Sept for INR 13.50 Lacs, thru' its DSA, Faizal Ahmed of SPANCO Marketing. The bank has unauthorizedly released the 3rd installment without any intimation to me, in connivance with my builder and DSA, in Feb to the tune of Rs. 2.85 lacs. For the past 5 years, I am making repeated reminders and requests to the bank to address this issue, as there exist involvement of bank staff, DSA and Builder. Bank is not ready to even accept the letter of representation and the worst is their customer care. Branch Manager do not wish to meet the customer and address the grievance instead they call and threaten, making allegations on the EMI payments. I am making a request to provide me a scan copy of the loan disbursement requests but in vain and do not know, what to do. They are simply saying that, you have signed the application which contains the terms and conditions; hence, cannot deny or delay an EMI and this act of the bank staff or DSA doesn't fall into their responsibility. Any inputs / suggestions from experts, as this has become a nigthmare for me as the builder is still not handed over me the "construction completion and handing over certificate" since, he got all his money from the bank directly.

Company: Axis Bank Home Loan
Country: India

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