Cholamandlam DBS (Personal Loan)
XSEGDEL00000081820

To Whom It May Concern

This in regards to a personal loan (A/C # : XSEGDEL00000081820) which I erroneously attained from Cholamandalam DBS, as I had no clue that I was dealing with the bank who was financial weak and no business ethics.

Below is what your bank is upto and gods knows how many have been victimized like me so far and how many more to go.

I “ Ramesh Chander Madaan” foreclosed my loan on 13th Mar 08 at one of your collection bank’s branch located in Delhi (PUSA ROAD) with a sum of Rs 88756 (Including prepayment charges), Receipt number : 377009 by Cheque number : 342726, Bank’s name: Union Bank of India

Now, after getting the receipt and assurance from your bank staff, ideally the account gets closed and one can get the sigh of relief from the EMIs. However, since the loan was taken from CHOLAMANDALAM, I had to abide the penalty and that is what I am going through with.

For next 5 months everything was going fine but suddenly on 6th Sep 08 I got to know that an ECS was presented to my account on 5th Sep 08 from Cholamandlam bank which got bounced due to insufficient balance. Apparently, I was not required to have that much amount in my account. Not only this, on 20th Sep 08 your bank represented the ECS to my account and stole Rs 3097 without any intimation.

Since, then on 5th of every month Cholamandalam’s ECS hits to my account and Rs3097 gets debited and if in case your bank does not find sufficient amount to steal then I start getting threatening calls from your tele-callers.

In the month of September and October I had 3 other banks ECS to hit my account on 5th, but just because your bank had already stolen the required amount my others 3 EMIs got bounced for which I am sure your bank is least bothered.

I have no doubt that your bank is incurring huge losses but still I would suggest there are better and quicker options available to cheat people instead of banking.

I strongly believe that your bank has done a fraud by taking Rs 88756 as foreclosure amount and your bank staff has used that amount for their personal betterment.

Thanks,

Ramesh Chander Madaan

“One of the Victims of your bank”.

Company: Cholamandlam DBS (Personal Loan)
Country: India

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