I have taken Home Loan of Rs. 40, 00000/- from GE Wizard. My Loan account No. is GDWL00000612. Date of disbursement was 07/01. I would like to lodge a formal complaint against GE Wizard as represented by Dwarka branch principal Mr. Harish Bhutani for making false promises. I had been promised some benefits in the form of a commitment letter to compliment my loan agreement.
The condition on which I had agreed to take this loan from GE Wizard were negotiated with Mr. Bhutani and had been signed by him at the point of mutual discussion/ negotiation on hand written rough note sheet (which I possess to support my claim). When I insisted for a formal letter to include the conditions agreed upon I was told that this letter would be handed over at the time of disbursal as is the normal practice and for which he confirmed that he had already taken the approval from the concerned authority. The points which were agreed upon mutually are listed below:
1. Loan Processing fee of Rs. 5618/- shall be refunded 15-20 days after settlement.
2. No other charges to be charged during the tenure of loan except ECS dishonoring due to no balance.
3. Interest rate shall always be not higher than offered to new customers.
4. In case of prepayment of complete outstanding no penalty shall be charged.
5. In case of transfer of loan to another bank, only 1% penalty shall be charged.
First point has been honored, only after constant follow-up and hundreds of phone calls. The processing fee of Rs. 5618 has been reimbursed by Mr. Bhutani. The rest of the points await endorsement. Also first EMI was deducted on the date of disbursement itself which is not understandable. This should be refunded with interest.
Besides not delivering the promised commitment letter, there has also been total unprofessional and callous attitude shown by Mr. Harish Bhutani during the servicing of my loan which does not reflect favorably on the orgination, proving the institution an ill reputation. Before disbursement I would promptly get missed calls back from Mr. Bhutani. But after disbursement he started ignoring my phone calls. I had to phone call him from unknown numbers to confirm this. I had great difficulty in contacting him. Whenever I was able to make contact, he would promise the delivery of the said commitment letter but never delivered. I have visited the Branch office several times, but could never trace him. Infact most of the time the office was closed. Once when I visited his branch office late evening, I was shocked to find his employee consuming liquor in the office with his friends. The room was full of cigarette smoke making it look more like a bar than an office.
Mr Bhutani neither refused to deliver the commitment nor he fulfilled his promise thereby lingering me for such a long time. After facing frustration for almost 11 months, I took up the matter directly to GE, Wizard. I sent an email explaining my grievance on 12/12/08 which was confirmed registered by their official email confirmation from Customer services email address. I had a further tenure of taking up the matter with the Customer Services individuals Mr. Amit Kukreti ([email protected]), Ms Neha Wangneo ([email protected]), Mr. Surya Narayana ([email protected]). My grievance and complaint was rejected per the email from AVP-Customer care ([email protected]) dated 19/02/09, claiming that the only governing document for my loan account is loan agreement.
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