Sub: Financial embezzlement by ICICI Bank
Dear Sir,
I take this opportunity to put it in writing that ICICI Bank has been harassing me from the past 18 months, for reasons best know to them.
I had taken a home Loan vide Ac No LBGUR 00001727899 for a sum of Rs 1.40 Crores. The same was approved in the month of Feb. Due to some reasons the deal between the parties was held up towards which I had given a letter stating that due to the delay in settling the deal my loan be deferred for some time.
Subsequently a letter stating that the deal was through and that the payment be released Mid April. The same was received and acknowledged by the ICICI relation Manager Ms Arshi of Sec 14 Branch, Gurgaon. Copy of which is available with me.
I was given the cheques for the loan amount on 8 Apr. And was made to understand that my EMI would fall due on 10 May 08 and prior to that would be required to pay Pre EMI interest and the same was also paid Which can be ascertained from my account. I had thereafter been paying my EMI`s very regularly, but to my surprise some time in May -June 08, I was informed by ICICI bank collecting agents that my EMI for the month of April is pending. This was a rude shock to me because I had got the loan disbursed in April and which as per all banking regulations would mean that the first EMI would be the subsequent month.
Thereafter I have made numerous telephonic calls and visited the Gurgaon Branch Home Loan division at least on 8-9 occasions and explaining the same to them but, till date I have not received a suitable answer, and every time an excuse that they would check the error and correct it and revert back to me. A poor state of affairs because no body ever responded back. Besides the above I have been harassed every 2nd day by the ICICI collecting agents with unnecessary threatening calls.
Unfortunately a customer is at the mercy of so called Call centre executives who can never give a reasonable response and personal visits to the bank prove unfruitful once again either the person dealing is unable to give an amicable reply or the simple excuse is our SYSTEMS ARE DOWN.
In view of the above I am now compelled to put it in writing with a copy to the Consumers Forum for a suitable correction.
From the conversations with the Bank staff I have learnt that the bank with connivance with some employees had done some kind of Outstanding Fund transfer on the date of approval of my loan without any intimation to me, whereas I had mentioned it in writing that the loan be disbursed only after my deal has been finalized with the client, towards which I was handed over the cheques on 08 Apr 08 and was told the balance of the loan disbursement amount would be adjusted against the Sellers outstanding Loan account which to the benefit of the bank was also availed from the same Bank.
Seeing all this it is very clear that how banks can manipulate and penalizes innocent customers of their hard earned money.
Notwithstanding the above I have given standing instructions for deduction of my EMI from my saving account, with ICICI Bank. Lately I realized that besides my monthly EMI the bank has been removing my savings fund at random towards the so called Out standing EMI. Unfortunately this month when I had deposited fund towards Nov EMI on the 7 Nov 09, ICICI bank a day prior to the Due date of EMI removed Rs 1.5 lakhs and on the due date sent me an SMS saying my Nov EMI has bounced due insufficient funds and also charged me return Charges.
It is my humble request that this matter be given some priority and the ambiguity of out standing EMI be resolved at an early date and all the money which has unnecessarily been debited to my account be credited.
V Malhotra
09899786224
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