Dear Forum Member,
I am writing this letter with a request of plea to address my concern. I had purchased a Kinetic Sym Flyte in the month of May from Om Enterprises with a down payment of Rs. 10000/- who financed the byk through ICICI Two wheeler loan through a another middle party called Roshan Finance. On 15th August the byk fell down due to a rickshaw dash and broke the front lamp with few scratches. The same was given to Om Enterprises for repair with a copy of NC details from local police station, my brother's driving license and insurance copy. I was told not to claim insurance for such a minor expense, it rather get a no insurance cost which is higher. I did not wish to spend money so I asked for the claim.
I did not hear from Om Enterprises on the repair of my byk. On calling I was told the replacement of the head light will take time as the part was taking time from Kinetic's end. Later I was told that Insurance is taking time, further I was told that Kinetic is taken over by Mahindra and parts were not available... this went on till Nov'08 . Tired and frustrated with such furious comments, I meanwhile stopped the EMI's and requested the ICICI personnel to voluntary surrender of byk as the entire fiasco was looking a bit fraudulent. I was not sure if I get my byk with original parts or if they were tampered with. On 29th Nov' 08 I handed over my new Kinetic Sym Flyte to representatives of Yash Enterprises after bringing the same to my residence on the same day on speaking to ICICI representative Mr. Manish from Collections dept. (9820754337) who so plainly blamed Om Enterprises then. I had also expressed a choice of a second owner for my byk.
The details of my byk is as follows on the day of surrender;
Agreement No: LTMUM00013578738
Vehicle No: MH 03 AP 9436
Engine No: 09333
Mileage / KMs run: 00536
Month of Purchase: May
I write this mail to you as I did not hear from ICICI Bank untill today when I called up Mr. Manish to check how come without intimation did they sold my byk for Rs.10000/-. I received a letter dropped at my residence by Indian Post on 4th Feb 09 (I check my letters every saturday / sunday as I have long working hours on weekdays) stating that due to the defaults of non payment ICICI have sold the asset for Rs. 10, 000/- and outstanding worth Rs. 31183/- to be borne by me. The letter states ICICI will present cheques given by me (PDC) to my Bank - Saving A/c and I should ensure that the same does not bounce or else I shall be charged with criminal legal actions for breach of trust and a suit will be filed to recover the ammount.
On calling ICICI representatives I am treated the similar way I was treated the time of my byk repair... pushed from one person to another and one dept. to another... What calculations have they drawn to reevaluate the asset and why no intimation of auction given to me... no one answers... replies are I am not from this dept. please go to this branch and that counter.
I almost have paid Rs. 16000/- to the Bank and on travel expenses which is a loss... I have no clue when and on what basis was my brand new byk being sold for Rs.10000/- and no document collected from me on surrender stated that I will have to pay the difference... I was not informed about the sale... The clause states that ICICI reserves right to either sell, rent or otherwise deal with the asset to recover cost.. difference to be borne by me is not stated.
I need help as I feel cheated in this entire scenario. I use my byk for 3 months, pay 16000/-, run around for 5-6 months, answer representatives, on surrender I am asked to pay Rs. 31183/- because someone choose to sell my byk for 10000/- with no clue or communication to me ..I am amazed that this can be the evaluation drawn for a 536 kms run byk... what's the proof of evaluation no one talks about it...
Kindly intervene and help me understand what steps do I take to close this fiasco. I am sick and tired of running around finding answers.
Ashwini Bhoir
Mumbai
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