Facts
In June I applied for a Home Loan and was granted and disbursed a loan of INR 30 Lakh for which I am paying the instalments from 1 July.
During the processing of home loan the representative, Mr Shashank asked me to sign several agreements. Later an ICICI lombard Insurance executive came to my house with Mr Shashank asking me to sign the ECS authorisation which I politely declined since my loan grant letter mentioned that I am given a complementary insurance cover with the home loan.
The executive from ICICI lombard did his best to sell the product stating it would cover critical illnesses but I was sure that I did not want to pay for a policy that I did not believe would suit my needs and situation.
After that he called me several times but I kept refusing to accept it and never authorised him to process the extra insurance cover for my home loan.
Issue
On 1 August I received a loan disbursement letter for INR 96000.
I called customer service to explain that I had never requested it and I was advised that it was a top up loan which was disbursed and EMI of INR 1085 would commence from August 08. I distinctly remember not requesting any insurance policy or agreeing to pay for it.
I have only authorised payment of EMI for my home loan of INR 32 Lakh and any amount debited from my Standard chartered account will be unauthorised and hence fraudulent.
Name of the agency and executive
Contact numbers of agency and executive Mr Shashank
Location of the agency Green Park ICICI branch
Date of Birth 5th June of 1976
Communication address with PIN code H.No. 230, Sector-7, R.K. Puram, New Delhi - 110022
Total Disputed loan amount INR 96000
Date of documents submitted: Did not submit any request to disburse this loan
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