[Resolved]  DHFL — FALSE Commitment and respond customer without verifying transaction type

Address:

Maharashtra

Name – Yogesh S Utekar
Loan Account No- 1091
Cust Code[protected]
Appl. No.[protected]
I had applied for a loan for Flat in Kamothe (Panvel) from DHFL Vashi Branch in Nov2011, and I have provided relevant documents for the same and loan got sanctioned with stipulated time given. I appreciate such service provided by your organization which makes my dream fulfill but along with this i also experience dark side of your organization. (Bitter experience)

At the time of initial discussion with the DHFL representative (Authorized partner) MR. Bharat Gadade. I have asked him to reduction in interest rate and processing fees. He respond that he cannot give waiver (exemption) on processing and interest rate both as policy can offer any of the one either processing fee or interest rate…. Now choice is yours.

So I had asked him to provide me 11.50 %to 11 % interest rate instead of 1% processing fee, keeping in mind long run perspective benefit and he agreed on the same and I paid entire processing fee (INR - 23058/-).
After paid entire processing fees I have got sanction letter with Interest rate 11.50% (not as per promised) and amount (INR -2030000/-) which is lesser than what I have applied. I haven’t received any call from your side as lesser amount has been sanctioned whether we can proceed or not. Secondly when I got sanctioned letter I immediately noticed him (Bharat) about mentioned interest rate and lesser amount sanctioned as i can not satisfy the seller party with this amount. So he promised me that at the time of disbursement I will take care of both aspect and issue fresh sanction letter and you would be getting entire amount what you applied earlier (INR -22,00,000) with interest rate 11%.

Unfortunately both the commitment was failed at the time of disbursement. I neither received extra loan amount and interest rate reduction.

Frustration not over yet as at time of disbursement I have got call dated 30 nov 2011 @ 6.20Pm (MR. Bala) regarding disbursement cheque is ready at Vashi branch he suggested me to come and collect your cheque today (once fulfill condition – Stamp Paper -4500, Abhyudaya bank personal Loan closer statement, Co Applicant presence and so on…..). Otherwise you would be liable to pay interest for next entire month. So I asked him to give one day time to collect or fulfill your requirement. but he told me that he helpless in this case. You can co ordinate with Bharat. So I immediately contacted Bharat and explain the same but he also helpless so I annoyed on him and seek for his manager No. I had contacted to
MR Rajesh Singh (Vashi – Unit Head) and describe him whole scenario and he promise me to he will take appropriate action on Bharat. Later I have got call from Bala on 30th Nov2011 @ 10 PM as what to do with your file. I asked him is there any way out to avoid interest Loss, so he advice me to come tomorrow along with required document in first half and meanwhile I will process today dated 30th Nov cause month ending. I said Ok and he also agreed on the 30th Nov @ 10 pm (night).

Next day when I approached Bala 1st Dec about disbursement and cheque to be received, he told me that your file has not been processed yesterday as instructed by Mr. Rajesh Singh. I personally visited to Vashi branch to meet Branch head..I had called to Rajesh from Vashi Branch as he was not at office and asked him the reason for the not processed yesterday and about Bharat false commitments. I plead him that at least gives me relief from unnecessary interest going to be charged. He suggest me that you can start your EMI for this 10th of DEC which avoid your interest loss and asked me to meet to MR- Vishal Bhosale for further Queries as he (Rajesh) is busy in meeting. I gave all download to Vishal what wrong happened to me since last few days. He told me that I had word with Mr Rajesh and we will start your EMI from this month (10th dec) to avoid interest subject to your formalities should completed before 03rd Dec 2011 and I return back to home.

I again went on 3rd Dec along with co applicant duly all required documents as instructed by Mr. Vishal dated 1st dec 2011. I called Bala on 3rd Dec that I have reached at office to complete the formalities but he was on leave and suggest me to meet Jayshree at office. While he has also told me on the call that you are not eligible for 10th dec EMI and cannot avoid your interest loss as you have another transaction type i.e Seller bt. I told bala that Vishal Bhosle given me approval after consultation with Rajesh Singh and they must have know my transaction type as they would have verified and then only confirmed me. Without verifying they cannot give such kind of approval. Please check with them. Then Bala taken on conference call with Vishal and that time Vishal was clueless about my file status. Then I waited for a 2 hour at office to meet Rajesh to finalizing the things which went wrong. When I met Rajesh I told him that as per earlier communication EMI supposed to be cut from current month to avoid INTREST loss however now he is also helpless as he also unaware of Transaction type (Seller BT).and interest for the month will be charged to you.

AND I SUFFER FOR INTREST LOSS APPROX – INR- 15000/-
(Amt – 10176/- chq No[protected] HDFC Bank +
Amt -5105/- Chq no[protected] HDFC Bank)

My Queries

• As per terms and condition Processing fee can be waive up only to 0.25 % of 1% and cannot fully waive off (1%) then why Bharat misguided me.

• Once sanction letter issued, why Bharat has promised me about Interest rate reduction 11.50 %to 11%. and increase in loan amount. Is it possible to alter in sanction letter along with interest rate reduction and increased amount?

• Interest charge upto 15000/- for the entire month. Is I am responsible for the same. What is my mistake in such scenario.?

• To avoid interest I have expedited process however same is useless due to different transaction type (seller BT). This occurred due to non verified file and conveyed.


Please offer me right justice by taking action against false commitment. Please convey me action taken on the same. I would be highly obliged if I provide justice.

Now I can only request you please reimburse my interest amount loss and Interest rate 11% if possible. There is no way out for me whatever you offer I have to accept.

As we aware false commitment is like unfair business practice would also harmful for any organization.

Awaiting for your response.