[Resolved]  Fullerton India — bank loan

From,
P. Vijay kumar,
No.C-39, Adithya Apartment,
Muduchur road,
Tambaram west, Chennai-600045.
To,
The Banking ombudsmal,
RBI, Chennai
Dear Sir,
I wish to bring to your kind attention that I had taken a loan of Rs.21653.00 (Twenty one thousand six hundred fifty three only) from fullertone India credit company ltd (A NBFC) tambaram branch on 26 march 2008 repayable at the rate of Rs.1650 pm for a period of 24 months (1650 X 24=39600.00). The loan A/C no. [protected]. The EMI Promised by the financial company at the time of issuing the loan Rs.1450.00. This by itself was a breach of promise.
They never issued me a loan sanction letter, which by itself is deceit full in nature.
After paying eight installments I found the intrest too heavy some a burden to carry and spoke to the authorities concerned in the NBFC. A compromise formula was worked out, where I was asked to Pay Rs.10000.00 (Ten thousand only) as a full and final settlement. This I obliged through a payment of cash for Rs.10000.00 made on the 26th of December 2008.
The very fact that they had a accepted Rs.10000.00 even while the EMI was on very clearly implies that they had come for a settlement.
When I asked for a settlement latter, they were not willing to give it. All they did was to write the words closure in the receipt that they gave to me for Rs.10000.00.
From the very next day onwards they started harassing me in private and in public during odd hours and during office house by threatening me and my family with dire consequences if I do not repay back alleged the balance immediately.
I spoke to a person by name MR. MUKUND in their office and he promised me that the 5 cheques that I had given to them would be returned with in 40 days.
Till date I have neither received the settlement letter nor the 5 cheques that I had issued them. The hounding, the harassment and the abuse takes place on a daily basis even now.
Because of the abuse in public I have lost all respect in society.
The mental torture that they give and the physical threatening posture of theirs is driving me any my family towards insanity and suicide.
I earn a monthly salary of Rs.6000.00 only and I have a wife and two small kids to feed and the depth of our despair cannot me measured in physical terms.
I have no one but you to retrieve me from this depth of despair.
I request you to intervene immediately and ask the NBFC to stop the harassment and also to issue me an account closure letter at the earliest.
Thank you
Yours faithfully
Enclosed:
1, The receipt for the first instalment paid in cash at fullerton India credit company ltd tambaram
2, The bank statement relateing to ECS paid
3, The receipt for Rs.10000.00 paid by me as settlement