[Resolved]  ICICI Bank — Voilation of the Banink Process

Reference: 1. SR59444147 dated 14th March 2008 with ICICI Bank

2. SR69625485 dated 12th June 2008 with ICICI Bank

3. LBDEL[protected] (Primary Home Loan - ICICI Bank)

4. LBNOD[protected] (Top-up Loan - ICICI Bank)


Dear Sir,


This refers to all above reference. I am following this issue from last October 2007 (10months up to date).


Please find below the event logs (some proofs I am enclosing in attached PDF file as records of communications):


1. I have been issue this loan with following checks on 7th March 2007:

S. No
Check No.
Date
In Favor of
Amount

(Rs.)
Remarks

1
040945
7th March 2007
ICICI LOMBARD
51, 127
Home Loan

2
040943
7th March 2007
Vinod Maheshwari
343, 986

3
040944
7th March 2007
Khemchand
941, 731

4
040942
7th March 2007
LBDEL[protected]
658, 284

5
041018
10th March 2007
Vinod Maheshwari
656, 000
Top-up Loan

6
041017
10th March 2007
ICICI LOMBARD
17, 252



Home Loan Interest Rate was 11.0%


2. Due to hike in PLR or CLR ICICI Bank has increased my interest rate to 12.0%.


3. Due RBI has reduced the PLR and CLR and ICICI Bank has not reduced my Home Loan Interest rate, I thought to transfer this loan from some other bank regarding the same I contacted to Mr. KhemChand in October 2007 for providing me his loan closing statements. So I can show that letter to other bank and I could get low Interest rate loan.


4. That time I came to know that Mr. Khemchand (Sellar) was paying the EMI on his home and top-up both loans. Then I and Mr. Khemchand have contacted to bank, we met Mr. Vikas Chowdhary (Area Operation Manger) regarding this issue.


5. As Per Mr. Vikas, Bank was not able to close Mr. Khemachand’s home loan account as they have forgotten to deduct the his top up loan money from My new Home Loan amount. Due to this reason the property papers was not transferred to my home loan account. I have shocked as legally I am the owner of that property and as per bank I have no roll on property I am just paying the EMI for nothing.


I have discussed the same many times with Mr. Vikas, but I did not get any proper response from his side and the situation of the issue still same for me.


Mr. Khemchand has to pay EMI for 5 years, as remaining period for his top-up loan. Till that I can not sell or transfer my property to any body.

As per Indian law I am the owner of the property and bank is not showing the same then why I am paying the EMI.



6. Finally I requested to Mr. Vikas Chwdhary in March 2008 that please let me know if I can get benefit for reduce Home Loan Interest Rate. Then he facilitate me by reducing the interest rate to 10.5% from 12.0% on my primary loan by paying 0.5% principal amount of my primary loan.


As per ICICI Bank I would not able to avail the facility of interest rate reduction on my top-up loan due to it is top-up loan it is not a home loan. So my top-up loan interest rate was 12.0% only.


7. Parallel I also lodge official compliant for my issue as my property papers has not been transferred to my account on 14th March 2008. (SR[protected]


8. I am following this issue at every level with ICICI Bank, till date ICICI Bank is not able to resolve this issue.


As above sequence of event, I would like to know that why bank has not resolving my issue?


Being Customer I am harassed by both sides as I can not transfer my loan to different bank as my paper is not transferred to my account and also I am paying the Interest rate and also paying the high interest rate as 12.00% where else other banks are offering around 10.00%.


I feel fully cheated by bank in both ways. In such scenarios should I should have taken legal help.


You requested to take necessary action on priority as I am being harassed by bank.



Thanks & Regards,

Vinod Maheshwari

+91-[protected]