[Resolved]  Kotak Mahindra Prime Ltd — REPOSSESSION OF CAR

Address:

Thane, Maharashtra

Mr. Ganesh Atmaram Pagar.
G - 4, Girijatmaj, J P Thakur Road,
Bhayandar West , Dist Thane

Namasakar!!
I am Ganesh Pagar, residing at Bhayandar, Dist Thane, Maharashtra . I have availed a car loan from Kotak Mahindra Prime Ltd. Santacruz , Mumbai Branch. My car loan account is CF 4903090 (Oct. 2008) and also have a personal loan, account is CF 5540488 (Dec 2009). I am a small entreprenuer, having a small unil of sewing thread which is fall in Small Scale Industries. In the month of October 2009, I took some wrong financial decision regarding the expansion for the business but because of that I got huge loss in my business, for which I found in financial critism.
But in fact of that I was paying my dues of both the loan regularly. Due to financially loss in business, my sales and income have reduced. I could not pay the monthly installment for three month from Sept. 2010. In this period I applied in the bank for the merger of the both the loan and increament of tenure which was become easy for me to repaying both the loan regularly, but they refused to do the same. Finally in the third month November 12, 2010 they called me to visit in the Santacruz office for consulting about the loan with the officer.They said to bring the car for checking purpose. On November 14, 2010 I visited to Santacruz Office,that time they took vehicle's key from me and after that refused to return it back. After 45 days on 28th December, 2010 I had paid all pending dues Rs. 90 thousand (ecs amt., parking charges, late fees, interest and other charges) and I got my vehicle back.
Between that period in my business there are not any significant changes, that was going as on. For paying ECS regularly , I joined my car to a private travell company on 13 Jan 11. I thought I will got some income from the car and I will pay the ECS regularly. That travell company issues there cheques after three month from joining. In that period I faced extra burden of expences of LPG gas, driver salary etc. and also paying ecs regularly till March 2011. In April I could not able to pay that month ecs on time. I got first cheque of that travell co. on 22nd April, 2011 (for the first month) On 27th April, I send both the cheque by professional courier to Santacruz office. About all the above matter I talked with Mr. Nadim, one of the KMPL Officer.
on 28th, just next day in the afternoon, when my driver was returning from shirdi trip, the people (not people they are goondas) who was waiting in the building compound just took the key and car from him by giving dhamkis. Just before one day I talked to Mr. Nadim that now I sening April ecs and I will send upcoming month ecs in next 2-3 days. He also not infomed me about there fielding and planning.
The other KMPL's recovery man came in my house and told me that go to the Bank's office and pay your one month installment , they will release your vehicle on the spot. On same day, I personally visited and talked with senior officer Mr. Santosh Shetty that I am ready to pay the pending dues and promised to pay the ecs in first week of every month , also offered the PDC cheques, But they refused my request and asked for the fore closer of both the loan otherwise vehicle will be sold and returned the cheques which I send it by courier. The forecloser amout is more than 3.80 lac which I could not able to pay any how.
I have lot of tension in my personal life and business also. Now these people are harrassing me for forecloser in such a bad way. If any person wish to make regular repayment then why these people are harrasing him and try to make him a defaulter in CIBIL record . WHY? I had made a big mistake that I took the car loan from KOTAK MAHINDRA PRIME LTD. I think the bank is recruited the uneducated people who does not have any sense and manner.
Sir, please guide me what should I have to do?


Thanking You,

Ganesh Pagar
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