[Resolved]  Sriram Finance — They are asking not to close the account but to pay emi

Address:

Madurai, Tamil Nadu

Hi

I am Rajesh. I brought Yamaha bike in my father's name,Rajamnickam on Dec 2010 by availing the loan from Sriram Finance. I agreed to pay in EMI. They informed that I can close my loan any time by re-paying the balance loan amount only and they got 10 cheques from us. In 10 Cheques, 9 cheques are filled one and the 10th one is blank cheque for the security purpose they said. After paying for 9 months, me and my father decided to close the loan by re-paying the whole amount. We asked about the invoices that we have paid and the balance loan amount to close the account. We didnt get any response from them for 3 months. Then we have send the written mail the Sriram higher officals regarding this. We have still depositing EMI amount into the our account. Before 2 weeks, they came and we asked the blank cheque and asked to return while closing the loan account. But they said to pay the EMI in there office every month and not to close the loan account. Very next day, they came to my house and informed us that still 3 month due is not yet paid so we cheesing the bike. Now they are asking us to pay the late payment charges plus the bike cheesing charges.

What we have to do now?

My father is going to file a case against them. When they are making the delay how can we pay for that.