| Address: | INDIAN BANK PARK TOWN |
| Website: | www.indianbank.in |
Sub: Criminal auction procedures after torture of my husband causing his death during COVID 19.
I wish to humbly introduce myself as a Class 1 Gazetted officer in India at Queen Mary’s government college (Professor). I proceeded on leave to Saudi with permission from the Tamilnadu government.
I have been a reputed customer of Indian bank since 2001. Indian bank has been my banking friend during my need of the hours for educational and housing loans.
The sad state of the corona epidemic lead to my inability to transfer my job to another govt. University due to closure of govt. appointments by the Saudi govt. Due to these reasons my family has become dumb struck and I was unable to honor EMIs for my loans from April 2022. Though I opted for Moratorium of one year from April 2021, the bank stated that my accounts have slipped to NPA on March 9th 2022 and got signatures from my legal heir children under Sarfasi to auction my property on June 9th 2022. This holds good only for my Thirumullaivoyal property that too only for 50% share since my husband was my joint owner of the property.
Due to EMI default from April 2022, my properties are on the verge of auction. However, we managed to find two buyers for our properties. But due to balance outstanding of 1.43 crores including penal interest due to slipping of accounts to NPA, I am not able to sell both my properties at the same time due to same CIF and MOD for educational loans. The Indian bank has refused to release my properties one by one for sale.
Also my educational loans' EMI has not started since my children are still studying Neurosurgery and Medicine. The balance outstanding is only 20 plus 50 lakhs on my housing properties according to online balance certificate on June 1st 2022.
Now my son has taken a break from his Medical studies in Mauritius due to non-availability of final year tuition fee loan of 6.5 lakhs on account of non-honoring EMIs from April 2022 in your bank. He has to pay an additional fee of 5 lakhs INR for dropping one semester. The Indian bank has refused to release his educational loan though EMIs have been paid till March 2022 on Moratorium basis and cash payments up to April 2021 on house sales.
My daughter has to study MCh. Neurosurgery for which she has to pay 10 lakhs to MP government for non-honoring of one year bond after her MS General Surgery degree from People’s University, Bhopal in July 2021. It was not her fault but the fault of the MP government non allocation of bond serving hospital duties to all her classmates during to her during July 2021. She has obtained a First class and an All India first rank award for her research paper presentation in a renowned All India surgical conference last year held in Bhopal. For all this I am indeed indebted to all your CMs of Park town branch and Zonal and Circle office who sanctioned a loan of 21 lakhs for my daughter Dr. Sakthi Sachithananthan in 2018 December.
My banking experience with Indian bank was superb so to say and I did not feel any burden of paying around more than 1 crore interest from 2001 till date. I have availed four housing loans, one land loan, three educational loans and a home plus loan. I have made four loan foreclosures in 2008, 2009, 2020 and 2021 (during covid also).
Now I requested time till October 30th to start repayment of my EMIs to the bank for my loans since I will be starting my govt University job on Sep 15th due to closure of recruitments during covid 19. But the Indian bank wants to auction my property immediately after 30th June for non upgradation of NPA with a payment of 23.5 lakhs,
Is this the way for a nationalized bank to behave with a 20-year-old NRI client for not being able to pay EMIs from April 2022, during COVID 19. Is it humane for having used and thrown a customer after extracting one crore by way of interest from 2000.
I warn the bank severely that if they auction my property during corona period, after receiving 55 lakhs of payment during corona from Sep 2019 till date, I shall file a criminal writ petition for inhuman behaviour of the bank for having killed my husband by mental torture in Jan 2022, who was the co-borrower of all my loans and very cleverly avoiding his name in my insurance papers.
Also, since my Kannadasan Nagar property is owned by me, the bank does not have the legal right to auction my property based on legal heirships of my husband and their signature on Sarfasi document does not grant the rights for auction. I have not signed any Sarfasi document so far though I hold 100% ownership rights of my Kannadasan nagar property and 50% rights of my Thirumullaivoyal flat. So both my properties cannot be auctioned legally without my signature and that also being COVID 19 with only 2 months non payment of EMI from April 2022. It would be the heights of stupidity and illegality to auction 50% of my Thirumullaivoyal flat based on legal heirship, that too I being one of the legal heirs.
Please warn the bank that without clients the bank will go for a financial crisis and employees will lose their jobs so that they don't laugh at non defaulter customers who have defaulted only by two months during COVID 19.
The whole world is undergoing a financial crisis and after receiving 55 lakhs from me from Sep 2019 till date, the bank has been cruel enough not only to kill my husband by mental torture, but also planned to seize my properties from my innocent children during my absence. My action henceforth will be violent towards the bank through a criminal writ petition and will see that the employees who have taken inhuman decisions will stand termination of their jobs without accrued financial benefits whatsoever.
I request a ratification letter from the Indian bank immediately to my email [protected]@yahoo.com cancelling the auction notice and providing time till end of Oct 2022 to start EMI payments without accrued NPA interest and release educational loan to my son S. Heramba Vigneshwar for continuing his medical studies in Mauritius without payment of margin amount within 2 days time from the date of this complaint made by me.
People are dying and financial institutions are hoarding. Who is answerable?
Awaiting your early reply and Humane consideration.
Yours faithfully,
Dr. Vedavalli Sachithananthan
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