Bajaj Finserv — bajaj finserv is indulging in fraudulent and unethical financial practices

Address:

Thane, Maharashtra, 421202

Sir,

It is my great mistake that i have committed and taken a consumer item loan from your bajaj finserve for purchase of samsang galaxy tax a, from m/s. Savex technlogies pvt. Ltd, chennai on 16/11/2018 with the finance from your bajaj finserve. It was deceided to repay the cost of rs.29, 990/- to you in six emi of rs. 4, 990/- monthly instalments.

I also made it clear with you to kindly effect the emi repayment of rs.4, 990/- from my savings bank account of kotak mahindra bank a/c. No. [protected] on your due date of every month on 2nd. I also kept sufficient balance in my account so as to regular repayment can be effected to you. For this purpose please refer your email sent to me on tue. Nov.20, 2018 at 1.41 am. As per the instructions given by you i complied all the formalities as per the email directions and necessary documents were sent to you on the address given by you as under:- lob swapping team, bajaj finance limited, t. C. S., electronic sadan no.3, bhosari midc, near philips & bhosari police station, pune nasik phata, pune - 411026 on 20/11/2018 alongwith all the necessary documents. All the documents were sent by me by speed post a/d. Vide speed post receipt no. Em[protected]in. The same correspondence was received by your lbo swapping team on 26/11/2018. I have your signed acknowledgement. But you failed to neglect my reply to your email dated 20/11/2018. You did not take efforts to effect direct debit from my above stated s. B. Account of kotak mahindra bank on your due date on 2nd december, 2018 the first emi. On the contrary you deliberately avoided to effect direct debit and imposed me overdue payment with exhorbitant penalty. When the 2nd emi was due on january, 2nd 2019. You intentionally avoided to direct debit from my account and deliberately effected again exhorbitant overdue payment. That also i paid.

But in between you sent me sms and statating the a new direct debit / ecs (Debit clearing) mandate form be submitted with the signature of the officer of kotak mahindra bank. Moreover, i also instructed my bank in writing to effect direct debit to bajaj finserve on or before 2nd of every month till the 2nd may, 2019 (Final emi). The letter and direct debit / ecs (Debit clearing) mandate form duly signed by me and bank officer was sent to you via professioal courier vide dbl no.[protected] dated 09/01/2019. The same has been delivered to you on 11/01/2019. So i thought it will be sufficient for you to effect the payment through direct debit from my kotak mahindra bank savings bank account. But unfortunately you ignore and overlook the 2nd communication regarding direct debit on due due date i. E. 2nd february, 2019. But again you intentionally and deliberately did not effect the emi of january, 2019 and again exhorbitant penalty was imposed on me. That i had paid rs.5, 507.00 in place of rs. 4, 990.00. This dishonest, improper, fraudlent and unethical practices you are applying to rob the borrowers of bajaj finserve. It proves that your bajaj finserve is just looting its borrowers. This is a sorry state of affair on your so called reputed financial institute.

After the sanction of loan no.577ecf94600926 to me, you used to send me frequent smss to convert the loan from 6 monthly emi to 36 emis with lower amount of emi. But i did not opted your suggestions sent by sms’s. I wanted to make myself free in just 6 emis. If i would have been opted the 36 emi system, you could be robbing me every emi would be overdued and lot of money you wanted to grab from me as a penalty. I am just fade up and tortured by your loot system of recovering exhorbitant money by way of overdue payment.

I am seriously thinking, if you do not effect the further february, march and april, 2019 by direct debit from my savings bank account, in that case i will not pay any money to you of your future and further emi’s. Otherwise give me a single option to re-pay your all the remaining emi’s at once, and make me free from your clutches of robbing and looting. This is my last communication with you. If you do not do neeedful as per honest way, then i will not repay you any money in the form of emi’s.

I am very clear and transperant from my side, i have lot of documentary evidences against your malpractices. If you tomorrow sue me in the court of law. At the same time you also handed me lot of documentary evidences to prove your guilt in the court of law.

I am by profession a legal consultant and also journalist. I am going to publish this communication on the web portal of consumer protection. I have every hope you will take a serious note of this communication made to you and that to final.

There are so many borrowers of bajaj finserve have published their bad experiences in the web portal of consumer protection.

I wait for 4 days, reply of this communication from your end. Otherwise i will take suitable action in the court of law. Also publish the same communication on the web portal of the consumer protection. Not only this, i will use my horrible experience on my youtube channel also to expose your malpractices and make aware the public in general to alarm from borrowing from bajaj finserve. Please treat this as feedback from the borrower and make improvement in the robbing type of modus operendi.

Thanking you,

Yours sincerely.

(Manohar ingle)