Cholamandalam Complaints & Reviews

Dear Sir / Madam,

I had a loan with cholamandalam finance cochin office for vehicle no. KL05- AA 3135 and i was closed loan on 27.03.1, I have requested for closure statement but not received. Last 03 days got call from Chola Head office regarding EMI payment. I informed 02 to 03 person, that loan was closed but again they are called and asking for payment. I am working in private company and I cant allow this disturbance. I called Chola Cochin office and talked with Mr. Shyju, as per his information allocation done from Chennai only they can't do anything from their end. I asked his employee code but he disconnect the phone.

Kindly help me to stop their disturbance.
Baiju Joy
Thottakath House
Erumathala P.O
Pengattussery Aluva
[protected]

I have registered a claim with cholamandalam by 1st week of december to repair my windshield, but i was unable to take my car for service until feb because of vardha cyclone, our cm's demise and other personal health reasons, when i took my car for service the accessor from cholamandalam was not aware if i will be covered in insurance or not at the time when i left for service, he told me to get the car serviced and later he will follow up on the claim, but when the repair was completed the next day he cunningly called me to say my claim registration got expired and this particular service cannot be claimed. I am not sure if he is aware of the insurance act, 1938.
But i was well aware of this cunning behaviour of the accessor but as the amount was less than 10, 000 i just ignored the incident and learned a lesson not to ever associate or let any of my organisation members to go for cholamandalam at any cost.

Now with cholamandalam, i have not claimed a single penny against my insurance premium, on the renewal, i have to look for a better option but when i took the insurance with no-claim bonus, cholamandalam goofed to say i had a claim on my insurance.
Cholamandalam has availed a tax benefit on registering and concluding a fake claim which is legally not right. I am not sure how many of such fake claims cholomandalam is registering to avail tax benefits from the government.

Hence i need clarifications from whom so ever concerned from cholamandalam to let me how can you give a goofed up feedback on my claim status. Where us there was nil financial transactions involved or related to this claim.

Dear sir / madam,
i have taken home equity loan from cholamandalam co home equity no xohemai[protected]

as i want to repay my balance loan since end jan 17 i am telling them for my list of documents and foreclousure letter, then i wrote to them on 16/2/17 and on 25/2/17 and many personal visit but they were not giving at all

finally they gave on 27/3/17

sir in fore closure letter they have added 2% foreclosure charges rs 496510/ which is totally unauthorize and is against the rules of rbi guidelines dated 14/7/2014 vide rbi 2014-15/121 dn(pd)ccno 399/3.10.42/2014-15 and also vide circular dnbs (pd)cc no 80/0310.042/2005-06 dtd 28/9/2006 and pargraph 2(a) (iii)of master circular dnbs(pd).Cc.No.388/03.10.042/14-15dated july 1 2014

sir you have clearly mentioned that they cannot charge fore closure charges then also they are harresing us and they are charging foreclosure chages

sir my humble prayer that your kindself direct cholamandlm co not to charge foreclosure charges of rs 496510/ which is against the rule of your circulars

and give a fresh foreclosure letter without foreclosure charges

kind rgds to all

thanking you

yours truly

hasmukh a satra

My vehicle is covered by bumper to bumper (Nilldip) in your insurence company, recently i met with an accident and the total left side of my vehicle is damaged but the company agent said that the way of damage is miss matching thats why we wont give the for the total damage. Evev i have submited the police fir about the accident and how much the car is damaged, eventhough they are refused to give the insurence. The thig i cont understood is that the agent is deciding how theaccident happens and how much the damage occure, that is the worst thing here and they said the policefir is wrong.
Cholamandalam is the worst company i have seen ever

Cholamandalam complants redressal given message that not able to contact me by phone.today i received phone calls from usa delhi chennai and manyplaceses.it is highly un acceptable for giving this type of message to me.
i talked with tool free no and i was asked to go to the office to pay the dd.but manager says you have to pay till the day of closure.
is it my fault to pay the interest.
the company refused to give the preclosure statement and gave after 15 days
icrried money 1croreand 11 lakhs to the officebut reused,
was told to bring it to icici bank-iwent there-again not accepted-
after direction from toll freeno they want me to pay the interest till date for they delayed delayed still not interested in getting the loan amont back-drgchidambaranathan

Regarding refusal to accept the loan taken by me.
Dr.Chidambaranathan Orthosurgeon

Nov 24 (3 days ago)

to customercare
dear sir this is for your kind information thati have taken loan from you and paying very regularly every month.irequested the employes to make my payment by 20/25th of every month.no reply from your side.then subsequently started harassing me at my hospital site-shouting and diturbing my work during day time, and opening my house door and entering my house and in spite of telling it will be paid in48 hours they refused toleave my house.i subsequently called the person who arranged my loan and he begged them to go out.matter went to police.the agents gave aletter that will not do any harem again except the manager will contact.now i want to close the loan-gave a request.got repply after 15 days.talked ith the manager who asked me to comae to icici bank with one croe and eleven lakhs.manager not seen .only agents seen they refused to accept the cash and asked foe a blank cheue.i refused.returned back after escaping fron 4 biig body built persons over there.idonot know why i was called toicci bank with huge cash who they are.suspectingthis i contacted the manager icici told money can be put in chola account only if chola people signs.so i returned .my repeated calls said do any thing i will not accept the cash nor you will not get our documents.the collecion team and manager colluded together and and blindl refusing the the request to repay the loan.they made me to stand in front of the court. and summon sent by the court not accepted by the manager.mr sivaprakasam and one agent balakrishnan use totalk with un acceptable words during my working time and unnessasrily disturb my mind.my request you to accept the amount due up to the date i requested foe repaying and solve the problem and to give relife to my brain and there people who are not working in the interest of the company.and behaving like owner and thrr money being lent and ask there seniors to solve the problem
they should answer with what permission they entered my house opening the door
what made them to stay in my house for long time 'what made them to talk nonsence in my house
what made them to delaty the closure amount
why th manager told me to bring the amunt to icici than th chola office,
wh were the big guys noticing when i took th amount to the bank,
why manager talking to me to bring the amount to the bank and his presence is not there, refusal to accept the money brought by me
why a person naming from chola asked for blank cheque in addition to the amount, why not informing the higher offficers with whom i can talk.
who is this mr balakrishnan shouting at me over phone
if necessary action not taken i will have to go to necessary departments for furthue action.kindly pl take necessary action and close my loan.thanks
regards
dr g chidambaranathan ms, mch orth, dnb, dorth
managing director,
senior orthopaedic surgeon
nathan superspeciality hospital
advaitha ashram road swernapuri
salem
tamilnadu
[protected]@gmail.com

WITH REGARDS,

NATHAN SUPER SPECIALITY HOSPITAL

SALEM-16.

my loan account noXOHESLM[protected]
Dr.Chidambaranathan Orthosurgeon

10:12 PM (29 minutes ago)

to Customer
hope you have received the mail but you are not responding.is this the way you do bussiness.does murugappa family wants to earn like this.your legal papers say you will respond in 48 hours no responce..if your company is a good on working for public kindly respond.we will pay your ac.kindly accept you do not follow legal process-acopy is forwarded to hospital auditor, lawer, chiefminister of tamilnadu cmcell, prime minister, president of india, finance minister for necessary action regarding .thanks regarda drgcn \myloan ac noXOHESLM[protected]

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regarding non acceptance of the closure of the loan taken by me

Dr.Chidambaranathan Orthosurgeon
8:02 AM (14 hours ago)

to customercare
dear sir this is iam writing from my heart felt feeling as to how much your company employes disturbing me.i wanted to close the loan.i requested to give a closure statement .tthe manager mr sivaprakasam gave after15 days.then subsequentely mr balamurugan introdusing himself as sr manager and and with arough voice said doanything .iam least bothered.
the manager requested to bring the money of one crore and ten lakhs to icici bank.idid but the manager did not turn up.some unknown person asked for thr money and refused to ive the bill and asked for a blank cheque .when i contacted the manager icici said unless the chola authorised person writes we can not accept the amount.so i was forcefully sent back with out accepting he money by the bank employes.9chola) why they are refusing to accept the amount from me.
few months back two people opening my house entered my house and started shouting.and they stayed in my housre in spite of me telling them that money will be paid in48 hours.then they left after the person who arranged for the loan came over to my house.

i like to know is this the way to earn money by murugappa group.the matter reported to police station and the 2 people apologised in police station and given a letter.
now i wanted to close the loan but your company is not accepting the request. and making me to run here and there.
if your customer care is really working kindly reply.
i gave an sms to chola-got a phone call and asked about th loan no- iwas in opea=ratiom theater and requested to call by 5 pm for which they accepted.and not responded at 5 pm.such an irregular employes why they are sitting in customer care.see hoe your cus.care is working.is working or dead.kindly repond if your customer care doing customer service-

WITH REGARDS,
dr g chidambaranathan ms mch dnb dorth
advaitha ashram road swernapuri salem tn and c.santhi

NATHAN SUPER SPECIALITY HOSPITAL

SALEM-16.

Dear company.. I want to inform you tht my vehicle is financed by your company in rajnandgaon chattisgarh.. I had payed my all installment regularly my one installment is due of ruppes 9100 your company staff is forcing nd giving me mental pressure of pymnt although i have told them that i will pay by 10-15 days but the are giving me a mental pressure nd harrasing me.. The company staff named abhishek of rajnandgaon chattishgarh is harrasing me very badly he is saying that he will cease my vehicle.. Thts not the way of business.. If this will going on i will not business with you or suggest you for business.. You can chek my account my account is pure clean instead of reamaning 9100.. Thankyou..

I have registered complaint in your website regarding pre closure charges 4% on 8th august 2016. Thank you for taking early action and got response from cholamandalam. But they didnt settle the preclosure charges till now,

My loan account no is x0heche[protected]. My outstanding amount is rs.4017593, but they charged 42, 22, 7698. Please kindly do the needful.

Subject:- current status of insurance claim of baburao b shingore

Ref. 1) arbitrator mr. rajeni ramdas notice on date 9 aug 2016. srp/cmp no.400/2016.

2). cholamandalam investment & finance company ltd. chennai letter on date-17.07.2015

3) cholamandalam investment & finance company ltd. chonchwad branch letter on date - 31.08.2015


Respected sir,

I have submitted insurance claim for loan agreement no. xvfppev[protected] issued in my father’s name. my father (vehicle owner) expired on 16.08.2014. the insurance claim file was submitted to through pune office in jan-2015.in july 2015 the nominee details has been filled in my mother’s name (mangal baburao shingore). please let me current status of my father’s insurance claim as i hav been served the notice to deposit the loan out standing amount of rs.375885/- against the vehicle no. mh-14-dm 2183 (ashok leyland mini truck, dost) i have already surrendered vehicle at chinchwad branch pune.

My economical condition is poor & in absence of insurance claim sanction it is very difficult to repay loan amount due to sad demise of father.

I humbly request to you to sanction my long pending insurance claim as early as possible so that i can repay the loan & get my truck realeased as it my only income source for my family.

I have requested many times pune & chinchwad branch office to give me tata aig insurance policy no. but they have not given the insurance claim no. to me

Please look into the matter & sanction my insurance clain of my fathers as early as possible.

Thanking you.

आपके पुना ब्रॅच के मॅनेजरे कुलकर्णी सर, अश्विनी मॅडम, चिंचवड ब्रॅच के हेमराज सर इनके आदेश, सुजाव पर हमने मेरे मृत पिताजीका insurance claim किया है. पिचले २ साल से मेरे पुरी फॅमिली की आपकी कंपनी की अाैर से बहुत harassment हुयी हे! कृपया हम आदिवासी परिवार को इस problem से बाहर निकाले.


Your’s faithfully

Laxman baburao shingore

[protected]

I have taken loan from cholamandalam investment and finance. My loan no is xoheche[protected], name: k. Radhika. I have closed my loan on august 2015. My outstanding amount is 40, 17, 593. But they have charged 42, 27, 128.
I have requested them to avoid foreclosure charges, but they are not allowed to reduce the amount.
I asked them and made call so many times, but no response from them. Please consider my complaint seriously, because this money will help for my children education. This loan is taken for education purpose. Kindly i request you take action at the earliest.

Chola mandlam finance is showing eye catching results to create image in the market of a high performer but professionals working in it & out sourced agencies involved are managing the whole show under the guise of financing with ugly corrupt deals enforced on consumers before handing over any loan. Properties are overvalued & handsome hair cuts are taken by the staff of chola mandlam. This is simply rot. It is disgusting to find very old Murgappa Group silently endorsing so called high performance. Before it becomes menace RBI must intervene & investigate this over valuation & under hand empire of so called professional racket operating in this company.

I had banged my car when i was taking it out of the car lift in the morning on 9th may, 2016.
Immediately i started the process for taking the insurance claim for the accident that happened.
once the complaint was done and along with all the paper work i gave my car for repairing.
The insurance agent said that the claim will be passed within a week. After the checking made by the cholamandalam officer regarding the matter on Monday 16th april, 2016 he rejected my claim stating that i should have applied breaks before banging my car.
which means that I purposely banged my car so that I can get insurance claim from them. what he was tring to say is I caused the accident on purpose and banged my car.
I would request you look into the matter and guide me as to what am i supposed to do in this scenario.
Thanking you,
Vidit Pravin Nishar.

Hi team,

As a daily routine i (Hiteshwar chauhan) was going to my office (Hcl business services, noida) in my car (Swift ldi, colour - white, registration number - hr 51 aw 8969) around 11:00 am on 17th march 2016 and, then suddenly a car stopped in front of my car near sai mandir sec 71 noida.

Three people came out of the car and said that we are from cholamandalam and you have not submitted instalments of your loan.

I replied to them that yesterday itself, i.E., on 16th march, i talked to your collection executive (Om prakash) and i confirmed him that the payment (Two instalments of rs.16475.00 each) will be done before 29th march, 2016 and he said ok, but do not forget to submit the payment before 29th and i said i will submit before 29. So without intimation, how can you take my car. You should have informed me before, so that i can arrange the money and pay the outstanding instalments.

They didn't listen to me and forcefully snatched my car's key and then they physically harassed me and took me out of the car. They also took my phone.This is how they got my car.

After this incident, i talked to customer care of cholamandalam @[protected] and an executive said that this can only be resolved at our branch, whichever is near to you. I also talked to the field executive om prakash from whom i got payment reminder call and he also replied that i can not do anything. He gave me the number of his brm (Branch receivable manager) mr. Kohli. I talked to him and said how can you seize my car without any intimation. He said, i can not do anything now and you have to come tomorrow at our branch and can have the discussion, for now you go to your home.

So, on 18th march 2016 after visiting their noida branch i talked to kohli and he said that you have to pay approx rs.56, 150/ to release the car. (Rs.32, 950/- for two outstanding installments + rs.2, 385/- for other charges + rs.11, 565/- for late penalties and interest + rs.9, 250/- for seizure agent).

Company details:
Registered office:
Cholamandalam investment & finance company limited (Cifcl),
Dare house 1st floor, 2, nsc bose road,
Chennai 600-001
Cin : l65993tn1978plc007576.
Toll free[protected]
Tel: +[protected]
Fax: +[protected]


Resolution:-

1. I can pay them the whole outstanding amount except rs.9, 250/- which is for the seizure agent. Because, this should not have been done with me.

2. There should be penalty on the company for my defamation.


Please help me to resolve this issue as soon as possible.

I am following up with company management for almost 3 years for my PF transfer but they are not bothered to respond. Please help.

Dear Sir, I Shyam Agarwal have taken a mortgage loan from CHOLAMANDALAM INVESTMENTS AND FINANCE COMPANY LTD. of Rs. 64, 00, 000/- & 25, 00, 000/- in 2011 & 2015. Sir i have been paying my Emi"s timely upto now but now i want to repay the balance amount & close the loan account. For that CHOLA is charging me 2% foreclosure charges on outstanding amount. As per RBI"s rule pre closing charges or foreclosure charges cant be taken but these people are not listening.
So i request you to kindly help me in this matter.

Sir i have attached copy of details provided to me by CHOLA.

Sir due to penalty of Rs. 2500/- per day i have already paid my balance amount with foreclosure charges to chola on 18/01/2016. I request you to kindly help me in getting my 2% amount i.e. Rs. 1, 35, 220/- back.

Thanks & Regards,
Shyam Agarwal
4/A-2/5, New Ajantha Avenue,
Paud Road, Kothrud, Maharashtra, Pune 411038
Enail- [protected]@gmail.com

This was regarding the vehicle loan which we took from Cholamandalam finance few years back. We closed the loan with all dues in 2014. The customer care confirmed the closure of the loan and issuance of NOC from Cholamandalam head office on 17th May, 2014. When we approach the branch office in Thane branch for the same, they denial for the issuance of NOC and closure of loan and ask for some settling(from 1.5 lac to 50K now) money. They don't even accept that loan account is closed. I confirmed this many times from Head office and customer care and they said its already closed and i can ask for the duplicate copy of NOC from branch. But branch is not ready to give with the NOC with extra money to them. Can someone help me how to overcome this issue with branch office staff for the duplicate NOC since they never gave me the original which was already issues in 2014 from head office. I am 100% sure they asking money is not legal charges, since it was legal charges there was no point of negotiating from 1.5 lacs to 50K. I hope some expert from Cholamandalam can help me for redressal of this issue or else i need to approach the local police since i know this is extreme extent of corruption now. I am sure its not the actual company doing this, its only the branch and its staff issue. Loan details: Vehicle no: MH 06 - AC- 2818

I r.Nagarajan trichy road olyumpus ramanadhapuram coimbatore t.N.Has taken a home equity loan no. Xohecoi[protected] dated, 28.3.2014 for 22000000 at the rate of 13.8% and payed 16 emi without any cheque bounce, bajaj finance offered at takeovr of loan at11.75%.I applied for forcloser of loan now chola has charged 4 % as forecast charges as per rbi role rbi role rbi 2014 -15/121, dnbs ( pd ). Cc.No.399 / 03.10. 42 / 2014-15. All non banking financial companies should not charge forecaster charges, industrial at floating rate of interest. So i raise a complaint against chola please take necessary action and do the need full

I r.Nagarajan 1776 trichy road olyumpus ramanadhapuram coimbatore t.N.Has taken a home equity loan no xoheco[protected] .Dated, 28.03.2014 for 22000000 at rate 13.8.At a fourcloser of 4% if take over or 2% for own fund for purchasing a house in bangalore and i have paid 16 emi without any cheque bounce, bajaj finance offered at 11.75 takeovr of loan now chola has charged 4% as forecast charges rs 9583391.75.But as per rbi role rbi/2013_14/582, dbod direct. Bc no 110/13.03.00/2013_14 .And rbi /2014-15/121.Dnbs (Pd).Cc.No.399/03.10.42/[protected] july 14.2014 there is no forcloser charges for non banking financial companies on floating rate .So please advise me regarding this matter
Thanking you

sir mene phulera branch m loan ke liye aap ke branch m kam krne wala din dyal ko aj 10 din se 2 truck pr loan krne ko bol rha hu jo aj kal ka kam leta h pr phone rec nhi krta h kam se kam ans tho de m kehi or se kra luga loan ap ki company ki frji h or wo kam krne wale bhi mera phle 1 loan chal rha h use bhi bnd kr do fir use chlau q kr rkha h aap se kuch ho or kr sko usko tho krna nhi seleri tho mil rhi h bindas rho or uska din dyal ka no +[protected] ye h