Bajaj Auto Finance / Vehicle Loan — Clearing of Loan account

1 Review
Ref:- 1. Proposal No.344, dt:19.08.2005
2. Name :: Mr. Pedapalli Sanyasi Rao
3. Branch : Anakapalle
I wish to bring to your notice the following points for your information and necessary action please.

1. I have taken a vehicle BAJAJ CT100DLX through your finance for an amount of
Rs.51, 300/-, vide Scheme No.2W-999DP-10.5 ROI 48MSA500-DI-1%

2. Initially I have paid an amount of Rs.4, 000/- at the time of delivery of Vehicle.

3. Anakapalle branch office has levied a penalty of Rs.2, 050/- (from 25.05.2006 to 25.10.2006) due to non issue of cheques pertaining to installment from us. Hence, I have paid the minimum penalty amount of Rs.400/- along with the installments on 25.10.2006.

4. Afterwards, I have issued cheques towards installment No.11 to 20 to Anakapalle branch, vide cheque Nos.850011 to 850020. (i.e. 10 Nos. cheques).

5. In the event of issue of cheques, Anakapalle branch office people have misplaced 2 (Two) cheques (i.e. cheque Nos.850019 & 850020). Even though we have deposited the amount in our loan account towards installment, Anakapalle branch office people could not deposit the cheques in time and hence they have again levied a penalty of Rs.800/- + Rs.650/- due to no fault of us. I have paid the penalty amount of Rs.1, 450/- on 18.07.2007.

6. I have issued 10 Nos. blank cheques of the federal bank (the account which is opened by Anakapalle Branch at the time vehicle purchasing), vide cheque Nos.962901 to 922910 of Anakapalle branch for installment No.21 to 30. They have informed us that 10 Nos. cheques were lost by them. Immediately, I have approached the Bank along with their representative and collect the bank statement. I found from the bank statement that Rs.6, 100/- was drawn from the Bank, vide cheque Nos.962901 to No.962907, in the name of Mr.P.Madhu Babu and hence we have closed the Bank Account to avoid Mis-use of the balance cheques. Afterwards Bajaj Auto Finance Head Office (Pune) & Visakhapatnam Branch Office people had visited Anakapalle Branch and told their representative to pay the money back to me which was already paid to them along with penalty amounting to Rs.6, 100/- + Rs.1, 450/- = Rs.7, 550/-. Their representative has paid the amount of Rs.1, 425/- + Rs.2, 000/- = Rs.3, 425/- to me instead of Rs.7, 550/- and told me that he could not pay the balance amount of Rs.4, 125/-. So this amount to be counted in my loan account.

During my enquiry, I further bring to your notice that so many people are suffering with Bajaj Auto Anakapalle Branch attitudes who are taking vehicles on finance. I have tried to contact Manager in person at Visakhapatnam office, But their staff (Mr.Murthy) forced me to pay the balance amount.

I request you to finalize this issue immediately as I have decided to pay the total balance installments to them.

Your immediate action will be highly appreciated.

If you need any further information, please contact me on my Mobile : [protected].

P. Sanyasi Rao
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    Bajaj Auto Finance / Vehicle Loan - Clearing of Loan account