[Resolved]  Car Loan - Kotak Finance — Re-possession of my Car Zen Estilo MMH04DN7409 Loan Account No: CF-4628381

Address:

Mumbai City, Maharashtra

Dear Sir,



Sub: Re-possession of my Car Zen Estilo MMH04DN7409 Loan Account No: CF[protected] Kotak Finance-Mumbai)

Dear Sir,


With reference to the Lone Account No: CF-4628381 financed with your bank against My Primary Asset : 645656-Automobiles-SEGMENT B Zen Estilo -LXI
for amount Rs 3,01,000.00/-

I would like to bring to your kind attention that I a regular EMI payer since 10Th May 2008 and due to family dispute and financial instability because of my work profile, I had an uncertain change of my residence and where by all my other contact ability IE: my email ID: [protected]@yahoo.com / Mobile No: [protected] were always available with the bank. And because of these financial instability couple of payment during the last year end ( OCT/NOV/DEC-09')were dishonored for amount Rs 13950/-. which was subsequently regularized with kotak finance.

I would like to bring to your notice that I was been asked by kotak recovery representative who escorted me to your bank office along with my car to pay the sum of Rs. 13950/- Cheque dishonored charges, Overdue interest receivable charges Rs.6046/-, Legal charges receivable Rs.4050/- and the Service tax+ 5% principal outstanding amount 1201.55/- on 26Th Mar 2010.
Total : 13950+6046+4050+1201.55=25247.55/-
At once we reached the bank the same day evening 6:00PM I was been forced to surrender my car which was not expected from the bank as I was ready to pay the above late payment charges that was due. And there was no intimation from the bank to possess or surrender my Vehicle and the same was done the same day without my wish.

Hence there is no point in foreclosure of the entire amount of Rs. 2'56'772.68/- to re possess my car which is completely illegitimate to put the customer in the circumstances to pay the sum which is not affordable for any person who takes banking car loan.

In the event of not giving back my car on continuing my lone with charges payable I would be forced to complain to consumer Cort.

Anticipating from revert.

Thank you
Good day
Jitesh Islania
M: [protected]
[protected]@yahoo.com