[Resolved]  Fullerton India Credit Company Limited — Failing to debit EMI on time

Hi, myself Safran Shaikh had taken loan of Rs 75,000/- (gross amount) after deducting charges I had got a cheque of Rs. 67,500/-.

I had taken a loan from Andheri branch(Mumbai) in June 09 at the time of taking the loan the agreement was made that on every 5th of the month my EMI of Rs 2905/- need to be debited through ECS from my ICICI bank a/c.
The EMI amount was debited properly for two months on time i.e. 5th July & 5th Aug 09 but in the month of Sept 09 they had failed to debit EMI on time despite I had kept sufficient balance on that date but after 8 to 10 days of my ECS date I received a call from one of the executive called Shivaji stating that your ECS had bounced it was ridiclous & shocking for me that that guy with insufficient knowledge tells me that my ECS had bounced due to insufficient balance on that time. I had told that I can show u the bank statement that I have the enough balance on that day then also he started arguing with me then after wards he told me that I will check with my senior & let you know. After two days I got a call from his senior name Satish then he is also saying the same thing what his executive had told before. I had told him that I had withdrew the money from the ATM for my personal use as I don't know that my EMI has not been debited on time u people giving me call after 8 to 10 days then how will I come to know that my EMI has not been debited, instead of accepting his mistake he started misbehaving with me telling me that I will do this & that if you not pay your EMI by 30th Sept 09 or else we will give your name in the defaulter list or file section 38 on you.

I am a salaried person neither I don't have any other source of income it's there mistake that they had not debited my EMI on time. My responsibility is to kept sufficient fund on 5th of every month. I am saying that how such big mistake can happen are they are sleeping for 8 to 10 days give me call after a long time. I had also make a complaint to customer executive of Fullerton India buth nothing had happen they had told me that we will get back to you shortly.

They have repeated the same mistake in the current month also infact they are not disclosing what's the geniune problem is they are saying that it's a bank problem but I am saying that how first two EMI was debited on time. They people are started harassing me every time, there system is very bad now I am cursing myself why I had taken the loan from such a stupid company where the staff is also don't have the manner to talk with the people.

I want' very strict action to be taken on Mr Shivaji & Mr Satish of collection department or else I will file a legal complaint against Fullerton Company.

Its my humble request to all of my friends don't take any loan or don't do any business with Fullerton Company in future. I had face very bad experiance in all.

Also please advice what I need to do more.

Safran Shaikh
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