[Resolved]  ICICI Bank — LOAN AGAINST SHARES

Subject: Ms Priyanka Rajendra Prasad (ICICI Bank Ltd, Savings A/C No.[protected],Loan A/c No.[protected],
Demat Details: Client ID:302902,Beneficiary A/C:[protected]

Dear Sir/Madam,
Please note that I applied in Oct, 2006 to ICICI Bank Ltd,Vashi, Navi Mumbai for a Loan against Securities (LAS)/Overdraft Facility with a Maximum Limit (Rs. 20,00,000/-) and pledged my/my sister’s Shares accordingly.
I availed Loans to help my parents, sisters and partly for share trading. The said Bank sold my shares without our intimation by letter, telephone/mobile, telegram/phonogram, e-mail or others. Share details are : i) 15.06.2007: Rs. 2,98,873.41, ii) 14.10.2008: Rs. 14,37,473.56 & iii) 10.12.2008: Rs. 2,31,464.34.On intimation I could have deposited cash or pledged more my/sister’s Demat shares there or transferred to my Demat Account from my sister’s account in other Bank in hours or within a couple of days at the maximum.
I went many times for each sale to Bank’s Office at Vashi,Navi Mumbai and particularly more for major sale of shares in October,2008 and then they could sign my letter finally on 1.11.2008 & sent Contract Note dated 1.11.2008 (received on 08.11.2008)while this should be sent just after the sale. First Contract Note to this effect was sent on 20.06.2007, the second was sent on complain and the last wasn’t sent at all. Still my first letter wasn’t replied. We sent 2nd letter on 06.09.2010 and replied after six months on 09.02.2011 with three Exhibits-one a Telegram (8.10.2008) sent from Andheri(E) to Andheri (E),Mumbai whereas my Telegraph Office is at Vashi, Navi Mumbai. The other two Exhibits are not relevant as they are not connected to these sales. All other as well as recent telegram telegrams are sent at Vashi T/O adress as they show.
As per Bank’s letter on 09.02.2011, Overdrawn Amount was only Rs 7,89,570.59 whereas shares sold was almost double and on 05.12.2008,it was Rs 2,10,534.03 whereas it was almost same as seen from above figures.
Based on the above, I approached ‘State Consumer Forum’ within months of receiving their reply. However, recently on 24.08.2012, they came to the conclusion that this case does not fall under their purview.
Effects are beyond description: i) I was jobless with no money & forced to do a job, ii) Parents lost their peace in that shock, and iii) My father is almost paralyzed & jobless. Thus, compensation cannot return the loss I incurred.
However, I request you to reimburse Rs.49,96,000/-(Forty nine lakh ninety six thousand) as stated therein within the purview of RBI Rules at the earliest and do me a favour. Relevant correspondences are attached herewith for your reference and other documents shall be provided upon your request.
Yours faithfully
pls help me i[censored] can because i am not getting help never

service of icici bank is very worst in loan dept i can give you prove.

Hi,

We have made a note of your contact details. Our official will get back to you soon to assist you.

Regards,
ICICI Bank Customer Service Team