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[Resolved]  IndiaBulls — HARASSMENT & TORTURE BY INDIABULLS TO EXTRACT EXTRA MONEY.

HARASSMENT & TORTURE BY INDIABULLS TO EXTRACT EXTRA MONEY.
I had taken personal loan from Indiabulls of Rs.25, 601/- on 25/5/2007 and repaid Rs.22600/- but just default in one of my EMI of Rs.1800/-, Indiabulls misused my blank security cheque by filling false amount of Rs.28, 249/- and they also misused my blank signed loan agreement by filling false figures of 30 installments instead of 24 (Usurious rate of interest more than 60 % p/a.), denied the receipt of some amount debited from my bank. Even though I tried to settle the dispute by offering reasonable amount pending principal amount and interest amount but to extract extra money from me Indiabulls has filled bogus cheque bounce case against me in Patiala House Court, New Delhi. As it is tough to defend the false cheque bounce case traveling from Mumbai to Delhi, Indiabulls forcing me to pay Rs.33208/- plus uncharged interest. To extract the money company filled thousands of cheque bounces cases in Delhi Courts. In spite of my several complaints to RBI against India bulls, RBI not taking the matter seriously and protecting Indiabulls by neglecting all my complaints. The whole system is working with Indiabulls. To earn huge money Indiabulls bring the thousands of poor borrowers to suicidal point. Financial Company openly violate the fair business practice guidelines given by RBI.

R B I PROTECTING DUBIOUS FINANCE COMPANY

Here under are reports of newspapers about the Indiabulls, which shows the how finance company doing business. The said finance company implicated me and thousands of Maharashtra youths in bogus cheque bounce cases in New Delhi Courts to extract extra money. I raised and made complaint against Indiabulls with RBI by writing letters, emails, reminders, telephone calls, but I am disappointed that even though eight months has been passed instead of taking any action against Indiabulls, RBI not taking matter seriously and by diluting seriousness of complaints, openly protecting the finance company. The whole system is working with Indiabulls and other NBFC that is why are charging rate of interest between 60 to 80 % per anum which is usurious.

1.Police restrained from arresting Indiabulls executives
http://timesofindia.indiatimes.com/Business/India-Business/Police-restrained-from-arresting-Indiabulls-executives/articleshow/4324836.cms

2.SEBI FINES INDIABULLS FOR FRAUDULENT PRACTICES.
Link:-
http://www.business-standard.com/india/news/sebi-fines-indiabulls-for-fraudulent-practices/00/03/350132/

3.Delhi High Court refuses to stay investigation against Indiabulls officials.
Link:-
http://economictimes.indiatimes.com/articleshow/2935511.cms

4.FIR against Indiabulls for illegal transactions.
Link:-
http://www.accessmylibrary.com/coms2/summary_[protected]_ITM

5.Financial Services Firm in the Dock
Link:-
http://timesofindia.indiatimes.com/articleshow/2842494.cms

6.Despite SEBI inquiry, Court allows FIR against Indiabulls.
Link:-
http://www.expressindia.com/latest-news/despite-sebi-inquiry-court-allows-fir-ag...indiabulls-officials/412487/

7.Investors allege shares worth of crores vanished from their Indiabulls accounts in blink.
Link:-

http://mid-day.com/news/2009/feb/020209-Indiabulls-Securities-Limited-investors-Delhi-news-alleged-fraud-selling-shares-without-in...

http://mid-day.com/news/2009/feb/020209indiabulls-investors-allege-fraud1.htm
7.Indiabulls asked us to fake it.
Link:-

http://www.mid-day.com/news/2009/feb/030209-News-Delhi-Courier-firm-employee-fin...Indiabulls-account.htm

8.IPO Scam, What, When, Who and How ?
Link:-
http://ibnlive.in.com/news/ipo-scam-what-when-who-and-how/8980-7-single.html

9.Indiabulls, Forts undergo Income Tax searches.
Link:-
http://www.indiantaxsolutions.com/main.php?t=28011985&d=[protected]

10.Fraud : Indiabulls men booked.
Link:-
http://cities.expressindia.com/fullstory.php?newsid=85402

11. Indiabulls Co. charges 4.5 Crores Service Tax on Fake registration number.
Limk:-
http://www.allindiantaxes.com/ait-news-145.php

12. Indiabulls Retail not paying some vendors.
Link:-
http://www.livemint.com/2008/12/12234548/Indiabulls-Retail-not-paying-s.html
13.Indiabulls to pay up Rs.35, 000/- as compensation.
Link:-
http://www.livemint.com/2008/12/12234548/Indiabulls-Retail-not-paying-s.html
14.Pay us our dues now.
Link:-
http://www.managementparadise.com/forums/general-talks/4955-pay-us-our-dues-now....
15.Vanished Funds.
Link:-
http://www.indianexpress.com/oldstory.php?storyid=82800

Criminal cases filed against RBI, RCS officials on UCB fiasco
Our Bureau
HYDERABAD, June 15
IN A significant development, criminal cases were filed in the Court of Metropolitan Sessions Judge, Nampally, here against two officers of the Reserve Bank of India (RBI) and two officers belonging to the Registrar of Cooperative Societies (RCS) holding them responsible for the fiasco of local urban co-operative banks (UCBs) in the recent past.
Investigations against these officials of the RBI and the RCS were sought under the Andhra Pradesh Protection of Depositors of Financial Establishments Act 1999.
While the case was filed by one of the depositors of the crisis-ridden Vasavi Cooperative Urban Bank, Ms Savitha Devi, the court has admitted the complaint and referred the matter to the Crime Investigation Department (CID) for further investigation.
Announcing these details at the meeting of Welfare Association of Cooperative Bank Depositors here on Saturday, the Founder Trustee of Visu Trust, Mr C.C. Reddy, said the proceedings would be a landmark case wherein two senior most officers of the RBI and the RCS were accused of having wilfully omitted to discharge their statutory duties either in pursuance of a conspiracy entered into by them with the other accused mentioned in the charge sheet filed by the CID or intentionally aiding other accused in committing offences alleged against them in the said charge sheet.
Mr Reddy said the Government officers were not only vested with powers but were also accountable for any commissions and omissions.
In the case of Vasavi Bank, almost two years before the bank has finally closed its shutters, there were consistent complaints against the bank management and loanees that they were hatching a criminal conspiracy to loot the depositors' money. "Neither the RBI nor RCS did anything to stop it nor did they take any steps to expose such conspiracies and punish those involved as per law, " Mr Reddy said.
Accusing the RBI and the RCS officials of entering into conspiracy with the fraudulent bank managements, Mr Reddy said the complicity of both the RBI and RCS officers was reflected by the fact that within months after Vasavi Bank was elevated to the status of a scheduled bank, it was notified as a weak bank.
Both the RBI and the RCS officials did little to minimise the depositors' suffering by at least releasing the funds that were collected from the loanees.
"They are still sitting with crores of rupees while the depositors are on the streets fighting for their survival and trying to meet their day-to-day needs. It is thus very clear that the concerned officers named in the complaint by their wilful acts and wilful actions have committed the offences under various provisions of the Indian Penal Code, " he accused.
Strongly opposing the one-time settlement packages being offered to the loanees of these failed UCBs, Mr Reddy said, "All the depositors are the shareholders o[censored]CBs and it is their money that is involved in fraudulent actions of the bank management and the loanees and no authority has any right to enter into agreement without the specific participation and consent of the depositors."
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Aug 14, 2020
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