[Resolved]  Kotak Mahindra Bank — Fraud Commitment Against Personal Loan

Dear Sir / Madam,

I am Manoj sawant applied for Personal Loan from Kotak Mahindra Bank on a assurance given by Executive of Kotak Mahindra Mr Vijay ( Team Lead Services Pvt Ltd Andheri) that i will be given loan at 15% reducing balance interest & 1.5% towards processing fees and without any Hidden charges.

I have submitted all the necessary document as per the requirement of the loan with blank cheques signed.

After processing i got SMS on 30th Jan -2008 that my loan has been sanctioned and disbursed vide chque no 034339 for Rs 97,557.00 this was not handed over to me or posted to my residential address the Bank have directly deposited into my account i have personally called Mr.Sumit enquiring about the Interest rate & service charges is not what was promised to me i.e. Interest rate was agreed to 15% & service charges was agreed to 1.5% further i had instructed them not to disburse the loan as the same was not acceptable at 18% but without considering my request & without my approval for the same they have directly deposited in my account i didnt expect such Fraud service from an reputed bank.

I am in constant touch with the Kotak Mahindra Bank Personal Loan Dept. Ms Madhavi Dhote & Key Accounts manager Mr. Kartik Subramaniam to cancell my loan over the phone and also through mail and the bank official has accepted their mistake and agreed to return all my documents but all my efforts didnt get the favourable response till today none of the bank official has come to my office or approached me for return of the document i am ready to hand over the cheque or transfer through net the loan amount disbursed to me immediately on receipt of my all documents as i have lost my faith on Kotak Mahindra Bank .Further I shall not be responsible for any reason of whatsoever.

Now i am thinking to lodge complaint with Consumer Court and hand over the cheque amount to the court doe to no response from Kotak Mahindra Bank Loan department.


With Regards
Manoj sawant
Mobile No [protected] , [protected]
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Aug 13, 2020
Complaint marked as Resolved 
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From: Muralidhara, Shashidhar
Sent: Friday, April 11, 2008 10:18 AM
To: ' ([protected]@kotak.com)'
Subject: Please Help

Hi ..
To whom so ever it may concern..

My name is Shashidhar, I had applied for a personal loan from Kotak Mahindra, after 4 weeks of running around I was today told that the loan was cancelled due to the cheque bounce in the Citi bank Sividha account, where I have a personal loan, the Citi bank ECS happens on the 1st of every month and my salary also gets credited on the same day, the ECS is rejected every month due to the same reason.

In the early days I contacted Hema ([protected]) a rep from whom I applied for a loan, after the documents were submitted the very next day I spoke to her, after that there was no communication from the Kotak dept, either the call went unanswered or was cut off, then finally Hema told me that she has left the job and to follow-up I needed to contact her ‘Team Lead’ Vishaw ([protected]) who said that the ‘credit manager’ needed to speak to me so that the loan can get approved, after 48 working hrs there was no reply from Vishwa, he never picked the call .. after calling him from a land line he answered the call and blindly said I needed to contact Chetan (not sure who we has) on [protected] for any further clarification, Chetan needed my Citi bank loan statement and was told that the details were not given before (the loan a/c number was provided to Hema earlier), after sending the statement over the e-mail there was no further communication from Chetan too, after repeated follow-up I was told that the file was rejected as there was cheque bounces and the call was cut,

Both Hema and Vishwa were told that the loan was required to close the Citi Bank loan and they were ok with the option, Chetan who does not know how to speak to the customers on the final call was speaking to someone next to him without muting the phone and I quote ‘ it’s the same customer who is abusive and threatening, I will tell him that the loan is rejected’

I understand that it’s difficult to get a loan with the cheque bounce seen in the statements, but after giving clear information to why the bounce is seen I think it’s the rep’s courtesy to speak on normal tone to the cust, I also understand that due to the frustration for 4 weeks with no or less communication I too would have spoken rudely .. but is that not a customer’s frustration ??

Is there any way some action can be taken regarding the ‘agent’s .. I am writing this mail with hope of not getting a loan but some kind of satisfactory action been taken against the agents..

~ Thanks and Regards,
Shashidhar M ~
From :
Mohd Parvez Khan
8/9 Ajeet Ganj Colony T.P. Nagar
Kanpur
Mobile No. [protected]
E-mail [protected]@yahoo.co.in
To,
The Manager
Kotak Mahindra Bank
17/3B, The Mall
Meghdoot Hotel Building
Kanpur

Sub: Amount handover the Mr. Santosh Srivastava (Location Head Sales) for opening for Zero balance account.

Sir,
We regret to inform you that I have handed over a sum of Rs 10, 000/- (Ten Thousand only) to Mr. Santosh Srivastava Location Head (Sales) on 14/03/2009 in spite of repeated reminders and personal meeting with Mr. Santosh Srivastava the money could not be deposited with Kotak Mahindra Bank by Mr. Santosh Srivastava till date for opening of zero balance account.
I have come to know from the staff of your Bank that Mr. Santosh Srivastava has left the job with your Bank without depositing money with your branch. In this situation my money is blocked and I am a looser of Rs Rs 10, 000/- (Ten Thousand only).
Kindly look into the matter and realize my money from Mr. Santosh Srivastava immediately so that I may be able to open zero balance account with your branch I am highly obliged if the matter is solved on urgent basis.

Regards,
Your faithfully
Mohd Parvez Khan
for information and necessary action at your end.
I WANT TO FOR CLOSED MY PERSONAL LOAN MY PERSONAL LOAN AC NO IS 1773560 I HAD TAKEN LOAN OF 512356 AND MY EMI IS 19975 ON THE NAME OF VIKRAM METAL FORGING PLEASE GIVE ME THE FINAL AMOUNT OF LOAN FOR COLSED OTHER WISE PLEASE CALL ME ON THIS NUMBER [protected]/[protected]

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