[Resolved]  Mahindra & Mahindra Financial Services Ltd. — Non Receipt of PF amount trf from previous emloyer.

Respected Sir,

Greetings!

We wish to get ourself introduced as we are one of your good customers who have been associated with you since June 2006.

We, Vinayaga Call Taxi, Coimbatore, have hired SIX Vehicles(Maruti OMNI VAN) from the fund provided by you, the prestigious Mahindra & Mahindra Finance Company Limited. Since 2001, Vinayaga Call Taxi has been established and was being performing best to the core. It was the most famous among the branded Call Taxi’s of Coimbatore City. With respect to this we hired few more vehicles in the year 2006 after having sold the older ones to replenish the comfort for the customers. But unfortunately there have been lot of mishaps, like high competitor’s edge, lot of management and partnership problems, and many have lead to the loss and poor performance of the company as a whole. So, Vinayaga Call Taxi, the partnership firm has been dismantled and spinned off as a Proprietary concern and there came all the issues creeping in again as a Tsunami. But still with all our best efforts and by hiring from other local companies and jewel loan we tried our best to repay the loans. We wish to keep you posted that mostly we were running our cabs to IT firms. The agony to the core is that due to recession we were not able to neither run our cabs nor were regular customers picking us up. So repayment of Loans has become a Herculean task and sorry to say that we failed many of the Instalments and in fact some were paid as Late Payments. The history of the loan and the repayment details are as follows:

SV. Kannammai - RHP No. 459232, 459328
B. Bavani - RHP No. 459357, 459534
S. Sevugan - RHP No. 459887, 459581

Per Vehicle Loan Amount = Rs.2, 20, 000/-
Due details: Rs.6050 X 48 = Rs.2, 90, 400/-

So far we have paid Rs.6050 X 29 (instalments) = Rs.175450/- per vehicle

Balance to be paid Rs.6050 X 19 (instalments) = Rs.114950/- per vehicle

(Apr 2009 – June 2011):
Vehicle Overdue Till Mar 09 Future Due AFC
1 24200 85051 22293
2 24200 85051 22793
3 24200 85051 23137
4 24200 85051 23137
5 24200 85051 23183
6 24200 85051 22070
Total 145200 510306 136613

Yet to be paid for SIX Vehicles Rs.6, 55, 506 + Rs.1, 36, 613 = Rs.7, 92, 119/-

Now the situation is still worse that we are in a crucial condition to repay our loans. At this juncture we visited the local branch in the city and were trying to make them understand our critical situation. But they are so strong in their policies and conditions that they do not want to help us anyway. So, we thought let us post our real problems and current situations to you(In fact do not know whether we will be attended to for our mail, but hoping our best). Hope you can understand. We have evidences of all our history and problems and wish to meet any higher-ups and explain our current scenario with proofs and facts. We would be grateful to you if you could consider our FULL REPAYMENT IMPOSSIBILITY and help us out in giving us a waiver best possible.

To be frank sir, we are in such a bad situation that we are arranging for a loan for very HIGH interest rate to pay u the waiver amount. We will be able to arrange at the max of Rs.5, 25, 000 to close this loan and please consider our situation.

We wish to meet you in person at your Head Office in Chennai if you could give us some appointment. Please help.

Please understand our situation and eagerly looking forward for a VERY POSITIVE REPLY. Please consider our lives.

Thanking you,

Yours truly,
Kannammai Sevugan
W/o. Sevugan @ Kannan

Account Code [protected] DHP No:419225 Asset Cod: MJOO

I have taken loan during March, 2006, and I have already paid the
full amount.
Total Amount Financed 260, 000 Agreement Value Rs.322400/=
No.of Instalment 47 - Date Commencement 26.3.2006
Date Completed 26.1.2010. Total Repayment 322, 400/=.

Now I have received an intimation asking me to pay an additional interest charges of Rs.6198/= After settling the full amount I do
not why I have to pay an additional amount. For this I have not
received any information from you before I complete my instalments. I have given the postdated cheque, but it has not
presented in time. Therefore some have credited late. This is
also not my mistake. Please check the account and send me the
NOC early.