[Resolved]  Tata Capital — unjustified collection of processing fees

We applied for balance transfer of our home loan with M/s. Tata Capital. They initially asked for a non-refundable loan processing fee of Rs. 2758/- however while collecting the repayment capacity documents they collected Rs.5000/- (approx.) we were assured that unless the credit manager OK s the proposal the cheque will not be deposited.
Upon our tedious follow-up, we were informed that our loan application cannot be processed due to lack of consistent repayment track. Kindly note that our CIBIL rating is almost 80% but it is not considered.
Now they are refusing to refund the loan processing fees on the pretext of property valuation services given by them.
We are neither given any receipt of the said fees, nor are we given any report. When enquired they simply deny to issue any report or break-up of the fees.

This denotes that TATA CAPITAL contacts potential loan buyers, collects all financial documents from the applicant, and after collecting the processing fees [the basis of its calculation is also not explained] does not take the responsibility of submitting the reason for not processing the loan, nor does it refund the amount.

This means we are paying Rs. 5000/- to Tata Capital just to read our financial documents?

Kindly advise for further plan of action,
regards,
Vagal A. S.
[protected]@mtnl.net.in