Dewan Housing Finance Corporation [DHFL] — false practices & unethical charges levied by dhfl employee - loan application number: 01517570

Address:	Mumbai City, Maharashtra, 400055
Website:	www.dhfl.com

Officially raised complaints in dhfl but nodal team of dhfl trying to defend the ill practises of their employee and trying to put the blame on customer's head, denying the refund.

My concern is if there was no issue from the dhlf employee’s end then why he & his team mates calling me, threatening me, apologizing me, asking me to come down to their office for a meeting and finally want me to withdraw the complaint?

Complaint regarding unethical charges : srdis00753155
Complaint against dhfl executive : ccdis00751986 & ccdis00753189

Dear sir / madam,

Name : jiger mahendra shah

Loan application number: 01517570

I am compelled to raise this concern after a long chase of 2 months with dhfl employees, who are always trying to dodge the issue & end up giving false promises.

I applied for dhfl loan on june 15, 2017 for an amount of rs. 40, 000 (40 lakhs) which was within my approval limits. During loan applications the dhfl executive mr. Darshan kadam (+91-[protected]) who sits in rustomjee building dahisar west branch mumbai boasted about transparent & quick process of dhfl and will help me get the disbursement done by end of june 2017 (Within 15 days).

To my surprise as dhfl website states rate of interest of 8.35% and i got my sanction letter of rs. 40, 000 lakhs loan and optional insurance of approx. 3.5 lakhs which they said its mandatory with a rate of interest of 8.7%. When i denied to accept the sanction letter they ended up bargaining and reduced my principal loan amount and insurance to rs. 39, 00, 000 & rs. 1, 35, 000 with rate of interest 8.7%. Yes there is bargaining policy in dhfl.

The disbursement cheque of rs. 39, 00, 000 got ready by 28-june-2017, but darshan said as its month-end means they won’t be able to release the cheque. Now why dhfl cannot release a cheque due to month-end? Whats the policy behind this?

During the process they took duly signed 13 blank cheques under the name of dhfl as security and committed to inform me before they deposit any of the cheque. But around 29th june 2017 they deposited a cheque of rs. 8500 without informing me and it got bounced as i was not informed. When i inquired, darshan said they forgot to inform me and apologized and asked me not to tell their higher authority and also asked me to pay the cheque bounce charges of rs. 500 and a demand draft of rs. 8800 now else it will spoil my cibil record.

As i had no knowledge of all this mis-hap i gave a demand draft of rs. 8800 to darshan but now they said as the cheque has bounced due to “customer’s mistake” and darshan portrayed to higher management that it was jiger shah’s fault. They came up with a deal that now they will release the cheque only if i agree to their higher rate of interest of 0.25%. As they cannot re-process my application with same rate of interest. Is there a policy in dhfl that if a cheque bounces the manager has the right to increase rate of interest by 0.50% and then negotiate bargain to 0.25% hike?

During this discussion i had already paid and submitted all the documents and cheques and paid all the amount of processing fees etc, to my disappointment the gap interest of rs. 962 was deducted on 30th june 2017 and without disbusrement of my cheque already my 1st emi was deducted from my account on 10-july-2017 of rs. 32, 000.

Which company deducts emi without disbursement & hand-over of loan cheque to the customer?

I was helpless and my continuous follow up with no response from darshan or his team delayed the process more which breached my commitment to my builder to pay him the loan amount. One day in 2nd week of july i went to dahisar office to meet darshan to get an update regarding my loan application. After waiting for 2.5 hours in office when he got to know that i had came to visit him, i called him approximately 20 times, he ran away from the office saying he has left for the day around 5.30 pm. (Ideally he is in office till 10 pm) what kind of professional behavior is this?

They threatened me that they will only release my cheque only if i agree to their higher rate of interest of 0.25%. So my rate of interest hiked from 8.7% to 8.95%.

Finally i had to give in and agree to their higher rate of interest and they made me send them a mail to their manager rajiv tripathi (+91-[protected]) saying i agree to the higher rate of interest and kindly release my cheque on 22nd july 2017

It more than 10 days now, still i haven’t received any update regarding my new loan application document or any kind of communication regarding my loan. And suddenly again rs. 2154 cheque was deducted by dhfl without informing me on 29-jul-2017 and today again rs. 8280 was deducted from my account by dhfl without any intimation. Dhfl has no records of these deductions. Attaching the statement for the same. So where has my money gone?

29 jul 2017 chq paid-micr cts-mu-dhfl [protected] 29 jul 2017 2, 154.00


I request you to kindly take this on priority and on a serious note and help me resolve these concerns.

I understand the dhfl executives will try to defend them saying it was customer’s mistake and it was delay from customer’s end. But i wish to ask what was the exact reason which caused the delay in releasing a cheque which issued on 28-june-2017?

What made a big delay of 25 days in handing over the cheque when darshan everyday assured that my file is completely approved and nothing is pending from myside or builder's side but still he would manager to come up with a new excuse everyday for not handing over the cheque to me cursing the poor process and system of dhfl?

In your system it shows disbursement date as 30-june-2017 but darshan kadam & rajiv tripathi said that the cheque has some numbering done which was done post 20-july-2017. So if the cheque handover to me and disbursement is done on 30-june-2017, then how come the cheque numbering was done on around 20-july-2017?

I strongly wish to register a complaint against mr. Darshan kadam and his team for all the false promises and mal-practices which was observed during the process.

All i demand is
• refund me the amount of rs. 962 on 30-june-2017 & 1st emi of rs. 32, 000 deducted on 10-jul-2017 without even handing over the disbursement cheque.
• revise my loan application which me & my wife had signed and agreed to i. E rs. 39, 00, 000 at rate of interest less than 8.7%
• help me with all the loan documents which are not sent to me as i don’t even know what amount of emi is going to get deducted on 10-aug-2017.
• clarification of deduction of rs. 2154 on 29-jul-2017 & rs. 8280 deducted on 03-aug-2017.
• a strict action against darshan kadam for all his false practises & promises assuring me to handover me the cheque by 30-june-2017 and unethical charges levied on me due to him.

Approved sanction letter & disbursement cheque dated 28-june-2017 attached for reference.

Many thanks for your co-operation.
Regards,
Jiger shah
+91-[protected]