Aug 21, 2017
Updated by A Square Group of Companies Chennai Please find below the mail recd from Fed Bank:
We acknowledge receipt of your mail of even date and timed 16:51. At the outset we deny all your allegations which seem to be raised with ulterior motives. All your statements in your mails are denied except those specifically admitted by us in the following paragraphs.
1. Two Gold Loan accounts are outstanding in your name in our Chennai Ambattur branch under Account numbers FEDATO0GL0297312 dated[protected] and FEDATO0GL0297425 dated[protected] with loan amounts Rs.4, 75, 800/- and Rs.91, 000/- respectively.
2. These Gold Loans have been granted to you under terms and conditions agreed by you in writing at the time of availing those loans.
3. All the details of the loans and those of the ornaments pledged and also the terms and conditions of the loans have been furnished to you in the Gold Pledge Cards (GPCs) given to you at the time of availing those loans.
4. You have approached the branch with those GPCs recently to enquire about the loans which clearly shows that you have been holding these GPCs from the time of pledging the ornaments.
5. As per terms agreed by you the rate of interest for those Gold Loans was 19% per annum with condition that if you failed to pay the periodical interest in time, the Interest Rate would be revised to 24% per annum.
6. You had defaulted servicing the periodical interest and hence the Rate of Interest increased from 19% to 24% as per the agreed terms
7. As per agreed term, In case of fall in gold prices, the Company reserves the right to recall the loan along with interest and charges applicable for the said loan even before completion of tenor, accordingly Margin breach notices for captioned accounts were served to you in the month of March 2017.
8. The agreed tenure of those two loans had expired on 24-06-7 and 25-06-17 respectively and the loan accounts were not settled by you, we had served you demand notices and auction notices and included those two accounts in the paper publication for auction.
9. You had approached the branch asking for waiver of interest on these loans which obviously could not be allowed.
10. You had then threatened the branch staff that you will put them and the Company in serious trouble if your request for waiver is not allowed.
11. We deny your allegation that some forgery has been done on your loan documents. This is evident from the fact that the terms and conditions contained in the GPCs held by you are agreed and signed by you therein. It seems that you have concocted a forgery story now with ulterior motives. You had not raised any complaint on such issues during the last one year and until you raised demand for waiver of interest and it was declined.
12. We also deny your charge that our officials are harassing you. We have only intimated our stand in response to your complaint in decent language.
13. On the other hand, our officials are facing threatening and harassment from your side that unless we accede to your requests our officials would face serious consequences and would be implicated in criminal cases.
14. You have been raising wild allegations to pressurize the Company illegally to achieve your ulterior motives. This will not do any good for you nor for the Company.
15. Under these circumstances, we would advise you to stop the unhealthy and illegal practice of making false claims and trying to extract ineligible concessions through such coercive methods.
We hope good counsel will prevail upon you and you will withdraw your frivolous complaints and settle your loan accounts without complicating the issues still worse, which will not be in the best interests of you also. We need to specify here that if you pull us into unnecessary hurdles you will be held responsible for all the costs and consequences thereto.
Regards,
Customercare
FedBank Financial Services Limited
[protected]
www.fedfina.com
My Reply to Fedfina :
Harrasment & Valgure call was only received from Fedfina Regional Manager Mr. Suresh linking me in various issues. Pls. check clearly.
Now i am in my fathers death. Will apprise you in details of Forgeries with proof i[censored] can come down for discussion. Let us sit across and arrive a final solution to this.
Also harassment for releasing the same with out asking questions. Now also sending mails and letters and calling and threatening and harassing us telling that they will auction the same if not cleared. Purely they want to get away from the signature forgery issue. From today they are giving too much of metal harassment
Please go through the last Para where threatening us to hide their signature forgery issue.To safe guard the jobs of following person's who has involved in signature forgery issue:
1. Mr. Suresh - [protected]/[protected]
2. Mr. Stanly – [protected]
As informed by your above staff’s this branch has 400+ cases in your Ambattur branch.
Please have a serious look in to these issues and do the needful and oblige.
This is in reference to the complaint posted for Loan account no.- FEDKRR0GL1293613 disbursed in the name of Mr. Anil kumar. We wish to inform that aforesaid loan account has been closed in our records & pledged gold has been released to customer.
We are unable to attached copy of Gold Release Card(GRC) for your reference as website is unable to upload the file(pdf).
We request you to close the complaint in records.
Thanks & Regards,
Customercare
[protected]